The dollar jumped to a 16-month high against the euro and other major currencies on Thursday, while the yen slipped toward multi-year lows, after the highest US inflation reading in 30 years boosted bets on higher interest rates. Data showed consumer price growth in the United States at the fastest …
Read More »The Euro Confirms The Breach
The movements of the European single currency witnessed a noticeable decline against the US dollar within the expected negative outlook in the previous report. Therefore, we relied on trading stability below the resistance level of 1.1610, heading towards the official target station 1.1500, recording the lowest price of 1.1465. Technically, …
Read More »China’s Cash on Table in Fresh Euro Bond Sale
A 4 EUR billion sale of new debt bonds on Wednesday showed investor demand is still strong for the sovereign.This strong demand comes despite concerns mount about the state of the corporate bond market domestically.However, China missed a trick by not issuing a green tranche, as it had suggested was …
Read More »Market Drivers – European Session 10-11-2021
Markets were waiting for US inflation data, which came in better than expected. Inflation in the US, as measured by the Consumer Price Index (CPI), surged to 6.2% on a yearly basis in October from 5.4% in September, the US Bureau of Labor Statistics reported on Wednesday, surpassing the market …
Read More »Dollar Rises Slightly Ahead of US Inflation Data
The dollar rose slightly against the major currencies on Wednesday after falling in the past three days, as investors are reluctant to take risks ahead of US inflation data that may shed some light on when the Federal Reserve may raise interest rates. Economists polled by Reuters expect CPI data …
Read More »Euro Retests Resistance
The resistance levels at 1.1610 constituted an obstacle for the pair to retest it successfully as we expected, and the current movements are still below it. Technically, by looking at the chart, we notice that the price stabilizes intraday below the 50-day moving average. This comes in conjunction with the …
Read More »BOE & ECB Interest Rate Expectations Updates
Rate hike chances are gaining more appeal throughout financial markets for the BOE after the November meeting, given the actual inflation profile, in which there was a 95%+ chance of a 15-bps hike. The European Central Bank has made clear that it does not intend on raising rates anytime soon, but …
Read More »Market Drivers – European Session 09-11-2021
The most prominent event during the European session was the jump of cryptocurrencies. Bitcoin prices jumped over the past few hours, reaching a new historical high at $68.5 thousand, while it is now rising around 4%. The market value of Bitcoin has jumped to levels of 1.3 trillion dollars, while …
Read More »Euro Retests Resistance
The single European currency started its first weekly trading within a slight bullish slope within attempts to recover. However, it is still limited, building on the 1.1520 support floor, trying to retest 1.1610/1.1600. Technically, by looking at the chart, we notice the price’s attempts to move above the 50-day moving …
Read More »BoE Won’t Politicize Dealings with Foreign Clearing Houses
The Bank of England will not politicize how it supervises foreign clearing houses with confronting responses to whatever the European Union decides, a senior BoE official said on Monday.Christina Segal-Knowles, the BoE’s executive director for financial market infrastructure, pointed out in a public consultation paper how the central bank will …
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