The EUR\/USD pair extends gains above 0.9900 and the next barrier is at 1.0015. the Euro gains more than 400 pips from last week’s low. On the other hand, the US Dollar retreated across the board on risk appetite and lower US yields.
The EUR\/USD rose even further during the American session and climbed to 0.9977, reaching the highest level in a week. It remains near the top, up more than 150 pips for the day and 440 above last week’s low.
The next critical level on the upside is the parity area and the 1.0015 resistance area. On the flip side, now 0.9900 has become the initial support followed by 0.9850\/55.
So, the weaker dollar is driving EUR\/USD higher. On Tuesday, the August JOLTS (Job Openings report) showed the largest monthly decline on record from 11.17 million to 10.05, a possible sign of a slowdown in the job market. The negative report follows the larger-than-expected slide in the September ISM Manufacturing Index released on Monday. On Wednesday, the ADP report is due and on Friday the critical NPF report.
The latest US data below expectations contributed to the rally in EUR\/USD by weakening the US dollar. The combination of lower US yields and higher equity prices are still affecting the greenback. The DXY is falling by more than 1% trading under 110.50. The US 10-year yield stands at 3.61% near weekly lows, and significantly away from levels above 4% it reached six days ago. In Wall Street, the Dow Jones is rising by 2.50% and the Nasdaq by 3.15%.
Despite the latest data, the Federal Reserve is still seen raising interest rates in order to curb inflation. The same situation applies to the European Central Bank. In a speech on Wednesday, Christine Lagarde said it is difficult to tell if inflation is at a peak. “The minimum that we have to do is to stop stimulating demand,” Lagarde added.<\/p>\n","protected":false},"excerpt":{"rendered":"
The EUR\/USD pair extends gains above 0.9900 and the next barrier is at 1.0015. the Euro gains more than 400 pips from last week’s low. On the other hand, the US Dollar retreated across the board on risk appetite and lower US yields.The EUR\/USD rose even further during the American session and climbed to 0.9977, …<\/p>\n","protected":false},"author":13,"featured_media":73030,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6884,8674,9796,7199,9607],"class_list":["post-73427","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-eur-usd","tag-ism-manufacturing","tag-jolts-job-openings","tag-lagarde","tag-parity"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=73427"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73427\/revisions"}],"predecessor-version":[{"id":73433,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73427\/revisions\/73433"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/73030"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=73427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=73427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=73427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}