EUR/USD regains composure and reclaims the 1.0480 region – by pabspiovano EURUSD Currencies Majors
Germany’s Industrial Production contracted 0.1% MoM in October.The European currency regains the smile and pushesEUR/USD manages to regain some upside traction following two consecutive daily retracements amidst alternatingIn the German money markets, the 10-year bund yields extend the side-lined theme around the 1.80% region, while their American peers show the same range bound performance., where the GDP Growth Rate in the broader Euroland is now seen expanding 0.3% QoQ and 2.3% YoY in Q3.
In the meantime, the European currency is expected to closely follow dollar dynamics, the impact of the energy crisis on the region and the Fed-ECB divergence. In addition, markets repricing of a potential pivot in the Fed’s policy remains the exclusive driver of the pair’s price action for the time being.
: Continuation of the ECB hiking cycle vs. increasing recession risks. Impact of the war in Ukraine and the protracted energy crisis on the region’s growth prospects and inflation outlook. Risks of inflation becoming entrenched.So far, the pair is gaining 0.13% at 1.0475 and is expected to meet the next up barrier at 1.0584 ahead of 1.0614 and finally 1.0773 . On the other hand, the breach of 1.0355 would target 1.0330 en route to 1.0222 .
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD: There is a strong seasonal bias to be mindful of in December – MUFGEUR/USD has now rebounded by nine big figures since reaching a trough on 28th September. Economists at MUFG Bank analyze the EUR/USD seasonal outlook
Read more »
EUR/USD eyes next resistance zone at 1.0630/1.0690 – SocGenEUR/USD is inching towards next resistance zone of 1.0630/1.0690. Failure to surpass this area could lead to a short-term pullback, economists at Soci
Read more »
EUR/USD Price Analysis: Immediately to the upside aligns 1.0614EUR/USD manages to accelerate gains and visit the 1.0580/85 band at the beginning of the week. Further upside in the pair is now likely to pick up pac
Read more »
When is the US ISM Services PMI and how could it affect EUR/USD?The Institute of Supply Management (ISM) will release the Non-Manufacturing Purchasing Managers' Index (PMI) - also known as the ISM Services PMI – at
Read more »
EUR/USD falls on robust US ISM Services data, tumbles below 1.0500EUR/USD falls on robust US ISM Services data, tumbles below 1.0500 – by christianborjon EURUSD Majors Macroeconomics Currencies Technical Analysis
Read more »
EUR/USD bulls move in despite corrective US DollarEUR/USD is perched at the upper end of the bull cycle that started at the end of September's business on the US Dollar's weakness. At 1.0507, the Euro
Read more »