Euro is technically bearish and could reach the 1.1000 figure in the near term EUR EURUSD $EUR $EURUSD
But overall, financial markets took it well. The yield on the 10-year US Treasury note peaked at 1.86% following the Fed's announcement, pulling back afterwards to end the week at around 1.79%.US data released this week was mixed, although the greenback got an additional boost from the Q4 Gross Domestic Product figure, as it showed that the country grew at an annualized pace of 6.9% in the last quarter of 2021.
Markit also released the preliminary estimates of the Union's PMIs. German figures were upbeat, but generally speaking, the expansion in the services sector was tepid across the region, while the manufacturing sector picked up strongly. By the end of the week, the focus will be on US employment figures, as the country will release the Nonfarm December Payrolls report, expected to show that the US added 238K new jobs in the month. The Unemployment Rate is expected to remain steady at 3.9%.The EUR/USD pair bottomed at 1.1120 and trades nearby, heading into the close. The weekly chart shows that the pair has resumed its decline and is poised to fall further, as technical indicators head firmly south near oversold readings.
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 Forecast: Euro Breaks Down After FOMCThe euro initially tried to rally on Wednesday but gave back gains most of the day.
Read more »
EUR/USD Forecast: 1.1000 exposed as US economy keeps growing at a fast paceThe EUR/USD pair fell on Thursday to 1.1130, a level that was last seen in May 2020. The dollar appreciated through all sessions, surging in Asia on
Read more »
EUR/USD Forecast: Euro Collapses Amidst US Dollar StrengthWe may get the occasional bear market rally, but that will simply be an opportunity to sell at a higher level yet again. EURUSD forextrading forexmarket
Read more »
EUR/USD unable to recover, prints fresh low at 1.1130After a brief recovery, the EUR/USD dropped to 1.1130, hitting a fresh multi-month low. It then rebounded again, finding resistance around 1.1160. The
Read more »
EUR/USD now looks to 1.1210 – UOBFX Strategists at UOB Group now sees EUR/USD heading towards the 1.1210 level in the next weeks. Key Quotes 24-hour view: “We expected EUR to ‘trade s
Read more »
EUR/USD Forex Signal: Looking BearishThe FOMC put new strength into the US dollar.
Read more »