The EURUSD currency pair remains in a tight range above the round-level support of 1.0900 on Monday as it struggles for direction. Investors look for fresh cues at the start of a busy data week that will likely indicate how much the Federal Reserve will cut interest rates in September. For fresh interest rate cues, … Read more
EURGBP extended gains for the second successive session, trading around 0.8420 on Thursday. The Euro remains strong as the European Central Bank decided at its July Monetary Policy Meeting to maintain its main refinancing rate at 4.25%, as expected. The ECB’s deposit facility rate also remains unchanged at 3.75%. Traders are now looking to further … Read more
EURUSD rallied into fresh 18-week highs on Wednesday as market sentiment tilts firmly into the risk-on side ahead of the European Central Bank’s latest rate call later on Thursday. Broad market risk appetite remains pinned into the ceiling as markets fully price in a rate cut from the Federal Reserve on September 18. ECB and … Read more
The EURGBP cross remains on the defensive around 0.8425 during the early European session on Thursday, trading with mild losses after the monthly UK Gross Domestic Product data. The UK economy grew more than expected in May after stagnating in April, with the GDP expanding at 0.4% MoM. This figure beat market expectations of 0.2% … Read more
EURUSD is clinging to gains above the crucial support of 1.0800 on Tuesday as the Dollar remains under pressure due to firm market speculation that the Fed will start reducing interest rates in September. According to the CME FedWatch tool, traders see a 77% chance that interest rates will be lower than current levels in … Read more
The EURJPY currency pair traded in positive territory for the sixth consecutive day near 173.80 on Wednesday during the early European session. The Yen weakened after the data showed that Japanese business activity turned contractionary in June. The final reading of Japan’s Services PMI fell to 49.4 in June from 49.8 in May. This figure … Read more
By Naeem Aslam European and US stock futures are trading higher on the first trading day of the second half of the year, with another reason for traders to feel a little more confident Monday being the news of the first round of the French snap parliamentary election. France is the second-largest economy in … Read more
EURUSD gained 0.50% and jumped to a more than two-week high near 1.0770 in Monday’s European trading. The major currency pair strengthened as initial results of the first round of France’s parliamentary elections on Sunday showed that Marine Le Pen’s far-right National Rally is in a comfortable position, but with a smaller margin than projected … Read more
The EURUSD faces selling pressure in Friday’s European trades due to multiple headwinds. The major currency pair declined to a six-week low near 1.0670 as the Euro weakened after downbeat Eurozone preliminary PMI data suggested the economy is losing momentum. The HCOB PMP report, produced by S&P Global, shows that the Composite PMI unexpectedly declined to … Read more
The EURUSD pair weakened near 1.0730, snapping the three-day winning streak during early European trading on Thursday, with the upside for the pair seeming limited as investors are worried about political uncertainty in the Eurozone. Investors will closely watch the preliminary Eurozone and US Purchasing Managers Index (PMI) for June, which are due on Friday. … Read more