The EURUSD pair rebound to near the psychological resistance of 1.1000 in Friday’s New York session. The major currency pair bounced back as the US Dollar declined with investors gaining confidence that the Federal Reserve will start reducing interest rates from the September meeting. The DXY Dollar Index, which tracks the greenback’s value against six … Read more
The Euro-dollar EURUSD currency pair is retracing recent gains, trading around 1.0870 on Tuesday, with markets awaiting the release of the leading consumer confidence data by the European Commission later in the day. Traders expect the data to indicate an economic downturn with an expected reading of -13.2 for July, in comparison with the previous … 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
BNN Bloomberg’s Paul Bagnell looks at how North American markets are shaping up for the trading day. (Bloomberg) — U.S. stock futures rose and longer-maturity bonds retreated as investors ratcheted up wagers that Donald Trump would win the presidential election after an assassination attempt.The U.S. 30-year yield rose above the two-year for the first time … Read more
There is a lot to digest from the shocking assassination attempt on former President Donald Trump over the weekend, with US politics, which was already very divided, now marred with violence, said Rabobank’s senior FX strategist Jane Foley. “Market pricing can only respond in a binary manner and, for the markets, the complexities of the … Read more
West Texas Intermediate price hovers around $77.50 per barrel during Asian trading on Tuesday, as crude oil prices are bolstered by expectations of increased fuel demand this summer. According to Reuters, analysts at the energy consulting firm Gelber and Associates noted that, “futures are higher as expectations of summer demand are supportive of prices despite … Read more
Following Wednesday’s choppy action in foreign exchange markets, investors are gearing up for key events that could ramp up the volatility. The European Central Bank will announce monetary policy decisions on Thursday and the US economic calendar will feature weekly Initial Jobless Claims and Unit Labor Costs data for the first quarter ahead of Friday’s … Read more
Key data releases include the Harmonised Index of Consumer Prices (HICP) from Eurostat, the Personal Consumption Expenditures (PCE) Price Index from the US Bureau of Economic Analysis, and first-quarter Gross Domestic Product (GDP) data from Canada.
The EURUSD pair fell to 1.0830 in European trading after failing to reach a two-month high near 1.0900. ECB governing council member Klaas Knot suggested a gradual rate-cut approach based on recent data showing wage growth and improved Manufacturing PMI. The Dollar’s DXY Index recovered to 104.80 due to market sentiment. Investors are now expecting the Fed to start reducing interest rates in the last quarter of the year.
The West Texas Intermediate (WTI) futures on NYMEX were moving higher towards a weekly high near .25 in Tuesday’s European trading.