#TradingEvents #FinancialNews #Today'sMarkets
Today, attention is focused on two significant events:
1. At 16:00 Moscow Time, the release of Consumer Price Index data for Germany is expected. For more details about the Consumer Price Index, click [here](https://freshforex.org/encyclopedia-forex/consumer-price-index/?utm_source=rssfeed&utm_medium=rss&utm_campaign=rssfun&ff_mrk=rss).
2. At 16:30 Moscow Time, keep an eye on the number of Initial Jobless Claims in the USA.
#EURUSD: Over the last four sessions, the EURUSD pair has maintained a bearish trend. Currently, it has temporarily dropped below the 1.0900 level due to the strengthening of the US dollar. Positive employment data in Germany did not support the euro, which continues to be influenced by the dynamics of the dollar. The subsequent deterioration in the US labor market after unexpectedly low JOLTs data on job openings in November has also played a role.
The US Dollar Index (DXY) has risen to three-week highs, supported by a rebound in US yields. Anticipation surrounds news from the USA following the FOMC meeting in December, where discussions included the possible approach of interest rates to peak levels for the current economic cycle, as well as forecasts for rate cuts by 2024.
Comments from Richmond Fed member T. Barkin about a soft landing for the US economy and the possibility of rate hikes have also impacted the dollar. These factors have reinforced the already strong positions of the dollar in the middle of the week.
#TradingRecommendation: It is recommended to open sell orders in the range of 1.0910 - 1.0880. #Trading #Forex #MarketForecast #EuroDollar
Today, attention is focused on two significant events:
1. At 16:00 Moscow Time, the release of Consumer Price Index data for Germany is expected. For more details about the Consumer Price Index, click [here](https://freshforex.org/encyclopedia-forex/consumer-price-index/?utm_source=rssfeed&utm_medium=rss&utm_campaign=rssfun&ff_mrk=rss).
2. At 16:30 Moscow Time, keep an eye on the number of Initial Jobless Claims in the USA.
#EURUSD: Over the last four sessions, the EURUSD pair has maintained a bearish trend. Currently, it has temporarily dropped below the 1.0900 level due to the strengthening of the US dollar. Positive employment data in Germany did not support the euro, which continues to be influenced by the dynamics of the dollar. The subsequent deterioration in the US labor market after unexpectedly low JOLTs data on job openings in November has also played a role.
The US Dollar Index (DXY) has risen to three-week highs, supported by a rebound in US yields. Anticipation surrounds news from the USA following the FOMC meeting in December, where discussions included the possible approach of interest rates to peak levels for the current economic cycle, as well as forecasts for rate cuts by 2024.
Comments from Richmond Fed member T. Barkin about a soft landing for the US economy and the possibility of rate hikes have also impacted the dollar. These factors have reinforced the already strong positions of the dollar in the middle of the week.
#TradingRecommendation: It is recommended to open sell orders in the range of 1.0910 - 1.0880. #Trading #Forex #MarketForecast #EuroDollar
Important Events Today:
1. At 16:30 Moscow time - U.S. Producer Price Index.
2. At 18:00 Moscow time - FOMC Member Neel Kashkari's speech.
The EURUSD pair maintains a positive trend despite a renewed demand for the U.S. Dollar in the early Asian session on Friday. The pair's growth is supported by a risky environment ahead of key U.S. data releases. At the time of publication, the EUR/USD pair is trading at the level of 1.0977.
On January 11, the U.S. Department of Labor reported that initial claims for unemployment benefits for the week ending January 6 reached the lowest level since mid-October, decreasing by 1,000 to 202,000 from the revised previous week's figure of 203,000. The Consumer Price Index (CPI) in the U.S. for December increased by 3.4% compared to the previous value of 3.1%, surpassing the market consensus forecast of 3.2%. The core CPI, excluding volatile food and energy prices, rose by 3.9% YoY in December, exceeding expectations of 3.8%.
Christine Lagarde, President of the European Central Bank (ECB), stated on Thursday that interest rates would be lowered if the ECB is confident that inflation will decrease to the 2% level. Lagarde added that interest rates in the eurozone have peaked after a rapid rise in response to high inflation last year. Traders anticipate at least five rate cuts in 2024, with the first move expected in March or April.
Today, the U.S. Producer Price Index (PPI) is set to be published, with forecasts indicating a 1.3% growth compared to the same period last year in December. Trading recommendation: Buy from the current price level. For more in-depth analytical reviews, you can visit the FreshForex website.
#FinancialEvents #EURUSD #Indices #Dollar #Inflation #Rates #ECB #TradingRecommendation #ProducerPriceIndex #FreshForex #Analytics
1. At 16:30 Moscow time - U.S. Producer Price Index.
2. At 18:00 Moscow time - FOMC Member Neel Kashkari's speech.
The EURUSD pair maintains a positive trend despite a renewed demand for the U.S. Dollar in the early Asian session on Friday. The pair's growth is supported by a risky environment ahead of key U.S. data releases. At the time of publication, the EUR/USD pair is trading at the level of 1.0977.
On January 11, the U.S. Department of Labor reported that initial claims for unemployment benefits for the week ending January 6 reached the lowest level since mid-October, decreasing by 1,000 to 202,000 from the revised previous week's figure of 203,000. The Consumer Price Index (CPI) in the U.S. for December increased by 3.4% compared to the previous value of 3.1%, surpassing the market consensus forecast of 3.2%. The core CPI, excluding volatile food and energy prices, rose by 3.9% YoY in December, exceeding expectations of 3.8%.
Christine Lagarde, President of the European Central Bank (ECB), stated on Thursday that interest rates would be lowered if the ECB is confident that inflation will decrease to the 2% level. Lagarde added that interest rates in the eurozone have peaked after a rapid rise in response to high inflation last year. Traders anticipate at least five rate cuts in 2024, with the first move expected in March or April.
Today, the U.S. Producer Price Index (PPI) is set to be published, with forecasts indicating a 1.3% growth compared to the same period last year in December. Trading recommendation: Buy from the current price level. For more in-depth analytical reviews, you can visit the FreshForex website.
#FinancialEvents #EURUSD #Indices #Dollar #Inflation #Rates #ECB #TradingRecommendation #ProducerPriceIndex #FreshForex #Analytics
EUR/USD Grows Amid Lack of Key US Data
📈 Euro-dollar shows modest growth in the early Asian session due to the absence of significant economic data from the US. Market expectations point to risk sentiments remaining a key factor in determining the movement of the EUR/USD pair. Officials from the European Central Bank (ECB) emphasize the importance of waiting for additional economic data before making decisions on rate normalization. ECB President Christine Lagarde has hinted at possible interest rate cuts if inflation falls below 2%. Investors react to signals of decreasing inflation, anticipating further monetary policy easing in 2024. Trading Recommendation: Trade within the range of 1.0900 - 1.1000 on bounces from levels. #EURUSD #Forex #Trading
📈 Euro-dollar shows modest growth in the early Asian session due to the absence of significant economic data from the US. Market expectations point to risk sentiments remaining a key factor in determining the movement of the EUR/USD pair. Officials from the European Central Bank (ECB) emphasize the importance of waiting for additional economic data before making decisions on rate normalization. ECB President Christine Lagarde has hinted at possible interest rate cuts if inflation falls below 2%. Investors react to signals of decreasing inflation, anticipating further monetary policy easing in 2024. Trading Recommendation: Trade within the range of 1.0900 - 1.1000 on bounces from levels. #EURUSD #Forex #Trading
#EURUSD #Forex #Finance #Analysis
📈 Trading Session Overview:
The EUR/USD pair continues to weaken for the fourth consecutive day amid rising tensions in the Red Sea and a deterioration in industrial production in the Eurozone. Currently, the pair is trading near the 1.0920 level, losing 0.18% for the day. Joachim Nagel of the European Central Bank emphasized the need to refrain from discussing interest rate cuts prematurely.
💼 Key Events of the Day:
13:00 MSK: ZEW Institute Business Environment Index.
Risk reduction sentiment pulling the euro down.
Industrial production in the Eurozone remains weak.
📉 Trading Recommendation:
Primarily trade on the sell side from the current price level.
📈 Trading Session Overview:
The EUR/USD pair continues to weaken for the fourth consecutive day amid rising tensions in the Red Sea and a deterioration in industrial production in the Eurozone. Currently, the pair is trading near the 1.0920 level, losing 0.18% for the day. Joachim Nagel of the European Central Bank emphasized the need to refrain from discussing interest rate cuts prematurely.
💼 Key Events of the Day:
13:00 MSK: ZEW Institute Business Environment Index.
Risk reduction sentiment pulling the euro down.
Industrial production in the Eurozone remains weak.
📉 Trading Recommendation:
Primarily trade on the sell side from the current price level.
"Euro Awaits ECB Decisions: EUR/USD Analysis"
Today brings decisions from the European Central Bank (ECB) on inflation and interest rates, creating uncertainty around the euro. The EUR/USD pair continues to rise, but the fundamental background favors bearish traders. Contradictory statements from ECB officials add to the uncertainty. The Bundesbank president emphasizes early discussions on rate cuts, while an ECB Governing Council member is ready to consider the issue sooner than most colleagues. This supports a negative outlook for the EUR/USD pair in the near term. Trading recommendation: Predominantly sell from current levels. #EURUSD #ECB #Forex
Today brings decisions from the European Central Bank (ECB) on inflation and interest rates, creating uncertainty around the euro. The EUR/USD pair continues to rise, but the fundamental background favors bearish traders. Contradictory statements from ECB officials add to the uncertainty. The Bundesbank president emphasizes early discussions on rate cuts, while an ECB Governing Council member is ready to consider the issue sooner than most colleagues. This supports a negative outlook for the EUR/USD pair in the near term. Trading recommendation: Predominantly sell from current levels. #EURUSD #ECB #Forex
"EUR/USD: Euro Supported by ECB Rate Expectations and Fed Comments"
In the early hours of Thursday's Asian trading, the EUR/USD pair remains stable despite the strengthening of the US dollar. The refusal of several European Central Bank (ECB) members to anticipate rate cuts provides some support for the euro. Specifically, ECB Governing Council member Bostjan Vasle stated that it is premature to expect rate cuts in early Q2. Vasle added that inflation needs to return to the 2% target before considering a change in monetary policy. Federal Reserve System (Fed) Chair Christopher Waller stated that a rate cut this year is likely but cautioned against rushing to lower the base rate until sustained inflation reduction is clear.
Trading recommendation: Monitor the level of 1.0900, trade from it on the rebound. Today's macroeconomic news can influence the EUR/USD pair.
#Forex #EURUSD #ECB #Fed #TradingAnalysis
In the early hours of Thursday's Asian trading, the EUR/USD pair remains stable despite the strengthening of the US dollar. The refusal of several European Central Bank (ECB) members to anticipate rate cuts provides some support for the euro. Specifically, ECB Governing Council member Bostjan Vasle stated that it is premature to expect rate cuts in early Q2. Vasle added that inflation needs to return to the 2% target before considering a change in monetary policy. Federal Reserve System (Fed) Chair Christopher Waller stated that a rate cut this year is likely but cautioned against rushing to lower the base rate until sustained inflation reduction is clear.
Trading recommendation: Monitor the level of 1.0900, trade from it on the rebound. Today's macroeconomic news can influence the EUR/USD pair.
#Forex #EURUSD #ECB #Fed #TradingAnalysis
Analytical Overview: Financial Market Events Today (January 25)
Key Events Today:
1. 16:15 MSK. ECB Decision on Interest Rates in the Eurozone.
- Impact on EUR: Anticipated changes in the main interest rate could influence the euro's exchange rate. Investors are closely monitoring the ECB's comments and decisions regarding monetary policy.
2. 16:30 MSK. GDP Price Index in the United States.
- Impact on USD: The release of GDP data can affect the U.S. dollar. Economic activity growth usually supports the national currency.
3. 16:45 MSK. ECB Press Conference.
- Impact on EUR: Statements from ECB representatives may influence the current situation and future prospects in the eurozone.
Market Events for EURUSD:
- EURUSD rose above 1.0930 after an unexpected increase in the manufacturing component of the PMI in Europe.
- However, strong PMI data in the U.S. dampened investor sentiment, leading to a decline in the currency pair.
- Investors are assessing economic dynamics, and the strengthening U.S. economy reduces expectations of rate cuts by the Federal Reserve.
- The Relative Strength Index (RSI) for EURUSD indicates a bearish momentum.
Trading Recommendation:
- A sell order is recommended from the current price level, considering the bearish momentum and the weakening euro.
FreshForex Partner Program:
- Earn income not only from your own trades but also by attracting clients through the FreshForex partner program.
- Opportunity to earn up to $30 per lot.
#FreshForex #Analytics #Finance #EURUSD #FOMC #ECB #Currencies
Key Events Today:
1. 16:15 MSK. ECB Decision on Interest Rates in the Eurozone.
- Impact on EUR: Anticipated changes in the main interest rate could influence the euro's exchange rate. Investors are closely monitoring the ECB's comments and decisions regarding monetary policy.
2. 16:30 MSK. GDP Price Index in the United States.
- Impact on USD: The release of GDP data can affect the U.S. dollar. Economic activity growth usually supports the national currency.
3. 16:45 MSK. ECB Press Conference.
- Impact on EUR: Statements from ECB representatives may influence the current situation and future prospects in the eurozone.
Market Events for EURUSD:
- EURUSD rose above 1.0930 after an unexpected increase in the manufacturing component of the PMI in Europe.
- However, strong PMI data in the U.S. dampened investor sentiment, leading to a decline in the currency pair.
- Investors are assessing economic dynamics, and the strengthening U.S. economy reduces expectations of rate cuts by the Federal Reserve.
- The Relative Strength Index (RSI) for EURUSD indicates a bearish momentum.
Trading Recommendation:
- A sell order is recommended from the current price level, considering the bearish momentum and the weakening euro.
FreshForex Partner Program:
- Earn income not only from your own trades but also by attracting clients through the FreshForex partner program.
- Opportunity to earn up to $30 per lot.
#FreshForex #Analytics #Finance #EURUSD #FOMC #ECB #Currencies
Event to Watch Today: The key event to watch today is the release of the U.S. Gross Domestic Product (GDP) data for the fourth quarter on an annual basis. The data is scheduled to be published at 16:30 CET.
The GBPUSD pair continues its downtrend after retreating from the recent two-week high of 1.2774 on Wednesday. During the European session on Thursday, the GBP/USD pair is trading lower, near 1.2710.
The British Pound (GBP) initially gained support from positive Purchasing Managers' Index (PMI) data from the United Kingdom. However, this upward momentum couldn't be sustained after favorable PMI data was released from the United States.
Positive PMI data from S&P Global in the U.S. on Wednesday may reduce the likelihood of a Federal Reserve rate cut in March, leading to a decline in the GBPUSD pair.
Trading Recommendation: The trading recommendation leans towards sell orders.
#GBPUSD #FX #trading #Forex #ForexNews #ForexAnalysis #EURUSD #USDJPY #AUDUSD #XAUUSD #BTCUSD
The GBPUSD pair continues its downtrend after retreating from the recent two-week high of 1.2774 on Wednesday. During the European session on Thursday, the GBP/USD pair is trading lower, near 1.2710.
The British Pound (GBP) initially gained support from positive Purchasing Managers' Index (PMI) data from the United Kingdom. However, this upward momentum couldn't be sustained after favorable PMI data was released from the United States.
Positive PMI data from S&P Global in the U.S. on Wednesday may reduce the likelihood of a Federal Reserve rate cut in March, leading to a decline in the GBPUSD pair.
Trading Recommendation: The trading recommendation leans towards sell orders.
#GBPUSD #FX #trading #Forex #ForexNews #ForexAnalysis #EURUSD #USDJPY #AUDUSD #XAUUSD #BTCUSD
EURUSD: 1.0815, Downward Trend Continues
The EURUSD fell during the Asian session on Wednesday, dropping to the 1.0815 area, which is within striking distance of the lowest level since December 13, reached earlier this week.
The main factors weighing on the euro are:
The JOLTS report released on Tuesday showed that the number of job openings in the United States unexpectedly rose to 9.02 million in December, suggesting that the labor market is too strong for the Federal Reserve (Fed) to begin cutting interest rates in the first quarter.
Geopolitical risks, driven by conflicts in the Middle East and economic problems in China.
However, the recent decline in U.S. Treasury yields could keep dollar bulls from aggressive bets ahead of the Fed's highly anticipated monetary policy decision, which is scheduled to be released today. Additionally, uncertainty over when the European Central Bank (ECB) will begin cutting interest rates could be a tailwind for the common currency.
Trading recommendation: Sell orders at the 1.0800 level.
#EURUSD #Fed #FedRateHike #euro #dollar #laborMarket #geopoliticalRisks
The EURUSD fell during the Asian session on Wednesday, dropping to the 1.0815 area, which is within striking distance of the lowest level since December 13, reached earlier this week.
The main factors weighing on the euro are:
The JOLTS report released on Tuesday showed that the number of job openings in the United States unexpectedly rose to 9.02 million in December, suggesting that the labor market is too strong for the Federal Reserve (Fed) to begin cutting interest rates in the first quarter.
Geopolitical risks, driven by conflicts in the Middle East and economic problems in China.
However, the recent decline in U.S. Treasury yields could keep dollar bulls from aggressive bets ahead of the Fed's highly anticipated monetary policy decision, which is scheduled to be released today. Additionally, uncertainty over when the European Central Bank (ECB) will begin cutting interest rates could be a tailwind for the common currency.
Trading recommendation: Sell orders at the 1.0800 level.
#EURUSD #Fed #FedRateHike #euro #dollar #laborMarket #geopoliticalRisks
EURUSD: Forecast for February 1, 2024
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
The EURUSD pair is trying to recover from recent losses but faces downward pressure due to Powell's hawkish stance on interest rates.
Support at 1.0800, a break below could lead to further decline to 1.0750.
Recommendation:
Wait for price to settle below 1.0800 and sell.
#EURUSD #Forex #Analysis #Forecast
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
The EURUSD pair is trying to recover from recent losses but faces downward pressure due to Powell's hawkish stance on interest rates.
Support at 1.0800, a break below could lead to further decline to 1.0750.
Recommendation:
Wait for price to settle below 1.0800 and sell.
#EURUSD #Forex #Analysis #Forecast
EURUSD: Sell below 1.0750
US retail sales data will be released today at 13:00 GMT.
FreshForex analysts predict that the EURUSD pair will continue to decline if the price consolidates below 1.0750.
Reasons:
Strong US services PMI data: The index rose to 53.4 in January, above expectations.
Hawkish Fed rhetoric: Jerome Powell stressed the importance of reaching the inflation target of 2%.
Weak European PPI data: Inflation in the EU is slowing down.
#EURUSD #FOREX #ANALYSIS #FRESHFOREX
US retail sales data will be released today at 13:00 GMT.
FreshForex analysts predict that the EURUSD pair will continue to decline if the price consolidates below 1.0750.
Reasons:
Strong US services PMI data: The index rose to 53.4 in January, above expectations.
Hawkish Fed rhetoric: Jerome Powell stressed the importance of reaching the inflation target of 2%.
Weak European PPI data: Inflation in the EU is slowing down.
#EURUSD #FOREX #ANALYSIS #FRESHFOREX
#Finance #Forex #EURUSD #GBPUSD #USDJPY #analysis
1. EURUSD: Outlook for EUR-USD Pair Following Rebound from 2024 Lows
The EUR-USD pair rebounded from the lows of 2024, rising to the level of 1.0760. This uptrend was supported by the weakening of the US dollar and some comments from Federal Reserve officials. However, retail sales in the Eurozone declined, exerting some pressure on the euro. Trading recommendations focus on sell orders towards the price level of 1.0710.
2. GBPUSD: Analysis of Pound Sterling Dynamics Against the US Dollar
GBP to USD is trading higher amid the weakening of the US dollar and the decline in US Treasury bond yields. Markets assess the probability of rate cuts in March and May, which supports the dollar's exchange rate. However, the pound sterling is at risk of a technical recession, which could impact the Bank of England's interest rate policy. Trading recommendations predominantly assume sell orders.
3. USDJPY: Analysis of the US Dollar Dynamics Against the Japanese Yen
The Japanese yen strengthened during the Asian session, anticipating an increase in wage growth and a potential exit from the Bank of Japan's loose monetary policy. However, unfavorable macroeconomic data in Japan and concerns about geopolitical tensions may deter traders from new yen positions. Trading recommendations suggest buy orders, considering some downward pressure on the USD/JPY pair.
1. EURUSD: Outlook for EUR-USD Pair Following Rebound from 2024 Lows
The EUR-USD pair rebounded from the lows of 2024, rising to the level of 1.0760. This uptrend was supported by the weakening of the US dollar and some comments from Federal Reserve officials. However, retail sales in the Eurozone declined, exerting some pressure on the euro. Trading recommendations focus on sell orders towards the price level of 1.0710.
2. GBPUSD: Analysis of Pound Sterling Dynamics Against the US Dollar
GBP to USD is trading higher amid the weakening of the US dollar and the decline in US Treasury bond yields. Markets assess the probability of rate cuts in March and May, which supports the dollar's exchange rate. However, the pound sterling is at risk of a technical recession, which could impact the Bank of England's interest rate policy. Trading recommendations predominantly assume sell orders.
3. USDJPY: Analysis of the US Dollar Dynamics Against the Japanese Yen
The Japanese yen strengthened during the Asian session, anticipating an increase in wage growth and a potential exit from the Bank of Japan's loose monetary policy. However, unfavorable macroeconomic data in Japan and concerns about geopolitical tensions may deter traders from new yen positions. Trading recommendations suggest buy orders, considering some downward pressure on the USD/JPY pair.
USDJPY: Awaiting US Inflation Data and Bank of Japan Comments
The USD/JPY pair is trading without significant changes at the start of the Asian session. Uncertainty about the timing of interest rate cuts leaves the US dollar in consolidation. Investors are awaiting the release of US Consumer Price Index (CPI) data and comments from the Bank of Japan, which could influence the Japanese yen's exchange rate. Trading recommendation: preferably trade on buy from current price levels.
Today's events in the financial markets could significantly impact currency pair rates, so investors should exercise caution and monitor market dynamics. #Forex #Finance #Investments #EURUSD #GBPUSD #USDJPY #inflation #CPI #BankofEngland #Fed #BankofJapan #labormarket #unemployment
The USD/JPY pair is trading without significant changes at the start of the Asian session. Uncertainty about the timing of interest rate cuts leaves the US dollar in consolidation. Investors are awaiting the release of US Consumer Price Index (CPI) data and comments from the Bank of Japan, which could influence the Japanese yen's exchange rate. Trading recommendation: preferably trade on buy from current price levels.
Today's events in the financial markets could significantly impact currency pair rates, so investors should exercise caution and monitor market dynamics. #Forex #Finance #Investments #EURUSD #GBPUSD #USDJPY #inflation #CPI #BankofEngland #Fed #BankofJapan #labormarket #unemployment
EURUSD: Eyes on Lagarde Speech
EURUSD hovers around 1.0730, attempting a second day of gains. Pressure eases on USD, with US 2-year and 10-year Treasury yields down.
Euro (EUR) unfazed by Q4 Eurozone GDP meeting expectations.
Market awaits speech by Christine Lagarde, ECB President today.
Trade recommendation:
Rangebound trading within 1.0700 - 1.0760.
#EURUSD #Euro #Dollar #ECB #Lagarde #Forex #Analysis
EURUSD hovers around 1.0730, attempting a second day of gains. Pressure eases on USD, with US 2-year and 10-year Treasury yields down.
Euro (EUR) unfazed by Q4 Eurozone GDP meeting expectations.
Market awaits speech by Christine Lagarde, ECB President today.
Trade recommendation:
Rangebound trading within 1.0700 - 1.0760.
#EURUSD #Euro #Dollar #ECB #Lagarde #Forex #Analysis
EURUSD: Cautious Optimism Ahead of PPI
EURUSD retreats after two days of gains, but cautious optimism remains. The US Dollar (USD) finds support in yields and jobless claims, but weak retail sales hold it back.
Events:
4:30 PM CET: USD - Producer Price Index (PPI)
Trading Recommendation:
Trade within a tight range of 1.0740-1.0790
#EURUSD #Forex #FundamentalAnalysis
EURUSD retreats after two days of gains, but cautious optimism remains. The US Dollar (USD) finds support in yields and jobless claims, but weak retail sales hold it back.
Events:
4:30 PM CET: USD - Producer Price Index (PPI)
Trading Recommendation:
Trade within a tight range of 1.0740-1.0790
#EURUSD #Forex #FundamentalAnalysis
EURUSD: Positive sentiment persists
March 11, 2024
The EURUSD pair continues to show positive dynamics, holding around 1.0940. This is supported by a number of factors:
Strong US labor market data: Non-farm payrolls in the US increased by 275K in February, exceeding expectations.
Expectations of Fed rate cuts: Markets expect the Fed to start cutting rates as early as June, which is negative for the US dollar.
ECB's cautious approach: The ECB maintains a cautious approach to changing interest rates, which supports the euro.
Trading recommendation:
Trade predominantly with Buy orders from the current price level.
#EURUSD #Forex #Analytics
March 11, 2024
The EURUSD pair continues to show positive dynamics, holding around 1.0940. This is supported by a number of factors:
Strong US labor market data: Non-farm payrolls in the US increased by 275K in February, exceeding expectations.
Expectations of Fed rate cuts: Markets expect the Fed to start cutting rates as early as June, which is negative for the US dollar.
ECB's cautious approach: The ECB maintains a cautious approach to changing interest rates, which supports the euro.
Trading recommendation:
Trade predominantly with Buy orders from the current price level.
#EURUSD #Forex #Analytics