#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.
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
GBPUSD: Forecast for February 1, 2024
Events:
3:00 PM GMT, GBP - Bank of England interest rate decision
5:15 PM GMT, GBP - Speech by BoE Governor Bailey
6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
GBPUSD is ranging between 1.2600 and 1.2800.
Bank of England expected to keep interest rate unchanged at 5.25%.
UK labor market showing signs of rebalancing, but economic outlook remains uncertain.
Recommendation:
Consider buying above 1.2700.
#GBPUSD #Forex #Analysis #Forecast
Events:
3:00 PM GMT, GBP - Bank of England interest rate decision
5:15 PM GMT, GBP - Speech by BoE Governor Bailey
6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
GBPUSD is ranging between 1.2600 and 1.2800.
Bank of England expected to keep interest rate unchanged at 5.25%.
UK labor market showing signs of rebalancing, but economic outlook remains uncertain.
Recommendation:
Consider buying above 1.2700.
#GBPUSD #Forex #Analysis #Forecast
USDJPY: Forecast for February 1, 2024
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
Japanese yen (JPY) strengthening for the second day in a row.
US Federal Reserve dashed expectations for a March interest rate cut.
US dollar (USD) near 13-month high.
Recommendation:
Trade within the 146.00 - 147.70 range on bounces from support levels.
#USDJPY #Forex #Analysis #Forecast
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
Japanese yen (JPY) strengthening for the second day in a row.
US Federal Reserve dashed expectations for a March interest rate cut.
US dollar (USD) near 13-month high.
Recommendation:
Trade within the 146.00 - 147.70 range on bounces from support levels.
#USDJPY #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
GBPUSD: Sell from current levels
The GBPUSD pair dropped to a multi-week low of 1.2518. Expectations of an imminent Fed rate cut are easing, which is supporting the US dollar.
Bank of England Chief Economist Huw Pill said rates could fall this year, but only if inflation continues to fall.
In the absence of major economic data from the UK and the US, risk sentiment will play a key role for GBPUSD.
#GBPUSD #FOREX #ANALYSIS #FRESHFOREX
The GBPUSD pair dropped to a multi-week low of 1.2518. Expectations of an imminent Fed rate cut are easing, which is supporting the US dollar.
Bank of England Chief Economist Huw Pill said rates could fall this year, but only if inflation continues to fall.
In the absence of major economic data from the UK and the US, risk sentiment will play a key role for GBPUSD.
#GBPUSD #FOREX #ANALYSIS #FRESHFOREX
USDJPY: Buy from current levels
The Japanese yen (JPY) is rising amid geopolitical risks and economic problems in China.
The hawkish stance of the Bank of Japan (BoJ), signaling confidence in achieving the inflation target, is supporting the JPY.
The decline in USDJPY seems to be mitigated by the bullish sentiment on USD.
Incoming macroeconomic data from the US indicates that the economy is in good shape.
#USDJPY #FOREX #ANALYSIS #FRESHFOREX
The Japanese yen (JPY) is rising amid geopolitical risks and economic problems in China.
The hawkish stance of the Bank of Japan (BoJ), signaling confidence in achieving the inflation target, is supporting the JPY.
The decline in USDJPY seems to be mitigated by the bullish sentiment on USD.
Incoming macroeconomic data from the US indicates that the economy is in good shape.
#USDJPY #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.
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
GBPUSD: Awaiting GDP Data
GBPUSD holds above 1.2500. Upside capped by weak UK inflation data.
Investors eye Q4 UK GDP data (forecast: +0.1%).
BoE Governor Bailey says inflation to fall to target level by spring.
Trade recommendation:
Buy orders anticipating further rise.
#GBPUSD #Pound #Dollar #BoE #Bailey #GDP #Forex #Analysis
GBPUSD holds above 1.2500. Upside capped by weak UK inflation data.
Investors eye Q4 UK GDP data (forecast: +0.1%).
BoE Governor Bailey says inflation to fall to target level by spring.
Trade recommendation:
Buy orders anticipating further rise.
#GBPUSD #Pound #Dollar #BoE #Bailey #GDP #Forex #Analysis
USDJPY: Watch Level 150.00
USDJPY rises for a second day. Japanese officials warn against FX market speculation.
Japan's economy unexpectedly shrinks again in Q4.
US Fed seen keeping rates higher for longer.
Trade recommendation:
Monitor 150.00 level, buy on bounces.
#USDJPY #Dollar #Yen #Fed #Inflation #Economy #Forex #Analysis
USDJPY rises for a second day. Japanese officials warn against FX market speculation.
Japan's economy unexpectedly shrinks again in Q4.
US Fed seen keeping rates higher for longer.
Trade recommendation:
Monitor 150.00 level, buy on bounces.
#USDJPY #Dollar #Yen #Fed #Inflation #Economy #Forex #Analysis