The EUR/USD pair ends an intense week trading near a weekly bottom of 1.0632, its lowest since last March. The Euro advanced throughout the first half
“Based on its current assessment, the Governing Council considers that the key ECB interest rates have reached levels that, maintained for a sufficiently long duration, will make a substantial contribution to the timely return of inflation to the target,” the accompanying statement read. Additionally, Lagarde said that the focus will probably move to the duration of higher rates rather than to the level of rates themselves.
Meanwhile, US data also resulted better than expected. August Capacity Utilization increased to 79.7% from 79.5% in July, while Industrial Production rose 0.4% vs expectations of a 0.1% advance. On a down note, the preliminary estimate of the Michigan Consumer Sentiment Index printed at 67.7 in September, down from 69.5 in August.Financial markets gear up for the US Fed monetary policy announcement next Wednesday. The central bank is widely anticipated to remain on hold.
Technical readings in the daily chart favor a bearish continuation. EUR/USD currently develops below all its moving averages, with the 20 SMA heading firmly south below the longer ones. Finally, technicalA strong static support area could be found at around 1.0640, where the pair bottomed several times between May and June. Once below the latter, EUR/USD can test 1.0515, the March monthly low. On the contrary, the 1.0700 figure comes as an immediate resistance level, followed by 1.
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.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
EUR/USD Forecast: Euro caught between the ECB and more US dataThe EUR/USD was not affected by the release of US consumer inflation data and continues to trade within a familiar range. Upside momentum remains capp
Weiterlesen »
EUR/USD Forecast: ECB dovish hike and hotter US inflation taking their tollThe EUR/USD pair held inside a tight intraday range throughout the first half of Thursday, with the pair stable around 1.0730 ahead of the main event
Weiterlesen »
EUR/USD Forecast: Euro remains vulnerable after ECB dovish rate hikeThe Euro tumbled across the board after the European Central Bank’s 25 basis points rate hike. Markets perceive it as the final hike. On the other sid
Weiterlesen »
EUR/USD set to challenge 1.07 as ECB looms ahead with rates on the tableThe EUR/USD is down into the red for heading into Thursday’s market session, wrapping up Wednesday down around 1.0730 after opening the day above 1.07
Weiterlesen »
EUR/USD Price Analysis: Pair looks to approach 1.0750 ahead of ECB policy decisionEUR/USD hovers around 1.0740 during the Asian session on Thursday, attempting to recover from the previous day’s losses ahead of the policy decision f
Weiterlesen »
EUR/USD advances to 1.0750 ahead of the ECB rate decisionThe EUR/USD pair gains momentum and trades around 1.0750 during the early European session on Thursday. Traders shrugged off the upbeat US inflation d
Weiterlesen »