|Day's Range||1.217 - 1.224|
|52 Week Range||1.0840 - 1.2558|
Investing.com - The U.S. dollar rose to seven-week highs against a currency basket on Wednesday, driven by rising Treasury yields with the U.S. 10-year bond yield reaching its highest level since early 2014.
The European Central Bank meets for its policy-setting meeting on Thursday and the big question on traders’ mind is when President Mario Draghi & Co. will put an end to its aggressive bond buying program ...
The EUR/USD pair has been very noisy in general, and it looks likely that the 1.22 level is starting to offer signs of support. I believe that the market will probably continue to pay attention to this area, because it is the bottom of a consolidation area that has been in effect for several months.
The EUR/USD mounted a comeback throughout the session as buyers came in to defend the annual low reached in January. The inability to break the Euro through this low may have fueled Tuesday’s short-covering rally.
Investing.com – The dollar eased from two-month highs against a basket of major currencies as U.S. bond yields retreated from multi-year highs but sentiment on the greenback remained positive amid upbeat economic data.
The ECB lending survey showed easier lending conditions while the German IFO tumbled in April. French business confidence declined while the ECB’s Villeroy told banks to prepare for a recession. Target support is now seen near the March lows at 1.2154. Momentum is negative as the MACD (moving average convergence divergence) histogram prints near the zero index level with a flat trajectory which points to consolidation.
Investing.com - The dollar took a breather on Tuesday after rising to seven week highs against a basket of the other major currencies, as a boost from rising Treasury yields faded.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to a pair of Gann angles at 1.2213 and 1.2201.
Even after printing the lowest levels in more than seven-weeks, the EURUSD is struggling with 100-day SMA, at 1.2210 now, in order to revisit the 1.2165-55 horizontal-support. Should the pair fails to register a daily closing below 1.2210, it can bounce-back to the 1.2240 and then to the 1.2275-80 resistances. In case if the recovery stretches beyond 1.2280, the 1.2300 and the 50-day SMA level of 1.2330 could challenge the buyers ahead of fueling the pair towards 1.2400 mark. Given the pair’s D1 close below 1.2210, followed by the 1.2155 clearance, it can slump to the 1.2090 and the 1. ...
Investing.com - The dollar was holding steady near seven week highs against a basket of the other major currencies on Tuesday, boosted by rising Treasury yields.
French industrial morale dipped in April, reflecting concerns elsewhere in the euro zone that growth in the bloc is weakening as the impact of a stronger currency starts to bite. "There's definitely a slowdown, and the euro is not helping. The European Central Bank is stuck in a corner.
U.S. dollar bulls feel vindicated by the recent jump in the greenback, but currency positioning data from last week, which showed growing bearish dollar bets, perhaps, raising concerns for some about the ...
The Ecofin meetings are a major event in the EU, with leaders from all member states attending each time that they are held. How could the meeting affect the euro?
The Euro fell significantly against the greenback on Monday, as the US dollar was one of the strongest currencies that I follow here at FX Empire. The 1.22 level is just below and an area that should offer a bit of support, but if we get a bounce, the market could continue to go back and forth as we have for weeks. I believe that eventually we will see this.
Based on Monday’s close at 1.2207, the direction of the EUR/USD on Tuesday is likely to be determined by trader reaction to the major 50% level at 1.2166.
Investing.com – The dollar rose to an eight-week high against a basket of currencies amid a slump in both the yen and Aussie dollar, while a rise in the 10-year U.S. treasury yield close an important 3% level also lifted sentiment.
The greenback rallied on Monday, notably against the yen, with a key dollar index ascending to a three-month high as a U.S. benchmark Treasury yield was on the cusp of breaking above a psychologically significant level at 3%. The ICE U.S. Dollar Index (IFUS:DX-Y.NYB), which gauges the buck against a basket of six currencies, climbed 0.7% to 90.927, trading around its highest level since mid-January and adding to its positive momentum from late last week. The WSJ U.S. Dollar Index (CALCULATED:BUXX), which measures the greenback against a wider basket of currencies, rose 0.7% to 84.97.
The EUR/USD broke down on Monday as U.S. treasury yields hit the 3% level sending the greenback higher. Treasury yields have tested this level in the past, and despite a hawkish fed there has been little in the way of inflation that should send yields higher. Resistance is now seen near the breakdown level at 1.2245 and then the 10-day moving average at 1.2334. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line).
Investing.com - The dollar posted broad gains against a basket of the other major currencies on Monday, hitting seven week highs, boosted by rising U.S. bond yields.
Investing.com - The dollar extended early gains against a currency basket on Monday, rising to one-and-a-half month highs, driven up by a rise in U.S. bond yields, while mixed euro zone private sector survey data failed to support the euro.
The pair dropped significantly during the Friday’s session reaching down towards the 1.22 level as due to rising interest scenarios in the United States and lack of any clear pictures on rate hike by ECB after ending the QE. The market has now broken below 1.23 level, there will be some downward pressure with major support at 1.21 level. …Read MoreGBP/USD
Investing.com - The dollar was holding steady near two week highs against a currency basket on Monday supported by expectations for further interest rate hikes this year, while waning geopolitical risk dampened demand for the safe haven yen.
The ECB meets on Thursday against a backdrop of concern about a global trade spat and a softening in euro zone economic data that could potentially hamper the central bank's plans to unwind its extraordinary monetary stimulus. In March, the European Central Bank dropped a long-standing pledge to increase its bond buying if needed, taking another small step in weaning the euro zone economy off protracted quantitative easing (QE). Just how much recent economic and international developments are impacting the ECB's plans to unwind QE could well make for a lively debate.