|Day's Range||1.229 - 1.239|
|52 Week Range||1.0570 - 1.2558|
Investing.com - The dollar edged higher against a currency basket on Thursday, but struggled to make headway as investors continued to grapple with the direction for Federal Reserve policy and fears over the prospect of a global trade war.
Euro zone businesses rounded off the first quarter of 2018 with their slowest growth in over a year - and much weaker than expected - as new business took another hit from a stubbornly strong euro, a survey showed. The euro zone's economic boom had already paused in February and a Reuters poll earlier this month said growth had peaked, in news that may concern the European Central Bank as it looks to move away from an ultra-loose monetary policy. There is also a risk the slowdown could be widespread as growth rates in Germany and France both eased back this month, according to IHS Markit's Flash Purchasing Managers' surveys, with German business confidence waning.
Paris will overtake London as a centre for LCH's clearing of a core euro-denominated market after Brexit, the UK-based firm said as it seeks to head off French political demands for Britain to be frozen out. Euro clearing has become a political battleground since Britain voted in 2016 to leave the bloc next March. LCH, part of the London Stock Exchange (LSE.L), dominates clearing in euro-denominated instruments such as debt repurchase agreements and interest rate swaps from its base in Britain and increasingly from its French subsidiary.
Jerome Powell’s first meeting as the Fed chairman ended up with a rate hike. However, the fed aims for three rate hikes in the rest of the year. In addition, concerns continue to grow over a trade war as Donald Trump is expected to impose US tariffs on Thursday.
Based on the current price at 1.2323 and the earlier price action, the direction of the EUR/USD the rest of the session will be determined by trader reaction to the uptrending Gann angle at 1.2303.
The Euro has gained on the heels of the interest rate hike via the U.S Federal Reserve. The Euro/ USD forex pair has provided a consistent range since January.
The pound traded close to seven-week high against the dollar on Thursday, heading higher after stronger-than-expected U.K. retail sales and as traders waited for the latest Bank of England announcement....
The pair bounced higher during the yesterday’s session trying to reach towards the 1.23 level and above. The next few sessions, the market is expected to remain volatile as the Fed has moved forward with a 25 basis points rate hike and will have 2 more this year. The pair rallied a bit during the yesterday’s session using the 1.40 level as support.
The dollar’s initial rally failed to gain traction because ahead of the Fed’s announcement, speculators were probably betting on as many as four rate hikes this year.
The EUR/USD pair has been bullish during trading on Wednesday, breaking above the 1.2250 level, showing signs of life again. As we go into the Federal Reserve Monetary Policy Statement, we could see a lot of volatility.
Investing.com – The dollar fell against a basket of major currencies as traders appeared to take profits on recent gains ahead of a widely expected interest rate hike on Wednesday.
The U.S. dollar extends its decline against its major rivals on Wednesday as the Federal Reserve raised interest rates but stuck to its previous guidance of three rate increases in total this year.
The U.S. Dollar sold off on Wednesday following a the Federal Reserve's policy announcement that included a dovish interest rate hike. While the central bank raised rates by 25 basis points, in line with ...
A strong euro and higher funding costs would have a 450 million euro ($553 million) impact on Deutsche Bank in the first quarter of the year, the German lender's finance chief warned on Wednesday. James von Moltke, the bank's chief financial officer, said a stronger euro was turning out to be a 300 million euro drag on the investment bank, while the cost of funding would be an additional 150 million euros.
Investing.com - The U.S. dollar remained lower against other major currencies on Wednesday, as investors were cautious ahead of the Federal Reserve's monthly policy decision due later in the day.
Given the current price and earlier price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to 1.2265.
Investing.com - The dollar was lower against a currency basket on Wednesday as investors awaited the conclusion of the Federal Reserve’s meeting later in the day, when it was expected to announce its first rate hike of the year.
The pair reversed its direction and broke down significantly during the Tuesday’s session reaching the 1.2275 level, an area which is a significant support level. If Fed moves forward with 3 rate hikes this year, then the market will resume its upward movement towards the 1.43 and 1.45 level. The AUD traded on a choppy note throughout the Tuesday’s session dancing just above its major support level at 0.77 level.
The EUR/USD pair fell significantly during the trading session on Tuesday, reaching down towards the 1.2270 level. This is an area that has been supportive previously, so it looks as if we are trying to find buyers in this area as I record this.
Investors will also be looking for clues from the central bank on its outlook for the U.S. economy and how many interest rate increases we may see to prevent the economy from overheating.
Investing.com – The dollar rose against a basket of major currencies amid expectations that the U.S. Federal Reserve will raise rates for the first time this year on Wednesday.
Investing.com - The dollar rebounded against a basket of the other major currencies on Tuesday, ahead of a Federal Reserve policy meeting where it was expected to announce the first rate hike of this year.
BRUSSELS (Reuters) - Euro zone consumer confidence was unchanged in March, figures released on Tuesday showed. The European Commission said a flash estimate showed euro zone consumer morale was 0.1 points, ...