|Day's Range||1.1 - 1.107|
|52 Week Range||1.0930 - 1.1815|
Based on the early price action and the current price at 1.1020, the direction of the EUR/USD is likely to be determined by trader reaction to the short-term 50% level at 1.1019.
Markets react relatively sluggishly to the events of the beginning of the week. Oil remains at elevated levels, climbing13% since the beginning of the week.
Investing.com - The Canadian dollar was weaker against the U.S. dollar on Tuesday after soft manufacturing data and falling oil prices erased gains from the prior session.
Investing.com -- U.S. industrial production and manufacturing output both rose by more than expected in August, bucking the trend of a global slowdown this year against the backdrop of the U.S.-China trade war.
The ZEW Indicator of Economic Sentiment rose 21.6 points to a -22.5 reading in September. Economists polled by FactSet had forecast a reading of -37.9. "The outlook remains negative. However, the rather strong fears that financial experts had in the previous month regarding a further intensification of the trade conflict between the USA and China did not come true. And there is still hope that a no deal Brexit can be avoided. In addition, the European Central Bank is attempting to reduce the economic risks in the eurozone by further easing its monetary policy," said ZEW President Professor Achim Wambach.
Investing.com -- Germany's ZEW economic sentiment index, the first major confidence indicator of the month in Europe, rose to -22.5 in September from a seven-year low of -44.1 in August, amid signs of progress in the U.S.-China trade dispute and the European Central Bank's monetary policy easing package last week.
Uncertainty over how the U.S will respond to the attacks on Saudi oil feeds could leave the markets tentative ahead of tomorrow’s FOMC decision.
The Euro initially tried to rally at the open on Monday, but as the markets raced toward safety, the US dollar got a bit of a boost against the common currency. Beyond that, there are recessionary headwinds and places like Germany, and that of course weighs heavily upon the Euro.
Based on the early price action and the current price at 1.1043, the direction of the EUR/USD the rest of the session on Monday is likely to be determined by trader reaction to the 50% level at 1.1045.
It was a hot monetary policy meeting yesterday. Faced with slow inflation and bleak growth, the ECB eased again, delivering a fresh stimulus package. What does it mean for the gold market?
Attacks on Saudi oil fields drove demand for the Yen and the Loonie as oil prices surged. Johnson is in focus later today and the GBP needs progress.
Investing.com - The safe haven yen and Swiss franc look likely to strengthen when markets open this week amid heightened geopolitical tensions in the Middle East after weekend attacks on Saudi oil plants disrupted global oil supplies.
It’s a big week ahead for the markets. The FED, the BoE and Brexit are in focus, with stats and chatter on trade also needing some attention.
The Euro was all over the place during the week as we had an ECB press conference, as you would expect. Having said that, it had a significant bounce after the interest rate decision, but on Friday we also started to see selling pressure again. We are in a downtrend, and that’s the most important thing to pay attention to.
The Euro rallied a bit during the trading session on Friday, reaching towards the 1.11 EUR level. We had also found the resistance at the 50 day EMA, so technically speaking, this is a sign that we are probably going to reenter the previous consolidation.
Based on the early price action and the current price at 1.1104, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the 50% level at 1.1106.
Investing.com - The pound rose on Friday on a newspaper report that the U.K. government is contemplating some type of regulatory divergence between Northern Ireland the U.K. in an attempt to secure a Brexit deal.
It was a volatile day for EUR/USD on Thursday. The ECB meeting triggered a drop towards the yearly low but a sharp reversal saw the pair touching a two-week high in the same session.
Draghi was also hurt by a headline from Bloomberg that said he faced opposition from several key ECB governors in his ultimately successful bid to restart quantitative easing, according to officials with knowledge of the matter.
Investing.com -- Stocks are within touching distance of new all-time highs after China stoked hopes of a trade deal with the U.S. Meanwhile, sterling is at a two-month high as Brexit risks recede, and WeWork's IPO is back on the road. Here's what you need to know in financial markets on Friday, 13th September.
It’s risk-on through the Asian session as the markets respond to the ECB move. On the day ahead, the focus will be on Brexit and U.S retail sales figures.
President Donald Trump on Thursday criticized the European Central Bank over its stimulus measures, and talked up Chinese plans to buy American agricultural products.
ECB President Mario Draghi is more explicit than ever about the limited ability of monetary policy to cure the euro area’s longstanding economic ills, putting the spotlight on politicians to step up their efforts on the fiscal front.