|Day's Range||1.17 - 1.175|
|52 Week Range||1.1111 - 1.2558|
By Tom Finn LONDON (Reuters) - The euro rose off a six-month low on Thursday as China signaled its confidence in the single currency but concerns over an economic slowdown in Europe and political risks in Italy continued to act as a brake. The euro is set to slump for a sixth consecutive week against the dollar -- the longest weekly losing streak since January 2015 -- hobbled by worries over a deepening economic slowdown in the currency bloc. On Thursday China's Premier Li Keqiang said China was a long-term and responsible investor in the euro and hoped the currency would be strong and steady in spite of the occasional sovereign debt crisis in Europe.
Investing.com – The dollar remained at six month highs against its rivals on Wednesday following mostly bullish data pointing to underlying strength in the U.S. economy, while a sharp decline in both the pound and euro supported upside momentum.
The greenback rose to a five month high on Wednesday, as investors look ahead to the latest meeting minutes from the Federal Reserve. Investors will be looking to the Fed meeting minutes at 2:00 PM ET (18:00 GMT) closely for any signs of tightening monetary policy. A recent increase in bond yields, along with positive economic data and rising inflation, has boosted expectations that the Federal Reserve will increase interest rates and tighten monetary policy.
Italy President Sergio Mattarella on Wednesday asked law professor Giuseppe Conte to form a government, news reports said, putting a pair of populist parties on the cusp of power. Conte, a political unknown, was selected as a compromise candidate by the leaders of the 5 Star Movement and the League, who agreed to form a coalition government in the wake of March elections that had failed to produce a conclusive result. Conte must now draw up a list of cabinet ministers and submit them to the president for approval before taking office, according to Politico.
BRUSSELS (Reuters) - Euro zone consumer confidence dipped slightly in May against expectations for no change, figures released by the European Commission showed on Wednesday. The European Commission said ...
Based on the early trade, the direction of the EUR/USD is likely to be determined by trader reaction to the former bottom at 1.1712.
The dollar climbed against most of its rivals early Wednesday, but lost ground vs. the yen as geopolitical worries spurred buying in Japan’s haven currency. Victor Reklaitis is a London-based markets writer for MarketWatch.
Another instrument where it can be seen is the AUDUSD, where the price is going down weakened by the false breakout of the neckline of the iH&S formation. GBPJPY dropped like a rock and is now reaching an ultimate selling place.
The Euro bounced around during the Tuesday session, initially searching much higher, but pulling back from the 1.1825 handle. Since then, it looks like the buyers are starting to come back a little bit, so the question now is whether we are trying to form some type of short-term bottom?
Investing.com – The dollar moved off session lows as the euro reversed its earlier gains amid ongoing political uncertainty in Italy, while the pound resumed its downward trend adding to dollar strength.
The dollar struggled to stay near a five-month high on Tuesday as investors look ahead to the Fed minutes. The Federal Reserve releases the latest minutes from its monetary policy meeting on Wednesday. Investors will be looking closely for any sign of tightening monetary policy.
The EUR/USD bounced slightly on Tuesday but the trend for a lower exchange rate remains intact. U.S. yields edged lower, easing pressure on the currency pair despite a jump in the U.S. Philly Fed services index. U.S. chain store sales fell in the latest week, while the ECB is focused on Italy. The EUR/USD attempted to rebounded but ran into resistance near the 10-day moving average at 1.1841.
Euro-hopeful Bulgaria does not yet meet the criteria to adopt the single currency, the European Commission will say on Wednesday in an assessment of European Union countries that must one day switch to the euro. Unlike bigger and richer EU countries that still use their own currency, such as Sweden and Poland, Bulgaria, the EU's poorest member, is eager to join the euro zone and wants to begin the two-year waiting period in May or June. Apart from Britain, which will leave the EU next year, and Denmark, which has a permanent exemption from adopting the euro, all EU countries are legally obliged to join the single currency once they meet all the criteria.
Investing.com - The dollar pulled back from a five-month high against major rivals on Tuesday, as traders opted to take profits after the recent rally, while Forex traders focused on testimony to the UK Treasury Select Committee.
The market started off the week with a positive momentum bouncing higher from the 1.17 level which offered enough psychological support. The 1.18 level on the top is an important psychological resistance and market can witness some selling pressure from there.
The commodity-linked Aussie, Kiwi and Loonie were underpinned on Monday after President Trump’s top Treasury official said the trade war with China is “on hold,” a truce that removed a big risk from the market for now.
The U.S. dollar retraced its gains late Monday after having surged to its loftiest level since late last year, as investors read the most recent development between U.S. and China as evidence of easing trade animosities.
Investing.com – The dollar eased from fresh five month highs as gains on the back of abating trade war fears were offset by a recovery in the euro from multi-month lows.
Europe's General Data Protection Regulation is getting a lot of attention right now. In fact, the GDPR appears to be outranking even Beyoncé.