|Day's Range||130.463 - 131.22|
|52 Week Range||125.08 - 137.23|
The European Union and Japan signed a historic deal on Tuesday that will remove any tariffs on products they exchange.
The U.S. dollar gains momentum versus most of its rivals on Tuesday, as Federal Reserve Chairman Jerome Powell had favorable things to say about the U.S. economy even in light of the continuing trade spats surrounding the Trump administration.
the ECB will be releasing its monetary policy meeting minutes. The minutes cover the June ECB meeting where policymakers announced a taper to the QE program and an exit from QE by December 2018.
Overall, it was a “cheerleading” speech with Draghi emphasizing the accomplishments of the ECB and the importance of the European Union unifying against the threat of increased protectionism in order to promote economic prosperity.
The USDJPY is coiling for a significant break and the technical analysis points to higher levels. In this case, the vertical movement is the strong bullish reaction the pair had when President Trump got elected one and a half years ago. Typically, the USDJPY is correlated directly to the United States equity.
The European Central Bank president, Mario Draghi was speaking at the banking conference event in Portugal last week. The main take away from the speech was that the ECB president promised that the ECB would take time to hike interest rates.
China-related markets were taking some heat on Tuesday as a fresh chapter in the trade war with the U.S. threatened to blow up. Here are five charts showing how dramatic a day it has been for global markets.
Trade war fears allow the haven Japanese yen to defend modest gains against the dollar, even as the Bank of Japan cements its place as the most dovish of the world’s major central banks.
Investing.com - The euro dropped on Thursday after the European Central Bank signaled plans to wind up its bond purchasing program stimulus program by the end of the year but reiterated that it expects to keep interest rates on hold until the middle of 2019.
Investing.com - Policy meetings by the Federal Reserve and the European Central Bank are set to dominate the economic calendar in the coming week, with the U.S. central bank widely expected to raise interest rates, in what would be its second hike this year.
The breakaway gap in the Euro (in this article, we use “Euro” to refer to the currency pair EUR/USD) on the 24th of April 2017 on the back of positive first round French election results that weekend broke through a resistance trendline from 2014, a 5-month ascending triangle and the 200-day moving average. It heralded a reversal in the trend of the Euro and what followed was a near 1-year rally that took the price from 1.087 to a high of 1.2558, a rise of 15.5%. After consolidating in a symmetrical triangle, the Euro broke to the downside and has been falling for over a month now.
Investing.com - The euro extended early gains on Thursday, rising to a three week high boosted by expectations that the European Central Bank will soon start to soon start to unwind its monetary stimulus program.
Market Focus, Key findingsECB’s Weidmann says first ECB Rate Hike could follow the end of Quantitative Easing more closely than in the USAIndustrial Producer Prices rose by 0.1% in the EURO AREA (EA19) and by 0.2% in the EU28European Commission forecasts EURO ZONE inflation will accelerate to 1.6 pct YoY in 2019 from 1.5 pct YoY seen in 2018
Investing.com - The euro gained ground on Thursday, building on the previous day’s gains after hawkish European Central Bank comments fueled expectations that it will soon start scaling back its monetary stimulus program.
Investing.com - The euro fell to the day’s lows on Tuesday amid fresh fears over political developments in Italy, while the Canadian dollar dropped to two-month lows amid fresh trade concerns and oil price declines.
The euro turned positive on Tuesday following reports that the European Central Bank would use its next policy meeting to discuss an exit from its quantitative easing program. Expectations for the ECB to normalize its monetary policy had waned in recent months as European economic data was sluggish and political developments in Italy took center stage. Market participants questioned whether the ECB could afford to halt bond buys if the economic recovery was slowing and Italy's government was euroskeptic.
Eurozone inflation that’s creeping up toward the European Central Bank’s target and Italy’s political crisis could pull policy makers in opposite directions, and the struggle could spell further weakness for the euro. Core inflation stood at 1.1%, higher than the 1% number expected.
Though there still remains a significant amount of uncertainty, recent populist movements in Italy have created the possibility of ending the national use of the Euro. Naturally, as a nation of over 60 million and the third largest nation in the Eurozone (after Germany and France), Italy’s abandonment of the Euro could spark a wide variety of far-reaching changes.
Investing.com - The euro moved higher on Thursday, building on the previous days strong gains amid optimism that the political impasse gripping Italy can be resolved without fresh elections.
Investing.com -The euro rebounded from ten month lows against the dollar on Wednesday, erasing the previous day’s losses as financial markets recovered from a steep selloff sparked by political turmoil in Italy.
Investing.com -The euro rose back above the $1.16 level on Wednesday as it recovered after falling to multi-month lows the previous day as fears over political turmoil in Italy roiled markets.
Investing.com - The euro bounced off the worst levels of the day on Tuesday after comments by the leader of Italy’s Five Star political party calmed investors’ concerns over the prospect of an Italian exit from the euro zone.
The start of the week’s trading took place around excitement in the political situation in Italy and the unsuccessful attempts of Crude Oil to rebound.
Investing.com - The euro fell to its lowest level since November against the dollar on Tuesday as political turmoil in Italy and Spain weighed, while the safe haven yen posted broad gains amid widespread risk aversion.