Euro Regains Momentum Against US Dollar Amid EU Economic Recovery
Euro soared back to 1.18 level as Bloomberg reported that European Central Bank is more confident in economic recovery. This is because European economic forecasts are steady since June. Euro plunged sharply earl this week amid concerns over the potential ECB’s interference to half the common currency rally.
US Dollar Gains Extends into Seventh Straight Day, Gold and Stocks Fell Sharply
US Dollar soared robustly in the past six sessions in a row as coronavirus infections have been steadily declining over the past month. In addition, strong economic data from all over the world is adding to investor’s sentiments. Some investors blame the selloff in British Pound and Euro value backed the US dollar value upside.
USD Index Remains Range Bound on Shrinking Short Bets
The USD index continues trading in a tight range around 93 levels amid bullish economic reports that are offsetting Federal Reserve’s low-interest-rate policy. The USD index recovered from twenty-seven months low last week as US jobs came in better than expectations. Strong services and manufacturing data is also adding to investor’s sentiments.
USD Index Lost Upside Momentum, Gold and Euro Soars
USD index retreated from one week high that it had hit on Thursday as the market analysts are still bearish over the greenbacks future fundamentals. The concerns over US economic growth and Federal Reserve’s low-interest-rate policy is among the biggest bearish factors for the USD index.
US Dollar Gains on Economic Recovery, Euro Fell on Short Bets
US dollar soared for the second day in a row as investors have started showing confidence in the US economy as economic data have robustly improved in the past two months.
US Dollar Index Move Back Above 92, Euro Hit $1.20
Although the US dollar index moved above the 92 level on Wednesday against the basket of six major currencies, the market analysts anticipate the greenback will remain in a bear mode for a long time due to Federal Reserve’s easy policies.
US Dollar Could Fall 36% Against Euro, Analyst Claims
US dollar has been under pressure over the past six months due to the massive level of coronavirus related economic devastation in the United States. The greenback has lost a lot of value against the euro and other major currencies, but analysts believe it’s just the beginning of a declining story.
US Dollar Plunge to Fresh 27 Months Low on Fed’s Dovish Stance
US dollar fell sharply in Friday trade after Federal Reserve’s Chairman Jerome Powell announced to hold interest rates at the current level and intentionally increase the inflation rate above the targeted 2% level to support the economic recovery.
FX Technical Report – Week Ahead
Technical Report Ahead of Week Beginning on the 31st of September Key Ideas Summary EUR/USD – Long Bias USD/CAD – Short Bias GBP/JPY – Long Bias Please refer to analysis below for further explanation and chart visualisations. EUR/USD As illustrated it the image above, EUR/USD has been trading in a slight upwards channel structure. […]
US Dollar Fell After Fed’s Powell Speech, Euro Stabilizes
US dollar fell back below 93 levels on Friday as investors have started showing concerns over Federal Reserve’s new monetary policy that is likely to lift inflation. Fed Chairman Jerome Powell said Central bank’s policy of improving the employment numbers could negatively impact inflation numbers in the coming days.
US Dollar Index Fell Below 93 Level As Investors Awaits Fed’s Powell Speech
US Dollar index plunged below the 93 after generating gains in the past couple of days. The latest selloff is prompted by the trader’s concerns over Fed’s chairman speech at Jackson Hole conference. Besides the Fed, the US dollar received strong support from economic data.