EUR/USD was marked by thin trading yesterday (October 29th), as Hurricane Sandy made landfall and slammed the US northeast coast, causing major floods and severe damage in its wake. Over in Europe, the ongoing crises in Greece and Spain continue to unnerve the markets. Media reports that a deal has been reached between the Greek government…
EUR/USD slid in range and lost the 1.30 line once again, as the debt crisis issues saw no progress, and as Germany looks weaker. President Draghi’s speech German retail sales and a meeting of the Eurogroup are the major events this week. Here is an outlook on the market-movers ahead. Further EU weak data was…
EUR/USD put the brakes on this week’s slide after the US Federal Reserve policy meeting on Wednesday. Analysts were keenly attuned to the meeting, as it was the first since the Fed implemented QE3. The Fed expressed cautious optimism about the US economy, and, as expected, maintained its benchmark interest rate at 0%-0.25%. There is confusion in the markets…
The EUR/USD, which had an impressive rally just last week, continues to lose ground, after the release of disappointing data this morning. Manufacturing and Service PMIs out of Germany and the Euro-zone were weak, and the German Ifo Business Climate failed to reach the market estimate. ECB President Mario Draghi is scheduled to hold meetings and a press conference at the Bundestag…
The EUR/USD has lost ground, and is testing the critical 1.30 line. The markets continue to focus on developments in Spain. PM Mariano Rajoy received a major boost over the weekend as his center-left Popular Party increased its majority in regional of Galicia. The good news was short-lived, however, as Moody’s cut the credit ratings of Catalonia and…
EUR/USD enjoyed hopes for progress in the debt crisis and advanced within its range. With no real breakthroughs, the pair didn’t break critical resistance. Is it set to fall now? Public appearances by Mario Draghi, German Ifo Business Climate and the forward looking Flash PMI’s are the main events . Here is an outlook for…
After a strong rally this week, EUR/USD is steady, as 27 European leaders are meeting in Brussels for the European Economic Summit. Will the euro’s momentum continue after the Summit? Spain received a dose of good news after the Moody’s credit agency maintained the country’s credit rating, and Spanish bond prices have fallen since the announcement. In the US, the economy…
EUR/USD pushed over the 1.30 line, after better than expected data of the US and Germany. German Consumer Sentiment hit a five-month high, and in the US, Retail Sales and Core Retail Sales climbed 1.1%, well above the estimate. A story in the Wall Street Journal that Spain will ask for aid sooner rather than…
Euro/dollar slid within the range in a week that saw a deterioration in the global mood. The upcoming week features the highly anticipated EU Summit among other events. Will we see progress with Spain and Greece? Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD. Spain’s credit downgrade by S&P…