EUR/USD: Lacking a clear catalyst for another leg higher unless US data disappoints today – ING
Source Fxstreet
EUR/USD consolidates in the 1.0800-1.0900 range. Economists at ING analyze the pair’s outlook.
Re-strengthening of the Dollar expected around Thursday’s US PCE
EUR/USD has found support since the start of this week, although it is now lacking a clear catalyst for another leg higher unless US data disappoints today.
The Eurozone calendar only includes money supply figures today, and our expectations for a re-strengthening of the Dollar around Thursday’s US PCE release makes us sceptical of the sustainability of a EUR/USD rally at this stage.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold Price Forecast: XAU/USD climbs above $4,250 as Fed rate cut weakens US DollarGold price (XAU/USD) rises to seven-week highs near $4,275 during the early Asian session on Friday. The precious metal extends its upside as the US Federal Reserve’s (Fed) quarter-point rate cut drags the US Dollar (USD) lower.
Gold price (XAU/USD) rises to seven-week highs near $4,275 during the early Asian session on Friday. The precious metal extends its upside as the US Federal Reserve’s (Fed) quarter-point rate cut drags the US Dollar (USD) lower.
Analysts predict Bitcoin may face further declines towards the $70,000 mark if the Bank of Japan raises interest rates as expected.
Gold price (XAU/USD) edges lower below $4,350 during the Asian trading hours on Thursday. The precious metal retreats from seven-week highs amid some profit-taking and a rebound in the US Dollar (USD).
Bitcoin ascended to $90,000 before a swift correction, impacting both long and short positions.Liquidity maneuvers continue to dominate BTC's short-term price dynamics, with recent sessions squeezing short sellers.
The Bank of Japan (BoJ) will announce its interest rate decision between 03.30 and 05.00 GMT, followed by Governor Kazuo Ueda's press conference at 06.30 GMT.
