No problem — we will send you a password reset link to your registered email
Still no joy? Contact us
Thanks — all done!
Please check your inbox and follow
the instructions
Still no joy? Contact us
... and now a few questions so we can create your bespoke configuration
(we will email it to you)
You can answer the questionnaire later, or choose the default TradeRadius profile if you prefer
You Are Subscribed To TradeRadius News!
Link is expired. Please try again.
Your comment has been sent for moderation.
You are skipping the configuration step. It means we will apply default Quant Model configuration to your account. You will be able to answer the questions later. If you would like to get personalized configuration, please, answer on the questionnaire
live commentary Post
Euro remains on the defensive below 1.0900, looks at US data
By TradeRadius | Thu, 31 Aug 2023 10:01:24 UTC
The selling pressure around the Euro (EUR) remains well and sound against the US Dollar (USD), forcing EUR/USD to break below the key 1.0900 figure and revisit the vicinity of the 1.0860 region on Thursday.
In the meantime, the Greenback recovers, prompting the USD Index (DXY) to bounce off Wednesday’s two-week lows in the 103.00 neighbourhood. Furthermore, US yields are declining across the curve, as investors’ reprice a pause in the Fed’s normalization process for the next few months.
In the meantime, the narrative surrounding the Federal Reserve’s (Fed) tighter-for-longer stance appears to have dwindled following the recent weaker-than-expected economic data.
By contrast, there is no news around the European Central Bank (ECB) regarding its potential decision on rates once the summer season is over.
In the domestic calendar, Retail Sales in Germany contracted 0.8% MoM in July and 2.2% over the last twelve months. Still in Germany, the Unemployment Change increased by 18K individuals in August and the Unemployment Rate ticked higher to 5.7%. Looking at the broader euro area, advanced inflation figures saw the headline CPI rise 5.3% YoY and 5.3% YoY when it comes to the Core CPI. Later in the session, the ECB will publish its Accounts for the July 27 meeting.
In the US docket, all the attention will be on the release of inflation tracked by the PCE and Core PCE for August, seconded by usual Initial Jobless Claims, Personal Income, Personal Spending and the speech by Boston Fed Chair Susan Collins.
Daily digest market movers: Euro could revisit the 200-day SMA
Technical Analysis: Euro's upside appears limited near 1.0950
The three-day rebound in EUR/USD seems to have met quite a decent obstacle ahead of the 1.0950 region.
In case bulls regain the upper hand and EUR/USD surpasses the weekly top of 1.0945, the pair is expected to meet the provisional 55-day Simple Moving Average (SMA) at 1.0967 prior to the psychological 1.1000 barrier and the August top at 1.1064 (August 10). Once the latter is cleared, spot could challenge the July 27 peak at 1.1149. If the pair surpasses this region, it could alleviate some of the downward pressure and potentially visit the 2023 peak of 1.1275 seen on July 18. Further up comes the 2022 high at 1.1495, which is closely followed by the round level of 1.1500.
The resumption of the downward bias could motivate the pair to initially test the key 200-day SMA at 1.0813 ahead of the August low of 1.0765 (August 25). The breach of the latter exposes the May 31 low of 1.0635 prior to the March 15 low of 1.0516 and the 2023 low at 1.0481 seen on January 6.
Furthermore, sustained losses are likely in EUR/USD once the 200-day SMA is breached in a convincing fashion.
Partners News
Elon Musk predicts crewed SpaceX flights to Mars by 2028, hopes for 'self-sustaining city' on planet
Fox News contributor Charles Hurt on why Democrats 'love' debt and the 'interesting' Musk-Trump interview on X. SpaceX founder Elon Musk made bold predictions about human life on Mars in a series of social media posts on Saturday.
By TradeRadius | 1 Hours Ago
Former President George W. Bush has no plans to endorse in the election
Former President George W. Bush does not plan to endorse a candidate for president, his office told NBC News on Saturday. When asked whether the former president or his wife, Laura, would endorse a candidate or make public how they will vote, Bush's office said "no."
By TradeRadius | 1 Hours Ago
Chinese giant Chery could build cars in UK
Chinese car giant Chery is weighing up the possibility of building cars in the UK, according to a senior executive. Its UK head Victor Zhang told the BBC it was a "matter of time" before the company made a final decision.
By TradeRadius | 2 Hours Ago
Yellen says U.S. economy remains solid, on path to 'soft landing' with no meaningful layoffs
Federal Reserve Chair Jerome Powell said in August that the U.S. economy might be ready for an interest rate cut.
By TradeRadius | 2 Hours Ago
Manufacturer recalls 1.5 million Ram pickup trucks over software issue
FOX Business’ Jeff Flock reports on the latest news emerging from the auto industry as data reveals insurance prices have surged year-over-year. Stellantis, an automotive manufacturer, is recalling around 1.5 million Ram pickup trucks due to a software issue that can disable a vehicle's e...
By TradeRadius | 3 Hours Ago
Brazilians rally to protest supreme court judge’s decision to ban X
Demonstrators say ruling by Alexandre de Moraes is unconstitutional assault on free speech
By TradeRadius | 4 Hours Ago
Contact Lenses Market to Expand by USD 4.99 Billion (2023-2027) Driven by Rising Myopia Rates, AI-Enhanced Report by Technavio
NEW YORK, Sept. 6, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global contact lenses market size is estimated to grow by USD 4.99 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of over 5.58% during the forecast period. Gr...
By TradeRadius | 4 Hours Ago
Medical Exoskeleton Market to grow by USD 2.87 billion from 2024-2028, driven by rising spinal cord injury cases, AI-powered report- Technavio
NEW YORK, Sept. 6, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global medical exoskeleton market size is estimated to grow by USD 2.86 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 55.77% during the forecast pe...
By TradeRadius | 4 Hours Ago
CHiQ Renews Sponsorship of FIS World Cup Events, Welcomes Skiing Champion Andreas Wellinger as New Brand Ambassador
BERLIN, Sept. 7, 2024 /PRNewswire/ — On September 6, coinciding with the opening of the IFA 2024, CHiQ held a ceremonial signing at its booth, reaffirming its partnership with the FIS World Cup Events and the German Ski Association (DSV). The move strengthens CHiQ’s foothold in the skiing world ...
By TradeRadius | 4 Hours Ago
Marathon Petroleum Corp. to Report Third-Quarter Financial Results on November 5, 2024
FINDLAY, Ohio, Sept. 6, 2024 /PRNewswire/ — Marathon Petroleum Corp. (NYSE: MPC) will host a conference call on Tuesday, November 5, 2024, at 11 a.m. EST to discuss 2024 third-quarter financial results.
By TradeRadius | 4 Hours Ago
Subscribe to get news