Sleeping Euro continues to trade in a tight range below 1.1000 EURUSD Eurozone Technical Analysis Fundamental Analysis
From a technical perspective, the Euro-Dollar pair is in a medium-term uptrend which is biased to extend. Scoping in, price action appears to be coiling to a point, and the diminishing volatility could be the precursor for a breakout move on the horizon., the Fed’s Beige Book, stated, “Economic activity was little changed in recent weeks.”
Unexpectedly strong first quarter earnings from big US banks like JP Morgan and BofA help bandage the wounds from the sector’s crisis in March, further supporting the Greenback. The Euro remains supported by expectations that the ECB will continue with interest rate hikes, though their size will be data-dependent.
If price pierces below 1.0909 it would probably confirm the triangle was breaking lower whilst a breach of the 1.0999 April 17 high that it was higher. for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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