Germany's consumer price inflation jumped To 7.3% to its highest level highest since 1981. The consumer price index rose 7.3 percent year-on-year, after a 5.1 percent increase in February, preliminary data from Destatis showed Wednesday. Economists had forecast a 6.3 percent inflation. The chart (above) was made using Metatrader 5 with Simple BrainTrading Ichi trading system (this trading system is attached to the post as zip archive). ...
Fed Delivers as Expected, USD Selling Exacerbated by Month-End Flows. Stretched Euro Positioning Reduces the Appeal in the Short Term. EUR/USD holding patten as markets await September breakout. US Dollar selling the dominant theme. more...
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The agreements by EU leaders on a budget and a recovery fund have given EUR/USD a boost and prepared the ground for a further advance that could take the pair back to its autumn 2018 highs. However, traders should watch out for a possible retracement first as the pair is now technically overbought. Having broken above the 1.15 level, EUR/USD is well placed to challenge the 1.1621 high reached in October 2018. However, a pullback is possible ...
The European Council President is expected to propose a more modest EU budget this week. The Council is hoping EU leaders will agree to it at a summit later this month but wrangling over how best to help the weaker members from the Covid-19 pandemic will likely continue. Unless the EU governments can sort out their disagreements soon, a drop is likely in EUR/USD in this year’s third quarter. more...
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