The Euro recoiled from twelve-month down trend resistance against the US Dollar, validating earlier signs of ebbing upside momentum. Confirmation of a larger top implying continuation downward is still pending however as prices test the bounds of the short-term uptrend. A daily close below trend line support at 1.0934 opens the door for a test of the 23.6% Fibonacci retracement at 1.0862. Alternatively, a break above major resistance at ...
Following Emmanuel Macron winning the run-off in the French Presidential against rival Marine Le Pen, the euro rallied to a six-month high against the U.S. dollar as concerns over France’s future in the Eurozone eased. Focus now shifts to elections for the 15th National Assembly on 11 and 18 June. more...
The employment recovery that began under President Barack Obama shows little sign of slowing down under his successor: new hiring data out Friday morning shows the U.S. economy added jobs for the 79th consecutive month, and that the unemployment rate has dropped to its lowest level in 10 years. more...
EUR/USD drifted to the upside, driven by the dollar’s weakness. Is there more to come? The big event of the upcoming week is the French elections, followed by the ECB decision. French Presidential Elections: Sunday, exit poll expected before markets open, but full results could wait for Monday morning if the race is very close.German Ifo Business Climate: Monday, 8:00. Germany’s No. 1 Think-tank reported a rise in business confidence, ...
EUR/USD managed to rebound from the lows ahead of Easter, getting back to the range. Will it stay there? Inflation figures and PMIs stand out ahead of the French elections. CPI (final): Wednesday, 9:00.Trade Balance: Wednesday, 9:00. A higher surplus is likely now.German PPI: Thursday, 6:00.Flash PMIs: Friday morning: 7:00 for France, 7:30 for Germany and 8:00 for the whole euro-zone.Current Account: Friday, 8:00. ...
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