EUR/USD remains stable as US shutdown agreement progresses, focus on Eurozone outlook
Market Update on EUR/USD As of Monday, the EUR/USD pair was trading around 1.1560, showing little change throughout the day. The U.S. dollar is gaining traction following a Bloomberg report that several centrist Senate Democrats have come together to support a plan aimed at ending the government shutdown. This agreement would allocate funding to various […]
EUR/USD reduces its gains following weak Eurozone consumption data
EUR/USD Update: Market Movements The EUR/USD has retraced from a trading peak of about 1.1525, following an unexpected dip in euro area retail sales. Currently, it’s trading at 1.1515. The market did experience a recovery from a three-month low earlier in the week, largely influenced by easing concerns surrounding the U.S. tech sector and more […]
European FX news summary: Eurozone CPI decreases, core remains at 2.4%
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EUR/USD holds steady after recent declines before Eurozone inflation announcement
The EUR/USD currency pair stayed mostly unchanged on Friday, resting at around 1.1570 and did not move much from its recent two-month low of 1.1540. Inflation data from the Eurozone didn’t offer much encouragement to investors. Meanwhile, the dollar was gathering strength, supported by a lackluster market and diminishing prospects of a Federal Reserve interest […]
EUR/USD holds steady at lower levels as Eurozone PMIs take center stage
The EUR/USD exchange rate has bounced back from earlier losses, now hovering around 1.1615, largely due to encouraging business activity reports from Germany and the eurozone. On the daily chart, it seems relatively stable. Still, the currency pair is somewhat stuck in a range from the previous days, with many traders now looking ahead to […]
EUR/USD rises as the US Dollar weakens ahead of Eurozone inflation data
The EUR/USD has seen a fourth consecutive day of increases, trading around 1.1720 as of Friday. This marks the best weekly performance for the currency pair in three months. Concerns over the ongoing US-China trade war, alongside indications that the Federal Reserve may cut interest rates twice in its next meetings, are putting downward pressure […]
EUR/USD stabilizes near peak levels after Eurozone Industrial Production figures
On Wednesday, EUR/USD showed strong demand, bouncing back from a two-month low of 1.1542 earlier in the week to just under 1.1650. Surprisingly, the euro seems to have largely ignored a drop in industrial production across the eurozone, which just came in at a decline of 1.2% for August. This decline, mainly driven by a […]
Luxembourg Takes Pride in Being the First Eurozone Country to Invest in Bitcoin
Luxembourg’s Investment in Bitcoin ETFs Luxembourg’s sovereign wealth fund has made a notable move by investing 1% of its assets in Bitcoin ETFs. This decision makes it the first national fund in the eurozone to venture into such investments, as shared by a spokesperson from the Luxembourg Financial Center Development Authority. Other European nations, including […]
What is the timing of Eurozone Prelim HICP inflation and how might it influence EUR/USD?
Eurozone Inflation Update Official data from EuroStat released on Wednesday indicated a rise in the Harmonized Index of Consumer Prices (HICP), which saw an annual increase of 2.2% in September, compared to a 2% rise in August. The market had anticipated a reading of 2.2%. Core HICP also grew, hitting 2.3% year-on-year in September, up […]
EUR/USD pulls back from peaks as attention shifts to Eurozone preliminary PMIs
Euro Finds Stability Above 1.1800 Mark After Mixed PMI Data The euro recovers to around 1.1785, moving above the 1.1800 threshold following a mixed bag of Eurozone flash PMI results. While the Eurozone’s manufacturing sector showed an unexpected decline in September, the services sector experienced growth. Looming later in the day are US flash PMIs […]