|Day's Range||1.13 - 1.133|
|52 Week Range||1.1223 - 1.2558|
Investing.com - This week investors will have their attention firmly focused on monetary policy as the Federal Reserve, the Bank of England and the Bank of Japan issue updates at a time of increased market volatility.
Ahead of the meeting, investors are expressing concerns about the U.S. economy and whether the Fed would hike further after December. As recent as September, the Fed came out as a little too optimistic about the economy next year. At this meeting, they may come down a little on their assessment of future economic growth. Investors aren’t expecting anything new from the Bank of Japan (BOJ). Look for policymakers to leave its benchmark rate unchanged at -0.1%. Japan is also scheduled to release its latest inflation data. The Bank of England (BOE) is expected to keep interest rates unchanged at Thursday’s meeting. Policymakers are holding back on raising rates at this meeting because of recent mixed economic data and fears over Brexit.
It’s an action packed week ahead, with Brexit, the FED, the BoE, China’s CEWC and a slew of economic data to drive the markets and let’s not forget Trump…
Last week, the U.S. government reported on producer and consumer inflation, two factors the Fed will consider this week when deciding on future monetary policy. Investors also had the opportunity to respond to last month’s retail sales data. The dollar’s gains last week may have been limited by increased bets the Federal Reserve might reduce the number of interest rate hikes after a widely expected 25-basis point rate increase next week.
The Euro fell during the week, reaching towards the bottom of the consolidation that we are currently in. However, what you don’t see on this chart, and you do see on the daily chart, is that we broke down below the bottom of a symmetrical triangle. That of course is a negative sign.
The Euro breaks down significantly during the trading session on Friday, showing just how precarious things are at the moment. There are a lot of concerns about the Brexit, and of course this will affect not only the United Kingdom, but also the European Union.
Investing.com - The U.S. dollar was higher on Friday after better-than-expected retail sales and amid expectations that the Federal Reserve will raise rates next week.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.56% to 97.60 as of 10:02 AM ET (15:02 GMT).Retail sales accelerated in November, with core retail sales up 0.2%, alleviating fears of a slowing U.S. economy.Meanwhile investors are focused on an upcoming meeting of the U.S. central bank, which is expected to increase rates, with a 79. ...
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the Fibonacci level at 1.1315. With the Fed raising rates next week and the economy showing signs of weakening in China and the Euro Zone, it’s going to take a lot to turn the EUR/USD around so our bias is likely to be toward the downside today.
The U.S. dollar was higher on Friday, as investors turned their focus to the expected Federal Reserve rate increase next week, even as uncertainty over next year’s hikes kept gains in check. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.5% to 97.52 as of 5:20 AM ET (10:20 GMT). "There is a lot of disagreement in the markets over the Fed's rate hike course in 2019 with traders expecting anywhere between one to four rate hikes," said Michael McCarthy, chief markets strategist at CMC markets.
The Euro continued to trade sideways during the Thursday’s session, as the market looks confused with the Federal Reserve’s stance and some of its comments lately on the interest rate hike. The 1.13 level underneath and 1.1450 level above will be the major support and resistance point for the market. The British Pound rallied a bit during yesterday’s session but is likely to experience significant resistance above as both 200 Day EMA line and 1.27 level has turned resistive.
the pair plays tug of war for upper hand as both sides lack decisive factor to push a breakout price action while fundamentals so far favor EUR bulls.
Some weak numbers out of China this morning weighed on the Aussie Dollar and Kiwi Dollar early, with a busy economic calendar putting focus on the EUR & USD
The euro slipped earlier in the session, after European Central Bank President Mario Draghi sounded more downbeat than expected in the central bank’s last news conference of the year. The ECB left interest rates unchanged, as expected, and confirmed it would wind down its quantitative easing efforts at the end of the month. “The slightly dovish tone of the update put pressure on the single currency,” said David Madden, market analyst at CMC Markets.
Mario Draghi says the European Central Bank is confident on the outlook for inflation but signals caution on the economic outlook as the institution pulls the plug on monthly asset purchases, the centerpiece of its quantitative easing program.
Investing.com - The U.S. dollar was higher on Thursday, as the number of people who filed for first-time unemployment benefits hit a two-and-a-half month low.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.19% to 97.20 as of 10:18 AM ET (15:18 GMT).The dollar was boosted after the U.S. Department of Labor said that the number of individuals applying for initial jobless benefits in the seven days ended Dec. 8 decreased by 27,000 to a seasonally adjusted 206,000. ...
Investing.com - Despite the fact that the European Central Bank decided to pause on its asset purchase program, its president, Mario Draghi, warned that risks were leaning to the downside, sending the euro briefly to intraday lows.
The Euro continues to go sideways overall during the trading session on Thursday, as we tighten up and have nowhere to go. We are in massive consolidation, and between now and the end of the year that isn’t changing.
Based on the earlier price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the 50% level at 1.1345.
European Central Bank President Mario Draghi speaks about the effect of geopolitical uncertainty, protectionism and market volatility on the European economy.
CNBC’s Wilfred Frost reports on U.K. Prime Minister Theresa May’s confidence vote victory amid uncertainty around the future of her leadership and Brexit.
Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets, discusses the European Central Bank's decision to end its quantitative easing program.
Michael Krautzberger, head of European fixed income at BlackRock, discusses the European Central Bank's latest monetary policy decision.
Antonio Garcia Pascual, chief European economist at Barclays, discusses what to expect from the European Central Bank going into 2019.