If our love (for USD) is tragedy, why is EUR/USD at parity?
No tragedy to see right here, however we do should pay nearer consideration to EUR/USD buying and selling close to the large 1.0000!
Earlier than shifting on, ICYMI, yesterday’s watchlist checked out EUR/JPY’s Double Backside breakout after BOJ Gov. Kuroda confirmed the central financial institution’s plans to stay to its accommodative insurance policies. Make sure you try if it’s nonetheless a sound play!
And now for the headlines that rocked the markets within the final buying and selling periods:
Recent Market Headlines & Financial Knowledge:
Europe on excessive alert as Russia briefly halts gasoline flows by way of main pipeline
UK PM Johnson’s substitute to be introduced on Sept 5
BOE Gov. Bailey: sharp inflation slowdown in 2023 nonetheless probably
Liquidators for crypto hedge fund Three Arrows Capital say they will’t discover founders
Failure to implement Russian oil worth cap might jack up costs to $140 per barrel – US Treasury official
BRC: UK retailers see greatest quantity decline since pandemic as inflation bites
Hong Kong wants to permit free journey to retain monetary hub standing – report
Japan producer costs bounce 9.2% from a 12 months earlier in June vs. 9.3% uptick in Might
Australia’s shopper sentiment slides additional in July (-3.0%) amid inflation gloom
White Home expects “extremely elevated” however “old-fashioned” June CPI
Asian shares fall to two-year low; euro nears par with greenback on development fears
Eurozone and Germany’s ZEW financial sentiment at 9:00 am GMT
BOE Gov. Bailey to offer a speech at 5:00 pm GMT
RBNZ’s coverage determination at 2:00 am GMT
China’s commerce stability scheduled throughout the Asian session
Use our new Forex Warmth Map to rapidly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️
What to Watch: EUR/USD
In case you didn’t catch our reference to Zedd’s Readability, don’t fear!
All you want to know is that EUR/USD is a hair’s breadth away from the large 1.0000, which is a stage that the pair hasn’t reached since December 2002.
That’s in regards to the time we have been cheering Aragorn on the Battle of Helm’s Deep within the second The Lord Of The Rings film!
An precise take a look at of parity ranges might encourage a bounce as tons of merchants in all probability have their stops just below the psychological stage.
Until we see market-changing information updates, although, it’s probably that danger sentiment will proceed to take heart stage right now.
Particularly, merchants will proceed to cost in power disaster issues within the Eurozone and USD-friendly speculations that the Fed would flip much more hawkish subsequent week.
How low can EUR/USD go? Watch how the pair reacts to 1.0000 and see if intraday bounces can present alternatives to experience EUR’s downtrend.
If U.S. session merchants undertake a risk-friendly buying and selling surroundings, although, then gotta be able to commerce a wider bounce from 1.0000.
What do you suppose? Which approach will EUR/USD go right now?