EURUSD

Terry_8

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Mar 23, 2020
169
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EURUSD EDGES MILDLY LOWER AMID RISK-OFF MARKET MOOD

The single currency edges mildly lower versus its US counterpart in the early Asian hours on Monday in response to the risk-off mood prevailing in the market. Besides, investors remain cautious on rising tensions between US and China following reports that Trump Administration is planning to impose export restrictions on China’s biggest semiconductor manufacturer i.e. SMIC.
As of this moment, EURUSD is trading at 1.1830, marginally down by 0.04%.
Coming onto the previous session, the currency pair initially dipped to the low of 1.1780 level post the release of US data which showed that Unemployment rate reduced and came at 8.4% better than the forecast of 9.8% while the Average Hourly Earnings stood at 0.4% versus the consensus of 0.0%. However, the pair was quick to rebound from the day’s low amid worries of fiscal standoff that weighed on the greenback. Consequently, the pair concluded the session at 1.1835, mildly lower by 0.13%.
Moving ahead, US observes holiday on the eve of Labour Day. Therefore, investors can take cues from the Eurozone Sentix Investor Confidence Reports slated for today

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Terry_8

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Mar 23, 2020
169
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EURUSD STRUGGLES TO STAY AFLOAT ABOVE 1.18 HANDLE, FOCUS ON EUROZONE REVISED GDP

The single currency slides for the sixth consecutive session versus its US counterpart ahead of the London open. An array of negative sentiments were witnessed among investors in response to the dovish expectations by the European Central Bank and the fresh Brexit tensions. Concerns renewed after media outlets stated that UK’s Prime Minister Boris Johnson intends on modifying the Brexit deal unilaterally which was signed earlier in January. The news weighed on investors sentiments and is keeping bulls at bay for EURUSD.
As of now, the currency pair is trading at 1.1808 level, marginally down by 0.03%.
Coming onto the previous session, the single currency came into selling pressure owing to the risk-off mood prevailing in the market. This was due to the rising tensions between the US and China following reports that the Trump Administration is planning to impose export restrictions on China’s biggest semiconductor manufacturer. Besides, the German Industrial Production came at 1.2% in July, worse than the market expectation of 4.5%. As a result of which, the pair settled the day at 1.1811, down by 0.20%.
Moving ahead, investors can take cues from the Eurozone Final Employment change data and Revised GDP reports slated for today.

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Terry_8

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Mar 23, 2020
169
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50
EURUSD NUDGES MILDLY HIGHER AFTER SIX-DAY LOSING RUN

EURUSD edges mildly higher after having defended the support at 1.175 handle in the early Asian hours on Wednesday. EURUSD manages to gather mild bids despite risk-off sentiments prevailing in the Asian markets owing to the delay in Astra-Zeneca’s coronavirus vaccine and mounting US-China trade tensions.
As of this moment, the currency pair trades flat to positive at 1.1778 level, representing gains of 0.04%.
Coming onto the previous session, EURUSD came into intense selling pressure in response to the increased Brexit tensions after the UK intended on modifying the Brexit deal unilaterally which was signed earlier in January. Besides, the Eurozone Final Employment Change data and the Italian Retails Sales report came much worse than expectations. On the contrary, the US published an upbeat NFIB Small Business Index which supported the demand for greenback thus, exerting additional pressure on the single currency. Consequently, the pair settled the day at 1.1774, down by 0.04%.
Moving ahead, investors can take cues from the US JOLTS Job Opening report scheduled to be released later in the day.

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Terry_8

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Mar 23, 2020
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EURUSD SURGES AHEAD OF EUROPEAN CENTRAL BANK’S MONETARY POLICY DECISION

The single currency surges versus its US counterpart in the early Asian hours on Thursday as investors await the European Central Bank’s policy decision slated for today. There’s a conviction in the market that the central bank will keep its policy tools unchanged, but is equipped to loosen policy if necessary.
As of now, the currency pair is trading at 1.1821 level, representing a gain of 0.16%.
Coming onto the previous session, the currency pair initially succumbed to selling pressure, bottoming to the 1.1752 level for the day. The market mood soured owing to the delay in Astra-Zeneca’s coronavirus vaccine and mounting US-China trade tensions which weighed on the single currency. However, in the American session, the pair was quick to rebound from the day’s low following news that ECB policymakers seemed optimistic about the region’s pace of economic recovery which will potentially reduce the requirement of additional stimulus this year. Consequently, the currency pair settled the day at 1.1802 level, up by 0.24%.
For the day ahead, investors should closely follow the ECB’s Monetary Policy Decision and the speech of ECB President Lagarde slated for today. On the other hand, the US will publish PPI data and the Unemployment Claims report

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Terry_8

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Mar 23, 2020
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EURUSD EXTEND GAINS POST ECB’S OPTIMISM ON EUROZONE’S ECONOMY

EURUSD continues to remain on the front foot in the early Asian hours on Friday in the aftermath of the European Central Bank’s meeting wherein policymakers seemed optimistic about the region’s pace of economic recovery. However, risk aversion prevailing in the Asian markets owing to the US Senate Republicans' failure to advance a fresh coronavirus stimulus bill is weighing on investors’ sentiments thus, limiting gains in EURUSD.
As of now, the currency pair is trading at 1.1835 level, representing gains of 0.18%.
Coming onto the previous session, the currency pair peaked 1.1917 level in response to the announcement by the closely watched ECB’s monetary policy statement. As anticipated, the bank left its current monetary policy unchanged but depicted an optimistic view regarding the Eurozone economy. Besides, Lagarde stated that there has been a significant rebound in the Eurozone’s macroeconomic activity. However, later in the American session, the pair reverted from the day’s high amid losses in the financial markets and broad-based USD buying. Consequently, the pair settled the day at 1.1814 level, down by 0.10%.
Moving ahead, investors can take cues from the Italian Unemployment report and Euro group meeting slated for today. Later in the day, the US will publish CPI data for some short term trading impetus

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Terry_8

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Mar 23, 2020
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EURUSD CONTINUES TO REMAIN ON FRONT FOOT AMID CORONAVIRUS VACCINE HOPES

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EURUSD advances at the start of the new week as optimistic news regarding the coronavirus vaccine boosted market sentiments. The drugmaker AstraZeneca notified that it has resumed its trial for the coronavirus vaccine in the UK after the trial was supposedly halted last week in response to the adverse reaction in one of the participant.

As of now, the currency pair is trading at flat to positive at 1.1849 level, up by 0.05%.

Coming onto the previous session, EURUSD peaked at 1.1810 level in the aftermath of the European Central Bank’s meeting wherein policymakers seemed optimistic about the region’s pace of economic recovery. However, the single currency pared some of its gains in the American session after the release of upbeat US CPI reports which can at 0.4% against the forecast of 0.3%. Consequently, the pair concluded the session at 1.1843 level, down by 0.25%.

Moving ahead, investors can take cues from the Eurozone Industrial Production data slated for today.

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Terry_8

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Mar 23, 2020
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EURUSD GAINS AMID BROAD-BASED USD WEAKNESS, EYES ON EUROZONE ZEW SURVEY

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EURUSD surges for the fourth consecutive session on Tuesday, courtesy to the broad-based weakness in the US dollar and the prevailing risk-on sentiments in the Asian markets. The market mood was lifted in response to the upbeat Chinese data which reinforced expectations of a quick global economic recovery.
As of now, the currency pair is trading at 1.1893, representing gains of 0.26%.

Coming onto the previous session, the pair surged to the 1.1888 level following encouraging news on the coronavirus vaccine front. The drug maker AstraZeneca notified over the weekend that it had resumed its trial for the coronavirus vaccine in the UK thus, boosting market sentiments. In addition to this, the Eurozone Industrial Production data came at 4.1% surpassing the market expectation of 4.0%. Subsequently, the currency pair concluded the session at 1.1863, with a gain of 0.17%.

Going forward, investors can take cues from the Eurozone and German ZEW Economic Sentiment data for some short-term trading impetus. Later in the day, the US will publish the Empire State Manufacturing Index, Capacity Utilization Rate, and Industrial Production data.

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Terry_8

Trader
Mar 23, 2020
169
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EURUSD TICKS MILDLY HIGHER, FOCUS ON THE US FED’S MONETARY POLICY DECISION

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EURUSD ekes out modest gains on Wednesday following risk-on prevailing in the Asian equities and as investors await the crucial US Federal Reserve’s monetary policy decision slated for today. The FED is highly anticipated to keep interest rates unchanged, therefore, investors will likely focus on any tweaks in the accompanying statements. Besides, the economic projection by the central bank would also attract attention.
Meanwhile, the gains remain limited amid fears of second wave of coronavirus across Europe, especially in France and Spain.
As of now, the currency pair is trading flat to positive at 1.1850 level, up by 0.04%.
Coming onto the previous session, EURUSD initially peaked at 1.1900 level courtesy to the broad-based weakness in the US dollar and upbeat Eurozone data. Germany’s ZEW survey stood at 77.4, much better from the anticipated 69.7 while for the whole Union, Economic sentiments improved to 73.9 versus the forecast of 63. However, later in the day, EURUSD shed all its initial gains and came into the negative territory as the demand for the greenback returned following the release of positive US Empire State Manufacturing data. Consequently, the pair concluded the session at 1.1846, down by 0.14%.
Moving ahead, investors can take cues from the Eurozone Trade Balance data, US Retail sales data, and FOMC Economic Projection for some short term trading impetus

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Terry_8

Trader
Mar 23, 2020
169
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50
EURUSD DWINDLES POST FED ANNOUNCEMENT, EYES ON US UNEMPLOYMENT CLAIMS DATA

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EURUSD dwindles on Wednesday in response to the broad-based strength in the US dollar, a day after FED decided to keep interest rates unchanged with no additional stimulus. Besides, the fears of the second wave of coronavirus across Europe is shattering the prospects of a quick economic recovery thus, exerting additional pressure on the single currency. Spain is turning out to be the worst-hit nation in Europe with a total of 614k cases and 30K fatalities.
As of now, the currency pair is trading at 1.1763 level, down by 0.44%.
Coming onto the previous session, the currency pair succumbed to selling pressure, sliding below its crucial 1.18 handle following Federal Reserve’s monetary policy decision. As widely anticipated, the central bank decided to keep interest rates unchanged potentially until 2023 and seemed reluctant to provide additional stimulus. In addition to this, FOMC anticipated the GDP to contract at a softer pace and see unemployment at 7.6% than the previous forecast of 9.3%. The market responded with the strengthening of the greenback to above statement which led to downfall in the pair. Consequently, EURUSD settled the day with a loss of 0.26% at the 1.1815 level.
Moving forward, investors should closely follow Eurozone CPI data, US Unemployment Claims, Philly Fed Manufacturing Index data and US Building Permit reports slated for today

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Terry_8

Trader
Mar 23, 2020
169
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50
EURUSD TREADS WATER AROUND 1.185 HANDLE, EYES ON US DATA

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The single currency is treading waters versus its US counterpart in the early Asian trading hours on Friday. Investors prefer to remain on the sidelines owing to the worries about economic recovery after WHO warned ‘Europe’ for a serious surge in coronavirus cases. As per reports, the cases in more than half of Europe have doubled in the past two weeks. Considering this, the European government is imposing strict measures and is also weighing up more lockdowns to halt the spread of the second wave of coronavirus.
As of now, the currency pair is trading at 1.1850, up by 0.02%.
Coming onto the previous session, EURUSD initially dwindled to the intra-day low of 1.1737 level in response to the broad-based strength in the US dollar after FED decided to keep interest rates unchanged with no additional stimulus. However, the pair was quick to rebound from the day’s low following the release of dismal US statistics. The Unemployment claims stood at 860k versus the forecast of 825k whereas Building permits reports came at 1.47M, much worse than anticipated 1.51M thus, exerting pressure on the greenback. Consequently, the currency pair settled the day in positive territory at 1.1840, up by 0.28%.
Moving ahead market participants should closely follow US CB Leading Index and Prelim UoM Consumer Sentiments data scheduled to be released later in the day.

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Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD SURGES ABOVE 1.185 HANDLE AMID DOLLAR WEAKNESS

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The single currency nudges higher versus its US counterpart in the early Asian hours on Monday, courtesy to the broad-based Dollar weakness. Investors prefer to shun the greenback due to the lack of progress on the US stimulus front which questions the prospect of the unfolding recovery. As of now, the currency pair is trading at 1.1867 level, up by 0.25%.
Meanwhile, the upside remains limited owing to the second wave of coronavirus across Europe. In previous week, nearly 300K fresh cases were reported in Europe which has forced several member nations to impose tighter COVID-19 restrictions.
Coming onto the previous session, EURUSD dipped to the intra-day low of 1.1826 level owing to the worries about Eurozone’s economic recovery after WHO warned ‘Europe’ for a serious surge in coronavirus cases. Besides, the preliminary estimates for the US Consumer Sentiment Index came at 78.9 versus the forecast of 74.1 which exerted an additional pressure on the EURUSD. As a result of which, the pair settled the day with a loss of 0.09% at 1.1837 level.
Moving ahead, market participants should closely follow the German Buba Report and speech of FED chair Powell for short term trading impetus

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Terry_8

Trader
Mar 23, 2020
169
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EURUSD TRADES LOWER AMID RESURGENCE IN CORONAVIRUS CASES ACROSS EUROPE

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EURUSD ticks lower in early Asian hours on Tuesday amid a second wave of coronavirus that shatters the prospect of a quick economic recovery. Spain and France are the worst-hit nations registering nearly 2,957 and 5,298 fresh coronavirus cases in the past 24 hours. Considering the latest rise in infection, Europe is planning tougher social distancing norms and further lockdown measures.
As of now, the pair is trading at 1.1754 level, down by 0.12%.
Coming on to the previous session, initially, EURUSD surged to the intraday high of 1.1871 level in response to the broad-based USD weakness. However, the pair was quick to revert from day’s high and succumbed to selling pressure amid resurgent coronavirus contagions across Europe. In addition to this, ECB’s president Lagarde stated that Eurozone’s recovery seems very uncertain and unclear at the moment. Subsequently, the pair skidded to day’s low of 1.1731 level to finally conclude the session at 1.1770 level with a loss of 0.56%.
Moving ahead, investors can take cues from the Eurozone Consumer Confidence data, US Existing Home Sales report, and FED Chair Powell’s testimony for short term trading impetus

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Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD DWINDLES AS CORONAVIRUS CONCERNS WEIGH ON MARKETS

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EURUSD is trading on the back foot for the fourth day in a row as the coronavirus scare is keeping the markets in the risk-off mood. Europe, as well as the US, scramble to contain the spread of novel coronavirus that has raised worries about the unfolding global economic recovery. Besides, the heightened US-China tensions weighed on investor’s sentiments after US President Trump blamed China for unleashing the COVID-19 on the world at the United Nations General Assembly.
As of this moment, the pair is trading at 1.1682, down by 0.21%.
Coming onto the previous session, EURUSD succumbed to selling pressure on concerns of the second wave of coronavirus that shatters the prospect of a quick economic recovery. As a result of which, the pair dipped below the 1.17 handle despite better than anticipated Eurozone data. In the US session, the Fed Chair testified that the US economy remains resilient, although further progress will depend on how they control the virus situation. Subsequently, the pair settled the day at 1.1707, down by 0.53%.
Moving ahead, investors can take cues from the Eurozone and German Manufacturing PMI data for short term trading impetus. Later in the day, the focus will shift towards the US Flash Manufacturing PMI, Services PMI, and Fed Chair Powell’s testimony

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Terry_8

Trader
Mar 23, 2020
169
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EURUSD WILTS AMID CORONAVIRUS JITTERS, EYES ON FED CHAIR POWELL’S TESTIMONY

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A modest pick-up in the demand of perceived safe harbor greenback amid worsening coronavirus situation in Europe is exerting some downward pressure on EURUSD for the fifth straight session on Thursday. The COVID-19 cases in Europe have surpassed the worrisome five million mark with France and Spain preparing for even tighter restrictions to curb the spread of the second wave of coronavirus. Besides, the uncertainty concerning the US fiscal stimulus is also weighing on investor's sentiments.
As of now, the currency pair is trading at 1.1655 level, down by 0.04%.
Coming on to the yesterday's session, the pair tumbled to a fresh two-month low of 1.1650 level owing to the coronavirus scare that kept the markets in the risk-off mood. In addition to this, the data released by Eurozone depicted that growth remains sluggish as the Services PMI for Germany came at 49.1 versus the anticipated 53, while for the Union it contracted to 47.6 against the forecast of 51. On the contrary, US Flash Manufacturing PMI came at 53.5, beating the market expectations of 52.5 thus, supporting the demand for the greenback. As a result of which, EURUSD settled the day at 1.1659 level, down by 0.41%.
Moving ahead, investors can take cues from the German IFO Business Climate data for short term trading impetus. Later in the day, the focus will shift towards the US Unemployment Claims report, Fed Chairman Powell’s testimony, and the speech of Treasury Secretary Mnuchin.

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Terry_8

Trader
Mar 23, 2020
169
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50
EURUSD TRADES FLAT NEAR MID-1.16 HANDLE, FOCUS ON US DURABLE GOODS ORDER DATA

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EURUSD is trading near the 1.165 neighbourhood in the early Asian hours on Friday as market participants await the US Durable goods order data that could potentially lead to volatility in the pair. As of now, the EURUSD is trading flat to positive at 1.1670 level, up by 0.02%.
Meanwhile, US House Democrats reportedly said to unveil a new $2.2 trillion US stimulus relief package to support the economy suffering from the devastating effects of the coronavirus pandemic. As per reports, the COVID-19 cases have surpassed the worrisome 32 million mark worldwide, with 987K fatalities.
Coming onto the previous session, EURUSD initially touched the weekly low of 1.1626 level in response to the second wave of coronavirus prevailing across Europe that prompted France and Spain to prepare for tighter restrictions. However, later in the day, the pair managed to rebound from the day’s low following a surge in the equities markets and dismal US data. The US Initial Jobless Claims data stood at 870k, much worse than the market expectation of 843k, therefore, hampering the demand for the greenback. Consequently, the pair settled the day at 1.1667 level, up by 0.07%.
Today’s economic docket highlights the Eurozone Private Loan’s data, US Core Durable Goods Order data, and speech of FOMC Member Williams that could significantly impact the pair’s performance.

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Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD NUDGES HIGHER AMID IMPROVEMENT IN RISK SENTIMENTS

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EURUSD extend gains for the second straight day following improvement in the risk sentiments ahead of the US Presidential debates. Besides, the broad-based weakness in the greenback as US lawmakers continue to put together fresh economic stimulus adds to the bid tone surrounding the single currency.
As of now, the currency pair is trading at 1.1679, up by 0.12%.
Coming onto the previous session, EURUSD surged to the day’s high of 1.1680 level following optimism in the market that weighed on the US dollar. The market mood was underpinned by the positive brexit headlines. Besides, investor’s preferred to book profits in USD ahead of the upcoming US Presidential debate. However, the pair trimmed some of its gains in response to the comments by ECB’s President Lagarde wherein she mentioned that the value of a single currency is having an impact on the inflation. Subsequently, the pair settled the day at 1.1663, up by 0.31%.
Moving forward, investors can take cues from US CB Consumer Confidence data and speech of FOMC Members slated for today.

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Terry_8

Trader
Mar 23, 2020
169
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50
EURUSD GAINS AMID PREVAILING RISK-ON SENTIMENTS, EYES ON US ISM MANUFACTURING PMI

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EURUSD nudges higher in response to the prevailing risk-on sentiments in the market ahead of the London open. The House Speaker Nancy Pelosi and Treasury Secretary Steven Munchin emphasized continuing the talks over the additional US stimulus relief package that aims to support the economy suffering from the devastating effects of the coronavirus pandemic. The Optimism over the US stimulus boosted the market mood, thus leading to gain in riskier Assets, including EURUSD.
As of now, the currency pair is trading at 1.1743, up by 0.20%.
Coming onto the previous session, the currency pair dipped to the 1.1684 level amid worries over the surging coronavirus cases across Europe that prompted the government to impose tighter restrictions. In addition to that, the US published upbeat data wherein the ADP Non-Farm Employment Change came at 749K versus the forecast of 650K and, the Pending Home Sales data stood at 8.8%, much better than the market expectation of 3.1%. However, later in the day, the pair managed to bounce from the day’s low amid hopes of additional US coronavirus relief package. Subsequently, the pair settled the day at 1.1719, down by 0.20%.
Moving ahead, investors can take cues from the German and French Manufacturing PMI reports that could lead to volatility in the pair. On the other hand, the US will publish Personal Spending data, Unemployment Claims report, and ISM Manufacturing PMI data

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Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD NUDGES HIGHER AMID BETTER MARKET MOOD

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The single currency edged higher versus its US counterpart in the early Asian trading hours amid signs of Risk-on sentiments that exerted some downward pressure on the perceived safe-haven greenback. The sentiments improved following news that President Donald Trump, who was earlier tested COVID positive, could be released be discharged from the Walter National Military Medical center later in the day.
As of now, the currency pair is trading at 1.1732, representing gains of 0.16%.
Meanwhile, the number of coronavirus cases are increasing across Europe that has led the Spanish government to re-impose lockdown in Madrid while the French government has proposed to shut down few bars in Paris.
Coming onto the previous session, EURUSD came under intense pressure after the news that President Donald Trump had been tested positive for the Coronavirus. The news overshadowed the grim US economic data that showed the US added 661k new jobs against the expectation of 850k, whereas the US unemployment rate stood at 7.9%, better than the forecast of 8.2%, thus giving a boost to the dollar. Subsequently, the pair settled the day at 1.1713, down by 0.26%.
Today’s economic docket includes Eurozone Sentix Investor Confidence data and Retail Sales report that might produce some meaningful trading impetus. Post Euro Zone data, the focus will shift towards the US ISM non-manufacturing PMI reports due later in the day.

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Terry_8

Trader
Mar 23, 2020
169
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50
EURUSD EXTENDS GAIN FOR THE SECOND CONSECUTIVE SESSION, EYES ON LAGARDE’S SPEECH

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The single currency surges for the second straight session versus the US dollar as investors look forward to the speech of ECB President Christine Lagarde slated for today. Besides, the news that Donald Trump has resumed his office after coronavirus treatment boosted the risk appetite of the investor.
However, the gains in EURUSD remains limited as Spain and France are tackling with a much-feared second wave of coronavirus and have also started taking measures to contain the spread of the virus.
As of this moment, the currency pair is trading flat to positive at 1.1788, up by 0.06%.
Coming onto the previous session, the single currency touched the intraday high of 1.1797 level amid signs of Risk-on sentiments that exerted downward pressure on the perceived safe-haven greenback. The sentiments improved following news that President Donald Trump, who was earlier tested COVID positive, could be discharged from the Walter National Military Medical center. In addition to this, the Eurozone Sentix Investor Confidence data and Retail Sales came much better than the market expectation, thus supporting the demand for EURUSD. Subsequently, the pair concluded the session at 1.1781, up by 0.57%.
For the day ahead, investors can take cues from the Speeches of ECB President Lagarde and US Fed Chairman Powell for some meaningful trading impetus

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Terry_8

Trader
Mar 23, 2020
169
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EURUSD TRADES MILDLY LOWER AMID SHATTERED US STIMULUS HOPES

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EURUSD trades near 1.732 level, representing a slight loss of 0.02% in the early Asian trading session on Wednesday. President Trump’s statement to halt negotiations regarding US fiscal stimulus, and surging coronavirus cases across Europe that shows no signs of abating are weighing on the investor's sentiments.
Coming onto the previous session, initially, the pair surged above its crucial 1.18 handle following the news that Donald Trump has resumed his office after coronavirus treatment, thus boosting the risk appetite of the investors. However, later in the day, the pair was unable to hold gains and succumbed to selling pressure after President Trump called-off the stimulus talks until the elections. In addition to this, ECB President Christine Lagarde stated that instead of a V-shaped economic recovery, she anticipates a shaky rebound.
Consequently, the pair fell to the day’s low, settling the day at 1.1731, down by 0.40%.
For the day ahead, investors can take cues from the Italian Retail Sales data and Speech of ECB President Lagarde. Later in the day, the focus will shift towards the US FOMC Meeting Minutes for some meaningful trading impetus

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