Market Overview January 10

In European trade, the euro appreciated vs the US dollar, holding onto gains for the second day and moving in a positive territory ahead of further indications regarding the direction of European policy going forward.

Economic News
١٠ يناير ٢٠٢٤

In European trade, the euro appreciated vs the US dollar, holding onto gains for the second day and moving in a positive territory ahead of further indications regarding the direction of European policy going forward.

In order to reevaluate the likelihood of future interest rate decreases by the ECB, traders are currently awaiting statements made later today by a number of ECB officials.

EUR/USD

After climbing 0.1% on Monday, the EUR/USD saw a 0.15% increase to 1.0966, with a session low at 1.0946. This was the second profit in three days, and it was still above a three-week low at $1,0877.

The euro fell 0.9% versus the US dollar last week, marking the first weekly decline in a month as worries about the growing difference in interest rates between the US and Europe intensified.

Following the upbeat December ECB policy meeting, traders reduced their projected 160 basis point reduction in interest rates in 2024 to 150 basis points.

Traders are currently awaiting Fed speeches and additional data to ascertain the likely direction of policies going forward.

Approximations

The Forex analysts at ENG Bank think it will be difficult to sustain EUR/USD advances over 1.10 because the market is now driven by risk appetite and stock performance.

They think that in order for the EUR/USD to stay strong, European stocks must continue their current upward trajectory.

Robert Thompson

Economic News

Market Overview January 3

Thursday saw a rise in sterling in European trade versus a group of significant competitors, continuing its recent gains against the dollar and reaching a five-month high due to the Bank of England's forecast.

Robert Thompson
٠٣ يناير ٢٠٢٤

Economic News

Market Overview December 27

Due to poor investment performance, the dollar dropped versus a basket of key competitors in European trade on Friday, continuing its losses for the day and nearly recording a new weekly loss as markets began to factor in the possibility that the Federal Reserve might raise interest rates again next month.

Robert Thompson
٢٧ ديسمبر ٢٠٢٣

Economic News

Market Overview December 13

Major US inflation data for November is expected to be released later today, and this data is expected to provide global markets insight into the present situation of consumer pricing and pressure on the Federal Reserve.

Robert Thompson
١٣ ديسمبر ٢٠٢٣