EURUSD surged almost 4% weekly, eyeing the 200-DMA – by christianborjon EURUSD Majors Macroeconomics
extended its losses to four consecutive weeks as hopes for a slowdown in the Federal Reserve tightening cycle following the CPI release remained high. Therefore, the Euro continued its advance, as the EURUSD gained 1.42%, exchanging hands at 1.0352.Wall Street finished the week with solid gains. The US inflation report on Thursday showed that core CPI, closely followed by the Federal Reserve, eased from 6.6% YoY in September to 6.3%, well below estimates.
Furthermore, ECB Pablo Hernandez de Cos added that the Quantitative Tightening could be announced in December and that recession probability had increased. In the meantime, ECB member Mario Centeno said that the Euro is not going through an “existential crisis.”Given the fundamental backdrop, the EURUSD climbed toward the August 10 swing high at 1.0364.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USDCHF Price Analysis: All eyes on 200-DMA support above 0.9600USDCHF Price Analysis: All eyes on 200-DMA support above 0.9600 – by anilpanchal7 USDCHF Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
Gold Price Forecast: XAUUSD refreshes 2 ½ month highs, eyeing the 200-DMAGold price advances steadily in the North American session, clinging to its Thursday gains. Factors like a softer US Consumer Price Index (CPI) report
Read more »
AUDNZD Price Analysis: Shooting Star below 200-DMA indicates more weakness aheadAUDNZD Price Analysis: Shooting Star below 200-DMA indicates more weakness ahead – by Sagar_Dua24 ChartPatterns Candlesticks AUDNZD Momentum Inflation
Read more »
Silver Price Forecast: XAGUSD clears the 200-DMA and stays nearby 4-1/2 month highs, around $21.60sSilver price is skyrocketing to a fresh four-and-half-month high, in the mid-North American session, following a US inflation report that came softer
Read more »
200-pound dinosaur skull expected to sell for $15 millionA Tyrannosaurus rex skull unearthed in South Dakota is expected to sell for $15 million or more at auction.
Read more »