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EUR/USD downside remains in focus this week
On Friday the further gains in the US dollar sent the EUR/USD down to a new 2024 low at 1.0623. The Euro later closed out the week in the US at 1.0643. So, far today any further upside has been capped at 1.0665. It was noted here last week, that there was not much in the way of identifiable technical support this side of the 1.05 handle and that has not changed at the start of this week. So, despite edging a little higher so far today, the Euro remains capped well south of all its major daily moving averages. Those are all still in place above 1.08 this morning. The risks of further downside in the EUR/USD remain in place and it seems likely at this stage; that any decent rebound might be leant into by wholesale market operators, until or unless something material changes. The EUR/USD is currently trading at 1.0657
Market News
All News-
US stocks kick off in the red but opening losses pared- check out the Nasdaq 100 now
The US stock markets have not long ago opened for live trading and it has been an across the board lower start to the new trading session. The dollar... -
EUR/USD under pressure again
The two aforementioned US data releases have now come out and in dollar reaction terms they were broadly positive, especially the Philadelphia Fed... -
Next up US jobless claims and Philly index- USD/JPY primed to move again?
Shortly at 12.30pm GMT we will get some reasonably important US economic releases. The first is the usual weekly jobless claims, which are perhaps...
