• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance

Euro-Zone Weakness Is Finally Expressed In EUR/USD

By Kurt Osterberg · On April 20, 2018
  • The EUR/USD is trading lower, yet still within a very tight range.
  • Disappointing euro-zone figures and a Federal Reserve that is keen raise rates may push the pair lower. 
  • The technical picture is slightly more bearish but further evidence is needed.
  • The EUR/USD is trading at around $1.2310, lower on the day and close to the bottom end of the limited trading range seen this week. The recent driver of the pair to the downside comes from US 10-Year Treasury yields. The global benchmark is on the rise, topping 2.90% and eyeing the elusive 3% level. The greenback is rising alongside yields, albeit more against commodity currencies than against majors.

    Concerns about global trade are surfacing again. Despite the pleasantries exchanged last week, China and the US are still at loggerheads over tariffs. Sorghum used to feed animals, has been the center of the most recent spat as ships had to turn back because of duties. Metals such as aluminum and nickel have been on a tear following not only the tariffs but also as a result of sanctions on Russia. Further trade issues may weigh on the US Dollar.

    Earlier in the week, euro-zone inflation was downgraded to 1.3% and the German ZEW Economic Sentiment plunged to negative territory at -8.2 points. These joined other worrying signs about the euro-zone. In the US, data has been somewhat upbeat. The pair is finally beginning to reflect this change, but the ranges are limited.

    Jens Weidmann, the President of the German Bundesbank, will speak later on. He has been optimistic and hawkish. If he also acknowledges the weakness, the euro cold react. He speaks at 11:30 GMT in Washington. Euro-zone Consumer Confidence is published.

    At 15:15 GMT, the nominee for the President of the New York Fed, will speak in California and may continue talking positively about the economy, repeating his message from earlier this week.

    EUR/USD Technical Analysis – slightly lower

    Print Friendly, PDF & Email

    Share Tweet

    Kurt Osterberg

    You Might Also Like

    • Finance

      How To Earn A 10% Yield On Cost From PepsiCo Dividends

    • Finance

      Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus

    • Finance

      How To Trade Options

    Top Finance

    • Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates
    • Samsung Galaxy Note 9 Review Samsung Galaxy Note 9 Review
    • USD/CAD Forecast October 22-26 – Will The Canadian Dollar Rise On The Rate Hike USD/CAD Forecast October 22-26 – Will The Canadian Dollar Rise On The Rate Hike
    • Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus
    • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce

    New Posts

    • How To Earn A 10% Yield On Cost From PepsiCo Dividends

      How To Earn A 10% Yield On Cost From PepsiCo Dividends

      October 21, 2018
    • Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus

      Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus

      October 21, 2018
    • How To Trade Options

      How To Trade Options

      October 21, 2018
    • Adding To Merkel’s Woes: SPD’s Collapse In Germany, Greens The New Left Darlings

      Adding To Merkel’s Woes: SPD’s Collapse In Germany, Greens The New Left Darlings

      October 20, 2018
    • Self Sufficiency Over Adversity

      Self Sufficiency Over Adversity

      October 20, 2018
    • About
    • Contact Us
    • Privacy & Policy
    • Sitemap
    • Terms of use

    Copyright © 2018 NJCEE. All Rights Reserved.