• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance 0

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

      STEPN Sneaker NFTs Sell For $100, Previously Worth $1200

    • Finance

      NFT Prices in Free Fall – 5 NFT Collections to Start Buying Today

    • Finance

      5 NFTs Trending on Twitter Going Cheap to Invest in Now

    No Comments

    Leave a reply Cancel reply

    Top Finance

    • 3 Best Large-Cap Blend Mutual Funds For Enticing Returns 3 Best Large-Cap Blend Mutual Funds For Enticing Returns
    • What is Value Chain Analysis? How to Deliver Value & Gain a Competitive Advantage What is Value Chain Analysis? How to Deliver Value & Gain a Competitive Advantage
    • Hedge Funds In The US Hedge Funds In The US
    • 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement
    • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce

    New Posts

    • STEPN Sneaker NFTs Sell For $100, Previously Worth $1200

      STEPN Sneaker NFTs Sell For $100, Previously Worth $1200

      June 20, 2022
    • NFT Prices in Free Fall – 5 NFT Collections to Start Buying Today

      NFT Prices in Free Fall – 5 NFT Collections to Start Buying Today

      June 20, 2022
    • 5 NFTs Trending on Twitter Going Cheap to Invest in Now

      5 NFTs Trending on Twitter Going Cheap to Invest in Now

      June 20, 2022
    • Bill Gates – ‘NFTs & Crypto Based on Greater Fool Theory’

      Bill Gates – ‘NFTs & Crypto Based on Greater Fool Theory’

      June 20, 2022
    • Actor Seth Green Pays $300,000 to Recover his Stolen BAYC NFT

      Actor Seth Green Pays $300,000 to Recover his Stolen BAYC NFT

      June 20, 2022
    • About
    • Contact Us
    • Privacy & Policy
    • Sitemap
    • Terms of use

    Copyright © 2018-2021 NJCEE. All Rights Reserved.