The EUR/USD pair was little changed on Monday amid low liquidity since US markets were closed for the Memorial Day weekend.
The pair was hovering at 1.0712, where it ended the week. This price was the lowest level since March 21st, which was lower than the year-to-date high of 1.1095.The EUR/USD pair has been in a strong downward trend as the US dollar index has jumped to the highest level since March 27th. The dollar index has soared by more than 3.45% from the lowest level this year.
Meanwhile, there is a likelihood that the Federal Reserve will deliver another rate hike in June this year since inflation remains at an elevated level. PCE data published last Friday revealed that inflation rose to 4.7% in March, higher than what analysts were expecting. The other key EUR/USD news is the political uncertainty in Spain, where the prime minister called for a snap election in July. This election will likely affect the country’s growth as Europe re-emerges from the pandemic and as the war in Ukraine continues.On the 4H chart, it has dropped below the 61.8% Fibonacci Retracement level. The pair’s decline is being supported by the 25-period and 50-period moving averages. It has also dropped below the important support level at 1.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
EUR/USD Forex Signal: Bearish Forecast as Sell-Off IntensifiThe EUR/USD exchange rate retreated on Monday morning as the market reflected on the debt ceiling progress in the United States.
Baca lebih lajut »
AUD/USD Forex Signal: More Downside as Focus Shifts to US CoThe AUD/USD pair continued falling after the relatively strong US PCE data and the positive outlook on the debt ceiling issue.
Baca lebih lajut »
BTC/USD Forex Signal: Risk-On Sentiment Sets InThe BTC/USD pair drifted upwards during the weekend after it dropped to a low of 25,917 during the weekend.
Baca lebih lajut »
EUR/USD: Weekly Forecast 28th May - 3rd JuneTraders who have jumped onto the selling bandwagon of the EURUSD have likely enjoyed the past handful of days- Forex Forecast
Baca lebih lajut »
EUR/USD retreats towards 1.0700 despite initial US debt ceiling deal, US NFP, Eurozone inflation eyedEUR/USD retreats towards 1.0700 despite initial US debt ceiling deal, US NFP, Eurozone inflation eyed – by anilpanchal7 EURUSD ECB Fed Inflation NFP
Baca lebih lajut »
EUR/USD Price Analysis: Volatile action looks likely as US debt-ceiling raise proposal approvedThe EUR/USD pair is showing a back-and-forth action above the round-level support of 1.0700 in the Asian session. The major currency pair is expected
Baca lebih lajut »