The Euro paired some of its Friday losses against the US Dollar, though it remains shy of reclaiming the 200-day moving average (DMA) at 1.0839.
EUR/USD approaches the critical 200-day moving average, reflecting a cautious optimism in currency markets. Mixed Fed views and weaker US housing data contrast with ECB optimism on inflation and potential rate cuts. Upcoming US Durable Goods Orders and Consumer Confidence figures, to update economic outlook. The Euro paired some of its Friday losses against the US Dollar, though it remains shy of reclaiming the 200-day moving average at 1.0839.
Across the pond, the Eurozone’s Consumer Confidence in Spain was almost unchanged, while European Central Bank officials led by Mario Centeno said inflation has peaked. Fabio Panetta added that the EU’s inflation is quickly falling toward its 2% target, giving room to cut rates. In addition, the EU’s docket will feature Consumer Confidence in Germany and the GDP release in Spain.
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EUR/USD Forecast: A visit to the 200-day SMA looms closerFurther upward bias in the Greenback weighed on the riskier assets, lending further legs to the US Dollar Index (DXY) and keeping the price action around EUR/USD subdued well below the 1.0900 support.
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EUR/USD Forecast: The 200-day SMA holds the downside…for nowThe continued upward momentum in the Greenback exerted pressure on riskier assets, bolstering the US Dollar Index (DXY) and maintaining EUR/USD price action subdued well below the 1.0900 level on Tuesday.
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EUR/USD Forecast: Another test of the 200-day SMA looms closerThe upward momentum in the Greenback resumed on Thursday, triggering a notable correction to the area beyond the 104.00 barrier for the USD Index (DXY).
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EUR/USD tests 200-day average with key Central bank speakers waiting in the wingsEUR/USD is trading a quarter of a percent down on Friday, in the lower 1.0800s just below the 200-day Simple Moving Average (SMA).
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US Jobs Report to Guide US Dollar’s Outlook; EUR/USD, USD/JPY, GBP/USD SetupsThe February's U.S. jobs report is poised to inject a considerable amount of volatility into financial markets and may play a pivotal role in shaping the near-term trajectory of the U.S. dollar.
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US Dollar Forecast: US CPI to Spark Next Big Move - EUR/USD, USD/JPY, GBP/USDFebruary's U.S. inflation data is poised to ignite heightened market volatility in the upcoming week, playing a pivotal in shaping the near-term outlook for the U.S. dollar.
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