EUR/USD 1.16569
0.187%
Gold 5230.04
1.780%
Oil 78.646
-5.661%
USD/JPY 157.483
-0.114%
GBP/USD 1.34684
0.243%
GBP/JPY 212.107
0.193%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Democratic lawmakers in the United States will introduce a bill to explicitly prohibit contracts for transactions involving war or death.Amazon: Users do not need to be Amazon Prime members or One Medical members to use the health AI.U.S. Senator Kaine: I hope to see the Senate hold hearings on the war with Iran before the end of this term, which could trigger more votes on war powers.The German DAX 30 index closed up 574.56 points, or 2.46%, at 23,968.94 on Tuesday, March 10; the UK FTSE 100 index closed up 163.79 points, or 1.60%, at 10,413.31 on Tuesday, March 10; and the French CAC 40 index closed up 142.00 points, or 1.79%, at 8,057.36 on Tuesday, March 10; European The Stoxx 50 index closed up 156.35 points, or 2.75%, at 5841.55 on Tuesday, March 10; the Spanish IBEX 35 index closed up 492.16 points, or 2.90%, at 17436.76 on Tuesday, March 10; and the Italian FTSE MIB index closed up 1190.54 points, or 2.70%, at 45215.50 on Tuesday, March 10.On March 11, local time, the Iranian military issued a statement saying that on the evening of March 10, a military center in Haifa, Israel, and the Horizon satellite information receiving center were both attacked by Iranian drones. The statement pointed out that the military center in Haifa plays a key role in weapons manufacturing and is of significant strategic importance in enhancing Israels combat capabilities. Furthermore, the Horizon satellite information receiving center is also an important institution for Israeli military and intelligence gathering. During the 12-Day War between Israel and Iran last year and in the current conflict, it played a crucial role in coordinating and managing Israeli reconnaissance satellite missions.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

EUR:USD.png

 

Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


Suggestion