EUR/USD 1.16346
0.030%
Gold 4483.08
-0.036%
Oil 90.302
-0.681%
USD/JPY 159.639
-0.017%
GBP/USD 1.34590
0.034%
GBP/JPY 214.863
0.018%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to RT: A massive explosion occurred in Kyiv, Ukraine, causing widespread power outages.The mayor of Kyiv, Ukraine, said a nine-story apartment building in Kyiv caught fire after a Russian attack.1. US crude oil futures closed up 5.85% at $92.47 per barrel; Brent crude oil futures rose 4.62% to $95.33 per barrel. The sudden shift in Middle East geopolitical tensions, with Iran suspending negotiations with the US and planning a complete blockade of the Strait of Hormuz (which handles about 20% of global oil transport), fueled concerns about supply disruptions. Meanwhile, US commercial crude oil inventories fell by 3.327 million barrels last week, keeping global crude oil inventories at low levels, further driving up oil prices. 2. International precious metals futures generally closed lower. COMEX gold futures fell 1.70% to $4514.80 per ounce, and COMEX silver futures fell 0.96% to $75.15 per ounce. The fluctuating Middle East situation pushed up inflation and interest rate hike expectations, while policy disagreements in the US created market uncertainty. Interest rate hikes increased the cost of holding gold, and in the battle between bulls and bears, bearish forces dominated the market. 3. Most London base metals rose, with LME tin up 2.50% to $56,805.0/ton, LME aluminum up 1.80% to $3,732.5/ton, LME copper up 1.79% to $13,879.5/ton, LME zinc up 1.19% to $3,582.0/ton, LME nickel up 0.86% to $19,225.0/ton, and LME lead down 0.20% to $2,012.0/ton. 4. The three major U.S. stock indexes closed slightly higher, with the Dow Jones Industrial Average up 0.09% to 51,078.88 points, the S&P 500 up 0.26% to 7,599.96 points, and the Nasdaq Composite up 0.42% to 27,086.81 points. All three major U.S. stock indexes continued to reach new closing highs. Salesforce rose more than 9%, and IBM rose more than 7%, leading the Dow Jones gains. 5. European stock markets closed lower across the board. The German DAX index fell 0.40% to 25,003.04 points; the French CAC40 index fell 0.45% to 8,146.59 points; and the UK FTSE 100 index fell 0.68% to 10,338.95 points. 6. US Treasury yields were mixed. The 2-year Treasury yield rose 3.09 basis points to 4.031%, the 3-year Treasury yield rose 3.14 basis points to 4.082%, the 5-year Treasury yield rose 2.62 basis points to 4.163%, the 10-year Treasury yield rose 1.77 basis points to 4.453%, and the 30-year Treasury yield fell 0.20 basis points to 4.970%.Eyewitness: Ukrainian air defense systems are defending against air attacks over Kyiv.June 2nd - According to the official Weibo account of Qwen Big Model, Alibaba officially released the Qwen3.7-Plus multimodal intelligent agent model on June 2nd. The model, based on the text capabilities of Qwen3.7, has comprehensively upgraded its visual-language capabilities while maintaining full intelligent agent capabilities in coding, tool usage, and productivity workflows.

EURUSD attracts sells below 1.0400 in anticipation of Lagarde's ECB address

Daniel Rogers

Nov 18, 2022 15:12

 截屏2022-11-18 上午11.29.22.png

 

The EURUSD lacks direction at 1.0365 on Friday morning after registering its first daily loss in three sessions. In a poor session preceding Christine Lagarde's speech as president of the European Central Bank, the primary currency pair reduces its weekly gains (ECB).

 

The inability of the US Dollar to justify the recovery in US Treasury yields from their six-week low has recently exerted pressure on the EURUSD bearish. The cautious optimism around US President Joe Biden's effort to relax student loan regulations and the most recent survey on the Fed's next move may also pose a danger to pair sellers.

 

The Biden administration will seek the Supreme Court to reinstate the student loan debt relief program, according to CNBC. On the other hand, the Philadelphia Fed Manufacturing Index and housing data for October may have put doubt on the Fed's recent hawkish language.

 

In addition, the most recent Reuters poll for the US Federal Reserve (Fed) indicates that the Fed will downshift in December to deliver a 50 basis point (bps) interest rate hike, but a longer period of US central bank tightening and a higher policy rate peak are the greatest risks to the current outlook.

 

Nonetheless, strong Fed language and weakening Eurozone data may be regarded as the pair's most recent difficulties. Thursday, James Bullard, president of the Federal Reserve Bank of St. Louis, remarked that the US Federal Reserve's (Fed) monetary policy is not now deemed restrictive enough to reduce inflation. In a similar vein, Neel Kashkari, president of the Minneapolis Federal Reserve Bank, stated: "With inflation remaining high and a substantial degree of monetary policy tightening already underway, it is questionable how high the US central bank will need to increase the policy rate."

 

Notably, a downward revision to Eurozone inflation data, as measured by the Harmonized Index of Consumer Prices (HICP), to 10.6% (final) in October from 9.9% (preliminary) in September also favored EURUSD bears the day before.

 

The benchmark 10-year US Treasury yields recovered from a six-week low before remaining roughly unchanged at 3.77 percent, while the S&P 500 Futures remain uncertain as of press time.

 

As the pair loses bullish momentum, a remark from ECB President Lagarde will be crucial for EURUSD price action in the immediate future. However, hawkish words from Lagarde and lower US Existing Home Sales statistics for October will keep bulls in play.

Suggestion