EUR/USD 1.15229
-0.043%
Gold 4071.53
-0.781%
Oil 81.159
-1.802%
USD/JPY 160.384
0.549%
GBP/USD 1.34601
-0.038%
GBP/JPY 215.888
0.524%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Germanys seasonally adjusted unemployment figures and unemployment rate for July will be released in ten minutes.Gold prices fell on Friday, but are on track for their first monthly gain in five months as investors closely watch developments in the Middle East. A Sucden financial analyst stated, "Precious metal prices rebounded following a weaker dollar after the release of weak GDP data, but this move is not entirely convincing given the lack of a significant decline in US Treasury yields." Meanwhile, the Federal Reserve kept interest rates unchanged at its July meeting, with Chairman Warsh offering little clear guidance on the banks next policy moves.Hamas official: Israel must withdraw its troops from Gaza.July 31 – On July 31, Foreign Ministry Spokesperson Mao Ning held a press conference. A reporter asked about reports that a Chinese companys building in Kuwait had been attacked. What is Chinas comment on this? Mao Ning stated that after verification, no Chinese citizens were affected by the attack. Following the incident, the Chinese Embassy in Kuwait immediately reminded Chinese citizens and institutions in Kuwait to raise their risk awareness and strengthen security precautions. At the same time, it contacted relevant Kuwaiti departments to request effective measures to ensure the safety of Chinese-funded institutions in Kuwait. China believes that any attack on innocent civilians and non-military targets is unacceptable and calls on all relevant parties to exercise restraint, continue to properly resolve conflicts and differences through dialogue and consultation, and promote the early restoration of peace and stability in the Gulf region.Bank of Japan Governor Kazuo Ueda: Generally speaking, yield curve control (YCC) is a tool in the central banks toolbox, but we are unlikely to use it again in the near future.

The EUR/USD Declines toward 1.0500, with US Inflation and ECB Lagarde in the Spotlight

Alina Haynes

May 09, 2022 10:10

The EUR/USD fell below 1.0530 and is likely to test the psychological support level of 1.0500. After Monday's opening bid, the value of the asset is continuing to decline. As of now, a bearish open trend has been noticed, and the index is attempting to challenge its bottom from the previous week at 1.0483.

 

Euro bulls are anticipated to stay volatile this week ahead of Wednesday's speech by Christine Lagarde of the European Central Bank (ECB). Lagarde's statement will shed light on the expected monetary policy action taken by the ECB in June. Notable is the fact that the ECB left its interest rates constant in its most recent announcement regarding interest rates. Until the end of its bond-buying program, which is anticipated for the third quarter, the European Central Bank (ECB) has mandated that policy rates would remain constant. Consequently, investors should not anticipate a rate increase from the ECB before the end of the year. In addition, fears of stagflation in the eurozone following the Ukraine crisis have diminished the likelihood of the ECB adopting a hawkish tone.

 

In the meantime, the US dollar index (DXY) transforms any corrective downturn into an ideal purchasing opportunity for market participants. The DXY is robust as the probability of a June rate hike by the Federal Reserve (Fed) rises. At the time of publication, the DXY has risen above 130.90 and is inching closer to recapturing last week's peak of 104.06.

 

Aside from ECB Lagarde's speech, investors are focusing on Wednesday's release of US inflation data. A preliminary estimate for annual US inflation is 8.1 percent, down from the previous estimate of 8.5 percent. 

EUR/USD

image.png 



Suggestion