|Day's Range||127.45 - 128.603|
|52 Week Range||124.57 - 137.23|
Investing.com - The euro dropped on Thursday after the European Central Bank signaled plans to wind up its bond purchasing program stimulus program by the end of the year but reiterated that it expects to keep interest rates on hold until the middle of 2019.
Investing.com - Policy meetings by the Federal Reserve and the European Central Bank are set to dominate the economic calendar in the coming week, with the U.S. central bank widely expected to raise interest rates, in what would be its second hike this year.
The breakaway gap in the Euro (in this article, we use “Euro” to refer to the currency pair EUR/USD) on the 24th of April 2017 on the back of positive first round French election results that weekend broke through a resistance trendline from 2014, a 5-month ascending triangle and the 200-day moving average. It heralded a reversal in the trend of the Euro and what followed was a near 1-year rally that took the price from 1.087 to a high of 1.2558, a rise of 15.5%. After consolidating in a symmetrical triangle, the Euro broke to the downside and has been falling for over a month now.
Investing.com - The euro extended early gains on Thursday, rising to a three week high boosted by expectations that the European Central Bank will soon start to soon start to unwind its monetary stimulus program.
Market Focus, Key findingsECB’s Weidmann says first ECB Rate Hike could follow the end of Quantitative Easing more closely than in the USAIndustrial Producer Prices rose by 0.1% in the EURO AREA (EA19) and by 0.2% in the EU28European Commission forecasts EURO ZONE inflation will accelerate to 1.6 pct YoY in 2019 from 1.5 pct YoY seen in 2018
Investing.com - The euro gained ground on Thursday, building on the previous day’s gains after hawkish European Central Bank comments fueled expectations that it will soon start scaling back its monetary stimulus program.
Investing.com - The euro fell to the day’s lows on Tuesday amid fresh fears over political developments in Italy, while the Canadian dollar dropped to two-month lows amid fresh trade concerns and oil price declines.
The euro turned positive on Tuesday following reports that the European Central Bank would use its next policy meeting to discuss an exit from its quantitative easing program. Expectations for the ECB to normalize its monetary policy had waned in recent months as European economic data was sluggish and political developments in Italy took center stage. Market participants questioned whether the ECB could afford to halt bond buys if the economic recovery was slowing and Italy's government was euroskeptic.
Eurozone inflation that’s creeping up toward the European Central Bank’s target and Italy’s political crisis could pull policy makers in opposite directions, and the struggle could spell further weakness for the euro. Core inflation stood at 1.1%, higher than the 1% number expected.
Though there still remains a significant amount of uncertainty, recent populist movements in Italy have created the possibility of ending the national use of the Euro. Naturally, as a nation of over 60 million and the third largest nation in the Eurozone (after Germany and France), Italy’s abandonment of the Euro could spark a wide variety of far-reaching changes.
Investing.com - The euro moved higher on Thursday, building on the previous days strong gains amid optimism that the political impasse gripping Italy can be resolved without fresh elections.
Investing.com -The euro rebounded from ten month lows against the dollar on Wednesday, erasing the previous day’s losses as financial markets recovered from a steep selloff sparked by political turmoil in Italy.
Investing.com -The euro rose back above the $1.16 level on Wednesday as it recovered after falling to multi-month lows the previous day as fears over political turmoil in Italy roiled markets.
Investing.com - The euro bounced off the worst levels of the day on Tuesday after comments by the leader of Italy’s Five Star political party calmed investors’ concerns over the prospect of an Italian exit from the euro zone.
The start of the week’s trading took place around excitement in the political situation in Italy and the unsuccessful attempts of Crude Oil to rebound.
Investing.com - The euro fell to its lowest level since November against the dollar on Tuesday as political turmoil in Italy and Spain weighed, while the safe haven yen posted broad gains amid widespread risk aversion.
Investing.com - The euro reversed early gains on Monday, to fall to fresh six-month lows as renewed concerns over political instability in Italy pressured the single currency lower amid prospects for fresh elections.
Early Monday trading has seen the downward pressure continue for oil prices. Italian stocks rise on prospects of new elections, and Italian bonds strengthen as the populist coalition fails to form a government.
Traditional haven currencies, such as Japan’s yen and, to a lesser extent, the Swiss franc, were on the rise on Wednesday as trade and geopolitical concerns came back into focus and the selloff in high-yielding emerging markets assets intensified. President Donald Trump on Tuesday said he wasn’t happy with how trade talks between the U.S. and China were progressing, and said the much anticipated U.S.-North Korea summit planned for next month in Singapore might not go ahead as planned, which sent ripples through global financial markets. The Swiss franc, which is also considered a haven currency though its moves tend to be more muted, rose 0.5% against the (EURCHF).
The British pound climbed against the dollar Thursday after a report the U.K. government plans to stay in the customs union beyond 2021, while the greenback slightly ease against major rivals but still hovered at highs for 2018. The ICE U.S. Dollar Index (IFUS:DX-Y.NYB) was down 0.2% at 93.191, holding around its highest levels of the year, but off Wednesday’s print of 93.391. A broader measure of the greenback, tracking 16 rival monetary units, the WSJ Dollar Index (CALCULATED:BUXX) slipped 0.2% to 86.73.
The Yen has continued to traverse its weaker trend versus the U.S Dollar and has broken resistance consistently in the short term.
The Ecofin meetings are a major event in the EU, with leaders from all member states attending each time that they are held. How could the meeting affect the euro?
The EUR/JPY has been following both the ascending trend line and the EMA perfectly and we might see the uptrend continuation. POC zone 131.50-60 could reject the pair on retracement. However if we don’t see any retracement pay attention to 131.75 rejection towards 132.00. Only above 132.00 we might see 132.40 that is D H5 – strong daily resistance. As long as the pair is kept above 131.25, bulls should be safe.