EUR/USD pair reaches resistance zone with belligerent FedSpeak
The US dollar bounced in foreign exchange while the Federal Reserve remained cautious on inflation.
After last week’s massive forex rally of around 4%, the EUR/USD pair reached a key long-term resistance level near 1.0350, but investors should be wary of Europe’s economic difficulties and the still-very important I am paying attention to that. Disparities in monetary policy between the United States and the Eurozone. Il n’y a pas que la paire EUR/USD qui starts la semaine du mauvais pied. The US dollar appears to have rallied after Federal Reserve Governor Christopher Waller declared that there was “a long way to go” before suspending interest rates.The news weighed on gold contracts and US indices, sending the pair higher USD/JPY d’environ 200 pips sur le forex par rapport à ses plus bas niveaux de vendredi.
Waller: Les randonnées doesn’t end with the next one or two reunions.
$2 bulls were relieved to hear that the Fed’s president has made clear the argument in favor of another rate hike after falling for a fourth straight week in its worst performance since 2020.
Waller declared: Cela ne se terminera pas dans la nextreunion ou deux.
Industrial production in the Eurozone turned profitable
Il ya eu de bonnes nouvelles from the euro zone, industrial production is better than expected (up 0.9% m/m vs 0.1%, previous readings revised evenly to 2.0% vs 1.5% ), bien que cela n’ait pas suffi . In effect, businesses continue to signal a drop in new orders, but demand wanes in the middle of the price flambé, stifling economic activity in the euro zone. IPC hits a new record of 10.7% in October And if it starts to fall from here, it will hurt consumers. The European Commission now expects Eurozone inflation to average 8.5% this year and 6.1% in 2023.
“The EU, the Eurozone and the majority of member states are in recession in the context of high uncertainty, strong pressure on energy prices, declining household purchasing power, a weakening external environment and tightening funding conditions. must fall into.”, declared the Commission.
Pair EUR/USD Tests 2017 Lows
The pair EUR/USD has tested the next obstacle near its 2017 low point of 1.0340. After last week’s big rally, the price went into a short-term “thrashetes” and then sold from there without surprise. The next support level is currently around 1.0200. perdre cela et un nouveau test de la zone de cassure autour de 1.0090 serait exposé pour un nouveau test par le haut.
Written by Fawad Razaqzada, FOREX.com » Official Site
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