Euro vs US Dollar to watch in Forex this week

Euro vs US Dollar to watch in Forex this week

Euro vs US Dollar to watch in Forex this week

Avec le PPI allemand lundi et les données économiques Attendues de l’UE et des États Unis, ainsi que les minutes du FOMC, la paire EUR/USD pourrait être assez sur le forex.

The week started off on good footing for the European data this week, albeit with a peut-être un peu difficile à appréhender! Germany’s IPP in October was up 41.5% on the annual slide and up 41.5% on the September annual slide. It increased by 46.8% compared to 34.5% not on the annual slide. Il s’agit du niveau le plus bas de puis juin et de la première baisse de puis mai!MoM’s impression was -4.2%, compared to an expectation of +0.9% and his September lecture of +2.3%. On Wednesday, the EU will release his PMI manufacturer’s six rapid estimates of his S&P for November. Expectations are mainly for manufacturing PMI titles to decline in most of the EU countries, which should be 46 compared to 46.4 previously. It will be the strongest contraction since May 2020. The service index should drop to 48 versus 48.6. The composite index should drop to 47 versus 47.3. Ce serait le niveau le plus bas depuis November 2020. Avec des données d’inflation plus faibles et des données de fabric attuues plus faibles, on peut voir à quel point il peut être difficile pour la BCE d’augmenter les taux d’intérêt Cependant, l’IPC de l’EU était de 10.6% en glissement annuel pour octobre et les membres de BCE parlent de hausmes de taux supplementaires en décembre (et au-delà). not.

Pour ne pas être en reste, les États Unis publient également mercredi les données PMI de November. On s’attend à ce que le PMI manufacturier Flash soit de 50 contre 50.4 pour la dernière fois. should remain weak at 47.9. This brings the October course total to 49.5 versus 48.2. Cependant, comme pour la BCE, responsible for the American Fed ont été assez direct en annonçant qu’ils relèveraient les taux en décembre. Recently, St. Louis Federal Reserve Governor James Bullard declared interest rates to rise even further, from 5% he said to 7% final. Les attentes du marché ont bondi sur ses commentaires et prévoient une hausse supplémentaire des taux au deuxième triestre 2023, pour rener le taux terminal attendue between 5% et 5.25%, contre 4.75% et 5%. declared that the Federal Reserve should probably raise interest rates, with another challenge of lowering inflation. The FOMC minutes will be released on Wednesday starting with the Nov. 2 meeting. At a press conference following the FOMC’s last meeting, Fed President Jerome Powell declared that upcoming data suggested the final level of interest rates would be higher than expected. Further, the communiqué indicates that it will “take into account cumulative tightening, political decarragement and revolution, economic and financial to determine the rhythm of rate hikes.” Elements monitored by procès-verbal:

  1. Did the FOMC discuss a rate hike of just 50 basis points at its December meeting?
  2. Le Comité at il discute du level des rates terminalaux?
  3. Does the FOMC have a calendar in mind as to when the terminal rate will be reached and how many times the rate will stay at this level?

two EUR/USD s’échangeait dans un canal in the downhill depuis le debut de l’annee, lorsque le prix avait atteint un sommet de 1.1495. Le 28 septembre, la paire a teste la ligne de tenance inférieure du canal et a rebondi. This is 0.9532 So, I marked the lowest point of the year so far. Since then, the EUR/USD pair has moved upwards in forex and on Oct. 25 he broke the upper trendline of the channel near 0.9925. The pair was rocky, reaching a high of 1.0482 just below the 50% retracement level between the February 10 high and the September 28 low of 1.0515.

Graphic EUR/USD Daily

Source: TradingView, StoneX

On the 4-hour chart, the course of the pair EUR/USD forms a symmetrical triangle. If the price continues to fall, there is initial support at the retracement level of 50% of the Nov 10 trough or Nov 15 peak and a horizontal support near 1.0203/1.0209. Below, the EUR/USD pair could fall from the same period around 1.0144 to a 61.8% Fibonacci retracement before hitting horizontal support at 1.0094. Cependant, if the support holds and the EUR/USD pair rebounds, the first resistance will be located at the base of the triangle at 1.0271. If the price continues to rise inside the triangle, resistance will converge between the August 10 high and the May low of 1.0349 and 1.0369. The next resistance is at au plus haut du 15 novembre à 1.0482.

Chart EUR/USD 4 hours

Source: TradingView, StoneX

Avec des données PPI beaucoup plus faibles que prévue en provenance d’Allemagne lundi et des PMI inférieurs atentus mercredi, l’euro se dirige actuellement vers le bas. Concerns prevailed. Combine this with his PMI in the US and you could see ‘discrete’ FOMC minutes and EUR/USD volatility fluctuate in the forex semine market.

Federal Reserve Governor Powell has to address the economy on November 30th.

Joe Perry, CMT, » Site Official stock exchange action fomc

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