Chúng tôi trú trọng quyền riêng tư và bảo mật thông tin cá nhân của bạn. Chúng tôi chỉ thu thập email để cung cấp các ưu đãi đặc biệt và thông tin quan trọng về sản phẩm và dịch vụ của chúng tôi. Bằng cách gửi địa chỉ email của bạn, bạn đồng ý nhận những bức thư như vậy từ chúng tôi. Nếu bạn muốn hủy đăng ký hoặc có bất kỳ câu hỏi hoặc thắc mắc nào, hãy viết thư cho Hỗ trợ Khách hàng của chúng tôi.
Octa trading broker
Mở tài khoản giao dịch
Back

EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index

  • EUR/USD meets with some supply amid the emergence of some USD buying on Friday.
  • Bets that the Fed will keep rates higher for longer amid sticky inflation underpin the USD.
  • Traders, however, seem reluctant and look to the US PCE Price Index for a fresh impetus.

The EUR/USD pair edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices currently trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar (USD) price dynamics ahead of the crucial US data.

The US Personal Consumption Expenditures (PCE) Price Index data is due for release later during the North American session and will be looked upon for cues about the Federal Reserve's (Fed) rate cut path. This, in turn, will play a key role in influencing the near-term USD price dynamics. In the meantime, growing acceptance that the US central bank will keep interest rates higher for longer lends some support to the Greenback and exerts some downward pressure on the EUR/USD pair.

Investors have pushed back their expectations about the timing of the first rate cut by the Fed to September. The bets were reaffirmed by data released on Thursday, which showed that the underlying inflation rose more than expected in the first quarter. This helps offset a deceleration in the economic growth to a 1.6% annualized rate during the January-March quarter – marking the weakest reading since mid-2022 – and keeps the US Treasury bond yields elevated, underpinning the USD.

Apart from this, bets that the European Central Bank (ECB) will start cutting interest rates in June, amid a faster-than-anticipated fall in the Eurozone inflation, suggests that the path of least resistance for the EUR/USD pair is to the downside. That said, it will still be prudent to wait for strong follow-through selling before confirming that the recent recovery from the 1.0600 mark, or the YTD low has run its course traders await the key US inflation data.

EUR/USD

Overview
Today last price 1.0722
Today Daily Change -0.0008
Today Daily Change % -0.07
Today daily open 1.073
 
Trends
Daily SMA20 1.0732
Daily SMA50 1.0807
Daily SMA100 1.0848
Daily SMA200 1.0808
 
Levels
Previous Daily High 1.0741
Previous Daily Low 1.0678
Previous Weekly High 1.069
Previous Weekly Low 1.0601
Previous Monthly High 1.0981
Previous Monthly Low 1.0768
Daily Fibonacci 38.2% 1.0717
Daily Fibonacci 61.8% 1.0702
Daily Pivot Point S1 1.0692
Daily Pivot Point S2 1.0654
Daily Pivot Point S3 1.063
Daily Pivot Point R1 1.0754
Daily Pivot Point R2 1.0779
Daily Pivot Point R3 1.0816

 

 

Singapore Industrial Production (MoM) below forecasts (-8.8%) in March: Actual (-16%)

Singapore Industrial Production (MoM) below forecasts (-8.8%) in March: Actual (-16%)
Đọc thêm Previous

NZD/USD remains firmer around 0.5950 due to improved risk appetite

The NZD/USD pair showed positive movement, trading around 0.5960 during the Asian session on Friday.
Đọc thêm Next