EUR/USD consolidates recent losses to poke intraday high. ECB rejects rumors over inflation forecasts and rate hike concerns. US data renewed Fed tapering concerns, markets await US Michigan Consumer Sentiment details for conviction amid mixed clues. EUR/USD licks its wounds around 1.1770, up 0.05% intraday while consolidating the previous day’s fall, the heaviest in a month. That said, the US dollar pullback amid an inactive session could be linked to the currency major’s rebound heading into Friday’s European session. US Dollar Index (DXY) grinds higher around 92.85, steady of late, following that biggest daily jump in since mid-August. The greenback gauge rallied Thursday after the US Retail Sales for August and Philadelphia Fed Manufacturing Index for September renewed Fed tapering concerns. The US Retail Sales MoM jumped to the highest in five months while crossing expectations of -0.8% with +0.7% figures. Further, the Philly Fed gauge also rose strongly to 30.7 versus 19 forecasts and 19.4 prior, marking the strongest figures in three months. Also underpinning the greenback were chatters that the US, the UK, and Australia are indirectly challenging China with securities pact and the US hosting of the UK, India, Australia, and Japan for diplomatic talks the next week. Additionally, the Sino-American tussles, recently over Taiwan, join the hurricanes that challenge oil firms in the US Gulf to add to the risk-off mood and favor the US dollar’s safe-haven demand. As per the latest updates, the US and Australia issue joint statement showing concerns over the South China Sea claims while conveying readiness to strengthen ties with Taiwan. On the other hand, the UK Financial Times (FT) news that European Central Bank (ECB) Chief Economic Philip Lane hints at a faster inflation run-up triggered the Euro uptick yesterday but was rejected by the ECB afterward. Furthermore, a rethink over the Fed’s tapering seems to probe the bears. Reuters’ latest poll of 51 economists pushes back the tapering to the November meeting while citing the inflation concerns. The survey also hints at the Delta covid variant’s downbeat impact on the US Q3 GDP. Additionally, hints that the US stimulus talks are in pipeline and more vaccines are on the way seemed to have underpinned the latest consolidation. Amid these plays, S&P 500 Futures remain directionless while the US 10-year Treasury yields seesaw near 1.33% by the press time. The final reading of the Eurozone Consumer Price Index (CPI) for August, expected to confirm a 3.0% YoY forecast, is there on the calendar to offer immediate direction. However, EUR/USD traders will be more interested in the preliminary readings of the US Michigan Consumer Sentiment Index for September, expected 72.2 versus 70.3 prior. Should the consumer-centric data provides a positive surprise, Fed tapering woes may exert additional downside pressure on the EUR/USD prices.
This is trivial news. There is no heavy losses. EURUSD hardly moved over the past few months. it has been ranging from 1.17 to 1.19 for months. Eurusd tends to move in nanometers. The recent heavy loss was in 2014 where it dropped from 1.37 to 1.06 Fed tapering concern caused gold (and not eurusd) to move massively.
Newbie/oldie copy and paste news from lousy website? There are tons of garages out there And there are tons of multiple nicks So do your own analysis. Be careful of such manipulative people Obviously someone suffered a heavy Loss trading eurusd Be alert. Do not be conned by such people Be careful of new nick!!!!! They are very dangerous!!!!
Not quite sure the chats reading out the same information EURUSD has been massively sideways for about a year now price is right back where it was a year ago. Not sure of your source of fundamentals but the technical don't indicate none of those.