EUR/USD Gathers Upside Impulse And Revisits 1.1050

EUR/USD extends the rebound for the second session in a row and revisits 2-day highs in the 1.1050 region on Monday.

EUR/USD shifts the attention back to 1.1100

EUR/USD surpasses the 1.1000 barrier with certain conviction amidst the continuation of the selling mood in the greenback, as investors keep digesting April’s Nonfarm Payrolls published on Friday.

In the meantime, hawkish ECB-speak should keep further tightening in the next couple of meetings on the table, while speculation of a most likely pause at the Fed’s hiking cycle in June is seen keeping the Buck under pressure for the time being.

In the euro docket, Industrial Production in Germany contracted at a monthly 3.4% in March, while Wholesale Inventories are only due across the ocean.

What to look for around EUR

EUR/USD’s recovery picks up the extra pace and seems to have shifted its attention to the 1.1100 region.

The movement of the euro’s value is expected to mirror the behaviour of the US Dollar closely and will likely be impacted by any differences in approach between the Fed and the ECB regarding their plans for adjusting interest rates.

Moving forward, hawkish ECB-speak continues to favour further rate hikes, although this view appears in contrast to some loss of momentum in economic fundamentals in the region.

This week’s key euro events include: Germany’s Industrial Production (Monday) and Germany’s Final Inflation Rate (Wednesday).

Eminent issues on the back boiler: Continuation (or not) of the ECB hiking cycle. Impact of the Russia-Ukraine War on the region’s growth prospects and inflation outlook. Risks of inflation becoming entrenched.

EUR/USD levels to watch

So far, the pair is up 0.30% at 1.1050, and the surpass of 1.1095 (2023 high April 26) would target 1.1100 (round level) en route to 1.1184 (weekly high March 21 2022). In opposition, the next support is seen at 1.0941 (monthly low May 2), followed by 1.0909 (weekly low April 17) and finally 1.0831 (monthly low April 10).

This Post Has 23 Comments

  1. TimothyPat

    best canadian online pharmacy reviews: Canadian Pharmacy – canadian drug pharmacy

  2. JosephVor

    lasix pills: cheap lasix – lasix side effects

  3. PatrickTaw

    viagra generico sandoz: viagra prezzo – farmacia senza ricetta recensioni

  4. NormanVaf

    farmacia online madrid: Cialis generico – farmacias online seguras

  5. NormanVaf

    viagra 100 mg precio en farmacias: viagra generico – sildenafilo 100mg precio espaГ±a

  6. NormanVaf

    п»їViagra online cerca de Madrid: Viagra sildenafilo – viagra online gibraltar

  7. sl2.top

    Howdy! Do you know if they make any plugins to assist with Search
    Engine Optimization? I’m trying to get my website to rank for some targeted keywords but I’m not seeing very good
    results. If you know of any please share.
    Thank you! You can read similar article here

  8. Rickie

    I will right away grasp your rss as I can’t find your email subscription link or newsletter service. Do you’ve any? Please let me understand in order that I could subscribe. Thanks!

  9. good escape room

    Hey there! Do you know if they make any plugins to help with SEO?

    I’m trying to get my website to rank for some targeted keywords but I’m
    not seeing very good results. If you know of any please share.
    Thank you! You can read similar article here: Escape rooms

  10. Backlink Building

    Hi! Do you know if they make any plugins to help with Search Engine Optimization? I’m trying to get my website
    to rank for some targeted keywords but I’m not seeing
    very good results. If you know of any please share. Cheers!
    You can read similar blog here: Backlink Portfolio

  11. sklep internetowy

    Wow, superb weblog layout! How long have you
    been running a blog for? you make blogging glance easy.
    The overall glance of your site is magnificent, as well as the content!
    You can see similar here dobry sklep

Leave a Reply

Contact Us

Disclaimer

Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.

All Rights Reserved. None of the content of this website can be published elsewhere by any means without the prior consent of the owner(s). Please, check our terms & conditions and privacy policy before continuing to use this website.

This website and its owner(s) are not in any way liable for any incurred loss, whether caused by the information provided on this website or otherwise. The use of this website, including the content and information provided, is the user’s sole liability.