EUR/USD Forex Signal: Break and Retest Points to More Upside EURUSD Forex
data from the United States and some European markets. The pair was trading at 1.0135, which was slightly below Monday’s high of 1.0200.trend in the past few days as investors reflect on last week’s interest rate decision by the European Central Bank .
The bank decided to hike rates for the second straight month as concerns about inflation continued. It hiked by 0.75%, the biggest increase since 1999. Focus now shifts the important inflation data from the US and several European countries. Based on the previous estimate, analysts expect that consumer prices in Germany rose by 7.9% in August as the price of energy remained at an elevated level. The harmonized inflation rate is expected to have risen by 8.8%.
Spain will also publish the final estimate of its August inflation data. Analysts expect that the headline CPI rose to 10.4% on a year-on-year basis and by 0.1% on a MoM basis. The European Central Bank believes that the bloc’s inflation will keep rising due to the soaring gas prices. The other important data from Europe will be the upcoming German economic sentiment data. Analysts expect that sentiment of the German economy deteriorated after Russia decided to cut its natural gas supply.. With gasoline prices dropping, analysts expect that the country’s inflation pulled back in August. Precisely, they expect that the headline inflation dropped from 8.5% to 8.1% in August. Core inflation is expected to have risen from 5.9% to 6.1%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Weekly Forex Forecast - EUR/USD, GBP/USD,USD/JPY,AUD/USDThe EURUSD has rallied a bit during the course of the week to clear the parity level: Forex Forecast Trading
Read more »
EUR/USD Forex Signal: Holding Up Above ParityThe long-term bearish trend in this currency pair remains valid, but relative strength in the Euro has continued as the Dollar weakens slightly or consolidates.
Read more »
GBP/USD Forex Signal: Bullish Breakout Ahead of a Busy WeekThe GBP/USD price moved upwards as focus shifts to important economic data from the United States and the UK.
Read more »
GBP/USD Forex Signal: Strong Bullish Reversal from LowMy previous GBP/USD signal on 5th September was not triggered.
Read more »
Pairs in Focus This Week \u2013 EUR/USD, USD/JPYGet the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of September 11th, 2022 here.
Read more »
EUR/USD: Hawkish bets on ECB favor bulls to aim for 1.0115 hurdle, US inflation eyedEUR/USD grinds higher around 1.0090 during Monday’s sluggish session as China’s off and a light calendar joins pre-data anxiety. However, the recently
Read more »