EUR/USD on track to reach 1.10, says City Index analyst
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#5acfe72f ver:0.55
EUR/USD remains range-bound as traders await US economic data. Weakness in the labor market could lead to a decline in the dollar, while positive data could support the currency. Technical analysis suggests bearish pressure, but MUFG expects net gains to reach 1.12. The euro has resisted falling to parity with the dollar thanks to an improving macro backdrop. MUFG recommends buying EUR/USD as the Euro gains strength against the USD amid favorable economic conditions in the euro-zone. EUR/USD rises to 1.0870 as the US Dollar tumbles due to soft US inflation and weak retail sales data. Higher interest rates generally help strengthen a country's currency. EUR/USD climbs to its highest level in nearly two months above 1.0890 as market focus shifts to mid-tier US data releases and Fedspeak....
#newstr #Eur/usd #ExchangeRate #Forecast #UsEconomy #Inflation #RateCuts #ResistanceLevels #SupportLevels
https://here.news/story/5acfe72f?ver=0.55
EUR/USD Rises as Mixed US Data Underwhelms /
npub1nx…4er6y
2024-05-16 15:04:58
Author Public Key
npub1nxtctmvfq92je3d96hrpupzva05nnz0fckgurxcqkfhyeehpzrusc4er6yPublished at
2024-05-16 15:04:58Event JSON
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"content": "EUR/USD on track to reach 1.10, says City Index analyst\n===============\t\n#5acfe72f ver:0.55\n\nEUR/USD remains range-bound as traders await US economic data. Weakness in the labor market could lead to a decline in the dollar, while positive data could support the currency. Technical analysis suggests bearish pressure, but MUFG expects net gains to reach 1.12. The euro has resisted falling to parity with the dollar thanks to an improving macro backdrop. MUFG recommends buying EUR/USD as the Euro gains strength against the USD amid favorable economic conditions in the euro-zone. EUR/USD rises to 1.0870 as the US Dollar tumbles due to soft US inflation and weak retail sales data. Higher interest rates generally help strengthen a country's currency. EUR/USD climbs to its highest level in nearly two months above 1.0890 as market focus shifts to mid-tier US data releases and Fedspeak....\n\n#newstr #Eur/usd #ExchangeRate #Forecast #UsEconomy #Inflation #RateCuts #ResistanceLevels #SupportLevels \n\n https://here.news/story/5acfe72f?ver=0.55",
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