EUR/USD trade idea and see it moving below parity. They consider the euro will be affected by ongoing fears over disruption to the Eurozone economy and fragmentation risks.
“We expect the EUR to remain under downward pressure in the near-term driven by ongoing fears over disruption to the euro-zone economy from energy supply constraints and fragmentation risks.”
“The release of the euro-zone PMI surveys for July have further reinforced fears for a sharper slowdown/recession for the euro-zone economy in 2H of this year. We also expect Italian bond yields to continue experiencing upward pressure ahead off the snap elections to be held on 25th September.”
“We are not expecting the ECB to step in to support the Italian bond market in response to higher political uncertainty unless yields spike higher. We expect these negative factors to outweigh the ECB’s more front-loaded tightening.”
EURUSD extends rebound beyond 1.0200 after US data
EURUSD has extended its recovery and reclaimed 1.0200 in the American session on Friday. After the data from the US pointed to a contraction in the private sectors business activity in early July, the dollar came under renewed selling pressure.
GBP/USD rises toward 1.2050 amid renewed dollar weakness
GBP/USD has gathered bullish momentum and advanced above 1.2000 ahead of the weekend. The weaker-than-expected Services and Composite PMI reading from the US caused the dollar to lose interest, fueling the pair’s rally.
Gold climbs above $1,730 as US yields push lower
Gold price has stretched its daily rally above $1,730 in the American session on Friday. With the benchmark 10-year US Treasury bond yield losing more than 4% on the day after disappointing PMI data, XAUUSD continues to gather bullish momentum.
Three reasons why Dogecoin price is ready to beat bear market woes
Dogecoin launched a new update to improve security and efficiency and lowered dust limits for all network participants from 1 DOGE to 0.01 DOGE.