EUR/USD: Easing inflation data in the Eurozone to dampen the Euro – Commerzbank

The ECB continues to attract attention with hawkish comments. But November inflation figures in the Eurozone could dampen rate fantasies on easing inflation, economists at Commerzbank report.Eurozone inflation expected to have eased slightly in November “The recently hawkish ECB comments have fuelled speculation about a 75 bps step. If the inflation data today and aboveContinue reading “EUR/USD: Easing inflation data in the Eurozone to dampen the Euro – Commerzbank”

EUR/USD: Further gains to the low 1.06 area are possible .

EUR/USD has reached its highest since the summer. Economists at Scotiabank believe that the pair could hit the 1.06 region.Test of the low 1.05 area is beckoning “A test of the low 1.05 area (50% retracement of the 2022 decline) is beckoning.” “Broader trends are bullish, with the EUR trading above its 200-day MA andContinue reading “EUR/USD: Further gains to the low 1.06 area are possible .”

GBP/USD corrects back closer to mid-1.2000s amid modest USD recovery.

GBP/USD retreats from a multi-month high amid a modest pickup in the USD demand. An uptick in the US bond yields prompts some USD short-covering amid thin trading. Bets for less aggressive Fed rate hikes might cap the buck and lend support to the pair. The GBP/USD pair edges lower on Friday and moves awayContinue reading “GBP/USD corrects back closer to mid-1.2000s amid modest USD recovery.”

EUR/USD may extend its rally to 1.0500/1.0550 in the near term.

EUR/USD has broken above 1.0400. The cuurency pair could extend its race higher to the 1.0500/50 area in the near term, in the opinion of analysts at ING.Return towards parity likely in December “EUR/USD may extend its rally to 1.0500/1.0550 in the near term, but we suspect the bullish trend may start to run outContinue reading “EUR/USD may extend its rally to 1.0500/1.0550 in the near term.”