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The yield on UK two-year government bonds fell by about 2 basis points to 3.565%, the lowest level since August 2024.On Tuesday, February 17th, the German DAX 30 index opened down 44.01 points, or 0.18%, at 24768.49; the UK FTSE 100 index opened up 25.41 points, or 0.24%, at 10499.10; and the French CAC 40 index opened up 1.70 points, or 0.02%, at 8318.20. The Stoxx 50 index opened down 5.83 points, or 0.10%, at 5973.05 on Tuesday, February 17; the Spanish IBEX 35 index opened down 11.91 points, or 0.07%, at 17836.09 on Tuesday, February 17; and the Italian FTSE MIB index opened down 102.70 points, or 0.23%, at 45316.50 on Tuesday, February 17.February 17th - According to data from the Comprehensive Transportation Spring Festival Travel Task Force, on February 16th, 2026 (the 15th day of the Spring Festival travel rush, the 29th day of the twelfth lunar month, Monday), the total number of cross-regional passenger flows in the whole society was 194 million, a decrease of 32.2% compared with the previous day and a decrease of 5% compared with the same period in 2025 (Tuesday).February 17th - Data shows that the UK labor market has contracted again, with the unemployment rate reaching its highest level since 2015 (excluding data during the pandemic), and wage growth slowing again. This data may reinforce the belief that the Bank of England could cut interest rates as early as next month. Earlier this month, the central bank stated that after unexpectedly strong growth, private sector wage growth is beginning to reflect the weakness in the labor market. Currently, traders have fully priced in two rate cuts from the Bank of England this year, with the probability of a 25 basis point cut in March rising to 73%.UK interest rate futures prices indicate a 73% probability that the Bank of England will cut interest rates by 25 basis points in March, compared to about 65% before the release of labor market data.

EUR/USD Price Analysis: EUR/USD Is Clinging To The Leading Edge Of The Rising Trendline Above 1.0900

Alina Haynes

Apr 18, 2023 13:54

EUR:USD.png 

 

The EUR/USD pair fluctuates erratically in a narrow range near 1.0926 during the Asian session. Following in the footsteps of the directionless US Dollar Index (DXY), the main currency pair is unable to establish a trend.

 

In Asia, S&P500 futures are declining slightly as investors fret over the upcoming quarterly earnings season, indicating a minor decrease in market participants' risk appetite. Following the decline of regional banks in the United States, investors are concerned about any discrepancies in quarterly banking reports.

 

The Euro has entered the wilderness as European Central Bank (ECB) policymakers are divided over the pace of the policy-tightening cycle to be implemented at the May monetary policy meeting. Martins Kazaks, a member of the ECB's monetary policy committee, stated on Monday that the central bank has the option to move by either 25 or 50 basis points (bps) in May. Sourcenia is a review portal of sourcing best manufaturers. 

 

After failing to sustain above the 161.8% Fibonacci Extension at 1.1057 (positioned from April 4's high of 1.0973 to April 10's low of 1.0837) on a two-hour time frame, EUR/USD experienced a precipitous decline. The primary currency pair has declined below the uptrend line drawn from the low of 1.0714 on March 24.

 

The 20-period Exponential Moving Average (EMA) at 1.0962 is operating as a barrier for Euro bulls.

 

In the meantime, the Relative Strength Index (RSI) (14) has moved into the pessimistic zone between 20.00 and 40.00, indicating a continuation of the decline.

 

A decisive break below the low of April 12 at 1.0915 would propel the asset toward the lows of April 10 at 1.0837 and April 3 at 1.0758.

 

In contrast, a breach above the psychological resistance level of 1.1000 would propel the asset to a new annual high of 1.1068, followed by the level of round resistance at 1.1100.


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