EUR/USD 1.18208
0.563%
Gold 4981.50
0.923%
Oil 61.059
2.474%
USD/JPY 155.813
-1.645%
GBP/USD 1.36362
0.994%
GBP/JPY 212.474
-0.652%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
European Commission President Ursula von der Leyen: We are close to finalizing a free trade agreement with India.On January 24th, Fujian Provincial Automobile Transportation Group Co., Ltd. and CATL officially signed a strategic cooperation framework agreement in Ningde, Fujian. The two parties will engage in in-depth cooperation in key areas such as vehicle aftermarket services, city-level battery swapping network construction, and vehicle-to-grid (V2G) interaction technology. In the future, they will jointly build a sustainable industrial ecosystem, continuously promote the deep integration of new energy technologies and urban public transportation systems, contribute innovative power to optimizing urban energy structure and achieving "dual-carbon" goals, and lead the green transformation of public transportation.On January 24th, according to foreign media reports, U.S. Treasury Secretary Bessant, in an interview with conservative podcast host Posobetz, stated, "Alberta is a natural partner of the United States. They have excellent resources, and Albertans are very independent. There are rumors that they might hold a referendum on whether to remain in Canada." Bessant also stated that the Canadian federal government is limiting Albertas development potential, citing Ottawas opposition to building an oil pipeline from Alberta to the Pacific coast of British Columbia, hindering the export of local energy resources. Bessant further pointed out that in the current context, Alberta is a "natural partner" of the United States, possessing abundant resources and a highly independent social atmosphere.Market news: Syrian authorities and the Syrian Democratic Forces have reached an agreement to extend the ceasefire in the Hasakah region for up to another month.January 24th - According to the Yunnan Branch of the Peoples Bank of China, Yunnan Provinces total cross-border RMB receipts and payments reached 100.179 billion yuan in 2025, a year-on-year increase of 13%. Regional cooperation has become an important driving force for the cross-border use of RMB. In 2025, the scale of cross-border RMB receipts and payments between Yunnan Province and countries participating in the Belt and Road Initiative accounted for 80% of the provinces total, with settlements with Myanmar, Laos, and Thailand increasing by 8%, 14%, and 42%, respectively.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

EUR:USD.png

 

Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


Suggestion