EUR/USD 1.16963
0.070%
Gold 4466.16
-0.636%
Oil 56.183
-1.121%
USD/JPY 156.530
-0.087%
GBP/USD 1.35064
0.037%
GBP/JPY 211.420
0.014%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Leapmotor: The Leapmotor Lafa5 has sold a total of 17,042 units in 35 days since its launch.January 7th - IKEA announced that it will cease operations of seven physical locations, including the IKEA Shanghai Baoshan Store, IKEA Guangzhou Panyu Store, IKEA Tianjin Zhongbei Store, IKEA Nantong Store, IKEA Xuzhou Store, IKEA Ningbo Store, and IKEA Harbin Store, effective February 2, 2026. IKEA plans to open more than ten smaller stores over the next two years, including the IKEA Dongguan Store scheduled to open in February 2026 and the IKEA Beijing Tongzhou Store scheduled to open in April 2026.January 7th - Hong Kong stocks closed at midday with the Hang Seng Index down 1.01% and the Hang Seng Tech Index down 1.65%. On the sector front, innovative drugs, batteries, rare earth concepts, non-ferrous metals, and catering sectors led the gains, while film and entertainment, short video concepts, automobiles, mobile games, and oil sectors led the declines. Tigermed (03347.HK) rose nearly 6%, while Jinli Permanent Magnet (06680.HK) and Luoyang Molybdenum (03993.HK) rose over 5%, Jiumaojiu (09922.HK) rose over 4%, and WuXi AppTec (02359.HK), Hansoh Pharmaceutical (03692.HK), and Hua Hong Semiconductor (01347.HK) rose over 3%. NetEase Cloud Music (09899.HK) fell over 6%, Alibaba (09988.HK) fell over 4%, and PetroChina (00857.HK), NIO (09866.HK), and BYD (01211.HK) fell over 3%. Baidu (09888.HK) saw a short-term surge and turned positive intraday, driven by news that its AI chip subsidiary, Kunlun Chip, plans to raise up to $2 billion in a Hong Kong IPO.January 7th, Futures News: Economies.com analysts latest view: WTI crude oil futures have fallen sharply in recent intraday trading, influenced by the negative pressure of the EMA50, indicating weak momentum and currently imposing clear limitations on any bullish rebound attempts. Although oversold levels have been reached, the Relative Strength Index (RSI) is also sending negative signals, indicating that selling pressure remains dominant under the prevailing short-term bearish trend, foreshadowing technical signals that could threaten future profit-taking attempts.Sources say that Kunlun Chip, Baidu’s AI chip division, is reportedly selecting underwriters for its Hong Kong IPO.

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