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European allies have "lost hope of the United States remaining in NATO"; the situation may be beyond repair.1. Monday: ① Data: US March ISM Non-Manufacturing PMI; US March Global Supply Chain Stress Index. ② Holiday: Germany, Australia, France, Spain, New Zealand, Italy, UK, Shanghai and Shenzhen Stock Exchanges and Beijing Stock Exchanges, domestic futures exchanges, Hong Kong Stock Exchange closed for one day, northbound and southbound trading closed, Taiwan Stock Exchange closed for one day. 2. Tuesday: ① Data: France, Germany, Eurozone, UK March Services PMI final readings; Eurozone April Sentix Investor Confidence Index; US March New York Fed 1-year Inflation Expectations; China March Foreign Exchange Reserves. ② Events: US President Trump holds a joint press conference with the military in the Oval Office; a new round of price adjustments for domestic refined oil products will begin. ③ Holiday: Hong Kong Stock Exchange closed for one day, northbound and southbound trading closed. 3. Wednesday: ① Data: US API and EIA crude oil inventories for the week ending April 3; Japans February trade balance; New Zealands Reserve Bank of New Zealand interest rate decision for the week ending April 8; UKs March Halifax seasonally adjusted house price index (MoM); Frances February trade balance; Switzerlands March seasonally adjusted unemployment rate; Eurozones February PPI (MoM); Eurozones February retail sales (MoM). ② Events: EIA releases its monthly Short-Term Energy Outlook report; Chicago Fed President Goolsby, a 2027 FOMC voting member, speaks on monetary policy; Reserve Bank of New Zealand announces its interest rate decision; Reserve Bank of New Zealand Governor Brehman holds a monetary policy press conference. 4. Thursday: ① Data: US 10-year Treasury auction (ending April 8); German February seasonally adjusted industrial production (month-on-month); German February seasonally adjusted trade balance; US initial jobless claims for the week ending April 4; US February core PCE price index (year-on-year); US February personal spending (month-on-month); US Q4 final annualized GDP growth rate; US Q4 final real personal consumption expenditure growth rate; US Q4 final annualized core PCE price index (month-on-month); US February core PCE price index (month-on-month); US February wholesale sales (month-on-month); US EIA natural gas storage for the week ending April 3. ② Events: Federal Reserve releases monetary policy meeting minutes; Swiss National Bank President Schlegel delivers a speech. 5. Friday: ① Data: Chinas March CPI year-on-year rate; Germanys final March CPI month-on-month rate; Switzerlands March consumer confidence index; Canadas March employment change; US March unadjusted CPI year-on-year rate, seasonally adjusted CPI month-on-month rate, seasonally adjusted core CPI month-on-month rate, and unadjusted core CPI year-on-year rate; US April one-year inflation rate expectations (preliminary); US April University of Michigan consumer sentiment index (preliminary); US February factory orders month-on-month rate; Chinas March M2 money supply year-on-year rate (pending). 6. Saturday: ① Data: US total number of oil rigs for the week ending April 10.The Jordanian military said it shot down two missiles and two drones launched by Iran into the country’s airspace in the past 24 hours.On April 6th, US President Trump stated in an interview on April 5th that the US is currently engaged in "in-depth negotiations" with Iran and hopes to reach an agreement before his April 7th deadline. Two sources indicated that the negotiations are being conducted through mediators from Pakistan, Egypt, and Turkey, and there has also been communication between Trumps advisors and the Iranian Foreign Minister. Trump stated that his special envoy, Witkov, and his son-in-law, Kushner, are conducting intensive negotiations with the Iranian side. Trump said that an agreement is very likely, but if an agreement cannot be reached, he will destroy everything there. Previously, Trump had threatened to destroy infrastructure vital to Iranian civilians if an agreement could not be reached with Iranian leaders.On April 6, Iranian Foreign Minister Araqchi stated during a phone call with Russian Foreign Minister Lavrov that the US threat to attack Iranian energy facilities was Washingtons "admission" of war crimes. In a statement, Iran said, "The Iranian Foreign Minister mentioned the US threat to attack Iranian energy facilities, considering these remarks a clear admission of war crimes." Araqchi pointed out that since the start of the war, the US has been attacking Irans industrial, energy, educational, medical, and nuclear infrastructure. He emphasized that the UN Security Council and the International Atomic Energy Agency should immediately condemn the US attacks on Iranian facilities.

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.