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On July 30th, Federal Reserve Chairman Warsh stated that since the June meeting, financial markets have already priced in most of the effects of the Feds tightening policy, therefore he does not agree with describing the decision to maintain interest rates as a "pause." Warsh said, "I wouldnt call todays decision a pause in any sense. If you have to label it a pause, then the performance of the financial markets shows the opposite." Since the Feds mid-June policy meeting, the yields on both 2-year and 10-year U.S. Treasury bonds have risen by approximately 20 basis points. Warsh pointed out that during this period, financial markets did not "pause" their adjustments, but rather continuously repriced based on inflation data and economic growth performance: on the one hand, inflation data influenced market expectations; on the other hand, strong economic growth pushed both nominal and real interest rates higher. He stated, "Today, the Fed did not explicitly adjust the policy rate, thats true. But I think this is just the beginning of the whole policy story, not the end."Canadas Minister for Trade to the United States said he held comprehensive talks with U.S. Trade Representative Greer, and both sides agreed to maintain close contact.On July 30th, Federal Reserve Chairman Warsh told reporters that he does not believe there is a general "conflict" between the central banks dual mandate—maximum employment and price stability. "My judgment is that when we fulfill our mandate, we will achieve both goals simultaneously," Warsh said, adding that there is no either-or choice regarding inflation and employment. "Neither part of our mission has been forgotten," he said, noting that what is truly damaging the markets is the problem of high and volatile inflation.US President Trump: Federal Reserve Chairman Warsh has a council, and its a political council. Warsh wants to see lower interest rates.US President Trump: Federal Reserve Chairman Warsh is excellent.

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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