EUR/USD 1.16059
-0.233%
Gold 4318.26
-1.892%
Oil 99.763
5.892%
USD/JPY 154.415
0.565%
GBP/USD 1.35048
-0.304%
GBP/JPY 208.539
0.277%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the Iranian news agency IRNA: News sources say that multiple explosions have been heard in a southern Saudi city, caused by missile attacks by Houthi rebels.On September 11, Israeli Prime Minister Benjamin Netanyahu and Defense Minister Katz issued a joint statement on the evening of the 10th, saying that the Israeli military had destroyed Hezbollahs underground infrastructure in the Ali Tahir Ridge area of southern Lebanon that day. The Israel Defense Forces (IDF) stated that evening that more than 1,100 tons of explosives were used in the blast to destroy tunnels beneath the ridge.Sources say that Altera, a programmable chip company backed by Silver Lake and Intel (INTC.O), is preparing for an initial public offering as early as this year.SpaceX (SPCX.O) CFO: More confident in achieving $100 billion in annualized revenue.On September 11, CNN, citing multiple sources, reported that over 100 US military advisors are currently stationed in Saudi Arabia, providing intelligence and targeting support for Saudi Arabias military operation against the Houthi rebels in Yemen. A US official stated that the US personnel belong to a recently established joint force command, totaling approximately 200 people. Sources indicated that the US is providing Saudi Arabia with targeting tools for real-time battlefield monitoring and offering geospatial support, but the US military is not currently directly involved in airstrikes or providing aerial refueling or other operational support to Saudi aircraft. The focus is primarily on helping Saudi Arabia conduct its military operations more smoothly and professionally. The report points out that this expansion of US support comes as the Houthi rebels have recently advanced on the Yemeni peninsula, potentially reaching the highest level of conflict since 2022. The Houthis recent capture of a strategically important Red Sea port has exacerbated concerns in both the US and Saudi Arabia about the formation of a "second front" in the conflict. A US official stated that the US believes hundreds of Iranian Revolutionary Guard members are currently cooperating with the Houthis in Yemen, one of their objectives being to close the Bab el-Mandeb Strait, which connects the Red Sea and the Indian Ocean. However, the US military remains cautious about deep involvement in Saudi Arabias operation against the Houthis, fearing that if the operation results in civilian casualties, it will bring back past controversies.

EURUSD attracts sells below 1.0400 in anticipation of Lagarde's ECB address

Daniel Rogers

Nov 18, 2022 15:12

 截屏2022-11-18 上午11.29.22.png

 

The EURUSD lacks direction at 1.0365 on Friday morning after registering its first daily loss in three sessions. In a poor session preceding Christine Lagarde's speech as president of the European Central Bank, the primary currency pair reduces its weekly gains (ECB).

 

The inability of the US Dollar to justify the recovery in US Treasury yields from their six-week low has recently exerted pressure on the EURUSD bearish. The cautious optimism around US President Joe Biden's effort to relax student loan regulations and the most recent survey on the Fed's next move may also pose a danger to pair sellers.

 

The Biden administration will seek the Supreme Court to reinstate the student loan debt relief program, according to CNBC. On the other hand, the Philadelphia Fed Manufacturing Index and housing data for October may have put doubt on the Fed's recent hawkish language.

 

In addition, the most recent Reuters poll for the US Federal Reserve (Fed) indicates that the Fed will downshift in December to deliver a 50 basis point (bps) interest rate hike, but a longer period of US central bank tightening and a higher policy rate peak are the greatest risks to the current outlook.

 

Nonetheless, strong Fed language and weakening Eurozone data may be regarded as the pair's most recent difficulties. Thursday, James Bullard, president of the Federal Reserve Bank of St. Louis, remarked that the US Federal Reserve's (Fed) monetary policy is not now deemed restrictive enough to reduce inflation. In a similar vein, Neel Kashkari, president of the Minneapolis Federal Reserve Bank, stated: "With inflation remaining high and a substantial degree of monetary policy tightening already underway, it is questionable how high the US central bank will need to increase the policy rate."

 

Notably, a downward revision to Eurozone inflation data, as measured by the Harmonized Index of Consumer Prices (HICP), to 10.6% (final) in October from 9.9% (preliminary) in September also favored EURUSD bears the day before.

 

The benchmark 10-year US Treasury yields recovered from a six-week low before remaining roughly unchanged at 3.77 percent, while the S&P 500 Futures remain uncertain as of press time.

 

As the pair loses bullish momentum, a remark from ECB President Lagarde will be crucial for EURUSD price action in the immediate future. However, hawkish words from Lagarde and lower US Existing Home Sales statistics for October will keep bulls in play.

Suggestion