We’ve bought a few mid-tier U.S. experiences on deck right now, and these is likely to be sufficient to spur greenback motion.
Suppose EUR/USD can keep on with this development?
Earlier than transferring on, ICYMI, yesterday’s watchlist checked out NZD/CHF’s regular uptrend. You should definitely take a look at if it’s nonetheless a sound play!
And now for the headlines that rocked the markets within the final buying and selling periods:
Contemporary Market Headlines & Financial Information:
S&P 500 index chalks up third consecutive acquire on Russia-Ukraine peace talks
Japanese unemployment fee dipped from 2.8% to 2.7% in March
BOJ Governor Kuroda: No adjustments in coverage stance, no plans to situation CBDC
Shanghai rolling out financial assist insurance policies to assist companies in lockdown
Australian retail gross sales jumped one other 1.8% vs. projected 0.9% uptick
German GfK shopper local weather index sank from -8.5 to -15.5 vs. -14.6 consensus
German import costs rose 1.3% vs. projected 1.5% acquire
U.Okay. mortgage approvals fell from 74K to 71K vs. 75K forecast
SNB suggests risk of repo fee transactions being listed to coverage fee
U.S. 2-year and 10-year Treasury yields proceed to rise
U.S. JOLTS job openings at 2:00 pm GMT
U.S. CB shopper confidence index at 2:00 pm GMT
SNB Governing Board member Zurbrugg’s speech at 4:30 pm GMT
New Zealand constructing consents at 9:30 pm GMT
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What to Watch: EUR/USD
EUR/USD 1-hour Foreign exchange Chart
This pair has been cruising inside a descending channel on its 1-hour chart, and it seems to be like one other pullback to the resistance is underway.
Will sellers proceed to defend the ceiling?
The Fib retracement software exhibits that that is proper smack in step with the 61.8% stage and the 1.1000 main psychological mark, which implies that it’s a major entry space.
Stochastic is edging larger, so there would possibly nonetheless be house for a bigger correction, however the oscillator is closing in on the overbought zone to sign rally exhaustion.
Turning decrease would verify that euro bears are returning and able to take EUR/USD again all the way down to the swing low round 1.0950 or the channel assist.
Catalysts to be careful for embody the U.S. JOLTS job openings report, which could have some clues for the NFP, and the U.S. CB shopper confidence index. Robust readings might maintain expectations of back-to-back Fed hikes in play, which is likely to be bullish for the Dollar.
