The value of the euro weakened against its US counterpart Wednesday, snapping a two-day bullish phase. A revival of USD bidding, driven by advancing US Treasury yields, weighed on the EUR/USD.
28
Feb
2019
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27
Feb
2019
Wednesday 27th February: Canadian inflation eyed in early US trade – remain vigilant.
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Pressured by declining US Treasury yields, the US dollar Index (calculated by factoring in the exchange rates of six major world currencies) extended losses Tuesday, shaking hands with its lowest level in three weeks at 95.95.
26
Feb
2019
Tuesday 26th February: Fed Chair Powell testifies in early US hours – remain vigilant around this time, traders.
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Sterling marginally breached 1.31 to the upside Monday and tested February’s opening level plotted nearby at 1.3108 (H4), following news UK Labour would support a second referendum should the Brexit deal be rejected this week.
24
Feb
2019
Monday 25th February: Weekly technical outlook and review.
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Worries in the German business world continued to grow Friday, following the ifo Business Climate Index falling from 99.3 points (seasonally adjusted) in January to 98.5 points in February.
22
Feb
2019
Friday 22nd February: Slew of FOMC members take to the stage today – remain vigilant, traders.
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The euro concluded the day unchanged between the 1.1366 highs and 1.1320 lows, and weathering mixed Eurozone flash PMIs and disappointing US durable goods orders.