In a limited range of variation below the 1,02 level deals the common European currency, having mild downtrends momentum with corrections.
Day is of great interest as the announcement of the growth path of the European economy is expected and then the minutes from the last Fed's meeting.
From Fed's minutes may we will get some more information about the intentions of the central bank officials for the path of interest rate increases in the next meetings.
The shadow of the ghost of possible stagflation continues to loom over the European economy mainly due to the energy crisis.
However, significant optimism is visible on the horizon from the last significant de-escalation in oil prices, which has already slipped to 86 dollars.
A large portion of analysts expects the worst for the rest of the year, a very difficult winter for the European economy, we would not fully adopt these pessimistic views as we are expecting a more optimistic scenario especially in the matter of energy prices.
Although the possibility of the common European currency falling back below parity is high, perhaps signaling new lows beyond the 0.9950 level, the reactions will be expected and quite significant creating a good scenario for buying strategies in market dips which has absolutely confirmed in recent weeks.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD stays near 1.0800 after upbeat US data
EUR/USD stays under modest bearish pressure and trades near 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.