Share:

The Euro was able to appreciate against the Dollar last week and extend its gain yesterday. The current data heavyweight, the US labour market report, is due for publication on Friday. The duel is far from decided, according to economists at Commerzbank. 

The Dollar remains in control this week

“Many market participants will still be apprehensive following the Dollar’s strong upside move four weeks ago after the surprisingly positive NFP for January. As a result, they will probably be cautious about taking a too strong position against the USD over the course of the week.”

“If it becomes evident that the labour market is not showing any signs of weakening at all despite the massive rate hikes in the past, the market is going to rely more heavily on further Fed rate hikes and interest rates remaining at these levels for longer. That would be positive for USD.”

“Next week focus is likely to be back on the Euro, as the ECB meeting too might provide some surprises after the inflation data in the Eurozone surprised on the upside. After that it is back to the USD though as the FOMC meeting will be held during the following week. That means, the battle between EUR and USD is far from decided.”

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD keeps range near 1.0850 after EU Sentix data

EUR/USD keeps range near 1.0850 after EU Sentix data

EUR/USD is keeping its upbeat momentum intact near 1.0850 after the Eurozone Sentix Investor Confidence improved to -10.5 in March. The US Dollar is struggling, as traders stay cautious ahead of a big week, with the ECB rate decision and Powell's testimony in focus. 

EUR/USD News

GBP/USD clings to gains below 1.2700 as US Dollar struggles

GBP/USD clings to gains below 1.2700 as US Dollar struggles

GBP/USD is holding gains below 1.2700 in the European trading hours on Monday. A subdued US Dollar combined with an improvement in market sentiment keeps the pair afloat amid a data-light calendar on both sides of the Atlantic. 

GBP/USD News

Gold price stands tall near two-month top, eyes $2,100 amid rising June Fed rate cut bets

Gold price stands tall near two-month top, eyes $2,100 amid rising June Fed rate cut bets

Gold price (XAU/USD) attracts some buyers for the fourth successive day on Monday and trades near its highest level since December 28 touched on Friday. 

Gold News

XRP price hits new yearly high at $0.65, attorney says Ripple’s influence on XRP is decelerating

XRP price hits new yearly high at $0.65, attorney says Ripple’s influence on XRP is decelerating

XRP price climbed to a new 2024 high of $0.65 on Saturday and suffered a minor pullback to $0.63, early on Monday. The altcoin has sustained above the psychologically important level of $0.60 amidst developments in the SEC v. Ripple lawsuit.

Read more

A week packed with data and decisions

A week packed with data and decisions

In the US, the week will be packed with jobs data and Fed Chair Powell’s congressional testimony. The US economy is expected to have added around 190K new nonfarm jobs, the unemployment rate is seen steady near 3.7%. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures