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Editors’ Picks

EUR/USD stays defensive above 1.1300 as Omicron, inflation concerns loom

EUR/USD is trading below 1.1350, consolidating the biggest daily jump in fortnight. The US dollar pauses its rebound amid cautious optimism. Omicron, US-China woes keep investors on the edge, Rising US inflation expectations underpin the yields. US jobless claims, Omicron updates closely eyed.

EUR/USD News

GBP/USD trades with modest gains above 1.3200 mark, lacks follow-through

GBP/USD is trading flat above 1.3200, struggling to capitalize on the overnight goodish rebound from a one-year low. Fresh COVID-19 jitters pushed back BoE rate hike expectations and undermined the pound. Resurgent USD demand further stalled aggressive bullish bets.

GBP/USD News

Gold traders seem non-committed below 200/100-DMA, US CPI awaited Premium

Gold prices inched higher on Wednesday and touched a one-week high, albeit struggled to capitalize on the move and faced rejection near the very important 200-day SMA. Investors seemed reluctant to place aggressive bets ahead of the key US consumer inflation data.

Gold News

Why MATIC price could soon see a meteoric rise toward the round level of $4

MATIC price appears to be ready for a major upswing toward $3.84 as Polygon presented a bullish chart pattern on the daily chart. The governing technical pattern suggests that the layer-2 token is preparing for a 62% climb.

Read more

Will Apple (AAPL) break $200 before year end?

Apple is on course for a $3 trillion market cap, which would make it very close to the GDP of Germany at $3.8 trillion. Currently, Apple is valued at $2.8 trillion. Tuesday's move meant Apple surpassed the GDP of notable countries such as France and the UK.

Read more

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THE MOST TRADED CURRENCY PAIR

The EUR/USD (or Euro Dollar) currency pair belongs to the group of 'Majors', a way to mention the most important pairs in the world. The popularity of Euro Dollar is due to the fact that it gathers two main economies: Europe and the United States of America. This is a widely traded currency pair where the Euro is the base currency and the US Dollar is the counter currency. Since the EUR/USD pair consists of more than half of all the trading volume worldwide in the Forex Market, it is almost impossible for a gap to appear, let alone a consequent breakaway gap in the opposite direction.

The EUR/USD reached an all time high of 1.6038 in July 2008 and a record low of 0.8231 in October 2000.


EUR/USD FORECAST 2021

In her article “Euro-dollar long-term bullish breakout points to 1.2750” published at the end of the year 2020, Valeria Bednarik talks about the EUR/USD Forecast and explains that "EUR/USD market players hope for a return to economic growth by mid-2021".

"Social distancing, face-masks and remote working are part of a new normal that will likely continue through 2021. Monetary stimulus is here to stay and not just in Europe and the US. The pace of monetary stimulus will remain high as long as economies struggle with the virus and restrictions. An economic comeback could mean decreasing stimulus for 2021 and Wall Street may take the hit."

Read Valeria’s full article.


MOST INFLUENTIAL CURRENCIES FOR EUR/USD

The EUR/USD pair can also be impacted by other currencies, in particular GBP, CAD, JPY, CNY, and AUD. This group also includes the following currency pairs: GBP/USD, USD/JPY, AUD/USD, USD/CHF, NZD/USD, USD/CAD, GBP/JPY and EUR/JPY

MOST INFLUENTIAL ORGANIZATIONS FOR EUR/USD

The organization that most impact has nowadays the EUR/USD is the Federal Reserve, the central banking system of the United States of America created with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Jerome Powell is Fed's Chair, serving in that office since February 2018.

The Board of Governors (also known as the Federal Reserve Board) is carefully observed. The board meets several times per year and announces the interest rates. If rates remain unchanged, attention turns to the tone of the FOMC (Federal Open Market Committee) statement. Also particularly significant are the 12 Federal Reserve Banks that make up the Federal Reserve. These Federal District Reserve Districts issue their own statements and research data that give hints about the health of the US economy and might as well influence dollar-related currency pairs.

The US Government is as well an institution of great importance for the EUR/USD pair: events as administration statements, new laws and regulations or fiscal policy can increase or decrease the value of the US Dollar and the currencies traded against it.

Not only American institutions influence the EUR/USD pair, European too of course. And the number one organization is the European Central Bank, which is the central bank for the euro and administers monetary policy within the Eurozone, comprising 19 member states of the European Union and is one of the largest monetary areas in the world. ECB's main objective is to maintain price stability for the Euro while setting and implementing the monetary policy for the Eurozone (including interest rates). It also conducts foreign exchange operations and takes care of the foreign reserves of the European System of Central Banks. Christine Lagarde is ECB's President since November 2019.