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Editors’ Picks

AUD/USD renews two-month lows near 0.7050

AUD/USD refreshes two-month lows near 0.7050, having stalled its bounce around 0.7075 region. The US dollar appears to have regained poise amid tepid market mood. The focus is now on whether the US dollar gives back some ground ahead of US data, Powell Day 3. 

AUD/USD News

Gold's potential short-term reprieve if USD pulls back

Gold prices have deteriorated in the US dollar's relentless comeback as investors move away from stocks. The price of the dollar is correlated to gold, so it stands to reason that if the dollar is about to tail off its gains, then gold should find reprieve.

Gold News

USD/JPY: This could be the bulls's last dance in the 105, eyes on 103.50s

USD/JPY is stalling at market structure and bears and looking for opportunity to the downside. Bulls might have some upside to go yet, but the air will be getting thinner in those heights.

USD/JPY News

WTI: Oil sellers face rejection below $39.30 for third straight day

WTI fades the drop to sub-$39.30 levels for the third consecutive day. The repeated bear failure may entice buyers and yield a bounce. However, Sept. 18 high remains a level to beat for the bulls.

Oil News

Euro outlook: Is 1.15 next?

Investors continued to sell euros on Wednesday, driving the currency to its weakest level since July. Europe’s greatest fear is materializing with the number of coronavirus cases exceeding 5 million. As we indicated at the start of the week, stricter restrictions are on their way.

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Majors

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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 2020

In her article called “Lean times soon to turn into flush times for euro dollar” published at the end of the year 2019, Valeria Bednarik talks about the EUR/USD Forecast and explains that "the focus this time shouldn’t be put on technical readings, but in politics".

"2020 should be the year of change. Or at least, the year when things begin to change. The recent trade deals hint some relief in the trade war front, hence in growth’s concerns. Whether the economies will be able to grow or not without the trade conflict in the way, is a different story. But optimism is supposed to reign."

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.