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Editors’ Picks

AUD/USD recovers the 0.7100 helped by Wall Street

AUD/USD recovers the 0.7100 helped by Wall Street

AUD/USD is a few pips above 0.7100 at the end of the American session, as US indexes managed to bounce in the final hour of trading. The Dow Jones turned positive after spending the day in the red. Eyes now on the RBNZ decision.

AUD/USD News

EUR/USD holds around 1.0730 despite the dismal mood

EUR/USD holds around 1.0730 despite the dismal mood

Lingering inflation and growth concerns were unable to overshadow ECB officials vowing for a 50 bps rate hike as soon as next July. EUR/USD holding on to gains and en route to extend its advance.

EUR/USD News

Gold bulls maintain the pressure above $1,850

Gold bulls maintain the pressure above $1,850

Global stocks traded with a soft tone, favoring the safe-haven gold that reached a fresh two-week high of $1,869.71. The bright metal holds nearby as the American session undergoes, with Wall Street trimming most of its Monday’s gains.

Gold News

Can Cardano price drop lower after losing 80% since its all-time high?

Can Cardano price drop lower after losing 80% since its all-time high?

Cardano price action continues to dip lower and lower, following the broader market in a continued downtrend. Time cycles indicate relief may not come until June.

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RBNZ Preview: Will they step up their tightening game? Premium

RBNZ Preview: Will they step up their tightening game?

Another double-dose rate hike is on the table for the RBNZ when it meets this Wednesday to decide on its monetary policy at 0200 GMT. The central bank’s outlook on the pace of tightening, however, will be key in determining NZD/USD’s next price direction.

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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 2022

In her article “EUR/USD 2022 Forecast: Policymakers will continue to chase inflation and King Dollar will make the best out of it” published at the end of the year 2021, Valeria Bednarik talks about the EUR/USD Forecast and explains that "King Dollar is poised to maintain its advantage against most major rivals, EUR included". "The picture can change, but the road up is tough".

Much water has run under the bridge in 2021. Central bankers from around the world have been cooling down speculation on persistently high inflation, calling in “temporarily,” and forecasting it would slowly stabilize to more suitable levels by 2022. But make no mistake: Hot inflation is the elephant in the room. Central banks' measures will be key for EUR/USD moves this next year. The coronavirus pandemic that hit the world in March 2020 still goes on and will also be a critical event in 2022, although there’s a better economic perspective.

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.