EUR/USD is on the move, trading some 80 pips higher on the day and at the highest levels since November, a six-month high. The pair is flirting with the resistance level of 1.1050, which served as support back in August. More importantly, the pair is reaching the top of the uptrend channel. Since the very beginning [...]
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The euro-zone published an updated version of its GDP, incorporating the most recent German and Italian data. It was expected to remain unchanged at 0.5% q/q and 1.7% y/y. In addition, the seasonally adjusted trade balance was predicted to tick down from 19.2 billion euros to 18.8 billion for March. Simultaneously, Germany’s ZEW institute released [...]
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The UK was expected to report a bump up in inflation: 2.6% on the headline number in April after 2.3% in March. The Retail Price Index was predicted to rise by 3.4% y/y after 3.1%. Core CPI was projected to advance by 2.2% after 1.8%. GBP/USD traded around 1.2930 ahead of the publication, maintaining the well-known [...]
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EUR/USD trades at 1.1010. The last time it reached these levels was when Macron won the presidency. That move was very short-lived, to say the least. Is this attempt for real? There are good reasons to think so. Here are five drivers for the recent rise, originating from both sides of the Atlantic. The levels [...]
The post EUR/USD tops 1.10 – 5 reasons and levels to watch appeared first on Forex Crunch.
