EUR/USD (week of 06-10/03)

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Weekly Summary

The Euro ends yesterday stable around 1.0639 .

A good end to the trading week, EUR/USD is up to 1.0639, after closing yesterday at zero. Overall, a 0% move or 10,638 pips this week. (Start trading Euro-Dollar at FXTM today).

Euro-Dollar upside coincides with further encouraging market factors as following a previous reading of 3.4, Unemployment Rate in United States released today at 13:30 UTC fell short of the 3.4 figure expected by analysts with an actual reading of 3.6.

Nevertheless, United States Non Farm Payrolls released today at 13:30 UTC is better than expected at 311,000 but down from preceding data of 504,000 according to new data.

At the same time, Germany Consumer Price Index came out at 8.7%, while a consensus of analysts was expecting 8.7%. Euro Zone CFTC EUR speculative net positions released today at 20:30 UTC with a figure of 165,100, while the previous figure was 165,000. Germany Consumer Price Index released today at 07:00 UTC with a figure of 0.8%, while the previous figure was 1%.

Furthermore, the market is looking at Euro Zone Deposit Facility Rate (Mar) is scheduled for Thursday. Euro Zone Interest Rate figure is projected at 3.5. It previously stood at three; data will be released Thursday. Euro Zone ECB Monetary Policy Statement will be released Thursday.

Mar. 10, 2023

Euro-Dollar set for strong finish this afternoon; up 0.49% to 1.0639 with 58 minutes before close

(23:00) GMT

Euro-Dollar trades at 1.0639 after gaining 52 pips (0.49%).

Nevertheless, data for United States Non Farm Payrolls released today at 13:30 UTC is better than expected with 311,000, but worse than previous figure of 504,000.

At the same time, Germany Consumer Price Index released today at 07:00 UTC with a figure of 8.7%, while the previous figure was 8.7%. Euro Zone CFTC EUR speculative net positions released today at 20:30 UTC with a figure of 165,100, while the previous figure was 165,000.

EUR/USD made an initial breakout above its 21 day Simple Moving Average at 1.064, a potential indicator of a newly emerging bullish phase.

Overall, looking at the technical analysis landscape, it seems Euro-Dollar might continue pointing upwards in the short term.

Elsewhere, other currency pairs are also gaining ground as GBP/USD surges 0.92% to trade around 1.2033. GBP/CAD gained 0.89% and is currently trading at 1.6633.

While Euro-Dollar is up today, these currencies are lagging behind: USD/CHF is trading around 0.9213 (down 111 pips).

The currency pair has been trending lower for about a month. After setting a supportive marker at 0.9596 around 5 months ago, Euro-Dollar is now trading 10.32% higher.

follow us: