Eur/usd Creeps Down From Five-week Highs, Under The 1.0300 Figure

Eur/usd Creeps Down From Five-week Highs, Under The 1.0300 Figure

  • Trade Ideas
  • Weekly Signals
  • 2022, 13 August


Last week, the Euro currency remained in the bullish territory owing to sharp fall seen in the American currency due to betterthan-expected US July inflation report with CPI suggesting the price increases may be leveling off. Crude prices have fallen too as traders anticipated more supply of crude entering the market coupled with weaker demand. This gave support to the Euro currency considering that the zone imports huge amount of crude. Towards the end, there was some profit taking seen in the Euro currency after the San Francisco Fed Mary Daly said that a 50-bps rate hike in September "makes sense" given the recent economic data including on inflation but added that she is open to a bigger rate hike if data warrants.

What to watch

The EU calendar will feature the German Zew for August, EU employment and GDP data, alongside the HICP for July and the EU current account. Across the pond, the US economic docket will feature the NY Fed Manufacturing, Housing data, Industrial Production, and Retail Sales.


Sell below 1.1500 for 0.9900 and 0.9400


Buy above 1.1500 for 1.1900 and 1.2350


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