The Euro (EUR) gains ground against the US Dollar (USD), motivating the EUR/USD to reclaim the area around 1.0590 and advance for the third session in
The USD Index meets initial hurdle near 106.30.The ISM Manufacturing PMI takes centre stage across the pond.to reclaim the area around 1.0590 and advance for the third session in a row following the opening bell on the old continent on Monday., and is followed by the continuation of the recovery in the risk complex seen in the latter part of last week. remains unaltered, with investors still expecting the Federal Reserve to raise interest rates by 25 bps before the end of the year.
However, it is critical to remember that as long as the EUR/USD remains below the 200-day SMA, the possibility of more negative pressure exists.The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, itThe European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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