The EUR/USD was trading near the 1.06600 level on the 1st of June and reached a high of nearly 1.10130 on the 22nd.
Traders who also felt the European Central Bank would raise their borrowing rates saw this happen. The effect of no hike from the Fed, followed with an increase from the ECB certainly helped the EUR/USD climb. Making the momentum stronger in the middle of June was the rather lackluster FOMC Statement from the U.S Fed saying it ‘might’ consider raising interest rates in July, while the ECB made it clear more interest rate hikes were likely.
The combination of rising prices while spending remains robust in the U.S. certainly puts the Federal Reserve in a position in which it will have to likely consider another interest rate hike in July The notion the European Central Bank will remain hawkish too may create durable support for the EUR/USD, which might allow traders to wager on a short-term direction based on perceptions of technology trends.The past three months of trading have seen large wave-like motions occur in the EUR/USD as financial institutions have struggled to find equilibrium, this as they have had trouble getting clarity from the U.S Federal Reserve.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forecast: Euro trades near key tech level ahead of policy panel at ECB forumEUR/USD holds steady at around 1.0950 early Wednesday after having registered strong gains on Tuesday. Market participants remain on the sidelines whi
Read more »
EUR/USD Forecast: Euro rebounds as Lagarde sticks to hawkish tone💶 Following Monday's choppy action, $EURUSD gathered bullish momentum and advanced toward 1.0950 during the European trading hours on Tuesday. 👇 Read more about the Euro here!
Read more »
EUR/USD Forecast: Shows Signs of Life but Faces Key Levels ARecently, the euro experienced a downward movement toward the 50-Day Exponential Moving Average before displaying signs of a potential rebound.
Read more »
EUR/USD Forex Signal: More Upside as Lagarde Points to MoreThe EUR/USD pair continued rising after the relatively hawkish statement by Christine Lagarde, the European Central Bank (ECB) chair.
Read more »
US Dollar Treads Water Ahead of Titanic ECB Gathering. Will EUR/USD Break the Range?The Euro backed away from the overnight peak against the US Dollar as markets wait with bated breath for the ECB’s much-anticipated gathering of central bank big guns. Where to for EUR/USD?
Read more »
Goldman sees big gains in this food stock even as industry growth becomes scarceKellogg will shine in an increasingly tough environment for the food industry, according to Goldman Sachs.
Read more »