5/19/2021 9:30:05 AM GMT | By FXStreet Insights Team
EUR/USD has retreated from near 1.2250, the highest since February. Nonetheless, the Federal Reserve s meeting minutes can send the pair to new highs. Furthermore, looser restrictions in the old continent can send the euro above double-top, Yohay Elam, an Analyst at FXStreet, briefs.
The charts are pointing to fresh gains
“France is allowing outdoor dining and additional activities as its accelerated vaccination drive is bearing fruit and bringing COVID-19 cases down. Other countries in the eurozone are experiencing the same trend and enacting similar policies.”
“Minutes from the Federal Open Markets Committee (FOMC) are due out later in the day. So far, only Dallas Fed President Robert Kaplan has spoken in favor of hiking interest rates in 2022 rather than later on. Only if the minutes reveal that Kaplan is part of a growing chorus – highly unlikely – the dollar has room to
EUR/USD to extend its advance towards the 1 2240 mark
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5/17/2021 6:39:11 AM GMT | By FXStreet Insights Team
EUR/USD is trading below 1.2150 amid the rush to the dollar and despite Europe s accelerating vaccination campaign. Perhaps not all euro bulls have begun the week with fresh energies, however, the shared currency is set to resume its gains for three reasons, as FXStreet’s Analyst Yohay Elam lays out.
Weaker US inflation fears
“China reported an annual increase of 17.7% in April s Retail Sales data, substantially below an increase of roughly 25% projected. There is no commodity ‘supercycle’ without China – a rethink about inflation could embolden doves at the Fed and soften the hawks. Federal Reserve Vice-Chair Richard Clarida and several of his colleagues are set to speak out later in the day and they will likely repeat their message that inflation is transitory. That could weigh on the dollar.”
5/12/2021 3:32:25 PM GMT
US inflation soared in April and so did market volatility. Treasury rates rose, the dollar followed and equities dropped for a second day. The Fed insists prices increases are temporary but behind the pandemic base effect commodity prices are sharply higher and wages are rising. Inflation has not been a market consideration for a decade, is that changing? Join senior FXStreet analysts Valeria Bednarik, Yohay Elam and Joseph Trevisani for an in-depth look at the global price picture.
Yohay Elam: How is the US economy doing? Nonfarm Payrolls were weak, inflation was strong, and both figures are for the same month.
May 14, 2021 09:16 GMTFXStreet News
GBP/USD has been attempting recovery as markets swing back to positive ground. However, virus variant concerns and the American shopper may push cable below 1.40, Yohay Elam, an Analyst at FXStreet, reports.
1.40 is a critical separator of ranges
“Prime Minister Boris Johnson has come short of suggesting a reversal in policy but he has expressed concerns about the rapid spread of the Indian variant in the UK. Various health officials have called on the government to reconsider its roadmap and take a more cautious approach. If these voices grow louder – and if COVID-19 cases rise – sterling could suffer. “
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