- Analytics
- News and Tools
- Market News
- EUR/USD: Dip buyers must be patient for Powell to have another go at 200 DMA – SocGen
EUR/USD: Dip buyers must be patient for Powell to have another go at 200 DMA – SocGen
EUR/USD moves sideways at around 1.0350. The pair could test the 200-Day Moving Average around 1.0380 if Federal Reserve Chairman Jerome Powell tones down his hawkish comments, economists at Société Générale report.
Tactics in FX have shifted to selling US Dollar rallies since the middle of October
“Euro bulls may have another go to reclaim the 200 DMA if Powell tones down his hawkish comments of the FOMC press conference four weeks ago.”
“Tactics in FX have shifted to selling Dollar rallies since the middle of October and we suspect pockets of buying on a hawkish reprise of the FOMC press conference four weeks ago could be short-lived and insufficient to steer the Dollar back towards the highs.”
“Eurozone flash inflation for November may surprise to the downside for headline after friendlier numbers for Spain and Germany yesterday and will confirm that the peak is probably behind us. However, the sting could be in the tail with core potentially again disappointing. Be prepared for yesterday’s decline in German 10y real rates to reverse if core CPI bucks the forecast of our economists for a fall to 4.8% YoY.”
See – Eurozone HICP Preview: Forecasts from six major banks, inflation may have not peaked yet
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
