The EUR/USD remains barely unchanged on thin trading after the US Bureau of Economic Analysis (BEA) revealed the Federal Reserve’s preferred gauge for inflation, the Core Personal Consumption Expenditure (PCE) price index for February was aligned with estimates. That said, the EUR/USD trades at 1.0788, posting minuscule gains of 0.02%
The BEA revealed that Core PCE came at 0.3% MoM and at 2.8% YoY, with both figures aligned with the market consensus. Headline PCE figures rose by 0.3% MoM lower than expected and January’s data. In the 12 months to February, PCE came at 2.5%, as foreseen, but a tenth higher than the prior month’s data.
Other data showed that Wholesale Inventories Advanced for February came at 0.5% MoM up from -0.2% in the previous month.
Thin liquidity conditions witnessed the EUR/USD push below 1.0780 before breaking above 1.0790. Buyers are eyeing a clear break above 1.0800, though they will face some intraday resistance, as depicted by the hourly chart, with the 50-Simple Moving Average (SMA) standing at 1.0800.
In addition, traders will watch San Francisco’s Fed President Mary Daly's speech at 15:20 GMT, followed by Fed Chair Jerome Powell's speech at 15:30 GMT.
According to BBH analysts, Fed Chair Jerome Powell's speech will be important. They noted, “Other Fed speakers have tilted hawkish after last week’s FOMC meeting, and markets will be watching to see if Powell follows suit or maintains the dovish tone from his press conference. With Powell, it’s always a coin toss but as we’ve said countless times before, the data will ultimately decide the timing of the first cut. As things stand, odds of a cut June 12 have fallen to 66% after rising to 85% post-FOMC.”
During the European session, the pair printed a low of 1.0767. However, the EUR/USD climbed above 1.0790 following the data release, with traders eyeing 1.0800. A decisive break will expose the March 28 high of 1.0827, followed by the 50-day moving average (DMA) at 1.0834, ahead of 1.0835, the 200-DMA. Once those levels are cleared, up next would be the 100-DMA at 1.0876. On the other hand, further losses are eyed below 1.0750, which would expose the February 14 low of 1.0694.
© 2000-2024. Sva prava zaštićena.
Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.
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.
Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.
Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.
Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.