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The USD is in demand

19 July 2021

EURUSD fell a little bit; the "greenback" is in demand again. The major currency pair is changing its direction again. The current quote for the instrument is 1.1800. The American currency has a lot of market sympathies after the statistics confirmed that the national economy was recovering. For example, the Retail Sales report published last week showed that the population’s demand for goods remains quite high despite a slight advantage in favour of services. In June, the indicator added 0.6% m/m after plunging by 1.7% m/m in May and against the expected decline by 0.4% m/m. 

At the same time, the Core Retail Sales added 1.3% m/m against the expected growth by 0.4% m/m. The components of the report show that sales increased at electronics & appliance stores, gasoline stations, clothing & clothing accessories stores, general merchandise stores, miscellaneous store retailers, and restaurants and bars. On the other hand, motor vehicles' sales dropped 2.0%, as a global semiconductor supply squeeze hit production.

The preliminary report on the Consumer Sentiment from the University of Michigan turned out to be weak. The indicator dropped to 80.8 points in July after being 85.5 points the month before, although it was expected to improve up to 86.5 points. The actual reading is the lowest over the last five months and raises concerns about the inflation boost. 

The Current Conditions dropped to 84.5 points, the lowest reading over 11 months. The Consumer Expectations went from 83.5 points in June to 78.4 points this month.  The US Federal Reserve said that there were no reasons to be afraid of high inflation because it was temporary. However, the market response suggests otherwise.




The EUR/USD Price Prediction 2022. The Bulls or the Bears, Who Will Prevail?
The EUR/USD Price Prediction 2022. The Bulls or the Bears, Who Will Prevail?

Euro/US Dollar (EUR/USD), for which we will provide the price forecast for the year 2022, is the most actively traded currency pair on the foreign exchange market, also known as Forex or FX...

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The Euro's oversold is a sign for more volatility to come
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The Euro fell against the dollar to 1.1200, a new 16-month low, having lost more than 4% in the last four weeks. The downward trend in the single currency accelerated...

26 Nov 2021

EURUSD is knocked out again
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After testing another “bottom”, the major currency pair is consolidating. EURUSD continued falling and tested another low yesterday; right now, it is consolidating....

25 Nov 2021

EUR/USD seems vulnerable near multi-month low
EUR/USD seems vulnerable near multi-month low

The EUR/USD pair remained on the defensive through the Asian session and was last seen trading around the 1.1270-65 region, just a few pips above a 16-month low touched on Friday...

22 Nov 2021

EUR/USD snaps two-day rebound near 1.1350 as USD tracks firmer yields
EUR/USD snaps two-day rebound near 1.1350 as USD tracks firmer yields

EUR/USD stays pressured around an intraday low of 1.1352, down for the first time in three days ahead of Friday’s European session. In doing so, the major currency pair reacts...

19 Nov 2021

The greenback dominates the market
The greenback dominates the market

EURUSD stopped falling on Thursday, but investors are still interested in the “greenback”. The major currency pair slowed down its decline and is trying to reach stability...

18 Nov 2021

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