HFM information and reviews
Octa information and reviews
FXCC information and reviews
FxPro information and reviews
FBS information and reviews
Vantage information and reviews

EUR/USD continues to face downward pressure

26 May 2023

During the mid-Asian session, the EUR/USD pair continues to face downward pressure, with Euro bears taking a pause after reaching the lowest levels since late March. This has led to a two-day downtrend in cautious markets. It is important to note that concerns have recently been mounting over the possibility of the US defaulting on its debt payments in early June, which has negatively affected market sentiment and weighed on the EUR/USD pair. Despite these concerns, policymakers remain optimistic about reaching a deal to extend the debt ceiling. As a result, the US Dollar Index is currently trading around a nine-week high, supported by stronger Treasury bond yields. Looking ahead, market focus will be on the second readings of US and German GDP, along with the US weekly Jobless Claims, the Chicago Fed National Activity Index, and Pending Home Sales, which are all scheduled on the economic calendar. However, the ongoing US debt ceiling negotiations will attract significant attention.

SELL LIMIT 1.0770/TP 1.0710/SL 1.0800


The GBP/USD pair is currently trading at its lowest level in 1.5 months, having recently hit a multi-day low. The lack of movement in the pair can be attributed to sluggish market conditions. However, concerns about a potential US default and the UK’s inflation figures, which failed to support bullish sentiment for long, are weighing on the price of the British Pound. According to the Consumer Price Index, the UK’s inflation rate rose by 8.7% in April, compared to the previous month’s 10.1% and the forecasted 8.2%. UK Finance Minister Jeremy Hunt stated the need to lower inflation in order to safely reduce taxes. Looking ahead, the progress in the US debt ceiling negotiations will be crucial for GBP/USD traders to determine clear directions. Therefore, a lack of a deal by the end of today could potentially prevent the pair from facing further downward pressure.

SELL STOP 1.2320/TP 1.2270/SL 1.2345


During the Asian session, there has been a shift in the placement of gold prices. The precious metal is experiencing downward pressure as the US Dollar Index is on track to reach a 10-week high. The US Dollar Index has exhibited significant strength as concerns over the unresolved US debt ceiling persist despite lengthy negotiations between the White House and Republican leaders. Despite dovish signals regarding interest rate guidance in the Federal Open Market Committee minutes, gold prices have been unable to benefit. Federal Reserve policymakers view the likelihood of a rate hike in June as less certain due to the possibility of a banking crisis.

SELL 1955.00/TP 1942.00/SL 1962.00


Share: Tweet this or Share on Facebook


Fed stops dollar's CPI-related bleed, BoJ next
Fed stops dollar's CPI-related bleed, BoJ next

Dollar tumbles after weaker-than-expected CPI data. Recovers somewhat after Fed signals one rate cut. BoJ decision looms as investors bet on July hike. US CPI data propels Wall Street to fresh records.

13 Jun 2024

Dollar rallies on NFP, euro slips after EU vote
Dollar rallies on NFP, euro slips after EU vote

US nonfarm payrolls surge past expectations - Dollar skyrockets as Fed rate cuts are scaled back - Euro slips as Macron calls snap election in France - S&P 500 pulls back after hitting new record high

10 Jun 2024

Dollar rallies as market angst spreads
Dollar rallies as market angst spreads

Higher Treasury yields contribute to stock indices' retreat. Euro under pressure as the pound benefits from the election. Gold fails to benefit from risk-off while oil drops ahead of OPEC meeting.

30 May 2024

Dollar benefits from hawkish Fed minutes
Dollar benefits from hawkish Fed minutes

Dollar rallies as both gold and bitcoin fall. Early UK elections called after mixed UK CPI report. EZ PMIs unlikely to stop the ECB from cutting rates in June

23 May 2024

Dollar plummets as US data supports Fed rate cuts
Dollar plummets as US data supports Fed rate cuts

US inflation resumes downtrend, retail sales stagnate. Dollar falls as investors add to Fed rate cut bets. Yen gains even as Japanese economy contracts. Wall Street at fresh records, gold rallies on US data.

16 May 2024

US dollar recovers, stocks rally stalls as market tries to find its footing
US dollar recovers, stocks rally stalls as market tries to find its footing

Fed expectations drive the market. Three Fed speakers on the wires today. Dollar recovers but all eyes are on the US stocks and Treasury yields. Yen on the back foot again, gold steady amid the Israeli ground operation.

8 May 2024

Editors' Picks

The Top Forex Expert Advisors 2024: Performance, Strategy, and Reliability Review

An annual roundup reviewing the most successful Forex Expert Advisors (EAs) based on their performance, strategies employed, reliability, and user feedback. This piece would provide insights into which EAs have been market leaders and why.

The Evolution of Forex Expert Advisors: Navigating the Path of Technological Revolution

The concept of automated trading has been around for decades, but the accessibility and sophistication of Forex EAs have seen significant advancements in the past few years. Initially, automated trading systems were rudimentary, focusing on simple indicators like moving averages.

The Impact of EAs on Forex Trading: A Double-Edged Sword

By enabling continuous, algorithm-based trading, EAs contribute to the efficiency of the Forex market. They can instantly react to market movements and news events, providing liquidity and stabilizing currency prices through their high-volume trading activities.

MultiBank Group information and reviews
MultiBank Group
XM information and reviews
FP Markets information and reviews
FP Markets
FXTM information and reviews
AMarkets information and reviews
BlackBull information and reviews

© 2006-2024 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.