HFM information and reviews
OctaFX information and reviews
XM information and reviews
FXCC information and reviews
FxPro information and reviews
FXCM 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


Platinum's Ascending Demand and Depleting Reserves: A Golden Opportunity for Traders
Platinum's Ascending Demand and Depleting Reserves: A Golden Opportunity for Traders

When delving into the realm of commodities, the inherent dynamics of supply and demand remain pivotal in dictating price trajectories...

29 Sep 2023

Extended Analysis: The Tumult in Soft Commodities and the Inflationary Maze
Extended Analysis: The Tumult in Soft Commodities and the Inflationary Maze

Soft commodities have inexorably stepped into the spotlight as their soaring prices amplify the labyrinth of global inflation. A spectrum of meteorological adversities and burgeoning...

28 Sep 2023

Continual Dollar Ascendancy: The Underlying Dynamics
Continual Dollar Ascendancy: The Underlying Dynamics

The trajectory of the US dollar is demonstrating an upward momentum, with the dollar index inching closer to the resistance level at 106.00...

28 Sep 2023

Dollar on the Watch: Core PCE Inflation Holds the Key
Dollar on the Watch: Core PCE Inflation Holds the Key

After the Federal Reserve's hawkish stance, all eyes are now on the core Personal Consumption Expenditures (PCE) index, the Fed's preferred gauge of inflation, due to be released on Friday at 12:30 GMT...

26 Sep 2023

AI’s Evolution: Bridging the Real and the Imagined
AI’s Evolution: Bridging the Real and the Imagined

Once merely the musings of speculative fiction, the conception of Artificial Intelligence (AI) autonomously executing tasks and rendering decisions has transformed into tangible reality...

25 Sep 2023

The Fed Rate Decision Bolsters the U.S. Dollar
The Fed Rate Decision Bolsters the U.S. Dollar

The dollar index is currently trading at 105.20. Following the September meeting, the Federal Reserve opted to maintain the rate at 5.5%, aligning with market expectations. In its monetary policy statement...

21 Sep 2023

Editors' Picks

MultiBank Group information and reviews
MultiBank Group
Vantage information and reviews
FP Markets information and reviews
FP Markets
Just2Trade information and reviews
AMarkets information and reviews
IronFX information and reviews

© 2006-2023 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.