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Euro has risen to 1.1000

Elena by Elena
22/12/2023
in EUR, News
Euro/dollar heading towards parity as ECB continues to tighten policy
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Dollar Index Dips Below 102: Weakening US GDP results have pushed the Dollar Index below 102, threatening to test support near 101.50. A bounce is crucial at this level to prevent further vulnerability.

Euro Strength at 1.10: The Euro has advanced to 1.10 against the dollar, and the sustainability of this level needs close observation for potential near-term developments.

Bearish Trends in JPY Pairs: Both EURJPY and USDJPY are maintaining bearish trends.

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Aussie Faces Rejection: The Australian Dollar has faced rejection near the 0.68 resistance level and could retreat towards 0.6750-0.67.

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Pound Resilience Above 1.26: The British Pound has held above the support at 1.26 and may trade within the range of 1.26-1.27 for a while.

USDCNY Slow Rise: USDCNY is gradually rising, with a breakthrough past 7.15 required for further bullish momentum.

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USDRUB Exceeds Expectations: USDRUB has risen beyond expectations, aiming for further ascent towards 94.

Mixed Movement in USDINR and EURINR: USDINR briefly touched 83.28 before retracting, and EURINR has defied expectations, rising sharply toward resistance at 91.50.

Christmas Holiday Impact: Markets may experience low volatility during the Christmas holiday.

Treasury Yields:

US Treasury Yields Bounce Back: Despite a rebound, resistances ahead could limit upside potential, maintaining a bearish outlook.

German Yields Stable and Lower: German yields remain stable and lower, signaling a bearish outlook as key supports are breached.

Indian Government Bonds (GoI): Both 10Yr and 5Yr GoI may consolidate in a narrow range before potential further decline.

Equity Markets:

Dow Jones Holds Support at 37,000: Dow Jones has rallied back, finding support at 37,000, likely to remain range-bound until a potential upside breakout.

DAX Bullish Above 16,500: DAX maintains a bullish stance as long as it holds above 16,500.

Nifty Bounces Back: Nifty’s sharp rebound keeps the possibility of a rise intact, targeting the previously mentioned level.

Shanghai Limited Upside: Shanghai has rebounded, but upside potential appears capped around 2950-2960.

Nikkei Faces Downside Pressure: Nikkei could experience downside pressure as long as it remains below the resistance at 33,800-34,000.

Commodity Markets:

Crude Prices Below Key Resistances: Crude prices hover below crucial resistances, requiring a decisive breakout for a sustained rally.

Gold Surpasses Range: Gold has surpassed its upper range and has room for further upside.

Silver and Copper Bullish: Both Silver and Copper maintain a bullish outlook for the near term.

Natural Gas Range-Bound: Natural Gas is stuck in a narrow trading range.

Note: The US PCE data release is deemed significant, and the markets are anticipated to experience low volatility during the Christmas holiday.

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Elena

Elena

Elena, a seasoned foreign exchange trader with a proven track record in the dynamic world of currency markets, brings a wealth of expertise and professionalism to the financial realm. With an extensive background spanning over a decade, she has honed her skills in analyzing global economic trends and implementing strategic trading solutions. Known for her meticulous attention to detail and analytical prowess, Elena has navigated through volatile market conditions with finesse, consistently delivering impressive results for her clients. Her comprehensive understanding of macroeconomic indicators, coupled with a keen awareness of geopolitical events, allows her to make informed decisions that optimize trading portfolios. Elena's commitment to staying ahead of the curve is evident in her continuous pursuit of knowledge and mastery of cutting-edge trading technologies. Her disciplined approach to risk management ensures prudent investment strategies, instilling confidence in both colleagues and clients alike.

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  • GBP/USD Climbs on US Credit Downgrade, Eyes UK CPI for Next Move 20/05/2025
  • AUD Drops After PBoC Rate Cut and Australian Political Turmoil 20/05/2025
  • Indian Rupee Slips as Inflation Falls, Rate Cut Bets Rise 20/05/2025

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