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Prices Falter, But Support Intact For Now

EURUSD
BulletMarketsForeign Exchange NewsHomepage
  • EURUSD has declined 0.95%, reversing sharply on Tuesday and hovering close to lows as the European session concludes. Early weakness extended following Fed Chair Powell’s latest remarks, all of which leaned hawkish.
  • Price has traded down to 1.0570, the lowest in a week and the pair has considerably narrowed the gap with nearby support and the bear trigger at 1.0533. The key support level to watch below here is 1.0484, the Jan 6 low.
  • German Industrial production and retail sales data kick off Wednesday’s data docket before we see final readings for Eurozone GDP and the unemployment rate. Both ADP Employment and JOLTS highlight the US docket.
  • Additionally, markets may look out for comments from ECB’s Lagarde, due to participate in a moderated discussion at International Women's Day hosted by the World Trade Organization, in Geneva. For reference, the next ECB decision will be on March 16.
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  • EURUSD has declined 0.95%, reversing sharply on Tuesday and hovering close to lows as the European session concludes. Early weakness extended following Fed Chair Powell’s latest remarks, all of which leaned hawkish.
  • Price has traded down to 1.0570, the lowest in a week and the pair has considerably narrowed the gap with nearby support and the bear trigger at 1.0533. The key support level to watch below here is 1.0484, the Jan 6 low.
  • German Industrial production and retail sales data kick off Wednesday’s data docket before we see final readings for Eurozone GDP and the unemployment rate. Both ADP Employment and JOLTS highlight the US docket.
  • Additionally, markets may look out for comments from ECB’s Lagarde, due to participate in a moderated discussion at International Women's Day hosted by the World Trade Organization, in Geneva. For reference, the next ECB decision will be on March 16.