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EURUSD buyers fight to defend the 1.16 handle

30 September Forex categories The EURUSD pair slid by 0.74 to 1.1598 on Wednesday, September 29. The DXY index rose to a new 11month high 94.44, on the back of heightened expectations of Fed tapering by yearend and a rate hike in 2022. Risk aversion negatively impacted all major currencies. The key pair dropped to the 1.1600 support level. Notably, 1.16 acts as key support on the daily and monthly TFs. There is a lot of talk about it, since if this level fails to hold, the road down to 1.12 will be open for sellers. Sterling shed 0.8 against the dollar to 1.3425 amid concerns over the economic impact of gas and fuel shortages. Todays macro schedule GMT3 1000 Switzerland KOF leading economic indicators September 1055 Germany unemployment change and rate September 1200 Eurozone unemployment change August 1530 US GDP Q2 and initial jobless claims 1645 US Chicago PMI September 1700 US Fed member John Williams speech 1800 Fed member Raphael Bostic speech Current outlook By the time of writing, major currencies were trading in positive territory. The aussie 0.38 and kiwi 0.19 topped the leaderboard. An upward correction in the FX market was attributable to two news items first, China39;s Evergrande Group has resumed construction of about 20 residential projects in Guangdong, Bloomberg reported; second, Bruce Richards, cofounder and CEO of Marathon Asset Management, said Thursday that the investment firm purchased Evergrande debt for the first time this week and will continue to…

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