|Day's range||1.0741 - 1.0782|
|52-week range||0.9540 - 1.1094|
The U.S. dollar slipped lower in early European trade Friday, adding to the previous session’s sharp losses after the U.S. Congress approved the debt ceiling bill, while traders awaited the widely watched monthly payrolls release. The U.S. Senate late Thursday passed legislation lifting the government's $31.4 trillion debt ceiling, a day after the House of Representatives had done the same. The bill now heads to the White House for President Joe Biden to sign it into law, averting what would have been a first-ever default as the Treasury Department had warned it would be unable to pay all its bills on June 5 if Congress failed to act by then.
The dollar has remained mostly steady pre-NFP as the majority consensus shifted back to a hold on 14 June.
The euro continues to face a lot of downside pressure on Thursday as we try to figure out if the buyers are going to jump back in.
The debt sale was the first of its kind for the French sustainable agriculture business.
The euro fell rather hard during the course of the trading session on Wednesday, as we are testing the 200-Day EMA.
The euro initially plunged below a major trend line in the 200-Day EMA, only to turn around and show signs of life.
Optimism over a US-debt deal agreement weighed on gold prices as investors once again gravitate towards riskier assets.
The central bank has examined the use of distributed ledger technology and smart contracts for its potential new digital currency.
The euro initially tried to rally during the trading session on Monday, but as it was Memorial Day in the United States it’s not a huge surprise that the market did very little.
The euro has plunged during the trading week, as we are now testing a major uptrend line.
The euro initially tried to rally during the day on Friday but gave back gains rather quickly.
The euro has fallen a bit during the trading session again on Thursday, as it looks like we are heading toward the 200-Day EMA.
The U.S. dollar gained in Europe Thursday, climbing to a two-month high on rising fears of a U.S. default as Fitch threatens a rating downgrade. At 02:55 ET (06:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.2% to 103.955, just below the 104.05 overnight peak, the highest level since mid-March. The dollar’s safe haven status has meant that it has benefited from the lack of progress in the talks to lift the U.S. government's $31.4 trillion debt ceiling, with the early-June deadline that Treasury Secretary Janet Yellen said is when it’s “highly likely” that her department will run out of money drawing nearer.
The euro has gone back and forth during the trading session on Wednesday, as we continue to determine whether or not we can go lower, or if we are going to turn things around.
Investing.com -- After an April that yielded a yearly high of 1.1095, the EUR/USD has so far had a rough month of May, with the currency pair dropping to a low of 1.0760 on Tuesday and remaining under pressure on Wednesday, a weakness that analysts at Goldman Sachs attempted to explain in a note published last night.
While talks between both political parties continue over the lifting of the U.S. government's $31.4 trillion debt ceiling, any progress seems to be hard won and there are few signs of a deal being reached anytime soon. There’s now just over a week before the early-June deadline that U.S. Treasury Secretary Janet Yellen said is when it’s “highly likely” that her department will run out of sufficient cash to function as normal.
The euro fell a bit during the trading session on Tuesday, but then turned around to bounce a bit and show signs of life.
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The U.S. dollar gained in early European trade Tuesday, with risk sentiment on the slide as the debt ceiling impasse continued and following hawkish comments from Fed officials. U.S. President Joe Biden and House Speaker Kevin McCarthy ended discussions late Monday with no agreement on how to raise the U.S. government's $31.4 trillion debt ceiling. U.S. Treasury Secretary Janet Yellen added to the urgency of the situation by stating that it’s now “highly likely” that her department will run out of sufficient cash in early June.
The euro has rallied a bit during the trading session on Monday, as the market continues to see a lot of noisy behavior going forward.
The U.S. dollar edged lower in early European trade Monday amid uncertainty surrounding the U.S. debt ceiling negotiations and after dovish comments from Fed chair Jerome Powell. The dollar received a blow late last week as negotiations over the potential raising of the U.S. debt ceiling, and thus avoiding a very damaging default, suddenly broke down with Republicans walking out of the meeting. U.S. President Joe Biden and House Republican Speaker Kevin McCarthy are set to meet later Monday, but compromises will have to be made and thus more brinkmanship is to be expected ahead of early June, when the Treasury is seen running out of money.
The euro initially tried to rally during the course of the trading week but then gave back gains near the 1.0950 level to start selling off again.
The euro bounced during the trading session on Friday as we have seen a bit of a fight in this market.
The U.S. dollar edged lower in early European trade Friday, but remained near a two-month high as strong labor data and optimism that a U.S. debt default can be avoided pointed to the Federal Reserve retaining a tight monetary policy for longer. The dollar index is on course to record gains of just under 1% this week as news of constructive talks to end the current debt ceiling impasse in Washington raised optimism that a deal can be reached, thus avoiding a damaging debt default. This has put the spotlight firmly back on the Federal Reserve and what it will decide over future interest rate moves.
The euro continues to drift lower on Thursday, as the US dollar is getting a bit of a reprieve. Whether or not this is a simple pullback or a change of direction remains to be seen.