Euro on track for largest weekly profit since May 2021

Economies.com
2022-01-14 08:37AM UTC

Euro rose in European trade against dollar for fourth straight session, marking two-month highs and on track for the largest weekly profit since May 2021, while investors await ECB President Christine Lagarde remarks on the future of European policies.

 

EUR/USD rose 0.25% to 1.1482, the highest since November 11, with an intraday low at 1.1451, after rising 0.1% yesterday, the third profit in a row.

 

Euro is up 1.1% this week against dollar, on track for the largest weekly profit since May 2021.

 

The dollar index fell 0.2% on Friday, the fourth loss in a row, to a two-month low at 94.62, against a basket of major rivals.

 

US 10-year treasury yields continue to decline even as US inflation hits highest levels since 1982.

 

Fed members are repeatedly bolstering the case for multiple rate hikes in 2022, up to 4 hikes to control inflation but the dollar is nonetheless weakening.

 

In Europe, some analysts are expecting a rate hike in the last quarter of the year as inflation hit fresh record highs in December.

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...