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Markets Horrible European PMI business confidence (September) triggered a textbook bull steepening. German rates dropped between -2.8 (30-yr) and -8.1 (2-yr) bps. The spread between the 10-yr and 2-yr hit a milestone by turning positive for the first time since November 2022. Swaps did so already last Friday. Front-end outperformance rooted from increased ECB easing […]

The post On Lookout Whether Yesterday’s Sharp European Yield Drop May Ease appeared first on Action Forex.

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14/05/2024

EUR/USD Steady as German Confidence Index Rises

The euro is drifting on Tuesday. EUR/USD is up 0.07% on Tuesday, trading at 1.0798 in the European session at the time of writing. German inflation steady, confidence higher Germany’s inflation rate remained unchanged in April at 2.2% y/y, matching the market consensus. Services inflation slowed but this was offset by higher food prices. Monthly, […]
21/06/2024

EUR/USD: Falls Further on Downbeat PMI Data

EURUSD fell to one week low on Friday and extended strong fall of Thursday, after the pair came under fresh pressure from downbeat PMI data. The reports released on Friday showed that activity in services industry in the Eurozone and bloc’s two largest economies – Germany and France slowed in Jume, while downturn in manufacturing […]
23/05/2024

EURGBP Tests Critical Pivot Area After Slump

EURGBP at a make-or-break point near 0.8500 after plunge Oversold conditions detected, but the bears not ready to give up the battle EURGBP was knocked down near the 200-day simple moving average (SMA) at the start of the month, subsequently losing around 1.0% to reach the critical pivot zone of 0.8490-0.8500 which rescued the pair fourth times […]