The dollar edged higher in early European trade Tuesday, boosted by rising U.S. Treasury yields as traders position for the Federal Reserve tapering its bond-buying program this year after last week’s policy-setting meeting. EUR/USD fell 0.1% to 1.1686, with traders having to balance the uncertainty surrounding Germany’s political climate following Sunday’s general election and an unexpected rise in German consumer confidence. This follows the Federal Reserve indicating at its policy-setting meeting last week that it could begin asset tapering as soon as November, concluding around mid-2022, opening the way for interest rate hikes after that.
EUR/USD Current price: 1.1699 Germany new government may require at least a three-party coalition. US Durable Goods Orders beat expectations by rising 1.8% MoM in August. EUR/USD consolidates near the year low at 2021, it’s bearish in the near term. The EUR/USD pair fell to 1.1688 during Asian trading hours, as the greenback retained its post-Fed positive momentum. The US Central Bank had announced that it may soon start trimming pandemic-related facilities. Demand for the greenback eased ahead
The European Commission approved on Monday Romania's 29.2 billion euro plan to recover from the pandemic and transform the economy to become greener and more digitalised in coming years. Under the scheme, Romania will get from the EU 14.2 billion euros in grants and 14.9 billion euros in very cheap loans until 2026. The Commission said that 41% of the total amount would be spent on measures to reduce CO2 emissions and 21% on making the country ready for the digital age.
Nexi is interested in working on a digital version of the euro, but there are no formal talks with the European Central Bank (ECB), the Italian payment group's corporate and external affairs director Saverio Tridico said on Friday. Nexi CEO Paolo Bertoluzzo was quoted by CNBC as saying on Wednesday that the company was "contributing to the design" of the ECB's proposed digital currency.
China has reiterated its crackdown on cryptocurrencies in the world's second largest economy and the latest statement from the People's Bank of China has apparently put pressure on the broader digital-asset complex.
EUR/USD Current price: 1.1743 Encouraging news coming from China overshadowed tepid macroeconomic data. Markit September PMIs missed expectations in Europe and the US. EUR/USD needs to break above the weekly high to gain bullish potential. The EUR/USD pair advanced on Thursday on the back of a better market mood but held below its weekly high of 1.1755. Global markets welcomed relief news related to the Chinese Evergrande property company, as the risk of a default receded due to a possible split
Euro gained against the Great British Pound and the US Dollar today as German ZEW Economic Sentiment and European ZEW Economic Sentiment data were very positive, despite the prolongation of restrictions in Europe until mid-February.
At 3:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was down 0.2% at 92.597. EUR/USD climbed 0.1% to 1.1848, USD/JPY fell 0.1% to 104.53, while the risk sensitive AUD/USD rose 0.3% to 0.7287.
Trump once again shook the market with his Friday Tweet regarding the Stimulus bill where he wanted the deal to be completed ASAP, as a result, Gold and other commodities surged while the US Dollar Index plummeted.