Within 1 minute, Janet Yellen, US Treasury Secretary, said:
“We have the safest and most liquid financial system of any in the world... .
...If raising the debt ceiling fails...it would be absolutely catastrophic.”
"The dollar is the world's reserve currency" [amid increasing news indicating that the petrodollar will be replaced by other national currencies]
"US Treasuries are the best asset when there are concerns about some financial development around the world" [on the back of reports that China has cut its holdings of US Treasuries to the lowest level since May 2009].
Later today at 2:00 PM ET, the US prime rate is expected to rise to 5.00%.
Investors' bullish dollar sentiment eased on the last day of the previous week. The biggest fears are about continued bankruptcies of banks, as well as about queues in front of bank branches.
Combined with poor unemployment data on Friday, as well as high interest rates, making debt servicing increasingly difficult.
The dollar lost about 120 pips against the Euro on Friday and today at the Asian open.
There will be an emergency closed-door Fed meeting today. This is a clear signal that concerns about the banking sector are too high.
According to the likely scenarios and throwing huge funds to save the remaining banks and weakening the dollar.
It is more likely that at the end of the working week we will see Euro-Dollar levels close to 1.10.
EUR/USD
Support / Resistance: 1.0280 - 1.0380
A series of important data is expected today ahead of Thanksgiving Day in the United States.
We expect a dynamic day, with the most important news being the FOMC Minutes at 3:00 PM ET, and at 9:30 ET we expect Durable Goods Orders(Oct), as well as more important fundamentals for the United States economy. In the morning, Europe is expecting important data for Germany and the Eurozone, such as S&P Global/BME Composite PMI, S&P Global/BME Manufacturing PMI, S&P Global/BME Services PMI, and expectations for the Eurozone are without a large margin compared to the previous month. It is likely that the markets will not react and will wait for the more important data later in the day. Our strategy for the day is to use the current trend - slightly upward and trade until the important data from the United States, where more serious movements in both directions are possible.
EUR/USD
Support / Resistance: 1.0320 - 1.0430
Today is an important day for the currency markets. There are two key events today, at 8:30 AM ET expect Retail Sales for the month of October in the United States, and later at 11:00 AM expect ECB's President Lagarde speech.
Soon, the growth of the Euro may temporarily stop and we may go through a process of trade consolidation around 1.03.
For today, use the data from the US, with expectations for positive news. The probability of EUR/USD movement above 1.0430 is high.
EUR/USD
Support / Resistance: 1.0310 - 1.0440
A series of economic data for the Eurozone is expected today. Among the most important Eurozone Gross Domestic Product data at 6:00 AM ET.
At the same time, the ZEW Survey - Economic Sentiment (Nov) for the Eurozone and Germany is expected, as well as the ZEW Survey - Current Situation (Nov) for Germany.
At 9:30 AM ET, US Producer Price Index ex Food & Energy data is expected, with inflation expected to remain at 7.2%.
The expectations for today are that the trend started on Thursday will continue. We expect EUR/USD to test levels above 1.0420.
EUR/USD
Support - Resistance: 1.0275 - 1.0365
Over the past two days, the Euro has managed to recover about 400 pips against the dollar. Although there is no important economic information today, it is an important day where it will become clear whether the uptrend for the euro will continue. An attack on the level of 1.0364 will mean that the uptrend will continue during the week. Otherwise, the trade will return to 1.0190 - 1.0250 levels.
EUR/USD
Support / Resistance: 0.9930 - 1.0035
Today we expect a series of data for the European area, the most important of which is Retail Sales, where better data is expected for September.
EUR/USD has reached parity, but is unlikely to hold at these levels. It is more likely today that we will see EUR/USD move down to levels up to and below 0.9950.
The strategy for today is to open short positions.
EUR/USD
Support / Resistance: 0.9855 - 0.9970
On the forex market today, during the morning European session, we expect a slight strengthening of the Euro against the dollar.
Later in the European session, the dollar will begin to gain the upper hand and by the end of the day, a return to the 0.9880 levels and below is possible.
There is not a lot of important economic data today that will significantly affect trading.
Real alerts in real time - here.
EUR/USD
Support / Resistance: 0.9755 - 0.9845
After yesterday's data from the US and especially the increase in interest rates, today we expect a continuation of the trend for a strong dollar.
Markets await the key event tomorrow Nonfarm Payrolls(Oct). But today is also an extremely important day full of economic data. Among the highlights are the ISM Services PMI(Oct) at 10:00 AM ET, Factory Orders (MoM)(Sep), ECB's President Lagarde speech at 6:05 AM ET, and expectations for a rate hike by the Bank of England at 3.0%.
The strategy today is to hold short positions with a profit range of 45-50 pips.
EUR/USD
Support / Resistance: 0.9810 - 0.9930
Today will be a very important day for the currency markets and the dollar in particular. During the day, a number of new economic data will become clear, both for the US and for Europe. By far the most important news is the expected hike in US interest rates from 3.25% to an estimated 4.00% at 3:00 PM ET.
At 9:15 AM ET, expect the ADP Employment Change(Oct), just two days before the key Nonfarm Payrolls.
We expect the dollar to strengthen in the after hours. The strategy for today is to open short positions.
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