Yesterday’s shopping package The market’s focus shifted to Jerome Powell after the US dollar weakened following the ISM service cut last Friday, although he did not touch on monetary policy and rate hikes. Traders took that as a reassuring sign that the US dollar continued to decline on Tuesday, while risk assets continued their bullish … Read more
Germany and the Netherlands have proposed 10 measures the EU could use to cap gas prices and eliminate fuel rationing, including a new price adjustment for liquefied natural gas. The plan, seen by Reuters and shared with other EU countries before the bloc’s energy ministers met on Wednesday, calls for the EU to begin buying … Read more
Sellers are keeping a close eye on the recent 100-hour moving average near 0.6920. We are now seeing the price fall to a new low of 0.6875, which closed at around 0.6869-75 last week. The break below will bring the key support level to a two-day low of around 0.6850 in May. There is little … Read more