Spreads
Spreads
Spreads
Spreads
Spreads
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
EUR/USD Stays Steady Amid ECB News and Strong US Economy
The EUR/USD pair held its ground near 1.0900 as important events unfolded. The European Central Bank (ECB) decided not to change interest rates, sticking to its goal of reaching a 2% inflation target. However, the accompanying document didn’t provide new insights, keeping the pair in its usual range. In the US, the economy surprised with a strong 3.3% growth in Q4, beating the expected 2%. While the US Dollar initially got stronger, mixed data and positive stock market trends made its position varied across currencies. The upcoming press conference by ECB President Christine Lagarde might give more clues about the central bank’s plans and impact the direction of EUR/USD.
On Thursday, the EUR/USD moved lower, reaching the lower band of the Bollinger Bands. Currently, the price is moving just above the lower band, suggesting a potential upward movement to reach the middle band. Notably, the Relative Strength Index (RSI) maintains its position at 41, signaling a neutral but bearish outlook for this currency pair.
Resistance: 1.0890, 1.0954
Support: 1.0814, 1.0745
XAU/USD Steady Amid Economic Boost and Dovish Signals
Gold prices stayed steady even as the US Dollar got stronger due to the US economy growing by a better-than-expected 3.3%. This positive news made stocks rise, but interest rates stayed low. In Europe, the central bank didn’t change key interest rates, and its president, Christine Lagarde, shared a cautious message, making the US Dollar even stronger. People are now thinking that interest rates might go down soon. We’re waiting for the release of the December inflation numbers to see what might happen next.
On Thursday, XAU/USD moved lower and was able to reach the lower band of the Bollinger Bands. Currently, the price is moving higher near the middle band suggesting a potential upward movement to reach above the middle band. The Relative Strength Index (RSI) stands at 48, signaling a neutral outlook for this pair.
Resistance: $2,035, $2,052
Support: $2,010, $1,993
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
