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EUR/USD Forecast: Consolidating gains and with room to advance further


4/14/2021 12:44:11 PM GMT
EUR/USD Current Price: 1.1965
EU February Industrial Production contracted 1.6% YoY, missing expectations.
US Federal Reserve chief Powell is due to participate in an online event.
EUR/USD is pressuring monthly highs and ready to test the 1.2000 threshold.
The EUR/USD pair reached 1.1973, its highest since mid-March, holding nearby heading into the US opening. The dollar remains weak amid easing US Treasury yields and the poor performance of equities. Worth noting that global stocks have been lacking directional strength this week, waiting for a fresh catalyst.
The shared currency rallied despite European data failed to impress.  February Industrial Production contracted 1% MoM and fell by 1.6% YoY.  The US has just published the March Import Price Index, which rose 1.2% MoM and the Export Price Index for the same month that was up by 2.1%, both beating the market’s expectations. Later today, US Federal Reserve chief Jerome Pow ....

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EUR/USD Forecast: Trades At Fresh April Highs May Correct Lower In The Near-Term


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Risk appetite dominated the financial board and put further pressure on the greenback.
US Fed’s chair Jerome Powell reiterated his well-known stance of holding back rate hikes.
EUR/USD trades at fresh April highs may correct lower in the near-term.
The EUR/USD pair neared 1.2000 this Wednesday, as Wall Street rallied to record highs, with risk-appetite weighing on the greenback. Comments from US Federal Reserve chief Jerome Powell who repeated his well-known conservative stance. He repeated that it is highly unlikely that the Fed would raise rates before the end of 2022,  adding that the US economy is at an inflexion point and heading “a period of faster growth, more job creation.” ....

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EUR/USD Forecast: Has Room To Extend Its Advance Beyond The 1.2000 Mark


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The ECB could start reducing its bond purchases during the summer.
US unemployment claims unexpectedly surged in the week ended April 2.
EUR/USD has room to extend its advance beyond the 1.2000 mark.
The American dollar was once again the weakest, resulting in EUR/USD reaching a fresh two-week high at 1.1927. The greenback accelerated its decline as US Federal Reserve chief Jerome Powell spoke in an IMF seminar. Powell didn’t add much new to what the market already knew, but his dovish words put pressure on Treasury yields, which remain at the lower end of their weekly range.
On the other hand, Robert Holzmann, Austrian Central Bank Governor, said that the European Central Bank might be able to start reducing its bond purchases during the summer, providing support to the shared currency. ....

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Spring Ahead or Fall Back? No Fear, Nasdaq Uptrend, Trading AbbVie and AMD


Spring Ahead or Fall Back? No Fear, Nasdaq Uptrend, Trading AbbVie and AMD
COVID numbers stopped improving a while ago, even with ever-improving rates of vaccination. Just what is going on here?
Mar 16, 2021 | 07:40 AM EDT
I saw my first robin of spring late last week. A few minutes later, I met about a dozen of his or her pals. Temperatures were indeed spring-like out in my neck of the woods last week, and will be again later this week.
Monday, however, the wind chill was in the single digits as I walked my morning walk, as I always do after writing Market Recon and prior to getting on with the rest of my day. On Monday, I only saw some Canadian Geese and they were trying to shield themselves from the wind. There are hints here or there. Hints that maybe our massed optimism is not misguided. This time. ....

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