EUR/USD Eases As Demand For The Greenback Grows
#53234 (In Topic #51649)
EUR/USD is closer to hitting the 50-Day Moving Average roadblock as it moves to the upside, while the greenback recovers across the board. The EUR/USD may be retreating after confronting tough resistance, yet the bullish potential continues to be solid.To get more news about topfx referral, you can visit wikifx.com official website.However, a US Treasury yields recovery supports the fresh uptrend for the dollar and therefore limits further EUR/USD gains.On the European front, worrying news out of Ukraine following President Volodymyr Zelenskyy’s comments that their military is gearing up for a renewed Russian offensive along with increasingly concerning outlooks about inflation is doing nothing more than restoring the dollar’s safe-haven charm. In fact, soaring prices across the EU pushed eurozone peripheral yields to new record highs.Thursday’s trading focus seems to be on the main currency pair as investors feel the broader market sentiment shift.The slight reduction in oil prices happened as news comes out that the US is considering tapping into oil reserves. The tactical move leads to a 5% drop in prices. New trading opportunities appear as markets turn their attention to the German Retail Sales and US PCE Inflation due later in the day. In addition to the Eurozone Preliminary inflation data and the US NFP report coming out on Friday.Meanwhile, as China battles a surge in Covid cases and renewed lockdown measures, it takes unusual steps to secure its financial sector as it requires essential staff to take residence in the offices to avoid severe market disruptions.
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