FOREX TradingCharts.com

Forex News: Euro Firms As ECB Guindos Says July Rate

Euro Firms As ECB Guindos Says July Rate Hike Likely

04/21/2022 - 06:25:00 (RTTNews)

(RTTNews) - The euro moved up against its major counterparts in the European session on Thursday, following comments from European Central Bank Vice President Luis de Guindos supporting a rate hike as early as July.

Guindos said that there is no reason for not winding down the asset purchase program in July.

"For the first rate hike we will have to see our projections, the different scenarios," but "from today's perspective, July is possible and September, or later, is also possible."

Guindos stressed that a liftoff will depend on the data as the Ukraine-Russia conflict clouds the economic outlook.

Guindos' comments, which came on the heels of hawkish remarks from ECB policy makers, namely Joachim Nagel, Pierre Wunsch and Martins Kazaks, boosted expectations for a rate hike by July.

European Central Bank President Christine Lagarde will take part in a panel discussion together with Fed Chair Jerome Powell at the IMF-World Bank meeting later today.

The euro jumped to 140.00 against the yen, its highest level in nearly 7 years. The euro may locate resistance around the 143.00 level.

The euro climbed to a 10-day high of 0.8367 against the pound and a 2-week high of 1.0936 against the greenback, off its early lows of 0.8296 and 1.0824, respectively. The euro is seen finding resistance around 0.86 against the pound and 1.12 against the greenback.

The euro touched 1.0371 against the franc, setting more than a 3-week high. On the upside, 1.05 is likely seen as the next resistance level for the currency.

The euro rebounded to 1.3632 against the loonie, after touching 1.3519 in the Asian session, which was its lowest level since June 2015. If the currency rises further, 1.38 is possibly seen as its next resistance level.

The euro climbed to a 2-day high of 1.4677 against the aussie and more than a 3-week high of 1.6090 against the kiwi, up from its prior 1-week low of 1.4548 and a 6-day low of 1.5915, respectively. The euro is likely to challenge resistance around 1.49 against the aussie and 1.62 against the kiwi.

Looking ahead, U.S. weekly jobless claims for the week ended April 16 will be published in the New York session.

At 10:00 am ET, Eurozone flash consumer sentiment index for April will be out.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Russian Ruble Falls To 6-day Low Against U.S. Dollar After Russia Rate Cut (01 hr(s), 47 min(s), 25 sec(s) ago)
(RTTNews) - The Russian ruble declined against the U.S. dollar in the European session on Thursday ...Full Story»

Euro Falls After Recent Rally (51 min(s), 35 sec(s) ago)
(RTTNews) - The euro slipped against its major counterparts in the European session on Wednesday, ...Full Story»

NZ Dollar Appreciates After RBNZ Rate Hike, Signals Further Aggressive Moves (02 hr(s), 35 min(s), 25 sec(s) ago)
(RTTNews) - The New Zealand dollar spiked higher against its major trading partners in the Asian s ...Full Story»

U.S. Dollar Drops To Lowest Levels In A Month (39 min(s), 35 sec(s) ago)
(RTTNews) - The value of the U.S. dollar has moved to the downside over the course of trading on T ...Full Story»

Dollar Little Changed After U.S. New Home Sales (18 min(s), 35 sec(s) ago)
(RTTNews) - U.S. new home sales for April have been released at 10:00 am ET Tuesday. The greenback ...Full Story»

Dollar Falls Vs Most Majors Ahead Of U.S. New Home Sales (12 min(s), 35 sec(s) ago)
(RTTNews) - U.S. new home sales for April are due at 10:00 am ET Tuesday. Ahead of the data, the g ...Full Story»

Pound Drops As U.K. Private Sector Growth Slows To 15-month Low (15 min(s), 35 sec(s) ago)
(RTTNews) - The pound declined against its major counterparts in the European session on Tuesday, ...Full Story»

Australian, NZ Dollars Lower On China Growth Worries (03 hr(s), 17 min(s), 25 sec(s) ago)
(RTTNews) - The Australian and NZ dollars fell against their major counterparts in the Asian sessi ...Full Story»

Search

FOREX NEWS

Russian Ruble Falls To 6-day Low Against U.S. Dollar After Russia Rate Cut

05/26/2022 - 04:58 AM (RTTNews)
(RTTNews) - The Russian ruble declined against the U.S. dollar in the European session on Thursday ...Full Story>>

Euro Falls After Recent Rally

05/25/2022 - 08:36 AM (RTTNews)
(RTTNews) - The euro slipped against its major counterparts in the European session on Wednesday, ...Full Story>>

NZ Dollar Appreciates After RBNZ Rate Hike, Signals Further Aggressive Moves

05/25/2022 - 04:10 AM (RTTNews)
(RTTNews) - The New Zealand dollar spiked higher against its major trading partners in the Asian s ...Full Story>>

U.S. Dollar Drops To Lowest Levels In A Month

05/24/2022 - 16:26 PM (RTTNews)
(RTTNews) - The value of the U.S. dollar has moved to the downside over the course of trading on T ...Full Story>>

Dollar Little Changed After U.S. New Home Sales

05/24/2022 - 10:03 AM (RTTNews)
(RTTNews) - U.S. new home sales for April have been released at 10:00 am ET Tuesday. The greenback ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.