News

There's a EUR/USD floor but we also see upside limitations - TD Research

eFXdata reports that TD Research discusses EUR/USD outlook.

"Asia's export-generated surplus has created an excess of USDs that their central banks are using to swap into other major currencies. This diversification process should establish a new EUR floor. Yet, a move above 1.25 will need the support of cyclical drivers. Another underappreciated aspect falls to the perceptions of relative balance sheet growth. Fed liquidity is supporting real low rates, but the ECB's balance sheet is now growing faster. The implication is that the EURUSD has started to overshoot one of the pair's core monetary drivers. Given the relative growth outlook, it's likely these dynamics should also anchor EURUSD upside potential," TD Research adds.

You may also be interested:

23:29 22.01.2021

Key events for next week: UK unemployment rate, US consumer confidence indicator, Australian consumer price index, Fed interest rate decision on the, US and Canadian GDP, Chinese PMI indices

On Monday, at 09:00 GMT, Germany will release the IFO Business Environment indicator, the IFO assessment of the current situation indicator and the IFO Economic Expectations indicator for January. At 14:00 GMT, Belgium will publish the business sentiment index for January. At 16:00 GMT, ECB President Lagarde will give a speech. At 23:50 GMT in Japan, the minutes of the Bank of Japan's monetary policy meeting will be presented.On Tuesday, at 07:00 GMT, Britain will report changes in the number of

19:09 22.01.2021

EIA’s report reveals a surprise climb in U.S. crude oil inventories

The U.S. Energy Information Administration (EIA) revealed on Friday that crude inventories surged by 4.351 million barrels in the week ended January 15. Economists had forecast a drop of 1.167 million barrels.At the same time, gasoline stocks fell by 0.260 million barrels, while analysts had expected an advance of 2.771 million barrels. Distillate stocks rose by 0.458 million barrels, while analysts had forecast an increase of 1.214 million barrels.Meanwhile, oil production in the U.S.

18:32 22.01.2021

U.S. existing-home sales unexpectedly increase in December

The National Association of Realtors (NAR) announced on Friday that the U.S. existing home sales rose 0.7 percent m-o-m to a seasonally adjusted rate of 6.76 million in December from a revised 6.71 million in November (originally 6.69 million).Economists had forecast home resales decreasing to a 6.55 million-unit pace last month. In y-o-y terms, existing-home sales surged 22.5 percent in DecemberAccording to the report, two of the four major regions recorded m-o-m gains in existing-home