Market news
28.12.2021, 16:27

EUR/USD drops to six day lows under 1.1300

  • US dollar gains momentums across the board on America hours; DXY gains 0.12%.
  • Equity prices in Wall Street mostly in positive ground.
  • EUR/USD breaks minor range, but remains sideways.

The EUR/USD weakened after the beginning of the American session and dropped to 1.1288, reaching the lowest level in six days. During the last hour, it trimmed losses rising back above 1.1300.

Stocks up, US yields down but off lows

In Wall Street, stocks are trading mostly higher amid optimism about the impact of Omicron following new announcements from the Centers for Disease Control regarding isolation guidelines. The Dow Jones gains 0.44% and the SP500 is rising 0.11%. The 10-year yield stands at 1.46%, modestly lower for the day. The rebound of the US dollar was helped by US yields that move of lows on American hours.

Economic data released on Tuesday showed the FHFA House Price Index rose 1.1% in October while the S&P CoreLogic/Case-Shiller index climbed 18.4% from a year ago in October (below the 19.1% of September).

EUR/USD still sideways

Despite hitting six-day lows, EUR/USD continues to move sideways without a clear direction. A consolidation under 1.1290 should expose the next support level at 1.1260. While on the upside, the euro needs to break above the 1.1350/60 barrier in order to clear the way to more gains.

Technical levels

 

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location