Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.15992 with take profit at 1.16141.
Bearish Preference:
Sell position is envisaged if price trades below 1.15812 with take profit at 1.15691.
Fundamentals:
11:00am EUR ZEW Economic Sentiment
EUR German ZEW Economic Sentiment
2:00pm EUR ECB President Lagarde Speaks
2:30pm USD PPI m/m USD Core PPI m/m
3:00pm USD Fed Chair Powell Speaks
7:01pm USD 10-y Bond Auction
Comment: European stock markets have hit record highs of late, boosted by relatively dovish central bank messages, signs of a global economic recovery and a healthy earnings season on both sides of the Atlantic. A potential fly in the ointment could be the high levels of inflation forcing central banks, and the Federal Reserve in particular, to raise interest rates earlier than expected. Investors will thus keep an eye on the latest U.S. producer price index due later Tuesday and then the consumer price index on Wednesday. With the Fed meeting over, US policymakers took to the podium today to talk about rate hikes and there is growing support for two rounds of tightening in 2022.
Analysis: SCRUM Team