Weekly Technical Analysis For March 1st to 5th, 2021 Get Ready For US Nonfarm Payrolls This Week EUR/USD: The US Dollar climbed higher last Friday by a sharp rise in U.S. Treasury yields, while riskier currencies were hit hard amid fears central banks will have to tighten sooner than previously expected. US PCE price index, the Federal Reserve preferred measure of inflation, showed price pressures were tepid last month. In the 12 months through January, the PCE price index increased 1.5% from 1.4% in December. Additionally, Fed Ch...

Keep Your Eye On Fed Chair Powell Testify And US GDP Growth EUR/USD: The US Dollar was under pressure last Friday after disappointing labor market data diluted optimism over a quick U.S. economic recovery.  The Federal Reserve warned that the labor market would take time to return to trend and thus its easy monetary policy would stay in place for a considerable period.  US Treasury Secretary Yelle...

EUR/USD: Last week, ECB left rates unchanged. ECB's Lagarde said that risks surrounding the Euro-area outlook remain tilted to the downside but less pronounced. Underlying price pressures are expected to remain subdued. Inflation is likely to increase in the coming months as the pandemic's impact fades.  ECB President Lagarde added that very carefully monitoring the FX rate. Q4 GDP decline will "travel into" Q1 and the 2021 forecast is still broadly valid. In the US, Democrats last week took control of the Senate, which has increased the likelihood that new President Joe Biden&...

Focus On ECB Rate Decision And Eurozone CPI Inflation This Week EUR/USD:  Inflation in the US, as measured by the Consumer Price Index (CPI), rose to 0.4% in December from 0.2% in November, the report published by the US Bureau of Labor Statistics showed on Wednesday. On a yearly basis, the CPI edged higher to 1.4% and came in higher than the market expectation of 1.3%. Moreover, Annual Core PPI e...

Keep Your Eye On US Inflation Data This Week EUR/USD: The US Jobs Report was a disappointing read throughout last week. Nonfarm Payrolls (NFP) in the US fell by 140,000 in December. This reading followed November's increase of 336,000 (revised from 245,000) and missed the market expectation of +71,000 by a wide margin. Further details of the publication revealed that the Unemployment Rate stayed unchanged at 6.7% a...

Focus on US Non-Farm Payrolls today! The US Jobs Report will be released at 13:30 p.m. (GMT). Why Is This Important? The Non-Farm Payrolls track the change in the number of people employed by the US in manufacturing, construction, and goods companies. It does not include farming industry employment. The US Jobs Report is so important for the upcoming Fed decisions. In the US, Democrats won effective control of the Senate this week, giving President-elect Joe Biden scope to push through more spending, which might be negative for bonds and the dollar. Yesterday, as...