We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Market News As investors anticipate US inflation data, the EUR/USD rally nears 1.0200

As investors anticipate US inflation data, the EUR/USD rally nears 1.0200

After paring week-beginning gains, the EUR/USD exchange rate is inactive. The politics of Italy, the gas problem in Germany, and the US-China spat over Taiwan appear to threaten bulls. Stronger EU Sentiment data and declining rates limit bearish momentum. In addition to risk catalysts, secondary US employment-related data will direct short-term movements.

Daniel Rogers
2022-08-09
826

 截屏2022-08-09 上午10.12.13.png

 

During Tuesday's Asian session, the EUR/USD fluctuates around 1.0200 after retreating from 1.0221 as traders seek new information. Beginning the week on a bullish note, the major currency pair pared some of its gains by Monday's close. However, a lack of important data/events and cautious mood ahead of Wednesday's release of the US Consumer Price Index (CPI) for July appear to limit recent price movements.

 

Enhanced readings of the Eurozone Sentix Investor Confidence Index and a decline in US Treasury yields illustrate the previous day's EUR/USD gains. However, the main sentiment indicator Index improved in August to -25.2 from -24.7 predicted and -26.4 previously. Details indicate that the current situation in the eurozone has improved from its lowest point since March 2021, when it was -16.5, to -16.3 this month. In spite of a slight improvement to -33.8, the expectations index remains close to its lowest level since December 2008, while being at its lowest level since then. In contrast, the US Dollar Index (DXY) recorded a 0.19 percent daily decline to 106.37.

 

Elsewhere, it appears that the Euro has been subjected to downward pressure as a result of Italian political concerns resulting from the centrist Azione's withdrawal from the newly formed alliance prior to the September elections. "Having just last week agreed to create an alliance with the Democratic Party and the +Europe party, the centrist Azione has now withdrawn, with party leader Carlo Calendar stating that "the parts didn't fit." The alliance was created in an effort to prevent a more conservative government from gaining power following the September 25 election, according to Reuters and Market News Publishing US.

 

Notably, US President Joe Biden's disapproval for China's actions towards recapturing Taiwan and condemnation of House Speaker Nancy Pelosi's visit to Taipei looked to have limited EUR/USD gains the day before.

 

Following a 14-bps increase the previous day, 10-year US Treasury rates declined about seven basis points (bps) to 2.75 percent as a result of these maneuvers. In addition, Wall Street began Monday's trading day on a stronger note before concluding on a mixed note, although S&P 500 Futures are showing slight increases as of press time.

 

The US Nonfarm Productivity and Unit Labor Costs for the second quarter (Q2) could be of interest to EUR/USD market participants. Forecasts indicate that US Nonfarm Productivity might increase to -4.6 percent from -7.3 percent, while Unit Labor Costs could decline to 9.5 percent from 12.6 percent. In addition, the news surrounding Taiwan and Russia will be crucial for establishing direction.


Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free