{"id":176726,"date":"2023-10-18T23:06:56","date_gmt":"2023-10-18T17:36:56","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176726"},"modified":"2023-10-18T23:06:56","modified_gmt":"2023-10-18T17:36:56","slug":"eur-usd-knocked-into-1-0525-as-gaza-escalation-political-uncertainty-sour-the-mood-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eur-usd-knocked-into-1-0525-as-gaza-escalation-political-uncertainty-sour-the-mood-crypto-news\/","title":{"rendered":"EUR\/USD knocked into 1.0525 as Gaza escalation, political uncertainty sour the mood &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>The EUR\/USD is extending its decline for Wednesday, backsliding into 1.0525.<\/strong><\/li>\n<li><strong>the EUR failed to complete a drive into the 1.0600 handle as market sentiment turns broadly lower.<\/strong><\/li>\n<li><strong>US Treasury yields are back on the rise, with the 10-year T-note yield at its highest price since 2007.<\/strong><\/li>\n<\/ul>\n<p>The EUR\/USD kicked off Wednesday trading looking to reclaim the 1.0600 handle in the early sessions, but a resurgence of risk-off market flows has sent the Euro (EUR) back down against the US Dollar (USD), knocking the floor out of yesterday&#8217;s low and testing the waters\u00a0near 1.0520.<\/p>\n<p>The pair is currently trading back up into 1.0550 in a relief pullback, but overall <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/sentiment\">market sentiment<\/a>\u00a0continues to lean\u00a0bearish and upside momentum is likely to remain limited.<\/p>\n<p>Global tensions are rising as the Gaza Strip conflict between Israel and Hamas continues to escalate; the latest rocket strike\u00a0on a hospital in Gaza sees one of the largest civilian death tolls in recent history, with over 500 shelter-seekers dead who were looking to take refuge in the hospital before a rocket struck the building. Both Israel and Hamas have blamed the other side for the building strike.<\/p>\n<h2 class=\"fxs_headline_medium\">Hamstrung US Congress over failed Speaker vote making investors uneasy as funding crunch looms<\/h2>\n<p>In the US, political uncertainty is on the rise as the US Congress fails to select a new Speaker of the House, with two votes in two days failing to secure a nominee. With the US Congress paralyzed after the Republican majority ousted their own Speaker, the US is only 30 days away from the end of a short-term funding stopgap that was secured in the eleventh hour earlier this month.<\/p>\n<p>With the US barreling towards another partisan funding clash in mid-November, uncertainty is on the rise and uneasy investors are pulling back into safe havens, propping up the USD and sending US Treasury yields into multi-year highs, with the 10-year Treasury hitting 4.928% on Wednesday, its highest yield since 2007.<\/p>\n<p>EU Index of Consumer Prices (CPI) inflation figures on Wednesday came in as-expected, with September&#8217;s CPI inflation coming in at 0.3%, and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/ecb\">the European Central Bank (ECB)<\/a> President <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/eurusd\">Christine Lagarde<\/a> noting that underlying inflation remains strong, with wage growth still &#8220;historically high&#8221;.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/news\/ecbs-lagarde-underlying-inflation-is-still-strong-wage-growth-is-historically-high-202310152306\">ECB\u2019s Lagarde: Underlying inflation is still strong, wage growth is historically high<\/a><\/p>\n<p>Next up on the economic <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">calendar<\/a> will be US Initial Jobless Claims on Thursday, with investors forecasting 212K new jobless claimants for the week into October 13th, compared to 209K for the previous week.<\/p>\n<p>US Federal Reserve (Fed) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Chairman Jerome Powell<\/a> will also be giving a speech tomorrow. Fed Chair Powell will be speaking at the Economic Club of New York Luncheon around 16:00 GMT Thursday.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD Technical Outlook<\/h2>\n<p>The EUR\/USD\u00a0is continuing to face rejection from a firm descending trendline drawn from July&#8217;s swing high at 1.1275. The pair is struggling to maintain a bullish bounce from the last major swing low into 1.0450, and a bearish continuation will see the pair set to make a new 10-month low.<\/p>\n<p>Near-term resistance is coming from a bearish 50-day Simple Moving Average (SMA), currently descending into the 1.0700 chart region, while the 200-day SMA is beginning to rollover into a bearish pattern from just north of the 1.0800 handle.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD Daily Chart<\/h2>\n<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD Technical Levels<\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The EUR\/USD is extending its decline for Wednesday, backsliding into 1.0525. the EUR failed to complete a drive into the 1.0600 handle as market sentiment turns broadly lower. US Treasury yields are back on the rise, with the 10-year T-note yield at its highest price since 2007. The EUR\/USD kicked off Wednesday trading looking [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":16514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,433,255,250,252,247,253,249,256,254],"class_list":["post-176726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-eurusd","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176726"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176726\/revisions"}],"predecessor-version":[{"id":176727,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176726\/revisions\/176727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/16514"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}