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Warren Buffett says Berkshire Hathaway is seeing ‘very substantial inflation’ and raising prices – Fxcabal Share Facebook Twitter LinkedIn Pinterest Email Warren Buffett is seeing inflation among Berkshire Hathaway’s collection of businesses as the economic recovery from the pandemic kicks into high gear. “We are seeing very substantial inflation,” the Berkshire chairman and CEO said at the conglom...

Investors of Dogecoin loses Over $12 million as Doge fall from all tme high – Fxcabal Share Facebook Twitter LinkedIn Pinterest Email The fast-rising crypto asset, Dogecoin suffered losses in the early hours of Sunday despite Elon Musk’s debut on the long-awaited Saturday Night Live which surprisingly led to a violent dump. At the time of drafting this report the dog meme coin trad...

The EUR/USD dropped further during the American session and bottomed at 1.2195, hitting the lowest level in two days. As of writing it is hovering around 1.2200, still under pressure.

The recovery of the US dollar across the board pushed EUR/USD to the downside. The DXY bounced and rose to 90.05. It is up 0.35%, rising after two days of losses. The rebound from multi-month lows in DXY took place even as US yields move to the downside and as equity prices rebounded.

The 10-year yield stands at 1.55%, matching Tuesday’s three-week low. The Dow Jones rises by 0.21% and the Nasdaq by 0.65%. The rebound in equity prices did not help the euro. The common currency also pulled back toward daily lows versus the Swiss franc and the pound.

From a technical perspective, the failure of EUR/USD to break again the 1.2260 left the euro vulnerable to a bearish correction. On the downside, the next support stands at 1.2185, followed by 1.2160 (May 19 and 21 low). The immediate resistance is seen at 1.2215, followed by 1.2240, a recovery above would open the doors to a test of the 1.2260/65 area.

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