EURUSD

Technical Analysis – EURUSD fails to improve bullish bias; indicators are weak

Posted on October 19, 2020 at 8:26 am GMT

EURUSD has been in a slightly descending movement after the break below the rising channel in the previous month. Currently, the price is capped by the short-term simple moving averages (SMAs) and the red Tenkan-sen and the blue Kijun-sen lines. The RSI indicator fell below the neutral threshold of 50, while the MACD is flattening around the zero line, failing to signal a clear direction on price. If the price continues to move lower, immediate support is coming from the 1.1687 level, which [..]

Week Ahead – Flash PMIs could underscore worsening virus trend; US election polls in focus

Posted on October 16, 2020 at 12:36 pm GMT

The virus reality has come back to bite markets just as investors were attempting once again to shrug off the gloom and doom. The daily frequency of tighter Covid restrictions being announced across Europe and dimming expectations of a pre-election stimulus deal by US lawmakers has put a dampener on risk sentiment over the past few days. Uncertainty about the US election and Brexit are adding to the market anxiety. With none of these outstanding issues expected to be resolved [..]

Daily Market Comment – Wall Street storms back, but currencies don’t play along

Posted on October 16, 2020 at 9:04 am GMT

US stocks trim losses, close almost unchanged as Trump hints at higher stimulus offer Yet, the currency arena doesn’t get the memo – dollar holds onto gains Most likely just a reflection of euro and sterling weakness Coming up: US retail sales today, New Zealand election over the weekend Equity and currency markets dance to different tunes Global markets are torn between conflicting narratives, with fears around new virus restrictions in Europe that could cripple the recovery being mostly neutralized [..]

Technical Analysis – EURUSD’s retreat hits a wall around 1.1700; may edge sideways

Posted on October 15, 2020 at 12:27 pm GMT

EURUSD has been on a downward trajectory lately after the recent decline from the 1.1830 high and under the simple moving averages (SMAs), but the pair encountered support near the 1.1700 level and has subsequently rebounded a little. The diving 20-period SMA promotes further losses, while the slowing downward pace of the 100- and 200-period SMAs endorses a horizontal shift in the price. Moreover, the short-term oscillators display conflicting signals in directional momentum. The MACD, in the negative section, is [..]

Technical Analysis – EURUSD may edge sideways; retreat hits a wall around 1.1700

Posted on October 15, 2020 at 11:54 am GMT

EURUSD has been on a downward trajectory lately after the recent decline from the 1.1830 high and under the simple moving averages (SMAs), but the pair encountered support near the 1.1700 level and has subsequently rebounded a little. The diving 20-period SMA promotes further losses, while the slowing downward pace of the 100- and 200-period SMAs endorse a horizontal shift in the price. Moreover, the short-term oscillators display conflicting signals in directional momentum. The MACD, in the negative section, is [..]

Daily Market Comment – Sentiment sours as stimulus talks stall, virus cases surge

Posted on October 15, 2020 at 10:39 am GMT

Stocks retreat, dollar goes nowhere as Mnuchin plays down pre-election stimulus European covid cases go through the roof, but euro stands its ground UK signals it won’t abandon Brexit talks this week, pound jumps Aussie slides after RBA Governor fuels speculation for rate cut Stimulus talks stall, markets fall Global equity markets continue to correct lower, with the major US indices sliding yesterday and Asian bourses being a sea of red on Thursday, as the chances of a US relief [..]

US retail sales may get sidelined amid political woes – Forex News Preview

Posted on October 14, 2020 at 11:11 am GMT

The US calendar will get busier at the end of this week amid a turbulent presidential campaign and a fiscal stimulus drama. But among all data, the focus will be on retail sales for September released Friday at 12:30 GMT. Particularly, markets would like to find out how household spending in the world’s biggest economy is progressing during the present coronavirus conditions, but the results may not paint a rosy picture. The reduced $300 weekly unemployment benefit which Trump extended [..]

Daily Market Comment – Lockdown fears running wild

Posted on October 14, 2020 at 8:06 am GMT

Dollar comes back to life as euro and sterling feel the lockdown blues Little progress in US stimulus talks also supports dollar, pressures stocks Overall, there are plenty of risks that markets are not fully appreciating Lockdown blues hammer euro and pound The European virus situation is getting worse by the day, with a surge in new cases and hospitalizations across the continent forcing many nations to go back into partial lockdown so that healthcare systems are not overwhelmed. The [..]

Daily Market Comment – Stocks and currencies tell a conflicting story

Posted on October 13, 2020 at 12:12 pm GMT

Equities cruise higher, back within breathing distance of record highs But FX doesn’t play ball – yen climbs, commodity currencies underperform Euro headed for trouble amid high infections and growth worries Today: US inflation data coming up, earnings season resumes Currencies don’t play along with stock rally The US stock market rallied furiously on Monday, with the tech-heavy Nasdaq 100 gaining 3.1% to come within breathing distance of its recent record highs, propelled higher by the likes of Apple (+6.4%) [..]

Daily Market Comment – Art of the Deal sends equities higher, torpedoes dollar

Posted on October 12, 2020 at 11:38 am GMT

White House bumps stimulus offer to $1.8 trillion, stock market cheers Kudlow hints this offer could be raised further, keeping optimism alive Dollar slides amid renewed deficit concerns, gold capitalizes ECB chief economist prepares the ground for more easing Markets cheerful as stimulus negotiations resume In an epic reversal after pulling out of the stimulus talks last week, Donald Trump came back to the negotiating table on Friday with a counteroffer of $1.8 trillion, sparking hopes that a deal is [..]

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