EURUSD

Daily Market Comment – Manufacturing data revive dollar, ECB wary of euro

Posted on September 2, 2020 at 9:08 am GMT

Encouraging ISM data bring dollar back to life, Wall Street sets new records Europe enters deflation, ECB chief economist throws first jab at the euro Today: ADP jobs report and lots of central bank speakers US manufacturing data give dollar the kiss of life A strong batch of US manufacturing numbers resurrected the dollar from the ranks of the dead and propelled Wall Street to another record high yesterday. The ISM manufacturing index jumped to its highest level in [..]

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 11:06 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sunk to a fresh [..]

Technical Analysis – EURUSD although paused, conveys robust upside risks

Posted on August 31, 2020 at 7:41 am GMT

EURUSD maintains a solid bullish mode, despite appearing stuck within the confines of 1.1695 and 1.1965. The Ichimoku lines are broadcasting a positive bearing regardless of the recent stalling in the red Tenkan-sen line. Likewise, the progressing simple moving averages (SMAs) command a resounding bullish bias. Additionally, the short-term oscillators suggest positive momentum is improving. The MACD, deep in the positive section, is below its red signal line but looks set to reclaim it, while the RSI is nearing the [..]

Week Ahead – US jobs report eyed for recovery progress; Calm and steady at the RBA

Posted on August 28, 2020 at 12:07 pm GMT

As a possible fiscal cliff looms in the United States, the August nonfarm payrolls report will be a crucial test for the strength of the economic recovery, making it the highlight of a relatively busier week as summer draws to an end. Canadian employment figures are also on the agenda, while the latest PMIs out of China will be important for market sentiment. But it is the Australian dollar that could see the most crossfire out of the major currencies [..]

Daily Market Comment – Powell jolts dollar; yen spikes on Abe resignation

Posted on August 28, 2020 at 8:52 am GMT

Powell sets out Fed’s new approach to inflation and employment Dollar swings wildly as yields plunge and then rally on Fed policy shift Japan’s Abe quits unexpectedly; Tokyo stocks tumble, yen jumps Fed’s new plan stokes inflation expectations As expected, Fed Chair Jerome Powell unveiled on Thursday a big shakeup of how the Federal Reserve conducts monetary policy. The Fed adjusted its objectives for both inflation and employment, moving to a more flexible regime of targeting an average inflation rate [..]

Daily Market Comment – Dollar treads water as all eyes on Powell

Posted on August 27, 2020 at 8:37 am GMT

Markets steady as Powell’s highly anticipated Jackson Hole speech awaited Dollar braces for major dovish tilt by the Fed Aussie and kiwi lead the gainers; loonie seeks further oil boost How dovish can the Fed get? Fed chief Jerome Powell will take centre stage when he updates investors on the Fed’s policy framework review at the annual Jackson Hole conference of central bankers, which has gone virtual this year due to the ongoing pandemic. Powell will deliver his hotly anticipated [..]

Technical Analysis – EURUSD is capped by SMAs and fails to improve positive picture

Posted on August 27, 2020 at 8:31 am GMT

EURUSD attempted to break the upper border of the neutral zone it has been ranging within the last week, but its efforts proved unsuccessful as the 40-period simple moving average (SMA) defended the bears once again around 1.1850. The short-term oscillators are suggesting mixed signals as the RSI is hitting the 50 level, though, the MACD is gaining ground and is approaching the zero level. Hence, the short-run risk is looking neutral-to-positive now and another retest of the 1.1850 – [..]

Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]

Daily Market Comment – Virus ‘breakthrough’ lifts stocks; dollar awaits Powell speech

Posted on August 24, 2020 at 9:00 am GMT

Markets start week on positive note amid progress on Covid-19 treatment and vaccine Dollar holds firm as investors gear up for Powell’s big Jackson Hole speech Euro and pound left reeling after data shock and Brexit blow Virus optimism leads equities higher Markets have started the week on a cheery note as news that President Trump has authorized the emergency use of plasma treatment for Covid-19 patents and is considering fast tracking a UK vaccine before the election boosted sentiment. [..]

Technical Analysis – EURUSD retains positive tone but negative signals apply strain

Posted on August 24, 2020 at 7:30 am GMT

EURUSD maintains a bullish tone despite the pullback from the fresh 27-month peak of 1.1965. The Ichimoku lines sustain a bullish momentum some distance above the Ichimoku cloud, while the advancing simple moving averages (SMAs) dictate a predominant positive bearing. That said, the short-term oscillators reflect a negative picture however and momentum seems to be shifting. The MACD has weakened below its red trigger line but remains far in the positive region, while the RSI is picking up after slipping [..]

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