EURUSD

Daily Market Comment – Dollar, stocks rise in tandem as Democrats push ahead with stimulus

Posted on February 3, 2021 at 10:05 am GMT

Democrats move to fast-track Biden’s stimulus package through Congress Wall Street surges for second day on earnings beats, brighter outlook US yield curve steepens, lifting the greenback; euro gets left behind Stimulus and vaccine hopes buoy markets Optimism about a stronger economic outlook and an ebb in the pandemic continued to gather pace on Wednesday, erasing last week’s jitters that sent stocks plunging and the dollar soaring. Equities have since made a powerful comeback, but the US currency has only [..]

US Open Note – Stocks resume gains; oil pushes higher

Posted on February 2, 2021 at 1:59 pm GMT

Dollar, stocks and oil advance even higher One of the main highlights today is the rally in the US dollar, which is still moving higher, near 105.00 versus the Japanese yen. The dollar index is slightly up, while US stocks were re-energized as investors awaited a slew of earnings from corporate America including Exxon Mobil, Amazon.com and Alphabet. The US economy will return to pre-pandemic levels even without another shot of stimulus, announced a study of the Congressional Budget Office. This will endorse the Republicans’ that there is no need for one [..]

Daily Market Comment – Dollar holds firm after gains as stimulus eyed; Reddit frenzy eases

Posted on February 2, 2021 at 10:06 am GMT

Dollar approaches 2-month top as stimulus hopes push up yields, euro falters Stocks rise again as Wall Street rebounds, retail craze cools, silver plunges Aussie bounces back, shrugs off surprise QE boost by RBA A dollar comeback? The US dollar appears to be on the rise again, mirroring a similar upward drive in 10-year Treasury yields in recent days. Expectations that the United States is moving closer to another big stimulus package lifted the greenback to near 2-month highs against [..]

Euro could shrug off Q4 GDP growth data – Forex News Preview

Posted on February 1, 2021 at 5:06 pm GMT

Eurozone will publish its first GDP estimates for the last quarter of 2020 on Tuesday at 10:00 GMT and undoubtedly the results will be negative given the extended lockdown restrictions during that period. As for the euro, the vaccine rollout, and more recently the ECB’s discussions over its strength seem to be the catalyst behind its recent weakness. Hence, unless there are updates on these fronts, this week’s data could do little to move the euro. Q4 GDP data may [..]

Daily Market Comment – Stocks steady as retail traders switch focus to silver

Posted on February 1, 2021 at 9:58 am GMT

Silver rockets higher as it becomes the new target for Reddit traders Equity markets a lot calmer but growth worries, vaccine doubts cap gains Pound leads FX majors, euro tarnished by EU’s vaccine mess Retail investors pile in on silver as Reddit frenzy continues The war between the establishment on Wall Street and small-time investors is far from over as not only are retail traders still betting against short sellers of GameStop and other Reddit favourites, but they are now [..]

Technical Analysis – EURUSD’s pullback consolidates into Ichimoku cloud

Posted on February 1, 2021 at 9:26 am GMT

EURUSD is currently edging sideways around the 50-day simple moving average (SMA) and crawling into the Ichimoku cloud, after a retracement from the recent 32½-month high of 1.2349. Despite the retraction, the slowed negative bearing in the red Tenkan-sen line and the flattening of the blue Kijun-sen line are both backing the stalling price action. Nonetheless, the climbing SMAs are retaining a bullish tone, which is nurturing the positive structure. Evaporating directional momentum is apparent in the short-term oscillators. Lately, [..]

Week Ahead – NFP bounce, stimulus progress might calm markets; BoE and RBA eyed

Posted on January 29, 2021 at 1:41 pm GMT

It’s going to be a relatively busy start to February as investors will be hoping the latest US jobs report will confirm that December’s rough patch was short lived. However, that won’t be the only data to test the market mood as preliminary GDP numbers out of the Eurozone could heighten fears of a double-dip recession. In the world of central banks, the first policy decisions of the year are due in Australia and Britain. The Reserve Bank of Australia [..]

Dollar remains overvalued; can America’s twin deficits still sink it? – Special Report

Posted on January 28, 2021 at 2:28 pm GMT

The US dollar ended a volatile 2020 down 6.5% against a basket of currencies, underlining the dramatic turnaround in risk appetite from the depths of the March virus crisis. That risk rally is showing no sign of abating anytime soon, driving bearish bets against the dollar to near-decade highs. Nevertheless, the dollar’s negative outlook is becoming increasingly murky as the US economy is poised to outperform its peers in 2021. In view of this, can America’s soaring current account and [..]

Technical Analysis – EURUSD downside risks remain below trend line and 200-MA

Posted on January 28, 2021 at 12:50 pm GMT

EURUSD is consolidating between the curbing 200-period simple moving average (SMA) and the key support zone of 1.2052-1.2080 after the correction from the 32½-month high of 1.2349. The stabilising 50- and 200-period SMAs are promoting the horizontal picture, while the falling 100-period SMA and its recent bearish crossover of the 200-period SMA is nurturing a weakening outlook. The short-term oscillators are gesturing mixed signals in directional momentum. The MACD is stalling below its zero and trigger lines, while the RSI [..]

Fed meets: a non-event or the start of a brewing dilemma? – Forex News Preview

Posted on January 26, 2021 at 1:08 pm GMT

The Federal Reserve will begin its first policy meeting of the year on Tuesday and will announce its decision on Wednesday at 19:00 GMT. No change is expected in the Fed’s monetary policy settings nor in its vast array of emergency programmes. The sweeping shakeup at the White House and the recently passed virus relief package by Congress likely bought the Fed a few months before policymakers need to start thinking about the next course of action. However, with so [..]

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