EURUSD

Technical Analysis – EURUSD pulls back from 4-month high; bullish in medium term

Posted on July 16, 2020 at 2:41 pm GMT

EURUSD is declining somewhat following the pullback on the four-month high of 1.1421 on Wednesday. This short-term bearish movement is confirmed by the technical indicators, as the MACD is falling beneath its trigger line in the positive zone, while the stochastic oscillator is approaching the oversold territory. Immediate support is coming from the 20-period simple moving average (SMA), which hovers near the 1.1374 support. Below that, the 40-period SMA at 1.1342 and the upper surface of the Ichimoku cloud at [..]

Daily Market Comment – Dollar edges up, stocks slip as recovery doubts set in

Posted on July 16, 2020 at 8:51 am GMT

China’s GDP bounces back but signs of uneven recovery dampen sentiment White House’s tough line on China also a drag on risk assets Euro softer ahead of ECB; Stocks eye US earnings and retail sales for direction China returns to growth but weak spending worries markets As far as V-shaped recoveries go, China’s economic recuperation from the coronavirus couldn’t look more V-shaped. Gross domestic product (GDP) jumped by 11.5% over the quarter to June after collapsing by almost 10% in [..]

US retail sales: Outdated good news? – Forex News Preview

Posted on July 15, 2020 at 2:19 pm GMT

America reports retail sales for June at 12:30 GMT Thursday, and while forecasts point to another increase, the data may be seen as outdated already. The outlook for consumption took a severe hit in late June as several states rolled back re-opening plans, so investors will likely wait for July data before drawing any conclusions about the US recovery. As for the dollar, its direction might hinge mostly on risk sentiment, the Fed, and funnily enough, on the upcoming EU [..]

ECB to hold fire as Eurozone outlook brightens, but divisions may jolt euro – Forex News Preview

Posted on July 15, 2020 at 9:40 am GMT

The European Central Bank is expected to take a pause in its pandemic response and keep policy unchanged when it announces its latest decision on Thursday at 11:45 GMT. Having been the epicentre of the Covid-19 pandemic at one point, Europe is now one of the few regions in the world that has so far managed to avoid a resurgence. Hence, investors are growing more confident about the recovery of the euro area and President Christine Lagarde will probably echo [..]

Daily Market Comment – Euro surges, stocks bounce back amid fresh vaccine hopes

Posted on July 15, 2020 at 8:33 am GMT

Vaccine hopes boost risk assets; Wall Street selloff is over before it even began Euro and aussie charge ahead; pound and loonie try to catch up Oil holds its nerve as OPEC+ set to ease production cuts Mixed earnings overshadowed by promising vaccine results Global equities were back in bullish mode on Wednesday after a brief wobble earlier in the week had some investors worried that this could be the start of a long overdue correction in the markets. However, [..]

Daily Market Comment – Wall Street stumbles as US-China tensions brew, virus cases surge

Posted on July 14, 2020 at 8:46 am GMT

Nasdaq falters as more US states roll back reopenings amid record new infections Sino-US tensions also upset stocks, but dollar and gold hold steady Markets braced for busy week as earnings, data and central bank meetings coming up Tech stocks in rare selloff Shares on Wall Street slipped late into the session on Monday as a persistent surge in new coronavirus cases across the United States unnerved investors. The tech-heavy Nasdaq Composite had been trading in record territory before reversing [..]

Daily Market Comment – Stocks creep higher as terrible earnings loom; dollar slips further

Posted on July 13, 2020 at 8:50 am GMT

Stocks braced for disastrous earnings, but low bar sets stage for profit beats Dollar extends downward trajectory despite worrisome virus numbers Gold capitalizes on weaker greenback, but euro turns more cautious Worst earnings season ever? Equity markets were in a surprisingly chirpy mood on Monday, with little sign of distress ahead of what is expected to be the worst earnings season in at least 12 years. Banks will be the primary focus this week, with Citigroup, JP Morgan and Wells [..]

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

Posted on July 13, 2020 at 7:00 am GMT

EURUSD has been trading sideways over the last month failing to improve the bullish rally that started from the 1.0870 support. Currently, the pair is standing above the 20-day simple moving average (SMA), however, the red Tenkan-sen line dropped beneath the blue Kijun-sen line, suggesting a possible downside retracement. Looking at the momentum indicators, the MACD is hovering near the trigger line in the positive region, while the RSI is marginally sloping up above the 50 level in the short-term [..]

Week Ahead – US, China data to keep recovery theme going; ECB, BoJ and BoC meet

Posted on July 10, 2020 at 12:38 pm GMT

There will be no shortage of big headline events over the next few days as major data releases, central bank meetings and an EU gathering should make for a busy week. However, the primary focus will be on the recovery story amid further spikes in coronavirus cases in several countries, including the United States. Retail sales numbers out of America and second quarter GDP figures from China should reveal whether the growth rebound is maintaining momentum. On the other hand, [..]

Daily Market Comment – Virus acceleration and politics upset markets

Posted on July 10, 2020 at 9:00 am GMT

Wall Street loses altitude, dollar regains ground on US virus spike, Biden remarks But Nasdaq defies gravity, hits new records on relentless ‘defensive tech’ demand In the bigger picture, most charts have gone nowhere for a month now – blame the Fed? Flood of distressing news overpowers stimulus hopes Risk aversion made a comeback on Thursday as a flurry of alarming headlines led investors to cut their exposure to riskier assets, in fear that the avalanche of stimulus globally may [..]

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