EURUSD

Daily Market Comment – Nasdaq and gold take to the skies, dollar tanks

Posted on July 9, 2020 at 9:04 am GMT

Stocks and commodity currencies grind higher without much news Sinking dollar lifts all FX boats, pound and loonie capitalize the most Gold rally keeps rolling – has bullion changed roles with the dollar? Weekly US jobless claims today to reveal initial impact of re-closures Investors stick to crisis playbook, buy tech shares and gold News flow was rather limited on Wednesday, helping global markets to stay in a good mood since ‘no news is good news’ these days, with such [..]

Technical Analysis – EURUSD unlocks 1-month peak; raises optimism for bullish actions

Posted on July 9, 2020 at 7:06 am GMT

EURUSD climbed to a new one-month top of 1.1370 earlier today, breaking the neutral range of 1.1187 – 1.1347 to the upside, which had been holding since June 11. This bullish penetration drove the momentum indicators higher sending the stochastic into the overbought territory and the MACD above its trigger line in the 4-hour chart. Moreover, the 20- and 40-period simple moving averages (SMAs) are moving higher, while the 100-period SMA is still flattening. The three-month high of 1.1421 is [..]

Daily Market Comment – Markets pause to assess risks after leaping higher

Posted on July 7, 2020 at 9:21 am GMT

Currencies and equities in a more cautious mood Tuesday, as China-led euphoria peters out Dollar regains its footing but only mildly, aussie drops after Melbourne goes into full lockdown Risk/reward outlook for ‘risk trades’ seems quite unattractive from here Soaring Chinese stocks lift all boats, but enthusiasm fades Global markets staged a powerful rally to kick off the new week. Stock indices in most regions closed with solid gains while the defensive US dollar edged lower, with no real catalyst [..]

Technical Analysis – EURUSD’s positive tone strengthens

Posted on July 6, 2020 at 7:57 am GMT

EURUSD is tackling the 1.1302 resistance, suggesting that positive sentiment may be picking up in a sideways market that has held since the pullback from the 1.1421 peak. In spite of this pause, the positive picture has managed to remain intact, something also reflected in the Ichimoku lines and the bullish bearing of the 50- and 100-day simple moving averages (SMAs). Additionally, the short-term oscillators sponsor a neutral-to-bullish picture. The MACD, in the positive area, is ready to reclaim its [..]

Week Ahead – Markets torn between conflicting narratives

Posted on July 3, 2020 at 12:48 pm GMT

The coming week looks relatively quiet in terms of crucial events, with the only highlights being the Reserve Bank of Australia (RBA) policy meeting and some economic data out of the US and Canada. As such, the dominant theme that will likely drive both currency and equity markets will be how the global virus picture evolves, particularly in the US, as the epic battle between stimulus-powered bulls and virus-fearing bears rages on. Bears wave the white flag Global markets continue [..]

Daily Market Comment – Record NFP jump overshadowed by US virus surge

Posted on July 3, 2020 at 8:51 am GMT

US economy adds record 4.8 million jobs in June but virus jitters cap risk appetite Stocks pare gains, dollar pulled in opposite directions Rising caution may shift attention back to stimulus as US, EU decisions pending US jobs report smashes forecasts but fails to lift markets The latest nonfarm payrolls report did little to dent expectations of a V-shaped recovery as a record 4.8 million jobs were restored in America in June, beating forecasts of an increase of 3 million. [..]

Daily Market Comment – Dollar stumbles ahead of NFP; vaccine hopes shore up equities

Posted on July 2, 2020 at 8:30 am GMT

Dollar torn between upbeat data and US virus spike; NFP may decide fate Positive vaccine news helps breathe life into flagging stock market rally Gold retreats from highs as markets dismiss US-China tensions Dollar looks shaky as jobs report awaited Markets were mostly in risk-on mode on Thursday as the combination of positive economic indicators and potential coronavirus vaccines kept alive hopes of a strong recovery from the pandemic. But with US markets closed on Friday for Independence Day celebrations, [..]

Technical Analysis – EURUSD’s positive picture consolidates

Posted on July 2, 2020 at 6:30 am GMT

EURUSD has been in a range for a couple of weeks now with the price currently capped by the 100-period simple moving average (SMA) and the 1.1268 level, that being the 23.6% Fibonacci retracement of the up leg from 1.0773 to 1.1421. The stalled Ichimoku lines and the flattened state within the 40- and 100-period SMAs further sponsor a horizontal picture. Although the short-term oscillators are skewed marginally to the upside, it is on the back of weak momentum for [..]

Fed minutes could upset markets – Forex News Preview

Posted on June 30, 2020 at 9:50 am GMT

It’s a packed week in America, where Fed Chairman Powell will testify at 16:30 GMT Tuesday, ahead of the minutes of the latest FOMC meeting at 18:00 GMT Wednesday. The crucial jobs numbers for June will follow Thursday. In a nutshell, the minutes could show a Fed that’s still hesitant towards yield curve control, much like Powell seemed back at that meeting. If so, that might lift the dollar and hurt stocks a little, but in the bigger picture, how [..]

Daily Market Comment – Virus concerns cast aside as upbeat data boosts sentiment

Posted on June 30, 2020 at 8:38 am GMT

Stocks rebound as risk aversion eases on positive data from China and the US But virus worries linger as Australia and the UK impose local lockdowns Dollar heads higher, eyes Powell testimony and more US data Pound hammered by Brexit and virus woes Risk appetite improves on recovery optimism Hopes for a V-shaped recovery were bolstered after encouraging data out of the United States and China over the past 24 hours showed that the growth revival remains on track in [..]

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