EURUSD

Daily Market Comment – Stocks slide again on second wave fears; Pound skids ahead of Brexit talks

Posted on June 15, 2020 at 8:42 am GMT

A resurgence of coronavirus cases sends stocks into a tailspin again Aussie takes a beating, yen and franc up, but gold unable to capitalize Pound extends losses as Johnson tries to kickstart stalled Brexit talks End of the risk rally? The unstoppable risk rally that’s pushed global stocks close to erasing their virus-led losses is in danger of faltering as fears of a second wave of infections intensify. Several states in America have seen a large increase in the number [..]

Technical Analysis – EURUSD sharply corrects; maintains positive signals

Posted on June 15, 2020 at 7:51 am GMT

EURUSD has retreated sharply under the 1.1269 level – that being the 23.6% Fibonacci retracement of the up leg from 1.0774 to 1.1421 – and the key swing low of 1.1240. Sellers are attempting to extend the pullback, something also displayed in the short-term oscillators. Although deep in the positive region, the MACD has eased below its red signal line, while the RSI is falling in bullish territory. Moreover, the stochastic lines are negatively charged with the %K line reaching [..]

Week Ahead – BoE and Brexit could create perfect storm for pound; BoJ and SNB meet too

Posted on June 12, 2020 at 12:49 pm GMT

An upcoming summit of EU leaders could decide the fate of the European recovery fund and the direction of Brexit talks, setting up possible stumbling blocks for the euro’s and pound’s rebounds. The pound will also be keeping an eye on the Bank of England’s policy meeting, with more QE looking likely. The Bank of Japan’s and Swiss National Bank’s respective meetings are not expected to be as exciting. But as some of the recent optimism starts to fade, it [..]

Daily Market Comment – Markets plummet as second wave fears grip investors

Posted on June 12, 2020 at 8:56 am GMT

Worries of a second infection wave kill the euphoria in markets S&P 500 loses almost 6%, dollar and yen shine again, commodity currencies crumble But risk sentiment back on the mend Friday, with most moves retracing a little Just a mild correction or start of something bigger? Daily virus numbers might decide that Risk aversion returns with a vengeance Just when it seems that all the bears have capitulated and that stock markets can’t bleed anymore, risk sentiment falls apart [..]

Technical Analysis – EURUSD’s bullish hike takes a breather

Posted on June 11, 2020 at 8:05 am GMT

EURUSD’s pullback from the fresh three-month high of 1.1421, looks to be reloading around the 1.1321 swing low. The nearly one-month climb from the 1.0773 mark remains intact, assisted by the Ichimoku lines and the positively charged simple moving averages (SMAs). Glancing at the short-term oscillators, they suggest that positive momentum is strengthening. The MACD, in the positive zone, barely below its red signal line looks to move back above it, while the RSI is improving above the 50 level. [..]

Daily Market Comment – Nasdaq rips higher ahead of Fed decision, dollar in agony

Posted on June 10, 2020 at 8:42 am GMT

No action expected from Fed today, but signals will determine whether the ‘risk party’ can keep going Dollar extends losses ahead of rate decision, Nasdaq hits new record high Sinking greenback raises all other boats – euro, pound, franc, and commodity currencies near highs We’ll also hear from key ECB and BoE officials, and the EU’s top Brexit negotiator Markets take a breather ahead of the Fed Risk appetite cooled a little on Tuesday in a move that generally looked [..]

Daily Market Comment – Stocks back in the black, dollar selling takes a breather

Posted on June 9, 2020 at 10:28 am GMT

S&P 500 recoups all its losses for the year, Nasdaq hits new record Optimism echoed in FX too, with dollar struggling as commodity currencies hit multi-month highs However, we are seeing a reversal of these moves today – some profit taking? Looking ahead, much will depend on what the Fed does and whether a second wave hits the US S&P turns flat for 2020, Nasdaq cruises to new highs Fear has given way to greed in an impressive way over [..]

Week Ahead – Recovery hopes to remain front and centre as Fed to sit out June meeting

Posted on June 5, 2020 at 1:07 pm GMT

As global markets set their sights on a quick recovery from the COVID-19 crisis, key economic data for April – when the pandemic impact is thought to have peaked – will likely be sidelined next week. The Federal Reserve might also struggle to attract the usual attention when it holds a scheduled meeting as investors are not anticipating any new policy action. But as safe havens like the dollar and yen give way to virus-battered currencies, there are plenty of [..]

Daily Market Comment – Euro soars after ECB’s surprise; dollar extends slide ahead of NFP

Posted on June 5, 2020 at 8:31 am GMT

Euro skyrockets after ECB increases pandemic stimulus by more than expected Dollar stuck in a downward spiral, unlikely to be saved by US jobs report Oil clings on to gains despite OPEC confusion ECB takes out the bazooka again The resurgent euro, which has been rallying on the back of recovery hopes for the Eurozone economy, got another shot in the arm on Thursday after the European Central Bank delivered a bigger-than-expected stimulus. The ECB boosted its pandemic emergency purchase [..]

Technical Analysis – EURUSD shines at summer highs after ECB presses the stimulus button

Posted on June 5, 2020 at 7:36 am GMT

EURUSD extended Thursday’s rocket rally to a fresh three-month high of 1.1376 after the ECB pushed the stimulus button more strongly than expected and is now set to claim its third consecutive weekly gain. In the short run, the bulls could remain in charge, but it seems that there are a few key obstacles which they need to clear first to confirm another smooth winning race. Particularly, they should close comfortably above the 200 simple moving average (SMA) at 1.1335 [..]

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