EURUSD

Technical Analysis – EURUSD neutral in short-term but still bearish in medium-term

Posted on April 29, 2020 at 6:29 am GMT

EURUSD has been trading within a symmetrical triangle formation since March 20, with a break outside it likely to determine the next trend direction. Moreover, the price rebounded after it found support near the uptrend line and the 1.0730 support, enhancing the argument that the picture may not be entirely negative at the moment in the very short-term. Technically, the price surpassed the 20- and 40-period simple moving averages (SMAs), entering the Ichimoku cloud. The stochastic oscillator is heading north [..]

Eurozone GDP set to shrink, pile pressure on ECB as EU dithers on virus aid – Forex News Preview

Posted on April 28, 2020 at 2:00 pm GMT

With Europe’s biggest economies shutting down in March as the coronavirus wreaked havoc across the continent, no one is expecting the Eurozone’s first quarter GDP estimate due on Thursday (09:00 GMT) to be anything but abysmal. But just as in previous crises, it is the European Central Bank that has been first to come to the rescue and with European Union leaders still bickering over the details of a virus recovery fund, it will be up to Lagarde and her [..]

Fed meeting: Taking a breather – Forex News Preview

Posted on April 28, 2020 at 10:40 am GMT

The Fed concludes its meeting at 18:00 GMT on Wednesday and having thrown everything including the kitchen sink to protect the US economy in the battle against the virus, no action is expected this time. As such, the market reaction may depend mainly on Chairman Powell’s remarks half an hour later. From a risk-management perspective, Powell has more incentive to soothe investors’ nerves and hint that more stimulus is possible, which could briefly hurt the dollar. Preventing a financial crisis [..]

Daily Market Comment – Oil plunges again despite lockdown exits; gold down too

Posted on April 28, 2020 at 8:34 am GMT

Threat of another crash in oil prices after biggest oil ETF dumps holdings in June contracts But markets otherwise enjoying a rare calm as lockdown measures are slowly relaxed Stocks and dollar hold steady but gold and kiwi skid Oil’s woes persist as WTI plunges WTI oil futures are on track for a second day of hefty losses as the commodity remains heavily pressured after the biggest oil exchange-traded fund (ETF) yesterday said it plans to sell all its WTI [..]

Technical Analysis – EURUSD rebounds on minor ascending line; lacks direction

Posted on April 27, 2020 at 9:33 am GMT

EURUSD has been trading within a triangle pattern over the last seven weeks after it hit a 13-month peak slightly below the 1.1500 handle. The price is currently touching the upper boundary of the formation, while not far above the 20-day simple moving average (SMA) is also located. Looking at the technical indicators, the MACD although below its red trigger line, has eased negative momentum, while the RSI also looks to be improving within the bearish area, approaching the threshold of 50. Both are moving towards their [..]

Daily Market Comment – Dollar slips as lockdown easing spurs risk-on; BoJ ramps up stimulus

Posted on April 27, 2020 at 8:43 am GMT

Dollar pressured as euro, pound and aussie charge higher on possible relaxation of lockdowns Stocks edge higher too but oil plunges again Bank of Japan pledges unlimited QE; focus moves to Fed and ECB Light at the end of the lockdown tunnel? It was a buoyant start to the week as signs that the draconian lockdowns that have paralysed major economies around the world are about to be loosened lifted risk appetite. The US dollar, which has been the safe [..]

Week Ahead – Fed, ECB and BoJ meet ahead of GDP data; can central banks do any more?

Posted on April 24, 2020 at 12:31 pm GMT

It’s been a hectic couple of months for central banks around the world as most have held at least one unscheduled meeting as the virus crisis unfolded. Hence, next week’s regular gatherings by the Federal Reserve, European Central Bank and the Bank of Japan may not bring anything new, as aside from the interim meetings, policymakers have been keeping the communications channels wide open and so the possibility of major surprises appears slim. Nevertheless, markets may need the soothing words [..]

Daily Market Comment – Drug disappointment burns stocks; Euro crumbles

Posted on April 24, 2020 at 9:06 am GMT

Equities turn red after would-be miracle drug Remdesivir fails clinical trial Euro dives as EU drags feet on recovery fund, disagrees on debt sharing Yen pares gains on reports BoJ will ramp up stimulus next week Oil extends bounce, but rebound likely fragile Virus-drug disappointment bites stocks A rally in global stock markets faltered yesterday, with the S&P 500 giving up early gains to close practically flat and futures pointing to more pain on Wall Street today, following headlines that [..]

Daily Market Comment – Trump threatens war with Iran, lifts oil

Posted on April 23, 2020 at 9:02 am GMT

Trump turns up the aggression with Iran, oil likes it But unlikely that this is a sustainable rebound Euro suffers after terrifying PMIs, awaits EU leaders meeting Stocks recover, yet safe havens thrive too Oil prices recover as Trump rattles sabers with Iran All the troubles in the oil market were magically resolved by a single tweet from the US President yesterday, who said that he instructed the US Navy to destroy any Iranian gunboats harassing American ships at sea. [..]

Daily Market Comment – Oil carnage spreads to stocks

Posted on April 22, 2020 at 9:22 am GMT

Oil price collapse continues, sending shivers through stock markets Trump signals bailouts for US producers, but paradoxically, that could worsen oil’s plunge Dollar pares gains after Trump’s bailout talk, pound softens on Brexit comments Euro in focus as investors flee Italian bonds before tomorrow’s EU summit Trump hints at bailouts as oil crumbles Energy markets can’t catch a break, with Brent following WTI lower this time to touch a low last seen during the Gulf war, as the devastation in [..]

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