EURUSD

Daily Market Comment – Stocks edge up as earnings get underway amid stabilizing virus cases

Posted on April 14, 2020 at 8:24 am GMT

Stocks head higher as easing virus outbreak lifts mood But risk of over-optimism as US earnings poised to unveil virus hit Pound and aussie extend gains as dollar retreats Is the global pandemic peaking? Cautious optimism that the global pandemic of the coronavirus may have started to peak pulled global equities higher on Tuesday just as traders are about to find out what the impact of the outbreak was on corporate earnings. Stocks in Asia ended the day between 1-3% [..]

Daily Market Comment – OPEC cuts, but oil and stocks don’t ‘buy it’

Posted on April 13, 2020 at 8:33 am GMT

OPEC+ agrees to an almost 10 million barrels/day supply cut Oil opens higher, but surrenders most gains as compliance doubts set in Stocks turn red, yen and gold inch higher in holiday-thinned trading OPEC cuts, but oil can’t stay afloat The world’s biggest oil producers finalized a historic deal to cut their production over the weekend, in an attempt to stabilize a market that has been ravaged by collapsing demand. After a few hiccups with Mexico, OPEC and its allies [..]

Technical Analysis – EURUSD in confusion between broken trendlines

Posted on April 13, 2020 at 7:30 am GMT

EURUSD is in a state of confusion on the daily chart as the pair shows no clear direction, moving instead back and forth between two broken trendlines that seem to have regained some credibility over the past two weeks. Currently, the momentum indicators are reflecting a neutral-to-positive bias for the short-term as the RSI is pushing efforts to climb above its 50 neutral mark, while the stochastics and the MACD continue to strengthen northwards. A break above the 38.2% Fibonacci retracement of the latest [..]

Week Ahead – China to reveal virus damage on GDP as markets cling onto optimism

Posted on April 10, 2020 at 11:57 am GMT

As much of the world is stuck in a lockdown, one country where life has started to return to normal will shed some light on the toll of the virus outbreak on its economy as China reports GDP growth estimates. The data could either spread misery or provide a glimmer of hope to those countries still heavily stricken by the coronavirus. US indicators will also be scrutinized as March numbers for retail sales and industrial production are released. But aside [..]

Technical Analysis – EURUSD consolidates as momentum evaporates; may flirt with 1.0925

Posted on April 9, 2020 at 8:53 pm GMT

EURUSD appears to be restricted by the 100-period simple moving average (SMA) after finding some support from the mid-Bollinger band around the 1.0838 level, that being the 23.6% Fibonacci retracement of the down leg from the 13-month high of 1.1496 to the multi-year low of 1.0635. The directionless pair is currently confined within a near-term range between 1.0925 and 1.0768. This is also reflected in the flat 200-period SMA and the short-term oscillators, which display a neutral picture of vanished [..]

Daily Market Comment – Oil firms as OPEC hypes deal, stocks cheer

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

Hopes for a production-cut deal by OPEC today catapult oil higher Deal will likely get done, yet any positive reaction in oil may be short lived Stocks climb with crude, but watch out for US jobless claims today Euro will stay tuned to the Eurogroup meeting – are Eurobonds on the menu? Oil jumps on signs a deal is near, but caution warranted The energy market has come back into the spotlight ahead of the meeting between OPEC and Russia [..]

Technical Analysis – EURUSD consolidates as momentum evaporates

Posted on April 9, 2020 at 8:50 am GMT

EURUSD appears to be restricted by the 100-period simple moving average (SMA) after finding some support from the mid-Bollinger band around the 1.0838 level, that being the 23.6% Fibonacci retracement of the down leg from the 13-month high of 1.1496 to the multi-year low of 1.0635. The undecided pair is currently confined within a near-term range between 1.0925 and 1.0768. This is also reflected in the flat 200-period SMA and the short-term oscillators, which display a neutral picture of vanished [..]

US jobless claims to show pain, but dollar might like that – Forex News Preview

Posted on April 8, 2020 at 10:26 am GMT

In America, the spotlight will be on Thursday’s weekly jobless claims and consumer confidence numbers, which will reveal how quickly unemployment is rising and how badly the consumer has been hit. Contrary to conventional wisdom though, a disappointing set of data could boost the US dollar, which has been acting like a safe haven amid all the chaos. The minutes of the latest FOMC meeting today and CPI inflation stats on Friday might be seen as outdated. Unemployment: A tragedy [..]

Daily Market Comment – Euro rebound falters as EU rejects Eurobonds; stocks go nowhere

Posted on April 8, 2020 at 8:50 am GMT

Euro surrenders some gains as EU fails to agree coordinated fiscal plan Besides euro, US stock futures also retreat on Eurobond disappointment Has the bear market rally gone too far? Oil crumbles as doubts about production cuts set in – even if they cut, it won’t be enough Eurobonds get a cold reception, euro struggles The Eurozone’s institutional deficiencies came back on the market’s radar today, after a lengthy meeting of the bloc’s finance ministers ended without an agreement [..]

Virus containment could spell trouble for the dollar – Special Report

Posted on April 7, 2020 at 2:18 pm GMT

It didn’t take long for the US dollar to reclaim its crown as king of currencies after a brief but sharp sell-off in late February. An acute shortage of dollars across global markets, driven by a panic rush for cash as the virus turmoil deepened, has bolstered the US currency’s safe haven status. But amid some tentative signs of a possible levelling-off in the rise of new infected cases, is there a risk of the dollar falling off a cliff? [..]

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