EURUSD

Technical Analysis – EURUSD bounces off 34-month low; nearby resistance may be more durable

Posted on February 24, 2020 at 8:19 am GMT

EURUSD finally found some footing around a 34-month low of 1.0777 last week following the heavy sell-off from the beginning of the month, with the price strengthening towards the 1.0800 territory on Friday. The rebound, however, has not convinced traders yet that it is long lasting as the price could not clear the 1.0862-1.0888 resistance area that kept the bulls under control last week. This is also where the 23.6% Fibonacci of the downleg from 1.1238 to 1.0777 is located. Technically, the pair [..]

Week Ahead – Virus risks to set market tone in muted data week

Posted on February 21, 2020 at 1:52 pm GMT

With not much on the economic calendar to enthuse markets next week, the virus and its impact on economies globally is likely to remain the primary driver of risk sentiment. Still, there are some important indicators worth keeping an eye on. Overall, there’s little to suggest that the dollar’s relentless rally is about to end, as the US economy is much better positioned than its rivals to weather any slowdown in China. That said, the more the dollar climbs, the [..]

Daily Market Comment – Dollar and gold shine but yen subdued as virus cases spike again

Posted on February 21, 2020 at 9:23 am GMT

Flight to safety boosts dollar and gold, yen nurses losses as new virus cases jump again Risk aversion finally reaches equity markets as global stocks stumble All eyes on flash PMIs as virus outbreak shows no sign of abating Dollar holds firm; gold hits fresh 7-year highs The risk-off mood deepened on Friday as China reported another spike in new confirmed cases of the coronavirus, most of which were in two prisons in Hubei province. But investors were also spooked [..]

Will Eurozone PMIs add fuel to the euro’s carnage? – Forex News Preview

Posted on February 20, 2020 at 10:16 am GMT

Preliminary PMI data out of the Eurozone will hit the markets on Friday at 09:00 GMT. Forecasts point to a mild decline in both the manufacturing and services indices, as concerns around the virus damage in China may have started to infect European business sentiment. As for the devastated euro, it’s difficult to see what can turn its fortunes around outside of a big fiscal spending package, which is not on the horizon. When the levee breaks The past few [..]

Daily Market Comment – Yen slumps, dollar reigns supreme as virus fears persist

Posted on February 20, 2020 at 9:24 am GMT

Yen tumbles on virus worries as investors seek safety elsewhere; dollar surges Virus spread slows but change in counting methodology casts doubt Aussie and kiwi extend slide on growth concerns Is yen losing its safe-haven status? The Japanese yen came under attack on all fronts on Wednesday, sending the safe-haven currency plunging against all its peers, even against the beleaguered euro and pound. The biggest beneficiary of the yen sell-off was the US dollar, which scaled a near 10-month peak, [..]

Daily Market Comment – Stocks rebound as new virus cases slow; dollar stands tall

Posted on February 19, 2020 at 9:23 am GMT

Equity markets bounce back from Tuesday’s slide amid slowdown in new coronavirus cases Stimulus hopes also help sentiment but gold still tops $1600 on heightened risks Unstoppable dollar scales fresh highs even as US yield curve inverts Stocks turn green again as investors focus on positives Risk appetite recovered somewhat on Wednesday following the knock from Apple’s profit warning yesterday, which elevated concerns about the impact from the coronavirus outbreak. The number of new confirmed cases of coronavirus in China [..]

Fed minutes unlikely to derail dollar’s relentless rally – Forex News Preview

Posted on February 18, 2020 at 2:49 pm GMT

The minutes of the latest Federal Open Markets Committee (FOMC) meeting will be released on Wednesday at 19:00 GMT. Nothing much happened or was said back then, so the minutes are unlikely to contain any major policy signals. Instead, investors might look to the preliminary PMIs for February that are due on Friday for clues on whether virus uncertainty has started to infect America too. As for the dollar, there’s nothing on the horizon to suggest the explosive uptrend is [..]

Daily Market Comment – Apple profit warning rattles markets; gold edges up

Posted on February 18, 2020 at 9:34 am GMT

Apple Inc says it will miss revenue guidance due to China plant shutdown Stocks slide as Apple warning dashes hopes of quick rebound from virus fallout Gold hits 2-week high, oil declines on growing virus impact Pound under pressure as Britain talks tough on future trade deal with EU Markets get dealt reality check by Apple profit warning US tech giant, Apple Inc, issued a rare profit warning on Monday, saying it will miss its first quarter revenue guidance as [..]

Technical Analysis – EURUSD cautiously bearish; forms inverted hammer

Posted on February 17, 2020 at 9:43 am GMT

EURUSD appears to have slowed slightly – with the development of an inverted hammer pattern – ahead of the April 2017 gap of 1.0820 – 1.0777 following a descent, which deflected off the 50-day simple moving average (SMA) around 1.1095. The short-term oscillators, although still negative, are showing a marginal increase in positive momentum. The MACD is deep in the negative region and below its red trigger line, though smoothing slightly, while the RSI has made a minor improvement in [..]

Daily Market Comment – Virus risks persist but China stimulus cheers markets

Posted on February 17, 2020 at 9:15 am GMT

Shares in China soar after central bank cuts rates, injects cash and government pledges tax cuts But Japanese stocks struggle as recession fears grow after Q4 GDP drop Dollar holds firm despite mixed data but quiet day ahead as US markets closed China pumps more stimulus as no sign yet of virus peaking Asian stocks were boosted on Monday as Chinese authorities intervened to prop up markets with little evidence so far that the coronavirus outbreak is easing. The People’s [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.