EURUSD

Daily Market Comment – Gold levitates higher, Wall Street and dollar retreat

Posted on December 31, 2019 at 9:31 am GMT

Gold freight train rolls past $1520, fueled by decline in dollar & Treasury yields US stocks pull back despite positive trade news – will Trump target the EU next? Have a great New Year! Gold extends gains on weaker dollar, lower yields A broad-based decline in the US dollar remains the dominant theme in the holiday-thinned FX market, even in the absence of any noteworthy headlines. The retreat in the greenback is ‘lifting all boats’, with the New Zealand dollar [..]

FX Year Ahead 2020: Turnaround or same old blues? – Special Report

Posted on December 30, 2019 at 3:33 pm GMT

While 2019 was a turbulent year to be sure, every asset class still managed to end in the green, mainly thanks to central bank stimulus. In the FX space, the winners were the Canadian dollar and British pound, the US dollar was almost flat, while the euro underperformed. Looking into 2020, many risks still hang over the euro as the Eurozone is hardly growing, and while many strategists are calling for the dollar’s demise, that seems unlikely unless the Fed [..]

Technical Analysis – EURUSD bulls may pick up steam if the 1.1200 door is opened

Posted on December 30, 2019 at 9:54 am GMT

EURUSD is set to extend its October uptrend to fresh highs after registering a new higher low around the 1.1072 barrier, boosting optimism that the bullish pattern may have a continuation. The RSI and the MACD favor the positive sentiment too, as the indicators are sloping upwards in the bullish area. Still, the 1.1200 barrier, which is the 61.8% Fibonacci retracement of the 1.1411-1.0878 downleg, should leave the door open for the rally to stretch up to the 78.6% Fibonacci of 1.1297. [..]

Daily Market Comment – Year end flows hit dollar, but gold can’t capitalize

Posted on December 30, 2019 at 9:49 am GMT

Greenback takes a hit in thin markets – a prelude to 2020? Gold unable to take advantage of weaker dollar and lower US yields Calendar empty, scarce liquidity still a theme No news is bad news for the US dollar News flow in financial markets remains non-existent as things wind down heading into the New Year, but that hasn’t stopped investors from cutting their exposure to the US dollar, which continues to bleed amid year-end flows. Many argue that [..]

Week Ahead – Focus on manufacturing PMIs in subdued holiday week

Posted on December 27, 2019 at 2:01 pm GMT

The economic calendar will only marginally get busier in the coming week and trading volumes are not expected to pick up much as New Year celebrations get underway. However, key manufacturing gauges out of China and the United States could spoil the festive rally in equities as trade deal optimism continues to support risk assets heading into 2020. Meanwhile, in FX markets, the threat of another flash crash similar to the one seen in January 2019 will likely keep traders [..]

Daily Market Comment – Wall Street hits new highs for Christmas; gold gains too

Posted on December 24, 2019 at 9:21 am GMT

Dow Jones lifted by Boeing, aussie and kiwi follow stocks higher Sterling edges lower as Brexit worries persist Gold does its own thing again – swims against the risk-on tide US stocks close at fresh records; aussie and kiwi climb as well Another day, another record close for all three major US equity indices, this time with the Dow Jones (+0.34%) leading the pack. The price-weighted index was propelled higher by some gains in Boeing (+2.9%), which has the highest [..]

Daily Market Comment – Dollar recovers some poise, stocks hit new records

Posted on December 23, 2019 at 9:51 am GMT

Solid US data propel equities higher alongside the greenback Loonie stumbles as retail sales plunge, oil prices pull back Liquidity may remain thin overall, so any piece of news – or a tweet – might shake markets Dollar rebounds in quiet markets; stock rally in full swing It was a relatively quiet session in the FX market on Friday, as things started to wind down for the holiday season and news flow was thin. The overarching theme was an increased [..]

Technical Analysis – EURUSD upside stalls at 1.1178; short-term bias neutral-to-bearish

Posted on December 23, 2019 at 7:58 am GMT

EURUSD could not reactivate it’s two-month old upside direction that stuck around the 1.1178 area as the 200-day simple moving average (SMA) proved hard to overcome last week. Even though the price spiked above the line, registering a fresh high at 1.1198, the bears retook control, driving the market back into the 1.100 territory. Currently, the pair is pushing efforts to rebound near the 1.1072 key barrier and its 20- and 50-day SMAs but the RSI and the MACD have [..]

Week ahead – Markets to enter holiday lull, but mind the volatility risk

Posted on December 20, 2019 at 1:34 pm GMT

As 2019 draws to a close, markets are set to enter a quiet period over the next couple of weeks, with no central bank meetings on the agenda and little economic data to keep traders entertained. That doesn’t mean that everything will be calm though, as liquidity will probably be very thin, making sharp price moves possible even without much news. US durable goods orders on the dollar’s sleigh In the world’s biggest economy, the sole data release will be [..]

Daily Market Comment – Dollar shrugs off Trump impeachment; aussie jumps on upbeat jobs data

Posted on December 19, 2019 at 9:03 am GMT

Dollar unfazed from US House vote to impeach Trump, edges up on higher Treasury yields Aussie and kiwi bounce higher on better-than-expected domestic data; loonie also firmer Pound steadier ahead of Bank of England decision President Trump is impeached; markets don’t care President Trump became the third president in the history of the United States on Wednesday to be impeached after the House of Representatives, as expected, approved two charges against him for abuse of power and obstruction of [..]

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