EURUSD

Daily Market Comment – Mixed trade signals leave currencies rangebound; euro jolted by flash PMIs

Posted on November 22, 2019 at 9:20 am GMT

Conflicting trade signals by China and the United States confuse markets Loonie surges after BoC’s Poloz dampens rate cut expectations; retail sales eyed next Euro spikes higher, then falls on flash Eurozone PMIs Major pairs set to end week little changed Markets were overcome by trade news fatigue on Friday as days of conflicting messages on the state of the US-China talks left most investors none the wiser about whether a partial trade deal was still possible. The dollar index, [..]

Euro area PMIs: It’s a struggle – Forex News Preview

Posted on November 21, 2019 at 1:17 pm GMT

In the euro area, preliminary PMIs for November are due out at 09:00 GMT on Friday. The French and German numbers will be released a few minutes earlier, so any market reaction could begin with those. Forecasts point to an uptick in all figures, but even if those estimates are met, that would still point to stagnant growth. The outlook for the euro therefore remains bleak, not least because Germany avoiding a recession means that no meaningful fiscal stimulus will [..]

Daily Market Comment – Stocks slide as trade deal doubts grow; yen holds firm

Posted on November 21, 2019 at 9:37 am GMT

Fears grow that a ‘phase one’ trade deal between the United States and China might be delayed Row over Hong Kong adds to complications in talks as China plays down disagreement Stocks under pressure, yen and gold extend gains Oil eases on trade woes following surge from US inventories and Russia output pledge Reports of a delay in ‘phase one’ deal keeps risk aversion elevated Markets maintained a cautious mood on Thursday as conflicting reports about where the US-China [..]

Daily Market Comment – Yen and gold creep higher on trade nerves; Fed minutes eyed

Posted on November 20, 2019 at 9:31 am GMT

Increased caution on US-China trade talks gives rise to safe-haven demand Hong Kong tensions cast cloud over trade progress as US Senate bill angers China Pound pressured after Johnson-Corbyn televised debate Mixed signals on trade talks put a lid on risk appetite Risk sentiment soured slightly on Wednesday as investors grew wary about the possibility of the United States and China striking a partial trade deal in the coming weeks. The renewed caution comes amid growing tensions between the two [..]

Fed minutes: Letting the economy run hot? – Forex News Preview

Posted on November 19, 2019 at 2:19 pm GMT

The next market-moving release for the dollar will be on Wednesday at 19:00 GMT, when the Fed releases the minutes of its latest meeting, where rates were cut again but the central bank signaled that it will pause its easing cycle. Back then, Chairman Powell hinted that the Fed may be willing to let the economy ‘run hot’, a confirmation of which in the upcoming minutes may hurt the dollar somewhat. That said, the currency’s broader outlook still seems positive. [..]

Daily Market Comment – Trump teases negative rates, spooks dollar

Posted on November 19, 2019 at 9:24 am GMT

Dollar drops as Trump meets Powell to discuss interest rates and FX US stocks shrug off negative trade headlines, claim new record highs Aussie pulls back after RBA minutes, but recovers Dollar retreats as Trump discusses negative rates with Powell Fed Chairman Jay Powell met with President Donald Trump on Monday to discuss the economy. The latter then tweeted out that the conversation centered around how high US interest rates are relative to other advanced economies, the prospect of negative [..]

Technical Analysis – EURUSD looks bearish despite recent bounce off 23.6% Fibonacci

Posted on November 18, 2019 at 10:02 am GMT

EURUSD is trying to push over the upper boundary of the Ichimoku cloud at 1.1063 after the drop on November 4 bounced off the 1.1005 support, which is the 23.6% Fibonacci retracement of the down leg from 1.1411 to 1.0878. However, the bearish crossover by the downward sloping Tenkan-sen line leans toward a down move, while the turn back down in the 20-day simple moving average (SMA) reinforces the bigger negative picture. The short-term oscillators are still in the negative [..]

Daily Market Comment – Markets stay in a risk-on mood; pound climbs

Posted on November 18, 2019 at 9:48 am GMT

Stock markets climb, safe havens drop as trade optimism lingers Sterling pushes higher as Brexit Party stands down – focus remains on election polls Dollar ticks down after mixed retail sales, but broader picture still promising US stocks to open at yet another record high; yen retreats Risk appetite remained firm at the end of last week, with all three of the major US stock indices closing at new records, after a high-ranking White House official played up the prospect [..]

Week ahead – Fed minutes and European PMIs highlight a calm week

Posted on November 15, 2019 at 1:52 pm GMT

The economic calendar is relatively light next week, with the most crucial release being the euro area’s preliminary PMIs, which will reveal whether growth is headed for a contraction in Q4. In America, the minutes of the latest Fed meeting could add some color around the decision to hit ‘pause’ on rate cuts and clarify if the Fed intends to let the economy run hot. In the broader market, risk appetite will be driven by trade news, where the mood [..]

Daily Market Comment – Stocks storm to new highs on more trade euphoria

Posted on November 15, 2019 at 9:37 am GMT

US equities claim new highs on trade hopes, but the FX market is doubtful Dollar braces for retail sales figures today Trump could announce his decision on EU car tariffs any moment US stocks to open at new records as Kudlow hypes ‘phase one’ deal Another day, another record high for US equity markets. Futures point to a notably higher open on Wall Street today, the S&P 500 expected to gain 0.45%, after Larry Kudlow – one of Trump’s closest [..]

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