EURUSD

Daily Market Comment – Dollar steadier after US data boost; stock market rally cools

Posted on November 6, 2019 at 9:18 am GMT

US dollar surges on strong ISM non-manufacturing PMI before steadying Stocks get off to softer start as trade deal euphoria starts to fade Euro pressured by stronger dollar; kiwi up despite disappointing jobs numbers Dollar hits 3-week high on upbeat PMI Better-than-expected economic data and optimism that the US and China are nearing a ‘phase one’ trade deal lifted the US dollar to the highest in three weeks against a basket of currencies on Tuesday. The dollar index reached a [..]

Technical Analysis – EURUSD cautiously bullish; capped by 200-day SMA

Posted on November 4, 2019 at 10:15 am GMT

EURUSD sellers are in the process of halting buyers’ efforts to push above 1.1179 – which is the fresh swing high of October 21, following a three-week ascent – to retest the 200-day SMA. The short-term has shifted into what looks like a neutral market, something also backed by the flat Tenkan-sen and Kijun-sen lines. However, the positive momentum in the technical indicators is still intact but slightly reduced. The RSI, currently in bullish territory, is sloping slightly downwards. The [..]

Daily Market Comment – Trade optimism lifts markets; strong NFP helps too but dollar subdued

Posted on November 4, 2019 at 9:16 am GMT

US and China reportedly close to agreeing a ‘phase one’ trade deal; stocks rally Safe havens retreat but still some caution, dollar subdued Euro eyes Lagarde speech Interim US-China trade deal within reach Growing signs that the partial US-China trade deal is close to being finalized drove market sentiment on Monday with Asian stocks getting a lift from another record close on Wall Street on Friday. The White House economic advisor Larry Kudlow told reporters on Friday that “enormous progress” [..]

Week Ahead – RBA to hold rates but BoE could signal policy shift; trade and services PMIs in focus

Posted on November 1, 2019 at 11:46 am GMT

As the Fed and the ECB signal they may be done with policy easing for now, the Reserve Bank of Australia may follow suit, but the Bank of England could be a late joiner to the easing club. Apart from the next wave of central bank meetings, monthly trade statistics will come to the fore with China’s figures likely to attract the most attention, while employment numbers out of Canada and New Zealand will also be eyed. Meanwhile, over in [..]

Daily Market Comment – Dollar braces for nonfarm payrolls; risk aversion returns

Posted on November 1, 2019 at 9:25 am GMT

US payrolls and ISM index could shape the dollar’s fortunes today Risk appetite dampened by reports China won’t compromise on ‘real’ trade issues Can US payrolls keep the besieged dollar from stumbling further? The spotlight today will fall on the US employment report for October, as investors scramble to figure out whether the Fed can truly afford to ‘pause’ its rate-cutting cycle, or whether that is merely wishful thinking. Likewise, the ISM manufacturing PMI for the same month will reveal [..]

US nonfarm payrolls: More than meets the eye? – Forex News Preview

Posted on October 31, 2019 at 12:59 pm GMT

With the Fed having cut rates again, the focus now turns to the US employment data that are due on Friday at 12:30 GMT. The ISM manufacturing PMI for October will follow at 14:00 GMT. Given some one-off factors, the risks surrounding the dollar from the jobs data seem tilted to the upside, as any disappointment may be viewed as a transitory phenomenon. The broader picture looks positive too, despite the recent pullback. The US economy continues to lose its [..]

Daily Market Comment – Dollar goes for a ride as Fed baffles markets

Posted on October 31, 2019 at 10:58 am GMT

Dollar ends lower, stocks soar as Fed can’t convince markets it will hit ‘pause’ Loonie hammered as BoC drops neutral stance, hints at ‘insurance cut’ BoJ strengthens easing bias, but yen yawns Eurozone, US, and Canadian data coming up today Fed cuts rates and signals a pause, but markets don’t buy it The Fed cut rates by another quarter-point yesterday, as widely expected, but refrained from signaling that any more cuts are coming. The phrase “will act as appropriate to [..]

Eurozone Q3 GDP growth and inflation to challenge euro’s rebound – Forex News Preview

Posted on October 30, 2019 at 4:17 pm GMT

Just before the second round of quantitative easing (QE) starts on November 1, the Eurozone’s preliminary GDP growth figures for the third quarter and October’s initial inflation estimates will likely show on Thursday at 10:00 GMT that monetary stimulus is much needed as the data are forecast to come in softer. Despite the ECB lowering its deposit rate to -0.5% in September and announcing the start of a new asset purchase program that should boost liquidity in the banking sector [..]

Daily Market Comment – Fed, BoC, and BoJ decisions; UK election confirmed

Posted on October 30, 2019 at 9:22 am GMT

Fed to slash rates today but may signal a pause after this cut, lifting the dollar BoC set to stand pat, unlikely to alter its neutral stance BoJ decides early on Thursday – close call whether it will cut UK General Election officially called for December 12 Fed virtually certain to cut rates, but will it also signal a pause? It’s an extremely busy day, with the main event being the Federal Reserve policy decision at 18:00 GMT, which will [..]

Daily Market Comment – Stocks ride high on trade optimism; Boris to try again for snap election

Posted on October 29, 2019 at 9:13 am GMT

Trade progress drives S&P 500 to record high but global rally loses steam Pound choppy after EU extension as Johnson struggles to trigger a general election Dollar steady ahead of expected Fed rate cut Trump says Phase One deal is “ahead of schedule” Market sentiment was boosted on Monday after US President Donald Trump signalled an interim trade deal was close. Speaking to reporters yesterday, Trump said “We are looking probably to be ahead of schedule to sign a very [..]

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