EURUSD

European inflation data unlikely to do the euro any favors – Forex News Preview

Posted on September 30, 2019 at 2:31 pm GMT

Preliminary CPI numbers for September out of the euro area will attract attention on Tuesday at 09:00 GMT. Forecasts suggest that inflation rose at the same pace, but the bloc’s weak PMI surveys imply that if there is any surprise in these figures, it may be a negative one. The euro is already trading at multi-year lows, and any disappointment could be the catalyst for further weakness. For this bearish tide to turn, markets may need to see signals for [..]

Daily Market Comment – Trade war goes financial

Posted on September 30, 2019 at 8:59 am GMT

Markets stay in risk-off mode as US considers financial sanctions against China Kiwi drops to new 4-year low after weak business confidence numbers Pound tumbles on hints of BoE rate cut, but may get some relief from politics Sentiment turns sour on fears trade war may spread into finance The main story on Friday was that the Trump administration is examining whether to restrict US financial flows into China. According to reports, Washington is considering delisting Chinese companies from [..]

Week Ahead – RBA expected to cut again; US jobs report and September PMIs in focus too

Posted on September 27, 2019 at 10:30 am GMT

More central bank meetings will follow in the coming week, this time with the Reserve Bank of Australia, while things will heat up a little on the data front as September PMIs are on the agenda, as well as the all-important US jobs report. Although investors have recently pared some of their bleakest outlook for global growth and recession risks have receded somewhat, the incoming data will nevertheless be watched closely as trade tensions could flare up at any moment. [..]

Daily Market Comment – Trade rollercoaster keeps sentiment fragile; dollar climbs

Posted on September 27, 2019 at 8:00 am GMT

Stocks retreat on trade doubts, but short-term outlook still positive Euro weakens amid ECB easing speculation, dollar capitalizes Flood of US data due out today, but trade issues more important for greenback Stocks pull back on reports US is unlikely to extend Huawei waivers Market moves were relatively muted on Thursday, as investors remained hesitant to increase their exposure until they get a better grip on the various risks currently at play, most notably the Trump impeachment threat and the [..]

Technical Analysis – EURUSD unlocks fresh 28-month lows; could lose more

Posted on September 27, 2019 at 7:38 am GMT

EURUSD breached the floor around 1.0925 and stretched the four-month old downward pattern to a fresh 28-month low of 1.0904 on Friday. According to the technical indicators, the pair remains exposed to downside risks in the short-term given the negative slope in the RSI and the falling Stochastics, which have yet to confirm oversold conditions. The focus is now on the 1.0830, a key support and resistance area during 2017. Should the price overcome that barrier, the sell-off could stretch towards the [..]

Daily Market Comment – Dollar soars as impeachment worries fade, trade optimism returns

Posted on September 26, 2019 at 8:35 am GMT

Renewed trade optimism and fading impeachment concerns lift dollar & stocks One of the biggest ECB hawks resigns; Draghi speaks today RBNZ Governor plays down prospect of QE, lifts kiwi Dollar and equities shoot up as Trump says a trade deal may be close Global risk sentiment improved drastically on Wednesday, as a combination of optimistic trade remarks and diminishing fears of a US presidential impeachment saw investors rotate back into riskier assets. The market’s mood started to improve after [..]

US data not a game-changer for dollar, look to trade instead – Forex News Preview

Posted on September 25, 2019 at 11:38 am GMT

Friday will bring a barrage of US data releases, including the latest numbers on durable goods, personal income and spending, as well as the core PCE price index – all for August. Beyond economic data, we will also hear from several Fed officials, notably by Vice Chair Clarida on Thursday. For the dollar though, the most important variable is how the US-China talks unfold in early October, as US monetary policy is inevitably tied to trade policy nowadays. It will [..]

Daily Market Comment – Trump impeachment risk scares stocks; UK Parliament returns

Posted on September 25, 2019 at 8:35 am GMT

Trump impeachment probe dampens sentiment, but is the market overreacting? Pound cheers Supreme Court ruling, but retreats on Corbyn’s remarks RBNZ holds its fire, kiwi briefly spikes higher Risk aversion engulfs markets as Trump faces impeachment enquiry Sentiment in financial markets turned sour on Tuesday, as a double whammy of trade and political risks blindsided investors, triggering a rotation away from riskier assets like equities and towards defensive ones such as the yen and Swiss franc. The initial catalyst [..]

Daily Market Comment – UK Supreme Court decision eyed ahead of RBNZ meeting

Posted on September 24, 2019 at 8:24 am GMT

UK Supreme Court rules at 09:30 GMT whether Parliament’s suspension was lawful – upside risk for sterling? RBNZ rate decision due early on Wednesday; kiwi may briefly spike higher US stocks recover after upbeat manufacturing PMI, but safe havens tell another story UK Supreme Court to rule on Johnson’s suspension of Parliament It will be an eventful day in Britain, as the nation’s Supreme Court will decide whether Boris Johnson’s choice to suspend Parliament for five weeks was lawful, or [..]

Technical Analysis – EURUSD maintains bearish bias; moves lower beneath trendline

Posted on September 23, 2019 at 8:53 am GMT

EURUSD bears moved the pair below the 1.1026 low of August 1 as well as the 1.1000 hurdle, which is the 23.6% Fibonacci retracement level of the down leg from 1.1411 to 1.0925. The price had deflected off the 1.1110 level where the 42-day simple moving average (SMA) merged with the downtrend line, rendering the double bottom pattern obsolete. While the SMAs imply a negative outlook, the momentum indicators concur, with the RSI declining below the neutral level, and the [..]

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