EURUSD

Daily Market Comment – Euro reels after dismal PMIs, but don’t panic yet

Posted on September 23, 2019 at 8:26 am GMT

Euro drops after German PMIs suggest recession ahead – but there may be good news there too Trump’s trade remarks dampen risk appetite Oil prices jump on reports that Saudi output may be offline for longer Euro reels as preliminary PMIs paint a gloomier picture The single currency is on the back foot early on Monday, following the release of the preliminary French and German PMIs for September, which signaled that more pain lies ahead for the European economy. All [..]

Week ahead – RBNZ meets, but geopolitics may steal the show

Posted on September 20, 2019 at 1:13 pm GMT

The Reserve Bank of New Zealand (RBNZ) will be the sole major central bank that meets next week, but there’s a flood of economic data to keep traders busy – most importantly the euro area’s preliminary PMIs due on Monday. Beyond these, markets will also keep a close eye on the geopolitical arena as tensions in the Middle East continue to boil, and any serious escalation threatens to impact not only oil prices but global risk appetite too. European PMIs [..]

Eurozone flash PMIs to hold steady, unlikely to knock euro out of range – Forex News Preview

Posted on September 20, 2019 at 1:12 pm GMT

The preliminary readings for the September PMIs are due out of the Eurozone on Monday at 08:00 GMT. The data will be closely watched as there have been some signs that business confidence has started to perk up lately, albeit only moderately. And with the European Central Bank unlikely to turn on the stimulus taps again anytime soon following its contentious decision to restart QE, the euro could easily be buoyed from further improvements in economic sentiment. Is a growth [..]

Daily Market Comment – US funding squeeze haunts Fed ahead of rate decision; dollar slips

Posted on September 18, 2019 at 8:19 am GMT

US short-term rates jump on liquidity shortage in money markets, forcing Fed to step in FOMC decision awaited after market stress prompts speculation of balance sheet action Oil sharply reverses gains after Saudis pledge quick return to full output Calm returns to US money markets The US Federal Reserve carried out its first overnight repo operation since the financial crisis after short-term borrowing costs surged to 10% on Tuesday. The spike was caused by a funding squeeze brought on by [..]

Fed decision: A rate cut with a not-so-dovish spin? – Forex News Preview

Posted on September 17, 2019 at 11:10 am GMT

The Fed is almost certain to slash rates by a quarter-point at 18:00 GMT on Wednesday. With such an action nearly fully priced in already, the market reaction may depend mainly on the rate projections in the new ‘dot plot’ and Chairman Powell’s remarks during the press conference. Considering the more tranquil tone on trade lately and stocks being near record highs, the risks seem tilted towards Powell putting a not-so-dovish spin on any cut, which may help the dollar [..]

Daily Market Comment – Oil eases but stocks remain pressured; dollar edges up as focus turns to Fed

Posted on September 17, 2019 at 8:24 am GMT

Oil prices fall back slightly as imminent risk of war recedes, but tensions remain elevated US dollar in demand ahead of Fed decision; heightened tensions provide support Aussie slips after RBA minutes leave door open to another near-term rate cut Oil markets calmer but tensions high Crude oil prices moderated slightly on Tuesday as the United States and Japan pledged to release their countries’ oil reserves if needed, while President Trump said he’d like to “avoid” going to war with [..]

Technical Analysis – EURUSD trapped under resistance trend-line

Posted on September 16, 2019 at 7:12 am GMT

EURUSD managed to quickly recover from 28-month lows last week but once again the bulls did not have the strength to close above the down-trending line drawn from the 1.1411 peak. The short-term bias is now looking neutral-to-bearish as the RSI eases momentum marginally below its 50 neutral mark and the red Tenkan-sen is stabilizing well under the blue Kijun-sen line. For a meaningful rally, buyers need to snap the descending trend-line seen around 1.1100 and particularly close above the 50-day simple moving average [..]

Week Ahead – Central banks bonanza awaits: Fed might disappoint, BoJ could surprise, more Brexit blues for BoE

Posted on September 13, 2019 at 1:30 pm GMT

With the ECB meeting over, it’ll be the turn of other central banks to try and impress stimulus-hungry markets with no less than four major policy meetings still to come. The Bank of Japan, the Bank of England, the Swiss National Bank, and of course, the Federal Reserve will announce their decisions over the next seven days. Economic data will also make the headlines as Canada, Japan and the United Kingdom publish inflation stats, China releases industrial production and retail [..]

Daily Market Comment – ‘Super Mario’ delivers, but not enough to keep euro down

Posted on September 13, 2019 at 8:26 am GMT

ECB cuts rates & restarts QE, but Draghi’s hints that monetary policy is at its limits push euro higher Stocks soar, havens drop on reports of an ‘interim’ US-China trade deal US retail sales today may be crucial for whether Fed delivers a ‘hawkish rate cut’ next week Euro rides the ECB rollercoaster, ends higher The European Central Bank (ECB) meeting was not short of excitement, with policymakers slashing the deposit rate by 10 basis points to -0.50% and restarting [..]

Daily Market Comment – ECB meeting front and center as trade worries ease

Posted on September 12, 2019 at 8:36 am GMT

ECB decision today – euro reaction to hinge on size of stimulus package Trade fears recede after US and China extend olive branches – stocks soar Oil prices dive as Trump considers easing Iran sanctions ECB meeting: Is ‘Super Mario’ coming with a bazooka or a toy gun? The much-anticipated ECB meeting concludes today at 11:45 GMT, and a press conference by President Mario Draghi will follow at 12:30 GMT. Policymakers are widely expected to deliver a blend of stimulus [..]

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