EURUSD

ECB meeting: Is ‘Super Mario’ coming with a bazooka or a toy gun? – Forex News Preview

Posted on September 11, 2019 at 11:50 am GMT

The highly anticipated European Central Bank (ECB) meeting concludes on Thursday at 11:45 GMT, and a press conference by President Mario Draghi will follow at 12:30 GMT. Policymakers are almost certain to deliver a blend of measures, such as a rate cut combined with another dose of QE. Therefore, the question facing markets is how big this stimulus package will be. It’s a close call, but the risks seem tilted towards a larger-than-expected rate cut, which may weigh on the [..]

Daily Market Comment – Yen in distress amid trade optimism and BoJ easing talk

Posted on September 11, 2019 at 8:28 am GMT

Trade optimism remains the dominant theme, keeping FX market in a risk-on mood Yen underperforms on speculation of BoJ easing next week Oil retreats after Trump fires hawkish national security advisor Bolton Markets stay in a risk-on mood as trade optimism lingers The FX market continues to dance to a ‘risk-on’ tune, with moves in recent days being characterized by haven currencies such as the yen retreating, while trade-sensitive currencies like the aussie and the kiwi recover lost ground. Investors [..]

Daily Market Comment – Pound recovers as no-deal Brexit fears recede, for now

Posted on September 10, 2019 at 8:45 am GMT

Sterling outperforms as Johnson strikes a slightly more conciliatory tone Euro advances on reports Berlin is considering fiscal stimulus Safe havens retreat as US’ Mnuchin reiterates his optimism on trade Sterling cruises higher as no-deal Brexit chances recede, for now The political rollercoaster continues in the UK. Prime Minister Johnson lost another vote in Parliament yesterday, with lawmakers denying his request for a snap election again. Likewise, the legislation forcing the government to ask for a Brexit extension if no [..]

Technical Analysis – EURUSD pullback denied by bears and 50.0% Fibonacci level

Posted on September 9, 2019 at 9:24 am GMT

EURUSD plotted a twenty-eight-month low of 1.0925 after a fall from June 25. The bulls tried for a correction up to the downtrend line, but their efforts were ceased by the 20-day simple moving average (SMA) and the 50.0% Fibonacci retracement level of the down leg from 1.1249 to 1.0925, of 1.1086. The sellers took control at the level and pushed down the price, rejuvenating the prior downward sentiment. The momentum indicators are signaling that the down move could pause [..]

Daily Market Comment – Brexit the only game in town as markets wait for ECB

Posted on September 9, 2019 at 9:19 am GMT

All eyes on the UK as Boris takes another shot at securing a snap election Dollar little changed after NFP and Powell don’t move the needle – ECB in focus Markets stay in risk-on mood despite soft Chinese trade data Pound cools before another UK Parliament battle Never a dull moment in British politics. After a stormy week that saw the government lose its majority and suffer multiple Brexit defeats in Parliament, investors will keep their gaze locked on another [..]

Week Ahead – ECB stimulus eyed; China trade and US retail sales data in focus too

Posted on September 6, 2019 at 1:26 pm GMT

The European Central Bank’s policy meeting will be the focal point for traders next week as expectations are running high that a large stimulus package is on the way. But as the ECB takes action to boost flagging Eurozone growth, key indicators out of China, Japan, the United Kingdom and the United States will also be on the radar as investors seek clues about policy easing elsewhere. Chinese trade figures and US retail sales will be the main highlights from [..]

Daily Market Comment – Dollar lifted by upbeat US data; Powell and NFP report coming up next

Posted on September 6, 2019 at 8:25 am GMT

US dollar trims losses after string of upbeat data ease slowdown fears in the US Powell speech and US jobs report awaited for further clues Pound holds onto gains as Johnson battles to trigger a snap election Risk appetite recovers further on strong US data The week looks set to end on a positive tone as the mid-week rebound in risk appetite received an additional boost from robust economic indicators out of the United States yesterday. The US scored a [..]

Daily Market Comment – Brexit turmoil deepens but pound steadies on weaker dollar

Posted on September 4, 2019 at 8:29 am GMT

PM Johnson calls for snap election after MPs approve to hold vote on blocking a no-deal Brexit Dollar slips after US manufacturing unexpectedly contracts in August, sending bond yields lower Loonie eases from lows as Bank of Canada decision is awaited Johnson eyes elections after losing majority UK Prime Minister Boris Johnson suffered a humiliating defeat in Parliament on Tuesday after 21 of his own MPs voted in favour of a cross-party bill that paves the way for a vote [..]

Daily Market Comment – Stocks mixed as tariffs go up; pound slips as UK MPs return to Brexit chaos

Posted on September 2, 2019 at 8:36 am GMT

Stocks under pressure, safe-havens in demand as new US-China tariffs come into force Weak manufacturing PMIs also weigh on risk sentiment, but China stimulus hopes provide support Pound tumbles as traders brace for a turbulent week in Westminster as Brexit tensions boil Tariffs, growth worries dampen sentiment A new round of tariffs came into effect in the United States and China on Monday as the two countries imposed additional levies on each other’s goods in the never-ending trade war. While [..]

Technical Analysis – EURUSD revives bear trend at fresh 28-month lows

Posted on September 2, 2019 at 7:43 am GMT

EURUSD followed a series of bearish days after failing to breach the descending trend-line drawn from the 1.1411 peak, with the price dropping forcefully below the 1.1065 key support and into the 1.1000-1.0950 restrictive area. The fast-Stochastics have entered the oversold zone, while the RSI is ready to challenge its 30 oversold mark too, an indication that the bearish action could pause in the short-term. However, with the price trading comfortably below its moving averages, the market trend is likely to [..]

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