EURUSD

Week Ahead – Aussie Q2 data, RBA and BoC meetings, US jobs report and Brexit to make for a busy week

Posted on August 30, 2019 at 1:05 pm GMT

As the summer draws to a close, it will begin to get a little more heated in forex markets as a combination of central bank meetings, key releases and political risks look set to jump start the Autumn trading season. A raft of data out of Australia next week as well as an RBA policy meeting will keep aussie traders glued to their desks, though the Bank of Canada could steal the limelight as it ponders whether to make a [..]

Daily Market Comment – Dollar & stocks climb on trade hopes; inflation data eyed

Posted on August 30, 2019 at 8:15 am GMT

Optimism engulfs markets after China calms trade nerves – can it last? ECB policymakers downplay QE prospects, but euro doesn’t ‘buy it’ Euro area & US inflation data in the spotlight today Dollar index near 2-year highs as trade optimism lingers Global equity markets were a sea of green on Thursday, with European and American stocks gaining more than 1% after China indicated it won’t retaliate immediately to the latest US tariffs and that the planned trade talks could still [..]

Eurozone inflation prints due ahead of Draghi’s ‘last hurrah’ – Forex News Preview

Posted on August 29, 2019 at 11:58 am GMT

The euro area’s preliminary CPI data for August will hit the markets at 09:00 GMT on Friday, and forecasts suggest that inflationary pressures remain muted. Another weak set of data could amplify expectations for an aggressive stimulus package by the ECB in September, keeping the euro under pressure. The big picture for the single currency is dark too, as the trade war combined with Brexit worries have brought the European economy to the brink of recession. The Eurozone seems to [..]

Daily Market Comment – Pound sinks as Boris plays ultimate game of chicken

Posted on August 29, 2019 at 8:44 am GMT

Pound drops after PM Johnson suspends Parliament Risk appetite improves as China hints September trade talks may go ahead German inflation data and US second GDP reading on the radar today Sterling dives as Boris sets course towards a no-deal Brexit In a dramatic turn of events, UK Prime Minister Johnson announced yesterday he will prorogue Parliament, meaning that British lawmakers will not be able to debate or vote on anything between September 12 – October 14. The move is [..]

Daily Market Comment – Wall Street retreats on recession fears; oil soars

Posted on August 28, 2019 at 9:08 am GMT

Yen and gold advance, stocks retreat as recession worries intensify Pound recovers as no-deal Brexit risk recedes, but outlook still negative Oil jumps after massive inventory drawdown – official EIA figures due today Wall Street retreats as recession fears deepen A mild risk-off tone swept through global markets on Tuesday, with American stocks closing modestly in the red and the defensive Japanese yen outperforming most of its major peers. Likewise, gold prices logged some gains, as the commodity currencies – [..]

Daily Market Comment – Risk sentiment fragile despite ‘calm’ trade rhetoric

Posted on August 27, 2019 at 8:16 am GMT

Markets recover as Trump strikes a conciliatory tone, but reality sinks in Further trade escalation seems imminent, so risk aversion may linger In the UK, opposition lawmakers will meet to avert a no-deal Brexit Risk sentiment in ‘no-man’s land’ as markets digest conflicting signals Global risk appetite recovered on Monday, following some encouraging signals on trade by the US President at the G7 summit. Trump said that Chinese officials had called the American negotiators in order to ‘get back to [..]

Salvini may have thrown a boomerang – Special Report

Posted on August 26, 2019 at 2:03 pm GMT

Matteo Salvini, the right-wing League Deputy Prime Minister, fired up a political crisis in Italy after pulling support for the coalition government earlier this month, forcing the Prime Minister Giuseppe Conte to resign and the marriage with the leftist Five Star Movement (M5S) to break down. Starting consultation with the main political parties, President Sergio Matarella will push efforts to form a new alliance and avoid snap elections before the 2020 budget discussions with the EU start. The plan, however, [..]

Daily Market Comment – Markets in mayhem as US hits China with new tariffs

Posted on August 26, 2019 at 8:22 am GMT

Risk aversion back in play as Washington escalates trade war But risk-off moves reverse on Monday after Trump calms spirits, for now US durable goods orders today eyed for signs of investment slowdown Yen soars, stocks crumble as trade war intensifies to a new level Trade fears continue to wreak havoc in global markets, with risk aversion making a sharp comeback on Friday after Washington and Beijing exchanged another round of retaliatory tariffs, escalating the trade war to a whole [..]

Technical Analysis – EURUSD eyes 2-month downtrend line; pauses at 38.2% Fibo

Posted on August 26, 2019 at 7:55 am GMT

EURUSD appreciated, taking back more than half of two weeks of losses. The bulls are eyeing the downtrend line, but it seems that the move up has hit a ceiling as the upside momentum has evaporated, something also indicated by the RSI as it has flattened at the 50-level. The 200- and 100-day simple moving average (SMA) are declining slightly sideways, whereas the 40-day SMA has dropped and merged with the downtrend line implying that the bearish bias is prevailing [..]

Week ahead – Economic data and G7 summit highlight a calm week

Posted on August 23, 2019 at 1:12 pm GMT

There isn’t much on the calendar next week other than economic data, so it may be a relatively calm period as a turbulent summer draws to a close. The G7 summit in France could grab some headlines, but markets usually ignore such events. Instead, the focus may fall mainly on any trade news, as the US prepares to unleash new China tariffs on September 1. Euro area inflation numbers in sight as Draghi prepares for ‘last act’ In the euro [..]

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