EURUSD

Daily Market Comment – Euro rebounds from lows after ECB disappoints; dollar holds firm

Posted on July 26, 2019 at 7:58 am GMT

ECB pledges more stimulus but euro bounces back from 2-year lows as no change this month disappoints US dollar climbs to 2-month highs as odds of 50-bps cut fade on solid US data Pound heads back down again after EU rejects Johnson’s request to renegotiate backstop Euro off lows but subdued The euro was steadier on Friday following yesterday’s volatility in response to the European Central Bank’s highly anticipated monetary policy meeting. The ECB kept policy unchanged on Thursday, though [..]

Daily Market Comment – Euro skids lower ahead of ECB; pound lifted by Johnson spending pledge

Posted on July 25, 2019 at 8:11 am GMT

Euro struggles near two-month lows as ECB decision is awaited Pound bounces higher after new prime minister signals big spending increases US dollar clings onto gains as Wall Street hits another record and trade talks make headway Euro mired by Eurozone doom and gloom Following yesterday’s poor Eurozone PMI readings, there was little support for the European common currency on Thursday as investors anxiously awaited the outcome of the European Central Bank’s monetary policy meeting later today. The euro was [..]

Daily Market Comment – Euro area PMIs disappoint; Dollar powers through competition

Posted on July 24, 2019 at 8:45 am GMT

Euro area PMIs disappoint, raising bets for a dovish ECB tomorrow US dollar outperforms, without any clear catalyst Euro/franc falls below 1.10 – will the SNB intervene soon? Euro slips as disappointing PMIs fuel ECB bets Preliminary PMI data out of France and Germany for June have just been released, and were disappointing overall. While the service sector numbers were more or less in line with forecasts, the manufacturing figures fell substantially, with the French print touching the neutral 50 [..]

ECB to guide on more stimulus – Forex News Preview

Posted on July 23, 2019 at 12:18 pm GMT

Three months before Draghi’s departure, chances for a looser monetary policy are rising higher as heightening global risks are threatening to keep the European Central Bank (ECB) on guard. Nevertheless, more stimulus will likely be a matter of guidance for the future at Thursday’s policy meeting rather than an order for execution despite expectations for a weaker flash composite PMI. Eurozone flash Composite PMI to inch lower The ECB is struggling as Eurozone economic indicators have yet to show any sign of improvement, while [..]

Daily Market Comment – Dollar sails higher; Boris becomes Prime Minister

Posted on July 23, 2019 at 8:09 am GMT

Dollar advances on US debt ceiling accord; may have more room to climb Boris Johnson to become new UK Prime Minister – watch his Cabinet picks Loonie and kiwi lose ground, earnings season fires up Greenback catches a bid after US debt ceiling deal Market moves were relatively subdued on Monday, with most major currency pairs trading in narrow ranges, without much in the way of news flow to guide the price action. Things became more interesting overnight though, after [..]

Daily Market Comment – Iran tensions rattle stocks, boost oil

Posted on July 22, 2019 at 8:12 am GMT

Stocks pull back, oil climbs as Iran escalates tensions with UK Dollar outperforms after Fed’s Bullard downplays prospect of ‘double’ cut Big week for euro, with a crucial ECB meeting on Thursday US equities retreat, oil rebounds after Iran seizes British ship Geopolitical headlines rattled markets late on Friday, with the benchmark S&P 500 (-0.62%) closing in the red after Iran seized a British oil tanker in the Strait of Hormuz, escalating hostilities with London to a new level. Oil [..]

Technical Analysis – EURUSD hovers near 1.1200; maintains weak bias in near term

Posted on July 22, 2019 at 6:15 am GMT

EURUSD has been under pressure over the last three weeks as it failed several times to jump above the short-term simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the downleg from 1.1815 to 1.1106 near 1.1275. Short-term momentum indicators are pointing to a continuation of the bearish bias. The RSI bounced off the neutral threshold of 50 and is edging lower, while the MACD oscillator is strengthening its movement to the downside below trigger and zero lines. [..]

Week Ahead – ECB edges closer to more stimulus; US reports Q2 GDP; UK to get new PM

Posted on July 19, 2019 at 9:49 am GMT

The European Central Bank is expected to steal the limelight from the Federal Reserve next week as it meets to discuss fresh stimulus measures for the Eurozone’s troubled economy. But the Fed will still be on investors’ minds as the preliminary report on US GDP growth in the second quarter could determine whether it opts for an aggressive rate cut later this month. Meanwhile, the pound’s rollercoaster ride is expected to extend into next week as the result of the [..]

Daily Market Comment – Cautious Fed remarks take the wheels off dollar

Posted on July 19, 2019 at 8:00 am GMT

Dovish remarks by key Fed officials push greenback lower WTI crude oil at four-week low amid mixed signals in US-Iran conflict Canadian retail sales and more Fed-speak dominate the agenda today Fed’s Williams argues for preventive easing, sends dollar reeling The greenback continues to attract all the attention, after two influential Fed officials fueled market expectations for an aggressive 50 basis points (bp) rate cut at the upcoming policy meeting. The move started after New York Fed President Williams [..]

Daily Market Comment – Pullback in dollar lifts all boats; risk aversion creeps back

Posted on July 18, 2019 at 8:14 am GMT

Dollar retreats as trade concerns fuel Fed rate cut bets Stocks drop, safe havens gain amid risk aversion Aussie climbs after employment data UK retail sales due as pound recovers some losses Dollar grinds lower as July rate cut bets mount The world’s reserve currency retreated almost across the board on Wednesday and continues to surrender ground today, falling in tandem with longer-term US interest rates as worrisome trade signals prompted traders to boost bets for aggressive Fed rate cuts. [..]

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