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EURUSD

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Technical Analysis – EURUSD bears pierce 1.12 support level; negative bias strengthens

Posted on June 18, 2019 at 11:55 am GMT

EURUSD is currently trading below the 1.1200 level that kept bears in check in the previous two sessions, with the RSI and the MACD suggesting more downside to follow as the former is losing momentum below its 50 neutral mark and the latter is weakening below its red signal line. Should the market come under stronger negative pressure, the 1.1110 bottom could prove tough to break through as it did earlier this year. If not, the selling may get new legs, with support coming next somewhere between 1.10-1.0950. [..]

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Daily Market Comment – Markets await central bank signals; pound slides

Posted on June 18, 2019 at 8:08 am GMT

Markets look to ECB forum today for easing hints – Draghi torpedoes euro Pound takes another hit ahead of more Tory leadership votes Aussie drops after RBA minutes reaffirm dovish stance Traders await signals as central bankers gather under one roof Markets continue to trade in a relatively quiet manner, with limited movements in most currencies and stocks as investors remain wary of increasing their risk exposure ahead of pivotal events this week – most notably, the Fed decision tomorrow. With [..]

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Daily Market Comment – Markets await central bank signals; pound slides

Posted on June 18, 2019 at 8:06 am GMT

Markets look to ECB forum today for easing hints – focus on Draghi Pound takes another hit ahead of more Tory leadership votes Aussie drops after RBA minutes reaffirm dovish stance Traders await signals as central bankers gather under one roof Markets continue to trade in a relatively quiet manner, with limited movements in most currencies and stocks as investors remain wary of increasing their risk exposure ahead of pivotal events this week – most notably, the Fed decision tomorrow. [..]

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Week Ahead – Markets seek rate cut signals from Fed; BoE and BoJ meet too; euro eyes flash PMIs

Posted on June 14, 2019 at 10:57 am GMT

Central bank meetings will be front and centre next week as the Federal Reserve, Bank of England and Bank of Japan convene for their policy decisions. The Fed will likely grab the most attention amid intensifying expectations of a rate cut. In terms of data releases, the main focus will be on inflation as Canada, the Eurozone, Japan and the United Kingdom report for the month of May. Flash PMIs out of the Eurozone will be important too, so will [..]

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Daily Market Comment – Oil, gold up on Middle East tensions; dollar steady ahead of US retail sales

Posted on June 14, 2019 at 8:05 am GMT

Brent crude extends gains following tanker attack in Gulf of Oman; gold lifted too Dollar heads for weekly gains as US retails sales and Fed meeting eyed Aussie and kiwi sag on growing rate cut bets Oil jumps on renewed tensions in Middle East Market sentiment was mixed on Friday as ongoing trade uncertainty and a flare up in Middle East tensions were partly offset by growing expectations that the Fed will come to the rescue of a weakening economic [..]

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European Open Preview – Yen up on trade deal pessimism; pound down on failed bid to block no-deal Brexit

Posted on June 13, 2019 at 8:11 am GMT

Major pairs struggle against the yen as the market mood sours on low hopes of a US-China trade deal US dollar also supported from risk-off despite softer-than-expected inflation data Pound gains then falls again as opposition MPs fail to get backing for legislation blocking a no-deal Brexit Safe havens back in demand Fading hopes that there could be a breakthrough in the stalled trade talks between the United States and China at the G20 summit weighed on market sentiment for [..]

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European Open Preview – Dollar drifts lower ahead of US inflation data; euro edges up on Trump tweet

Posted on June 12, 2019 at 8:19 am GMT

US dollar drifts lower as markets await US inflation data for Fed rate clues Stocks turn negative as Trump says he’s “holding up the deal” with China Euro eyes fresh highs, gets a lift from Trump’s currency comments Risk appetite fades as US-China deal looking unlikely at G20 US stocks ended their five-day winning streak as hopes that the US and China would still be able to get the trade negotiations back on track at the G20 summit fast dwindled. [..]

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European Open Preview – Relief rally on Mexico deal continues; stocks and dollar advance

Posted on June 11, 2019 at 8:19 am GMT

Markets extend relief rally following US-Mexico deal that averted tariffs on Mexican imports Dollar and stocks edge higher, but gains capped amid doubts about Trump-Xi meeting at G20 Pound slips on GDP contraction; unable to find much support from hawkish BoE comments Risk appetite recovers further after US-Mexico truce The US dollar continued to edge higher on Tuesday, lifted by recovering Treasury yields as demand for safe-haven government bonds ebbed after President Trump struck a deal with Mexico over illegal [..]

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European Open Preview – Dollar bounces back from soft jobs report on Mexico-US migrant deal

Posted on June 10, 2019 at 8:22 am GMT

Risk appetite recovers after the US unexpectedly suspends planned tariffs on Mexico indefinitely US dollar and global stocks boosted but Fed rate cut bets remain high following weak NFP report Disappointing Chinese data also limits risk-on as yuan hits fresh 2019 lows Markets lifted by surprise US-Mexico deal It was a positive start to trading on Monday as markets were greeted by some rare good news. President Trump unexpectedly suspended tariffs on all Mexican imports indefinitely late on Friday as [..]

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Technical Analysis – EURUSD reverses near 1.1300 after posting 2½-month high

Posted on June 10, 2019 at 6:42 am GMT

EURUSD reached a two-and-a-half-month high of 1.1347 on Friday as the pair exited from the medium-term descending channel in the preceding days, signaling furhter upside movement. Prices are currently developing near the 1.1300 handle and are remaining above the Ichimoku cloud and the 20-and 40-day moving averages. Despite today’s pullback the bullish picture is further supported by short-term technical indicators. The MACD is strengthening its momentum above the trigger line, while the stochastic oscillator is entering overbought territory. To the [..]

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