EURUSD

US durable orders eyed as dollar remains ‘king’ – Forex News Preview

Posted on May 23, 2019 at 12:13 pm GMT

The next highlight for the dollar will be the release of US durable goods orders for April, on Friday at 12:30 GMT. Forecasts point to a soft set of data, possibly due to weakness in demand for commercial aircraft. While a disappointment may hurt the dollar on the news, the broader outlook for the greenback remains positive as long as other major currencies continue to lack appeal. New orders for durable goods are forecast to have contracted by 2.0% on [..]

European Open Preview – Sterling suffers as knives come out for Theresa May

Posted on May 23, 2019 at 8:11 am GMT

Sterling hammered on expectations PM May could resign soon German PMIs disappoint – euro may stay under pressure Risk aversion deepens as markets fear ‘new cold war’ Fed minutes reaffirm neutral stance, dollar advances No reprieve for sterling as May fights for political survival The British pound continues to be hammered by political uncertainty, with the leader of the House of Commons – Andrea Leadsom – resigning from the cabinet yesterday in protest to the government’s Brexit approach. The move [..]

European Open Preview – Then came the last days of (PM) May

Posted on May 23, 2019 at 7:58 am GMT

European Open Preview – Pound unimpressed by Brexit plan; Fed minutes due

Posted on May 22, 2019 at 8:09 am GMT

Pound surrenders gains to trade lower after May unveils Brexit plan Fed minutes today may boost the dollar a little Stocks advance on Huawei relief, but risks still heightened Sterling not convinced by May’s ‘last Brexit push’ The British pound briefly spiked higher yesterday, before surrendering all its gains to trade even lower, after PM May laid out her modified Brexit deal. In an attempt to win over votes from opposition parties and pro-EU moderates, she proposed giving Parliament a [..]

Small uptick expected in Eurozone PMIs as euro struggles ahead of European elections – Forex News Preview

Posted on May 22, 2019 at 6:36 am GMT

As the euro searches for a bottom, business survey data out of the Eurozone this week could help the single currency put a floor under its recent declines. The flash PMIs from IHS Markit for May will be released on Thursday at 08:00 GMT, along with Germany’s Ifo business sentiment gauge due at the same time. However, even if the survey numbers manage to bolster the euro, dangers lie ahead as a rise in support for populist parties at the [..]

Euro could have a cold June – Special Report

Posted on May 21, 2019 at 2:55 pm GMT

The Eurozone’s currency has been driving on a slippery road for more than a year now and even if the 19-member bloc doubled its growth in the first quarter of 2019, downside risks in both the political and economic spheres continue to linger in the background, flagging another tough month for the euro. In the first three months of the year, GDP growth in the Eurozone was 0.4% q/q, which was twice the increase in the fourth quarter of 2018 according [..]

Fed minutes may give the dollar a helping hand – Forex News Preview

Posted on May 21, 2019 at 12:04 pm GMT

The minutes of the latest Fed meeting are due out at 18:00 GMT on Wednesday. Chairman Powell was less cautious than markets had anticipated back then, downplaying the prospect of rate cuts. The minutes could echo a similar message, particularly since this gathering took place before the latest escalation in trade tensions. If so, that may trigger a slight unwinding of market rate-cut bets, lifting the dollar. Fed Chairman Powell ‘calmed’ investors back at the May meeting, indicating that [..]

European Open Preview – Dovish RBA sinks aussie; dollar shines

Posted on May 21, 2019 at 8:34 am GMT

Aussie gives up election gains as RBA rate cuts come in focus US calms nerves by temporarily easing sanctions on Huawei Dollar advances as other currencies lose shine Aussie reverses lower as RBA rate cut bets soar The election-related boost that the aussie received yesterday proved short-lived, with the currency giving back nearly all its gains early on Tuesday, following the release of minutes from the latest RBA meeting and some remarks by Governor Lowe. The minutes played up the [..]

European Open Preview – Pound recovers some losses; dollar reigns supreme

Posted on May 20, 2019 at 8:16 am GMT

Sterling crumbles as no-deal Brexit risk returns Aussie gets a lift from politics, but outlook still grim Dollar continues to reign supreme as other currencies lack appeal Pound dives as May’s grasp on power weakens Sterling took yet another hit on Friday, with Cable falling to its lowest level since January as the British political landscape darkened. Cross-party talks between Theresa May’s Conservatives and the opposition Labour party collapsed, dashing hopes for a bipartisan compromise to break the Brexit deadlock. [..]

Technical Analysis – EURUSD tumbles within descending channel; 23-month low in sight

Posted on May 20, 2019 at 6:33 am GMT

Since its deep fall towards a two-week low in early May, EURUSD slipped beneath the 20- and 40-simple moving averages (SMAs) in the daily timeframe, remaining in a descending channel of its drop from 1.1570. The technical picture supports that the 1.1260 resistance is likely to continue to hold in the short-term. Looking at momentum indicators, the MACD declined below its trigger line and zero line, suggesting that the market could keep losing momentum in the near term. The stochastic also supports [..]

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