EURUSD

European Open Preview – US proposes tariffs on EU, but markets remain calm

Posted on April 9, 2019 at 8:09 am GMT

US officially proposes tariffs on EU, but market reaction minimal so far Euro advances, looks to ECB meeting tomorrow In Brexit, May will meet Merkel and Macron today ahead of EU summit Lighthizer recommends tariffs on EU – new chapter in trade war? The main story overnight was that the US Trade Representative, Robert Lighthizer, proposed introducing tariffs on a list of 11$bn worth of EU products in retaliation to EU aircraft subsidies. This is the clearest sign yet that [..]

European Open Preview – Fed rate-cut bets grow; oil climbs on Libya woes

Posted on April 8, 2019 at 8:10 am GMT

Dollar little changed after NFP, but Fed rate-cut odds rise In the UK, reports suggest PM May could accept a customs union compromise Oil touches five-month high as Libyan production is threatened Dollar snoozes after mixed jobs data, but rate-cut bets grow The US employment report for March was a mixed bag. Nonfarm payrolls clocked in at 196k, higher than the consensus for 180k, but wage growth disappointed, with average earnings slowing to 3.2% in annual terms, from a cycle-high [..]

Technical Analysis – EURUSD makes soft rebound above 21-month low

Posted on April 8, 2019 at 6:23 am GMT

EURUSD moved lower in the previous week but it managed to hold above the 21-month low of 1.1175, remaining in a downward sloping channel over the last three months. Prices hold below the red Tenkan-sen line, which is pointing down, suggesting a bearish view in the short-term. Moreover, the 20-and 40-simple moving averages (SMAs) are following the price action while the technical indicators are endorsing an opposite picture. Specifically, the MACD oscillator is heading slightly higher in the negative zone [..]

Week Ahead – Euro and pound in focus as ECB meets and EU leaders hold emergency Brexit summit

Posted on April 4, 2019 at 3:13 pm GMT

Economic data will take a backseat in the coming week as the biggest risk events that are being anticipated are the European Central Bank’s policy meeting and an emergency summit by the European Union to discuss the Brexit crisis. But while UK and EU politics may grab most of the headlines, there will also be some key releases to keep an eye on. Export numbers out of China and Germany will be watched to assess global trading conditions as trade [..]

European Open Preview – Equities extend gains; UK Parliament blocks no-deal

Posted on April 4, 2019 at 8:05 am GMT

Pound advances as UK Parliament blocks no-deal exit; all eyes on May-Corbyn talks Equities extend winning streak as trade optimism rides high ECB minutes the highlight on today’s calendar Parliament blocks no-deal Brexit, pound advances The Brexit process continues to dominate headlines. The House of Commons voted by the narrowest of margins (313-312) to force Theresa May to ask the EU for an extension beyond April 12. Lawmakers, not the government, will decide the length of the delay, subject to [..]

ECB Minutes to underline Eurozone woes as euro seeks a bottom – Forex News Preview

Posted on April 3, 2019 at 12:36 pm GMT

The euro is trading near its 2019 lows as not even a more dovish Fed has been able to offset any of the gloomy Eurozone outlook from weighing on the single currency. The continent’s deepening economic slowdown finally has the European Central Bank worried, deciding to take action at its March policy meeting to further stimulate the economy. The account of that meeting is due to be published on Thursday at 11:30 GMT and could reveal whether policymakers discussed any [..]

European Open Preview – Pound climbs as May warms up to Corbyn; stocks jump

Posted on April 3, 2019 at 8:03 am GMT

Encouraging trade signals lift risk sentiment; high-level talks resume today Sterling climbs as May warms up to Corbyn to break deadlock Dollar pulls back ahead of ADP report and ISM non-manufacturing PMI Risk appetite boosted by hopes for trade breakthrough After a relatively uneventful session on Tuesday, during which major US stock indices such as the S&P 500 closed flat, risk sentiment was lifted overnight by some encouraging signs on the trade front. Reports suggest that top US and Chinese [..]

European Open Preview – Stocks, dollar rip higher as growth fears ease

Posted on April 2, 2019 at 8:17 am GMT

Rebound in Chinese PMIs fuels rally in global stocks, dollar advances Pound outperforms as ‘soft’ Brexit outcomes or long extension seem likely Aussie drops after RBA recalibrates language Stocks and dollar cruise higher as China-induced rally lingers Global equity markets started the second quarter on a strong footing, after a decent set of PMI data out of China during the weekend calmed some nerves around the global growth outlook, amplifying the appeal of riskier assets. Wall Street shares rallied, with [..]

Technical Analysis – EURUSD unlocks 1.12 again; tumbles to 1-month low

Posted on April 2, 2019 at 6:46 am GMT

EURUSD lost ground in the previous couple of weeks but is still holding above the 21-month low of 1.1175. The world’s most traded pair has been developing within a downward aligned channel over the last three months and recorded a new one-month low of 1.1195. The sharp bearish rally drove the pair well beneath the Ichimoku cloud and the 20- and 40-simple moving averages (SMAs) in the daily timeframe, re-entering the 1.1200 area. The technical indicators are feeding prospects for a [..]

Struggling euro shifts focus to flash Eurozone CPI – Forex News Preview

Posted on March 29, 2019 at 2:54 pm GMT

While the Brexit drama continues to keep investors busy in Europe, holding the euro and the pound in check, the Eurozone preliminary inflation readings for the month of March are expected to steal attention on Monday at 0900 GMT. Consensus is for the headline inflation to remain unchanged below the target the European Central Bank aims to achieve, feeding prospects of a continuing accommodative monetary policy as negative growth risks are on the rise. On Thursday, the Harmonized version of [..]

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