EURUSD

Daily Market Comment – Stocks resume gains, dollar whipsaws as optimism returns

Posted on December 1, 2020 at 10:01 am GMT

Asian recovery gathers speed, pulling global stocks higher Dollar bounces higher, then falls as temporary growth jitters subside Powell offers no policy clues in prepared remarks as US data underwhelms Pound spikes above $1.34 as Brexit deal speculation heats up Recovery back on track, at least in Asia Strong manufacturing PMIs out of Asian powerhouses lifted the market mood on Tuesday, reversing some of the gloom that set in yesterday from soft US indicators. A quickening in the manufacturing revival [..]

Eurozone deflation, PMI slump point to ECB action, yet euro is soaring – Forex News Preview

Posted on November 30, 2020 at 3:50 pm GMT

The flash prints for November inflation are due out of the Eurozone on Tuesday (10:00 GMT) along with a host of other data that should provide the latest glance on how the economy is faring. The inflation numbers are expected to reveal that the euro area experienced falling prices again in November, while the final PMI readings will probably confirm that business activity shrank during the month. The deteriorating economic conditions come as the euro is flirting with the key [..]

Daily Market Comment – Dollar slips again on Fed speculation; stocks pause for breath

Posted on November 30, 2020 at 10:00 am GMT

Dollar extends slide as investors look to Powell testimony and NFP report for Fed clues Stocks stumble at start of week, but vaccine progress keeps risk appetite alive Pound still holding out for Brexit breakthrough as time running out Oil slips as OPEC+ unlikely to agree on long extension to output cuts Dollar remains pinned down in crucial week There was no end in sight to the US dollar’s losing streak at the start of the new trading week as [..]

Technical Analysis – EURUSD claims 3-month high; near a critical make or break point

Posted on November 30, 2020 at 8:59 am GMT

EURUSD’s refusal to dive below the 1.1600 floor for the second time has developed into a bullish wave in November, pushing the price comfortably into the 1.1900 area and to an almost three-month high of 1.1975 on Monday. From a technical perspective there is scope for additional improvement in the short run as the price is deviating above the Ichimoku cloud and its 20- and 50-day simple moving averages (SMAs). In other encouraging signals, the MACD continues to gain momentum [..]

Week Ahead – Data overload may spoil vaccine euphoria; NFP to lead the pack

Posted on November 27, 2020 at 1:14 pm GMT

It’s NFP week and as investors battle the vaccine optimism against the short-term gloom, the latest jobs report from the United States may determine which way sentiment sways next. Canada will also publish jobs numbers along with its Q3 GDP print. The Reserve Bank of Australia, meanwhile, will kick off the December round of central bank meetings. In Europe, flash inflation figures will be watched in anticipation of the ECB’s next move. But amidst the busy economic calendar, it’s Brexit [..]

Daily Market Comment – Dollar on the ropes, aussie unfazed by China tariffs

Posted on November 27, 2020 at 12:09 pm GMT

Greenback hovers near lows, markets quiet overall What’s the outlook for euro/dollar from here? China slaps tariffs on Australian wine, but aussie immune Crunch time in Brexit talks as EU negotiators travel to London All quiet on the FX front It was a relatively subdued session in global markets yesterday with US traders being away on holiday. Most stock indices closed flat and currency pairs generally traded in narrow ranges, with no real headlines to steer the price action and [..]

Daily Market Comment – Dollar on the defensive, market rally pauses

Posted on November 26, 2020 at 9:24 am GMT

Stock markets pause for breath, currencies quiet too Dollar the only notable mover, extends recent losses Crude oil retreats from highs as OPEC meeting looms Sterling in the spotlight as Brexit headlines turn cautious Markets calmer on Thanksgiving The ecstatic mood that prevailed in global markets earlier this week seems to have faded for now, with stock markets being essentially flat since Tuesday and most currency pairs confined in narrow trading ranges. There is a sense that investors are waiting [..]

Technical Analysis – EURUSD retreats after hitting 3-month high

Posted on November 26, 2020 at 9:11 am GMT

EURUSD has been in an upside tendency since November 4, recording a fresh three-month peak of 1.1940 earlier today. According to the technical indicators, the RSI is holding near the 70 level but is flattening, while the stochastic posted a bearish crossover within its %K and %D lines in the overbought territory. Should the pair strengthen its positive momentum, the next resistance could come around the 1.2010 barrier, registered on September 1. More advances could take the pair until the inside [..]

Daily Market Comment – Dollar comeback falters, gold gets burned

Posted on November 24, 2020 at 10:45 am GMT

US PMIs show economy firing up, dollar bounces but falls back Stocks power higher, yet the Fed remains a wild card Kiwi cheers potential changes to RBNZ mandate Gold burned by a stronger greenback and higher yields Strong PMIs send ripples across markets A perfect storm of encouraging news has engulfed global markets early this week, reawakening some animal spirits. The latest AstraZeneca vaccine isn’t as effective as its counterparts but is much cheaper and easier to store, the US [..]

Daily Market Comment – New batch of vaccine hopes and the Brexit endgame

Posted on November 23, 2020 at 10:01 am GMT

Fresh vaccine news boosts risky assets, but only barely Vaccines losing their mojo in lifting markets? Sterling cruises higher as speculation around a Brexit deal grows European PMIs not quite as dismal as feared Diminishing positive returns from vaccine news? The vaccine hype train keeps on rolling. AstraZeneca was the latest drug maker to announce its late-stage trial results and even though the efficacy rate was only 70% – much lower than that of Pfizer or Moderna – the news [..]

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