EURUSD

European Open Preview – Fed ‘dots’ to steal the show; pound retreats

Posted on March 20, 2019 at 9:06 am GMT

Fed decision at 18:00 GMT today; new rate projections to dictate market reaction Stocks pause rally as trade uncertainty reigns in Sterling inches down amid reports May will ask for short Brexit extension Fed ‘dots’ to steal the show The main event today will be the Fed policy decision at 18:00 GMT, which will be followed by a press conference from Chair Powell. No change in policy is expected, so all eyes will be on the updated forecasts for the [..]

European Open Preview – Long Brexit extension looms; dollar retreats as Fed casts shadow

Posted on March 19, 2019 at 9:15 am GMT

Pound drops as Brexit angst deepens, but prospect of long extension offers ray of hope Growing Fed rate cut expectations support risky assets, weigh on dollar Crude oil continues to march higher UK House speaker vetoes third Brexit vote – long extension in scope UK politics made headlines yet again on Monday after the Speaker of the House of Commons, John Bercow, ruled out allowing the government to bring its Brexit deal to Parliament for a third time unless it [..]

European Open Preview – Dollar softens as Fed meeting looms; stocks climb

Posted on March 18, 2019 at 11:58 am GMT

US stocks rally to six-month highs but perhaps on option expiries – implying some cause for caution Dollar retreats in a quiet session; looks to Fed meeting on Wednesday Sterling catches its breath ahead of potentially decisive week US equities cruise to six-month highs on ‘quad witching’ In an otherwise quiet session, US stock markets rallied on Friday, with the benchmark S&P 500 (+0.50%) index breaking above a critical resistance zone around 2,820 that capped several rallies in recent months, [..]

Technical Analysis – EURUSD runs higher near descending trend line

Posted on March 18, 2019 at 7:22 am GMT

EURUSD has advanced considerably over the preceding week after the rebound on the 21-month low of 1.1175, challenging again its simple moving averages (SMAs) in the daily timeframe. The price surpassed the 23.6% Fibonacci retracement level of the downleg from 1.1570 to 1.1175, near 1.1325, but it continues to trade within a downward sloping channel. Technically, the RSI indicator is confirming the recent upside movement as it is sloping slightly higher. In Stochastics, the %K and %D lines have posted a bullish crossover in the overbought zone. The [..]

Week ahead – Fed, BoE, and SNB policy meetings highlight a packed agenda

Posted on March 15, 2019 at 1:19 pm GMT

Traders will be glued to their screens next week amid a barrage of crucial events, ranging from a highly-anticipated Fed policy meeting to even more Brexit votes in the British Parliament. At the same time, almost every major economy will see the release of data that could be decisive for their respective currencies, particularly considering the synchronized shift by central banks towards a more ‘cautious’ stance lately. Fed decides: All eyes on the new ‘dots’ Arguably the main event in [..]

Dollar depreciation remains elusive even as Fed prepares to lower rate path prediction – Special Report

Posted on March 14, 2019 at 4:27 pm GMT

Following the Federal Reserve’s dovish pivot in January, there is a lot of anticipation for the next FOMC meeting on March 19-20 when policymakers will publish their latest economic projections, including a revised dot plot chart. But as the Fed becomes increasingly at ease with its newly-adopted wait-and-see approach, the dovish policy move does not appear to be transmitting into the currency markets, with the dollar index holding close to 1½-year highs. The greenback was widely expected to weaken in [..]

European Open Preview – Sterling soars after Parliament rejects no-deal Brexit; Trump trade comments weigh on sentiment

Posted on March 14, 2019 at 9:12 am GMT

Pound continues rollercoaster ride amid more Brexit twists and turns at Westminster; MPs look set to vote in favour of delaying Brexit Chinese industrial production falls to 17-year low, dampening market sentiment President Trump says he is “in no rush” to complete trade talks with China, raising doubts about a March deal Pound leaps to 9-month high as no-deal Brexit is voted down The British currency jumped to a 9-month peak of $1.3383 on Wednesday after the UK Parliament voted [..]

European Open Preview – Pound swings wildly on May’s Brexit defeat; more votes to come

Posted on March 13, 2019 at 9:01 am GMT

Pound edges up, recovering from earlier sharp losses, as UK Parliament expected to vote against no-deal Brexit May’s yet another historic defeat leads equities into risk-off mood; global growth concerns and Boeing slump also weigh Aussie slips on weak consumer confidence Sterling likely to remain volatile as British MPs to vote on no-deal and delaying Brexit After rallying sharply to a high of $1.3288 yesterday, the pound dramatically reversed lower, hitting a low of $1.3003 as it became apparent that [..]

Technical Analysis – EURUSD recovers some ground; holds in negative sideways channel

Posted on March 12, 2019 at 9:05 am GMT

EURUSD has been outperforming in the past three days, after the strong rebound on the 21-month low of 1.1175 on March 7. Currently, the price has been developing within a downward sloping channel in the short-term following the penetration of the medium-term sideways channel. Technically, the RSI indicator is confirming the recent upside movement, while the stochastics posted a bullish crossover within %K and %D lines in the oversold zone, suggesting a positive correction. If the price continues the pullback on [..]

European Open Preview – Pound extends rally on revised Brexit deal but Parliament backing unclear

Posted on March 12, 2019 at 8:54 am GMT

Pound extends yesterday’s surge as May secures ‘legally binding’ changes to Brexit deal All eyes now on British Parliament amid doubts whether EU’s legal assurances will be enough Equities rally and yen retreats as risk appetite improves and on hopes of more stimulus in China Sterling back above $1.32 on hopes May can win MPs backing with revised deal The British pound was the star performer for a second day on Tuesday as UK prime minister, Theresa May, managed to [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms