EURUSD

Week Ahead – Another Brexit deadline looms; Bank of Japan meets

Posted on March 8, 2019 at 1:30 pm GMT

A vote in the British parliament could determine whether the Brexit deadline will be extended, while a Bank of Japan policy meeting will be another highlight for traders in the coming week. Economic indicators will also be watched closely amid renewed growth jitters as industrial output figures for January are reported in China, the Eurozone, the United Kingdom and the United States. Inflation numbers from the US will be the other main release. Chinese growth likely softened further at start [..]

European Open Preview – Draghi torpedoes euro; US payrolls coming up

Posted on March 8, 2019 at 8:56 am GMT

US nonfarm payrolls report dominates the agenda today ECB pushes back rate hike timing, announces new loans; euro crumbles Stocks continue to retreat, yen advances as China’s trade data disappoint Nonfarm payrolls in the limelight The spotlight today will be on the US employment report for February. Forecasts are quite optimistic across the board. Nonfarm payrolls (NFP) are expected to have risen by 180k, less than January’s astonishing 304k but still a strong number overall. Meanwhile, the unemployment rate is anticipated [..]

Technical Analysis – EURUSD eases marginally higher after dive towards 21-month low

Posted on March 8, 2019 at 7:58 am GMT

EURUSD created a strong downfall rally on Thursday, sending the price towards a fresh 21-month low beneath the 1.1200 handle, around 1.1175. The pair penetrated the medium-term sideways channel to the downside, completing a new descending channel in the short-term. The pair has not seen a positive day since February 26. Technically, the RSI indicator is turning slightly to the upside after the decline in the oversold zone, suggesting a possible retracement in the price action, while the MACD oscillator is strengthening its bearish [..]

European Open Preview – BoC throws in the towel, spotlight turns to ECB

Posted on March 7, 2019 at 8:57 am GMT

ECB meeting the main event today, focus will be on signals for loans to banks Loonie sinks to two-month lows as BoC abandons rate hike plans Elsewhere, stocks retreat without a clear catalyst – perhaps on profit taking Will the ECB join the chorus of dovish central banks today? All eyes will be on the highly-anticipated ECB policy decision today, and in particular on the updated economic forecasts and Draghi’s press conference at 13:30 GMT. The euro area economy continues [..]

US nonfarm payrolls coming up as dollar approaches key resistance levels – Forex News Preview

Posted on March 6, 2019 at 2:55 pm GMT

The all-important US employment report for February will hit the markets on Friday at 13:30 GMT. Forecasts point to yet another solid report and if so, that could make investors more confident the Fed will raise rates again later in 2019, thereby helping the dollar to extend its latest gains. That being said, the reserve currency is now very close to levels it has consistently failed to overcome in recent months, so buyers should tread lightly. The labor market remains [..]

European Open Preview – BoC decides as rate-hike bets evaporate; aussie drops

Posted on March 6, 2019 at 8:49 am GMT

Bank of Canada meets; markets seem to be expecting a major dovish pivot, which may not materialize US dollar rally revitalized by robust ISM index Aussie drops to two-month lows as RBA rate-cut expectations grow BoC decides as rate-hike bets evaporate The main event on Wednesday will be the Bank of Canada (BoC) rate decision. No action is expected, and since there is no press conference by Governor Poloz either, investors will scrutinize the accompanying statement for any policy hints. [..]

ECB meeting: Acknowledging weakness, hinting at TLTROs? – Forex News Preview

Posted on March 5, 2019 at 2:50 pm GMT

The European Central Bank (ECB) will conclude its policy meeting on Thursday at 12:45 GMT, with a press conference by President Draghi to follow at 13:30 GMT. The Eurozone economy is struggling, and market attention will thus be on whether the ECB will take steps to cushion the slowdown, for example by hinting at another round of long-term loans for commercial banks. While such signals may hurt the euro a little, for euro/dollar to break below 1.1213, some greater catalyst [..]

European Open Preview – Dollar rally in full throttle, but mind the speed bumps

Posted on March 5, 2019 at 8:58 am GMT

Dollar upswing continues unabated, but caution gradually warranted US stocks retreat after soft data, Chinese markets up on stimulus news RBA stays on hold, aussie yawns UK services and ISM non-manufacturing PMIs coming up today Dollar rally in full throttle, but speed bumps may lie ahead The US dollar registered another session of strong gains to kick off the week, gaining ground against all its major counterparts besides the defensive Japanese yen, which was the best performer as risk sentiment [..]

European Open Preview – Stocks bask in trade optimism; dollar advances

Posted on March 4, 2019 at 9:09 am GMT

Stocks cruise higher on reports that a trade deal is just around the corner Dollar advances, despite soft US data and ‘jawboning’ by Trump Loonie crushed as Canadian GDP disappoints, oil retreats Equities bask in trade optimism US stock markets closed higher on Friday, and futures suggest these indices will likely open in the green on Monday as well, fueled by renewed optimism that a US-China trade deal is just around the corner. Media reports over the weekend reinforced such [..]

Technical Analysis – EURUSD lacks clear positive signals

Posted on March 4, 2019 at 7:57 am GMT

EURUSD is currently building another tiny red candle within the strong boundaries of 1.1400 and 1.1356. Technically, the pair could continue to slide sideways as long as the RSI fluctuates around its 50 neutral mark and the MACD barely moves around zero and its red signal line. The falling 20-day moving average (MA) though, could be a negative sign that the rebound on the 3-month low of 1.1233 has probably come to an end. The 23.6% Fibonacci of 1.1356 of the [..]

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