EURUSD

European Open Preview – May suffers Brexit defeat, can she survive no-confidence vote?

Posted on January 16, 2019 at 8:54 am GMT

Sterling recovers despite May’s Brexit defeat; no-confidence vote due today Euro inches down as ECB’s Draghi adopts an increasingly cautious bias Risk appetite stays firm; NAHB housing index today may be crucial Pound rebounds even as May suffers major defeat; no-confidence vote called British lawmakers overwhelmingly voted against PM May’s Brexit deal yesterday, with 432 rejecting the accord and 202 voting in favor, a much wider margin of defeat than rumored. The loss was so devastating that it led the [..]

European Open Preview – UK Parliament holds “meaningful vote”

Posted on January 15, 2019 at 8:56 am GMT

British lawmakers will vote on the Brexit deal today; outcome crucial for sterling In the broader market, risk aversion is abating as China outlined plans for fresh stimulus Some remarks by ECB President Draghi may also attract attention Sterling turns its sights to the long-awaited parliamentary vote The spotlight will fall on the UK today, where Parliament will vote on the government’s Brexit deal during the evening, between 1900-2100 GMT. The consensus overwhelmingly suggests a rejection and hence, the real [..]

European Open Preview – Sterling climbs on hints of Brexit extension

Posted on January 14, 2019 at 8:58 am GMT

Sterling spikes higher, looks to parliamentary vote on Brexit deal tomorrow Risk aversion returns after Chinese trade data disappoint Euro inches lower as ECB officials strike a more concerned tone Pound outperforms on reports of Article 50 delay The British pound advanced against all its major peers on Friday, after UK media reported that the government is considering delaying the official deadline for exiting the EU on March 29, if it loses the crucial Brexit-deal vote in Parliament tomorrow. Although [..]

Technical Analysis – EURUSD underperforms above downtrend line in short term

Posted on January 14, 2019 at 7:30 am GMT

EURUSD lost momentum over the previous couple of sessions finding strong resistance on the 1.1570 hurdle. Despite the upside penetration of the long-term descending trend line the price failed to extend gains well above this level. In the daily timeframe, the RSI indicator rebounded on the neutral threshold of 50 and is sloping marginally higher, while the MACD oscillator is flattening above the trigger and zero lines. It is worth mentioning that momentum is too weak to provide a sustained [..]

Week Ahead – Brexit crunch time as MPs to vote on May’s deal; inflation data to dominate

Posted on January 11, 2019 at 12:30 pm GMT

Brexit fatigue looks set to reach a climax next week as UK lawmakers will finally get their say on Theresa May’s deal. But with little chance of the deal passing through Parliament, stormy days lie ahead for sterling. On the data front, inflation will be the dominant theme, while the US housing market will also come under the spotlight, assuming the government shutdown doesn’t cause a delay to the scheduled releases. Chinese trade figures eyed China will publish its latest [..]

European Open Preview – US inflation data in the spotlight

Posted on January 11, 2019 at 9:16 am GMT

Dollar briefly inches up after Powell; US CPI data today will be crucial Swiss franc drops, with SNB likely behind the move US-China trade optimism boosts aussie and kiwi Brexit uncertainty lingers ahead of next week’s Parliamentary vote Powell helps dollar to rebound briefly, but mind the upcoming inflation data Fed Chair Powell mostly “stuck to the script” yesterday, reiterating the recent shift in the Fed’s reaction function. He said his central bank can afford to be patient with further [..]

European Open Preview – Dollar capitulates as Fed signals “patient” approach

Posted on January 10, 2019 at 9:11 am GMT

Dollar falls sharply after Fed signals it will be “patient”; a slew of key speakers will be in focus today Euro advances, and attention now turns to the ECB minutes at 1230 GMT BoC stands pat, keeping further gradual hikes on the table China stokes trade optimism, but US stock futures flashing red Dollar capitulates on Fed speak, extends losses after FOMC minutes The main mover in FX markets yesterday was the US dollar, which fell significantly and across the [..]

ECB minutes next in line as rate differentials keep euro resilient – Forex News Preview

Posted on January 9, 2019 at 3:14 pm GMT

The minutes of the latest ECB meeting, where policymakers officially decided to end QE, are due out on Thursday at 1230 GMT. Investors will look at how officials see the Eurozone’s growth prospects, and whether they are even more worried than President Draghi has let on. Any signs the Bank is growing more cautious may weigh on the euro, though note that the currency has remained resilient in the face of bad news recently, so any downside may be fairly [..]

European Open Preview – FOMC minutes and BoC rate decision in the spotlight

Posted on January 9, 2019 at 8:59 am GMT

In the US, minutes from the latest FOMC meeting will be scrutinized for clues on whether a pause in rate hikes is indeed in order In Canada, the BoC will meet and attention may fall on whether policymakers are growing more cautious Overnight, China releases its updated inflation data FOMC minutes eyed for rate guidance amid recession fears The dollar advanced nearly across the board on Tuesday without any major US-specific catalyst, instead capitalizing on weakness in the euro, which [..]

Eurozone economic sentiment index to mark a negative year – Forex News Preview

Posted on January 7, 2019 at 10:59 am GMT

The European Commission is publishing its final Business and Consumer Survey for 2018 on Tuesday at 1000 GMT. While the numbers stood at 18-year highs at the end 2017, creating euphoria that the uptrend would continue in the near future, the confidence indicators moved to the downside during 2018 and are now forecasted to finish the year even lower. The economic sentiment index which measures confidence in five areas (industrials, services, consumers, construction, retail sales) is projected to drop by 0.7 points to [..]

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