EURUSD

European Open Preview – Pound spikes higher on Brexit news; eurozone PMIs and key Canadian data coming up

Posted on November 23, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar is nearly 0.3% lower against a basket of six major currencies on Friday, looking set to post a third day of declines in a row, without any fresh catalyst behind these moves. Meanwhile, the British pound soared on Thursday, buoyed by news that EU and UK negotiators reached an accord on the draft political declaration, setting the stage for the deal to be approved by EU leaders over the weekend. [..]

Eurozone PMIs to signal even more dovish ECB? – Forex News Preview

Posted on November 22, 2018 at 3:02 pm GMT

November’s eurozone flash manufacturing and services PMIs, as well as the composite measure that blends the two sectors, are due on Friday at 0900 GMT. The prints are not expected to reflect a pickup in euro area economic activity during Q4, while another disappointment in the figures will likely spur speculation for a relatively dovish ECB during its December meeting. Such an outcome would be euro-negative, to state the obvious. Analysts’ preliminary estimates call for the manufacturing PMI to remain at 52.0 in [..]

European Open Preview – Dollar retreats a bit as risk aversion takes a breather; ECB minutes due

Posted on November 22, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is a little lower on Thursday (-0.12%), extending losses from yesterday that were owed to disappointing US durable goods data and reports the Fed will debate whether to pause its hiking cycle early next year. The euro clawed back some of its recent losses, aided by optimism that the EU-Italy standoff may be resolved diplomatically. STOCKS: Wall Street closed mostly higher on Wednesday for the first time this week, amid [..]

ECB minutes eyed as Eurozone growth remains sluggish, but euro perks up – Forex News Preview

Posted on November 21, 2018 at 10:20 am GMT

The European Central Bank will publish the account of its October 25 monetary policy meeting on Thursday at 12:30 GMT. With the Eurozone economy stuck in the doldrums, investors will be watching for any hint of misgivings by Governing Council members about the bank’s policy normalization plans. In the meantime, though, the euro has managed to find some reprieve from a weaker US dollar to recover around the $1.14 handle. As a rebound in Eurozone growth momentum becomes ever more [..]

European Open Preview – Dollar capitalizes on risk-off mood; euro eyes Italian budget saga

Posted on November 21, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is slightly lower on Wednesday (-0.17%), giving back some of the significant gains it recorded in the previous session as investors sought the safety of the world’s reserve currency. The loonie was the biggest underperformer, weighed down by another plunge in oil prices. Meanwhile, the yen and the franc attracted inflows amid the broad-based risk aversion, though both are a little lower today, as sentiment seems to have turned [..]

European Open Preview – Dollar extends pullback; BoE’s Carney appears before parliament

Posted on November 20, 2018 at 8:48 am GMT

Here are the latest developments in global markets: FOREX:The dollar index is marginally lower on Tuesday (-0.08%), extending the losses it posted in the previous session as US bond yields declined and a disappointing NAHB index fueled speculation the US economy may have peaked. The Swiss franc was the best performer, attracting inflows amid risk aversion in markets, while the euro followed closely in its tracks. The pound was little changed amid no fresh Brexit news, though investors may turn [..]

European Open Preview – Cautious Fed commentary weighs on dollar; Brexit, Italy, Sino-US trade in focus

Posted on November 19, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar is practically unchanged on Monday, licking its wounds after a considerable drop in the previous session, which came on the back of cautious commentary from Fed policymakers. The euro capitalized the most on the dollar’s retreat, remaining largely unfazed by the heightened volatility in the British pound. STOCKS: The Dow Jones (+0.49%) and the S&P 500 (+0.22%) closed higher on Friday, after US President Trump hinted at a potential “ceasefire” in [..]

Technical Analysis – EURUSD extends recovery near 1.1400; bearish outlook still in place

Posted on November 19, 2018 at 7:42 am GMT

EURUSD had a bearish start on Monday, with the price developing near the crucial psychological level of 1.1400, after creating four consecutive green days in the previous week. The pair has also significantly increased its distance above its 20-day simple moving average (SMA) for the first time over the last two months, while the technical indicators seem to be neutral to bullish. The RSI indicator is moving sideways near the threshold of 50 and the MACD oscillator is strengthening its positive momentum above its trigger [..]

Week Ahead – Italy and Brexit risks to remain elevated ahead of Thanksgiving weekend

Posted on November 16, 2018 at 1:43 pm GMT

The coming week will be an unusually quiet one for economic releases but political developments in Britain and Italy will likely provide plenty of volatility for traders. As the UK prime minister, Theresa May, scrambles to save her Brexit deal and the European Commission ponders disciplinary action against Italy, it’s looking like another choppy week for the pound and euro. As for the upcoming data, the focus will be on flash PMIs for the Eurozone, and inflation figures out of [..]

US Open Preview – Sterling largely consolidates massive losses with PM May’s leadership on tightrope

Posted on November 16, 2018 at 12:29 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was slightly up versus a basket of currencies, with the closely watched British currency being broadly higher. Still, the pound mostly consolidated Thursday’s sharp losses on the back of the Brexit drama that unfolded, and which still appears to have room to run. One exception was the yen, which came on the receiving end of safe-haven flows and thus the pound was unable to advance against it – pound/yen [..]

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