All Articles Tagged - EU50

Technical Analysis – EU 50 index touches 14-week high but returns some gains

Posted on May 11, 2018 at 12:35 pm GMT

The EU 50 index has completed the seventh bullish week in a row following the bounce off the 3260 support barrier. However, in the short-term, the index has erased some of its gains over the last hours during Friday’s session after it reached a new 14-week high of 3580.70. Looking at momentum oscillators on the daily chart, they suggest further declines may be on the cards in the short-term. The RSI is below its 70 line, with negative momentum and is pointing downwards. The stochastic oscillator posted a bearish cross within the [..]

US Open Preview – Dollar ticks lower; Canadian jobs data in sight

Posted on May 11, 2018 at 11:02 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index edged lower on Friday (-0.17%), extending losses from Thursday on the back of disappointing US inflation data. Dollar/yen was down 0.09%, with little in the way of news or developments to guide price action. Euro/dollar inched up to 1.1943 (+0.24%), while pound/dollar touched 1.3570 (+0.39%), with the latter licking its wounds following a sharp decline on Thursday, after the Bank of England appeared cautious about near-term rate [..]

European Open Preview – Cautious BoE sends the pound tumbling; Canadian jobs data on the horizon

Posted on May 11, 2018 at 7:39 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which tracks the greenback’s performance against a basket of six major currencies, traded 0.1% higher on Friday, recouping some of the losses it posted on Thursday following weaker-than-anticipated US inflation data. The British pound recorded hefty losses on Thursday too, after the BoE played down expectations for a near-term rate increase. STOCKS: Wall Street raced higher yesterday, after disappointing US inflation figures calmed the nerves of investors worried that the Fed may raise [..]

US Open Preview – Pound rebounds to 1-week highs ahead of BoE rate decision; oil reaches fresh peaks

Posted on May 10, 2018 at 10:58 am GMT

Here are the latest developments in global markets: FOREX: Sterling recovered earlier losses ahead of the BoE rate decision later today, bouncing up to a 1-week high of $1.3616 (+0.46%) despite data on the UK’s industrial production and the trade deficit coming in worse than expected and shedding a dark cloud around the country’s economic outlook. The euro gained some ground, rising to $1.1882 (+0.28%), while the dollar eased to 109.62 (-0.09%) against the yen. However, rising long-term US Treasury yields continued to underpin the greenback at a time of increasing geopolitical risks [..]

European Open Preview – Kiwi tumbles; BoE decision and US inflation in focus

Posted on May 10, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was practically flat on Thursday, ahead of the release of the US CPI data for April at 1230 GMT. Kiwi/dollar plunged nearly 1.0% overnight, after the RBNZ kept its policy unchanged but shifted to a more dovish bias, keeping the possibility of a rate cut on the table. Sterling/dollar traded 0.2% higher, as investors awaited the BoE’s rate decision today at 1100 GMT. STOCKS: Wall Street closed higher [..]

European Open Preview – Dollar and oil continue marching higher as geopolitics dominate attention

Posted on May 9, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was nearly 0.3% higher on Wednesday, touching its highest level in four-and-a-half months, and extending the significant gains it posted on Tuesday on the back of a rebound in longer-term US Treasury yields and particularly strong JOLTS data. STOCKS: Major US indices closed practically flat on Tuesday, in the aftermath of the US decision to leave the Iran nuclear deal. The Nasdaq Composite and the Dow Jones managed to climb 0.02% [..]

US Open Preview – Dollar index breaks 93 key-level ahead of Trump’s nuclear decision

Posted on May 8, 2018 at 11:18 am GMT

Here are the latest developments in global markets: FOREX: The euro extended its losses against the dollar early in the European session as investors shorted their positions on the currency amid uncertainties surrounding the Eurozone’s economic performance, sending euro/dollar to a fresh 4-month low of 1.1870 (-0.41%). Pound/dollar was also on the back foot, slipping to 1.3509 (-0.35%) after the British Halifax house price index fell by more than expected on a monthly basis. Brexit risks were pressuring the pair as [..]

European Open Preview – Dollar little changed; Trump’s Iran decision in the spotlight

Posted on May 8, 2018 at 7:39 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which gauges the greenback’s strength against a basket of six major currencies, was practically flat on Tuesday ahead of a speech by Fed Chair Jerome Powell at 0715 GMT. It touched its highest level in five months yesterday, as the euro (which has by far the biggest weight in this basket) declined following some lackluster data out of the Eurozone. STOCKS: US markets closed higher yesterday. The tech-heavy Nasdaq Composite climbed [..]

European Open Preview – Dollar climbs after jobs data; trade developments eyed

Posted on May 7, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.1% higher on Monday, extending the gains it posted on Friday in the aftermath of the US employment report for April. The US unemployment rate touched a 17-year low, likely enhancing speculation that an ever-tightening labor market is set to push wages higher in the coming months – labor force participation did fall as well though. STOCKS: Wall Street closed higher on Friday, paring some early losses posted after the [..]

US Open Preview – Greenback firms as markets await US employment data

Posted on May 4, 2018 at 11:20 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, edged higher by 0.20% during the European session to 92.55, approaching the four-month high of 92.63 reached on Wednesday. Euro/dollar remained under selling pressure after Eurozone’s retail sales and final services PMI figures were weaker than expected, slipping by 0.23%. Meanwhile, dollar/yen retreated to 109.05 (-0.08%), with the focus remaining on whether US jobs data will provide the spark for [..]

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