All Articles Tagged - EURUSD

Technical Analysis – EURUSD accelerates but not out of the woods yet

Posted on July 17, 2024 at 1:55 pm GMT

EURUSD picks up steam ahead of Thursday’s ECB rate decision Short-term risk skewed to the upside; key obstacles nearby EURUSD accelerated to an almost four-month high of 1.0947 on Wednesday, recovering from June’s damage and recouping more than half of the 2024 downleg, which sent the price as low as 1.0600. The pair, however, is not out of the woods yet. The 61.8% Fibonacci retracement of the 2024 downfall is currently under examination around 1.0932, while the trendline zone [..]

A repeat of the 2006-07 price action could spell trouble for the S&P 500 – Special Report

Posted on July 17, 2024 at 1:42 pm GMT

Performance of key market assets resembles the 2006-07 period The S&P 500 index could experience a sizable correction The current US 10-year yield drop could have legs Yen could benefit further as euro/dollar volatility is possibly heading north Fed readies for a September rate cut Almost one year after the last Fed rate hike, the latest developments in the US, predominantly the recent labour market report and last week’s weaker inflation prints, have probably tipped the scale in favour of [..]

ECB could disappoint expectations for a dovish shift – Preview

Posted on July 16, 2024 at 9:43 am GMT

ECB meets with near zero chances for a rate cut ECB members continue to disagree about the rates outlook A dovish shift looks unlikely as the focus rests with the Fed Euro showing unexpected strength despite political unrest ECB meets but all eyes remain on the US The ECB is preparing for the last meeting before the summer lull with developments elsewhere making President Lagarde’s job even more challenging. While the world is still digesting last week’s weaker US CPI [..]

Higher market volatility led by yen, gold and equities – Volatility Watch

Posted on July 16, 2024 at 6:58 am GMT

Euro/dollar volatility remains low despite weekend’s events Volatility in commodities jumps, apart from oil Stock indices experience stronger volatility, decoupling from Bitcoin Euro/dollar volatility remains very low despite last week’s weaker CPI report and the weekend’s gun attack on the Republican Presidential candidate. On the flip side, volatility in yen crosses has increased considerably as the BoJ is rumoured to have intervened last week in dollar/yen, ahead of the end-July BoJ gathering. In the meantime, volatility in gold has jumped to the highest level of the [..]

Weekly Technical Outlook – EURUSD, GBPUSD, Gold

Posted on July 15, 2024 at 1:23 pm GMT

EURUSD tests June’s peak as ECB rate decision looms GBPUSD pauses impressive rally near 1.3000 ahead of CPI data Gold resumes weak momentum after closing above 2,400 US retail sales –> Gold It was a shocking weekend of a failed assassination attempt against Donald Trump, which caused a heated moment in the US political landscape. Despite that, the US dollar gained only moderately on safety bits, leading the non-yielding gold slightly to the downside as Biden and Trump called for [..]

Technical Analysis – EURUSD jumps to a fresh 1-month high

Posted on July 15, 2024 at 7:58 am GMT

EURUSD edges higher after break above SMAs The pair advances to its highest level since June 4 Oscillators suggest that bullish forces are strengthening EURUSD has been in a steady uptrend after the bullish breakout from its downward sloping trendline in place since December 2023. Moreover, the pair conquered both its 50- and 200-day simple moving averages (SMAs), surging to a fresh one-month peak on Friday. Should the latest upleg strengthen, the price could initially challenge the June peak of 1.0915. [..]

Market Comment – A confused market tries to find its footing

Posted on July 15, 2024 at 7:49 am GMT

Dollar is steadier following the weekend’s events Chairman Powell speaks today as outlook becomes challenging Bitcoin benefits from developments and gold remains above $2,400 China’s CPC plenary starts today and could generate headlines Market digests the events of the weekend A numb start to the trading week as the market is digesting the weekend’s events regarding the US Presidential candidate Donald Trump. The attack during a Republican rally in Pennsylvania brought back memories from a distant past. There is lots [..]

A September Fed rate cut could lead to an easing spree during end-2024 – Special Report

Posted on July 12, 2024 at 10:45 am GMT

Market prices in at least two rate cuts from Fed ECB, BoE expected to follow suit despite divergent economic conditions SNB and BoC could ease further; RBNZ possibly close to a summer rate cut BoJ and RBA could surprise with rate hikes during 2024 We are halfway into 2024 and the countdown for this year’s key event, the US presidential election, has already started. With geopolitics taking a backseat lately, despite both the Ukrainian-Russian and Israeli-Hamas conflicts remaining unresolved, political risk is [..]

Week Ahead – ECB set to hold rates, plethora of data on the way

Posted on July 12, 2024 at 10:03 am GMT

ECB is not expected to cut in July but will it signal one for next meeting? Retail sales will be the main highlight in the United States UK CPI report will be vital for BoE’s August decision China GDP data to kickstart busy week ECB meets amid sticky inflation The European Central Bank concludes its two-day policy meeting on Thursday but no change in interest rates is anticipated after trimming them by 25 basis points at last month’s gathering. The [..]

Market Comment – Weaker US CPI sends US stocks into a tailspin

Posted on July 12, 2024 at 7:36 am GMT

Top US stocks fall despite the weaker CPI report Dollar suffers but euro/dollar fails to make significant gains Gold climbs above the $2,400 level again Yen benefits from dollar weakness and possible intervention The September Fed rate cut is a step closer The US inflation report for June managed to produce a downside surprise. Despite the headline figure failing to breach the 3% level, the first negative month-on-month change since June 2020 and lower shelter CPI print allowed the market [..]

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