All Articles Tagged - EURUSD

Euro gets crushed ahead of inflation and GDP numbers – Forex News Preview

Posted on July 28, 2022 at 2:17 pm GMT

It has been a brutal month for the euro. Business surveys already point to a recession and traders are worried Russia might cut off the gas and paralyze the economy completely. The upcoming batch of inflation and GDP data on Friday are unlikely to change this narrative. Instead, a turnaround in the euro will require either more energy supply to come online or US inflation to cool down and clip the dollar’s wings. Energy troubles The euro’s nightmare keeps getting [..]

Daily Market Comment – Dollar cools off, stocks rally as Fed signals slower hikes

Posted on July 28, 2022 at 9:21 am GMT

Fed raises rates by 75bps but Powell opens the door for a slowdown Dollar takes a step back, gold bounces, stock markets go into overdrive Meta earnings disappoint, show continues with Apple and Amazon today Fed turns cautious As widely expected, the Federal Reserve raised interest rates by 75 basis points for the second straight month, frontloading the tightening of monetary policy. Chairman Powell noted that interest rates have now reached ‘neutral’ levels and will need to go into restrictive [..]

Daily Market Comment – Fed to roll out another shock-and-awe rate increase

Posted on July 27, 2022 at 8:45 am GMT

Fed triple-barreled rate hike locked in, all eyes on Powell Euro gets crushed by soaring gas prices, dollar capitalizes Decent results from Google and Microsoft calm some nerves Fed: Inflation vs growth The spotlight will fall on the FOMC decision today. Market pricing suggests a rate increase of three-quarters of a percent is essentially a done deal, with a chance of around 10% for an even bigger move of a full percentage point. Admittedly though, that doesn’t seem realistic as [..]

Technical Analysis – EURUSD could be ready for a retest of the parity level

Posted on July 26, 2022 at 1:14 pm GMT

EURUSD is plunging after failing several times to surpass the 20-day simple moving average (SMA) as well as the 1.0280 resistance level. The short-term technical indicators continue to exhibit bearish sings. The RSI is heading lower below the neutral level of 50, while the MACD is losing momentum above its trigger line in the negative sector. The next target to the downside is the parity level, which the price failed to fall below on a daily basis. However, the price [..]

Daily Market Comment – Earnings season kicks into top gear

Posted on July 26, 2022 at 8:24 am GMT

All quiet on the FX front, traders sidelined ahead of Fed decision Oil prices reclaim some ground on Russian pipeline shenanigans Stock markets await crucial earnings from Microsoft and Google Fed nerves It was a relatively calm session in the FX space. The prevailing theme was a slightly softer US dollar, but nothing to write home about. Most currency pairs traded in relatively narrow ranges, without any impactful data releases or news to drive the price action. Traders are playing [..]

Daily Market Comment – Yen gets some relief as dismal PMIs fan recession fears

Posted on July 25, 2022 at 8:45 am GMT

Gloomy business surveys from Europe and US add to market nerves Yen and gold come out on top as Fed rate path is recalibrated lower Stocks retreat after Snapchat warning, flurry of earnings coming up Recession worries There has been a tectonic shift in global markets this month, with concerns around an impending recession overshadowing inflation as the main threat to the outlook. This was reaffirmed by the latest business surveys from Europe and America, which were an absolute horror [..]

Technical Analysis – EURUSD stands below 20-day SMA; maintains bearish bias

Posted on July 25, 2022 at 6:30 am GMT

EURUSD remains under pressure and the risk is still to the downside as prices continue to drift lower from the 20-day simple moving average (SMA) and the latest high of 1.0280. The short-term technical indicators are still holding in bearish territory. The RSI is pointing downwards below the neutral threshold of 50, while the MACD is rising above its trigger line in the negative region. The next target to the downside is the parity level again, which the price failed to have a daily [..]

Week Ahead – Fed to raise rates, Italy in political turmoil

Posted on July 22, 2022 at 11:26 am GMT

All eyes will be on the Federal Reserve meeting next week. A triple-barreled rate increase is essentially locked in, so traders will put more emphasis on Powell’s commentary and the upcoming GDP report that will reveal whether America is in a technical recession. Over in Europe, there’s another round of inflation data coming up, although the euro might care more about the unfolding political crisis in Italy. Summer Fed hike There has been a tremendous shift in global markets recently. [..]

Daily Market Comment – ECB hikes big, euro unimpressed; stocks wobble on earnings, growth doubts

Posted on July 22, 2022 at 9:34 am GMT

Euro jumps then falls on ECB’s surprise 50-bps hike as Lagarde fails to inspire confidence Weak PMIs, Snap’s ad warning and rise in US jobless claims re-ignite slowdown concerns Dollar firms but fallout in equities contained by sliding bond yields ECB frontloads rate hikes but new tool troubles euro The European Central Bank threw its rule book out the window on Thursday as policymakers defied their own forward guidance of a 25-basis-point rate hike to lift their three main lending [..]

Daily Market Comment – Euro edges up on Nord Stream relief, awaits ECB outcome

Posted on July 21, 2022 at 9:04 am GMT

Euro buoyed as gas flows resume ahead of ECB decision, but turmoil in Italy Earnings lift S&P 500 to 6-week high but stocks mixed today Gold slumps to one-year low as it loses out to rising rates, bullish dollar All eyes on size of ECB rate hike and new bond tool The euro is clawing higher ahead of the European Central Bank’s widely anticipated interest rate rise – the first in 11 years – later today. There is some uncertainty [..]

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