All Articles Tagged - EURUSD

Dominant US dollar turns to another round of data – Forex News Preview

Posted on June 28, 2022 at 2:31 pm GMT

The US dollar will be in the spotlight this week with the Fed’s favorite inflation measure on Thursday ahead of the ISM manufacturing PMI on Friday. Concerns about rampant inflation have been overshadowed by fears of a recession, so these releases could be crucial in shaping the narrative around the Fed. Overall, the dollar is unlikely to lose its shine while energy prices remain so high, torturing the euro and yen. Inflation or recession? The narrative in financial markets has [..]

Daily Market Comment – Oil prices edge higher on capacity concerns, yen retreats

Posted on June 28, 2022 at 8:46 am GMT

Reports that Middle East producers are tapped out boost oil prices Yen back under pressure – is the downtrend close to its conclusion? Wall Street loses some altitude, ECB forum in the spotlight Crude recovers Oil prices edged higher for a third session on Tuesday, following reports that major producers such as the United Arab Emirates and Saudi Arabia are either completely tapped out or have little spare capacity to boost output. Coming hot on the heels of social unrest [..]

Daily Market Comment – Inflation relief saves stocks, currencies trade quietly

Posted on June 27, 2022 at 8:55 am GMT

Stocks rally in relief after Michigan inflation expectations get revised lower New theme is inflation vs recession risk, focus on GDPNow estimate today Major FX pairs stick to trading ranges, Russia defaults, gold bounces back Relief rally Stock markets closed the week on a high note, rallying in relief after the final print of long-term inflation expectations in the University of Michigan survey was revised lower. The Fed used this survey to justify its latest ‘super’ hike, arguing that a [..]

Technical Analysis – EURUSD tests key resistance trendline; bias neutral-to-bearish

Posted on June 27, 2022 at 7:33 am GMT

EURUSD opened the week with a muted tone, consolidating its rebound off 5½-year lows marginally below the tough resistance trendline drawn from the 1.1494 high and its shorter-term simple moving averages (SMAs) around 1.0580. The upside reversal in the RSI and the MACD’s slow improvement above its red signal line is sending some positive vibes about short-term trading, though as long as the indicators hover in the bearish area, downside risks remain intact. The stochastics are setting a bearish intersection [..]

Week Ahead – Energy politics and a barrage of data releases

Posted on June 24, 2022 at 11:27 am GMT

There are no central bank meetings next week but there is an avalanche of economic data from America, Europe, and Japan to keep traders entertained. Politics will also be in the spotlight with a G7 meeting over the weekend. Global leaders are expected to outline steps to stabilize energy markets, which could have tremendous implications for central banks. Politicians scramble The spike in energy prices and their impact on consumers has turned into the most important political issue across the [..]

Daily Market Comment – Dollar stalls, stocks given a lifeline as rate hike bets scaled back

Posted on June 24, 2022 at 9:21 am GMT

European and US PMI data underscore recession risks, dampen price outlook Falling commodity prices add to reduced inflation expectations Investors go back to the drawing board for central bank rate hike paths Stocks rejoice as yields slip too, but dollar consolidates Recession risks loom large Speculation that the major economies in Europe and America are on the verge of tipping into a recession continues to intensify as the flash PMI reports for June have provided fresh evidence that growth is [..]

Technical Analysis – EURUSD struggles near 1.0500 and 40-period SMA

Posted on June 23, 2022 at 1:31 pm GMT

EURUSD has recovered some of the ground it lost over the previous four-hour session and is currently moving above 1.0500. The technical indicators are displaying conflicting signs at the moment. The RSI is trending slightly upward near the neutral threshold of 50, but the MACD oscillator is still staying below its trigger line and above the zero level with weak momentum. Traders could increase buying interest for the pair, which would push the market up to the 200-period simple moving [..]

Technical Analysis – EURUSD recoups some losses, holding near 1.0500

Posted on June 23, 2022 at 10:30 am GMT

EURUSD is recouping some of the losses of the previous four-hour session, climbing above 1.0500. The technical indicators are showing some contradictive signs. The RSI is sloping marginally up near the neutral threshold of 50; however, the MACD is still remaining below its trigger line and above the zero level. Should the price close comfortably above the 20-period simple moving average (SMA) at 1.0530, traders could boost demand for the pair, pushing the market up to 200-period SMA at 1.0585. Close by, the 1.0605 and 1.0650 resistance levels [..]

Daily Market Comment – Powell does little to ease recession concerns but selloff eases

Posted on June 23, 2022 at 9:14 am GMT

Powell talks inflation and recession but Wall Street holds its nerve Flash PMIs underscore recession risks, euro and pound slip Oil extends losses as outlook weighs, investors question supply tightness Powell sticks to the script, mentions the ‘R’ word Fed Chair Jerome Powell largely stuck to familiar language in his semi-annual testimony before the Senate Banking Committee on Wednesday, repeating his message that the Fed is “strongly committed” to bringing inflation down. Most market participants expect the Fed to hike [..]

Daily Market Comment – Wall Street bounces back but recession fears return to haunt markets

Posted on June 22, 2022 at 8:58 am GMT

US stocks join global stock rebound but rally fizzles out already Recession fears intensify again ahead of Powell testimony Oil sinks as White House gets serious about lowering gasoline prices Dollar firmer, euro and pound find some support as aussie and kiwi sink Risk appetite fades amid renewed growth jitters Worries about soaring inflation and stalling growth were weighing on the market mood again on Wednesday as an increasing number of investors, including high-profile names such as Elon Musk, upped [..]

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