All Articles Tagged - EURUSD

Eurozone PMIs: slowing down but no recession yet – Forex News Preview

Posted on June 21, 2022 at 3:27 pm GMT

The flash PMI releases by S&P Global are one of the monthly highlights of the Eurozone calendar as the forward-looking indices tend to track GDP growth in the euro area quite closely. The first look at the June readings is due Thursday (08:00 GMT) and investors will be scouring for clues about how close the Eurozone economy is to stagflation. The forecasts suggest the danger is quite low for now. But can the data offer the bruised euro any relief? [..]

Daily Market Comment – Stocks extend gains, dollar retreats as recession angst tempered

Posted on June 21, 2022 at 8:29 am GMT

Market panic continues to ease, stocks claw higher, but mood is subdued Euro and pound nudge up on ECB and BoE comments, RBA caps aussie gains Powell testimony and data awaited for more direction Equities stage a cautious rebound The market turmoil sparked by last week’s round of central bank rate hikes receded further on Tuesday, as worries about a recession were put on hold while investors weighed the risks ahead of some key data and a congressional testimony by [..]

Daily Market Comment – A calmer start after torrid week, spotlight on Powell testimony

Posted on June 20, 2022 at 9:09 am GMT

Dollar eases off as risk appetite makes a tepid return, US futures edge up Euro climbs despite Macron losing parliamentary majority Fed hawks downplay recession risks but investors cautious ahead of Powell Commodity prices remain pressured after sharp selloff Panic selling pauses for now as yields pull back Markets got off to a steadier start on Monday following last week’s turmoil that tipped the S&P 500 officially into a bear market. Fears about high inflation forcing central banks’ hands to [..]

Technical Analysis – EURUSD erases last week’s gains, standing below 1.0500

Posted on June 20, 2022 at 6:53 am GMT

EURUSD is returning below the 1.0500 psychological level after the jump towards the 1.0600 barrier. The sideways move within the 1.0345 multi-month low and the 38.2% Fibonacci retracement level of the down leg from 1.1495 to 1.0345 at 1.0780 is continuing with the technical indicators, suggesting a negative bias. The downside reversal in the RSI and the slowdown in the MACD oscillator justify the selling pressure, both remaining beneath their neutral thresholds keeping the short-term risk skewed to the downside. [..]

Technical Analysis – EURUSD pulls below 50-SMA; bias neutral

Posted on June 17, 2022 at 12:37 pm GMT

EURUSD took a downhill jump in the four-hour chart after its recent acceleration hit a wall near the 50-period simple moving average (SMA) on Thursday when it momentarily spiked higher to 1.0600. Despite the latest pullback in the price, the RSI is still testing an ascending trendline just around its 50 neutral mark, while the MACD remains attached to its zero line, warranting a close eye on the nearby 1.0493 familiar support level. If sellers crack that base, the 20-period SMA will come under the spotlight at 1.0460. Failure to [..]

Week Ahead – Flash PMI and inflation data in focus after mammoth Fed rate hike

Posted on June 17, 2022 at 11:58 am GMT

Recession worries are mounting as central banks around the world step up their fight against soaring inflation. The flash PMI readings for June will be watched for any clues that tighter monetary policy is choking economic growth. In the meantime, inflation numbers in Canada, Japan and the United Kingdom could add yet more pressure on policymakers to do more. However, after hiking rates by the most in 28 years, Fed chief Jerome Powell could steal the limelight again in the [..]

Daily Market Comment – Yen rolls over as BoJ refuses to join party, stocks pummeled

Posted on June 17, 2022 at 9:00 am GMT

Bank of Japan delivers no policy changes, hammers yen back down Stock market selloff intensifies, dollar hit by lower yields, gold shines Mixed signals from Bank of England send sterling on a rollercoaster ride BoJ holds the line The Bank of Japan stuck to its guns today, keeping its policy settings unchanged and doubling down on its commitment to maintain yield curve control – the strategy responsible for the carnage in the Japanese yen. Speculation was running wild that the [..]

Technical Analysis – EURUSD shows negative risks near 1.0400

Posted on June 16, 2022 at 10:25 am GMT

EURUSD is holding around the 1.0400 psychological level, remaining in a narrow range after the drop from the 1.0530 resistance level. Falling further, immediate support could come from the 1.0350-1.0360 restrictive region, before diving to 1.0220, taken from the inside swing high in July 2002. In terms of technical indicators, the RSI is losing momentum below the neutral threshold of 50, confirming the recent price action; however, the MACD is standing above its trigger line in the bearish region, but [..]

Daily Market Comment – Fed slams on the brakes, BoE decision next

Posted on June 16, 2022 at 8:38 am GMT

Fed raises rates by 75 bps, dollar cools off, stocks bounce Bank of England could disappoint market expectations today SNB surprises with 50 bps rate hike, BoJ set to keep powder dry Fed goes big The Federal Reserve raised interest rates by 75 basis points, in line with market pricing. Chairman Powell attributed the powerful move to the latest sizzling inflation reading and concerns that inflation expectations were starting to drift beyond the 2% target, which forced the Committee to [..]

Daily Market Comment – Fed decision kicks off central bank bonanza

Posted on June 15, 2022 at 8:23 am GMT

Markets expect Fed to raise interest rates by 75 bps today ECB calls emergency meeting today too – time to close spreads? Yen and sterling retreat ahead of their own central bank meetings Fed playbook The next couple of days are loaded with central bank meetings, kicking off with the Fed decision today. A rate increase is almost certain as the Fed attempts to dismantle inflationary forces – the question is exactly how big this move will be and where [..]

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