All Articles Tagged - EURUSD

Week Ahead – ECB and RBA meetings: playing catchup

Posted on June 3, 2022 at 12:29 pm GMT

The European Central Bank is set to flag its first rate hike in more than a decade this week, while the Reserve Bank of Australia might step on the brakes harder. But as the laggards of the central bank world finally get their stakes on when it comes to tightening policy, investors will be on the lookout for more evidence that inflation may already be peaking in the United States. China’s economy will be in the spotlight too as trade [..]

Daily Market Comment – US dollar turns its sights to employment report

Posted on June 3, 2022 at 8:45 am GMT

Too early for US employment data to reflect hiring slowdown? Oil prices reverse higher as OPEC doesn’t satisfy thirsty market Stocks recover despite Microsoft’s warning, euro capitalizes Nonfarm payrolls playbook The latest US employment report will be in the limelight today as nervous market participants search for anything that might convince the Fed to shift into lower gear later this year. There have been several signs that the US labor market is losing momentum, from a slowdown in the housing [..]

US Open Note – Dollar continues the sell-off after ADP and ahead of NFP; oil erases losses

Posted on June 2, 2022 at 12:43 pm GMT

ADP dissapoints; NFP comes out tomorrow After the disappointing release of the ADP report which announced 128K workers versus 300K that was expected, the dollar is still trading lower. After two days in a row of gains, the dollar index retraced to a low of 102.12. As dollar/yen traded over 130 for the first time since the middle of May, the trend of the yen weakening has re-established itself. Sterling is holding above $1.25, within the short-term moving averages. Yesterday, Bullard stated that the path that the Fed [..]

Daily Market Comment – Oil under pressure ahead of crucial OPEC meeting

Posted on June 2, 2022 at 8:40 am GMT

OPEC meets today, supply decision could impact euro and stocks too Dollar supported by solid US data and rising yields, sterling tumbles Gold defies fundamental drivers, Swiss franc jumps on inflation data Beyond oil The world’s dominant oil cartel will convene today to decide on production targets. This is the most important OPEC meeting in a year and the outcome could have far-reaching implications for several asset classes as the global economy grapples with the hardest energy shock in decades. [..]

Technical Analysis – EURUSD shows improvement after bounce off 200-period SMA

Posted on June 2, 2022 at 7:19 am GMT

EURUSD is regaining some ground after the bounce off the 200-period simple moving average (SMA) and is approaching the 23.6% Fibonacci retracement level of the up leg from 1.0350 to 1.0785 at 1.0680. The RSI indicator is moving towards the 50 level with stronger momentum than before, while the MACD is still holding below its trigger and zero lines. Immediate resistance could come from the 23.6% Fibonacci of 1.0680 ahead of the 40- and the 20-period SMAs around 1.0715. A [..]

Technical Analysis – EURUSD advances curbed at 1.08 mark, broader bearish tone lingers

Posted on June 1, 2022 at 2:57 pm GMT

EURUSD has failed to close north of the 1.0726-1.0800 resistance barrier that stretches back to late April 2020 and is currently retreating beneath its falling 50-day simple moving average (SMA). The sliding SMAs are still defending the longer-term bearish trend in the pair, which sellers have already begun to repower. The short-term oscillators are indicating that downward momentum is growing amid abating positive forces ahead of the 1.0800 hurdle. The MACD is implying that the bullish impetus is feeble, while [..]

Daily Market Comment – Dollar recovers, OPEC fires warning shot at oil prices

Posted on June 1, 2022 at 9:05 am GMT

Euro/dollar remains hostage to US yields and stock markets OPEC clips the wings of oil prices, gold loses some altitude too Bank of Canada decision and US data in the spotlight today One big trade Global markets have turned into one giant trade in recent months. Almost every asset class is driven by the same two elements – the intensity of inflationary forces and the threat of recession. The bond market has been at the epicenter of this shift, with [..]

US Open Note – Sentiment wanes as recession jitters grow

Posted on May 31, 2022 at 2:27 pm GMT

Dollar and oil regain buoyancy as yields recover This week is due to deliver important data regarding the economic outlook in the United States, which may prove to have more significance, as these align with a time of growing worries for a recession in the US. Consumption and employment in the US are robust, but markets are looking to the ISM Manufacturing PMI and the May payrolls report to further bolster sentiment. US treasury yields are heading higher again as [..]

US dollar turns to jobs report for more fuel – Forex News Preview

Posted on May 31, 2022 at 2:06 pm GMT

The latest US employment report will hit the markets at 12:30 GMT Friday. Forecasts and business surveys point to another solid report, although there are some signs that the labor market might be running into trouble. As for the dollar, the recent retracement still seems like a correction within a broader uptrend, not a turning point. Hiring slowdown? Not yet Market participants are turning pessimistic about the economy, sensing a slowdown in growth around the corner. Mortgage rates have gone [..]

Daily Market Comment – New sanctions boost oil prices, stop euro in its tracks

Posted on May 31, 2022 at 8:56 am GMT

European Union announces new sanctions against Russian oil Euro rebound halted ahead of inflation stats, oil keeps rising Biden-Powell-Yellen will meet today to discuss inflation Russian oil banned, mostly European leaders reached an agreement to cut around 90% of the oil coming from Russia by the end of the year. The aim is to deal another blow to the heavily sanctioned economy and diminish Putin’s ability to wage war, although this decision will also inflict collateral damage back on Europe [..]

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