All Articles Tagged - EURUSD

Daily Market Comment – Dollar whipsaws after not-so-soft inflation data, stocks sink again

Posted on May 12, 2022 at 9:20 am GMT

Dollar on the front foot again after US inflation falls by less than expected Equity markets back in a sea of red as recession risks rise Pound slips to new lows after UK GDP contracts, hawkish ECB can’t save the euro Dollar bolstered as inflation becoming more sticky The US dollar climbed to fresh 20-year highs on Thursday as investors ramped up their bets that the Federal Reserve will have to get even more aggressive to bring down burgeoning inflation [..]

Technical Analysis – EURUSD meets 1.0500 again within narrow range

Posted on May 12, 2022 at 6:55 am GMT

EURUSD is continuing the negative momentum within a narrow range of 1.0470-1.0635 in the short-term, flirting with the more-than-five-year low. The 20- and 40-day simple moving averages (SMAs) are flattening, confirming the neutral bias. However, the RSI indicator is heading south below its neutral threshold of 50, while the MACD is extending its negative movement below its trigger and zero lines. Should the price retreat, the 1.0470 level which the bears were unable to break this week could provide immediate [..]

Technical Analysis – EURUSD consolidates above 1.05 mark but remains heavy

Posted on May 11, 2022 at 3:36 pm GMT

EURUSD is oscillating between the 1.0453-1.0493 base and the 1.0627-1.0666 resistance barrier, which encapsulates the March 2020 trough of 1.0635. The longer-term 100- and 200-period simple moving averages (SMAs) are endorsing the broader bearish bias, while the softened slope of the 50-period SMA is promoting further consolidation in the pair. The short-term oscillators are reflecting frail directional momentum. The MACD and the red trigger line have converged with the zero threshold, while the RSI is flirting with the 50 neutral [..]

US Open Note – US CPI beats expectations and rises by 8.3%; dollar moves up again

Posted on May 11, 2022 at 1:36 pm GMT

The CPI rate ticked up by 8.3% in the year that ended in April. The annual CPI decrease was the first since August, but it was the eighth month in a row of gains of more than 6%. In March, the Consumer Price Index (CPI) rose 8.5% year-over-year, the highest increase since December 1981. After the release of higher-than-expected CPI figures, the dollar initially rose. The dollar index is showing positive signs as it jumped beyond 104.00; however, US futures are leading lower, suggesting a [..]

Daily Market Comment – Mood brightens slightly ahead of US CPI as investors eye peak

Posted on May 11, 2022 at 9:25 am GMT

Dollar stays subdued as US CPI data awaited for clues on peak inflation Euro edges up as ECB preps for summer rate hike Equities attempt a rebound, falling infections in China lend some support Dollar slips before US inflation reveal Markets were in a cautiously optimistic mood ahead of the April inflation report out of the United States later on Wednesday, as investors geared up for a possible soft print this time after months of acceleration in the headline figure. [..]

US Open Note – Dollar steadies as it awaits US CPI data

Posted on May 10, 2022 at 12:50 pm GMT

Fed speakers today and US CPI tomorrow in focus This week, Fed speakers will be out in full force to disseminate the latest views of the central bank. Each one of these officials has a chance to share their thoughts on current policy. Barkin did this last week and put 75 bp back on the table, stressing that he wants to raise rates “as quickly as possible.” Others at the Fed are also likely to adopt a more hawkish outlook in the coming days. But the main thing to [..]

Daily Market Comment – Stocks steadier after Wall Street selloff, dollar eases

Posted on May 10, 2022 at 9:10 am GMT

S&P 500 plunges below 4,000, Nasdaq crashes 4%, but futures turn positive today Dollar edges down as yields cool off slightly ahead of Fed speakers, US CPI Oil remains under pressure as EU waters downs Russian oil embargo Stock market rout deepens Equity markets have steadied on Tuesday as investors licked their wounds following the heavy losses at the start of the week that extended the post-Fed meeting selloff. Growth and mega-cap tech stocks led the carnage on Wall Street [..]

US Open Note – Stocks remain heavy, failing to form foothold after Fed vibe

Posted on May 9, 2022 at 1:38 pm GMT

Rising US yields feed dollar resilience as FOMC meeting in rear-view mirror In the previous week, we had the US central bank chief, Jerome Powell reiterate that the Federal Reserve will in June begin to reduce the close to $9 trillion hoard of assets gathered throughout the pandemic period, in an attempt to help bring inflation to the desired levels. While the Fed delivered a 50-basis points hike, raising the benchmark overnight rate to 1.00% last Wednesday, markets are still [..]

Technical Analysis – EURUSD buyers struggle to make advances

Posted on May 9, 2022 at 9:22 am GMT

EURUSD is tiptoeing around more than five-year low levels and the pair’s efforts to improve seem to be to no avail, leaving no fingerprint of clear gains as the bearish bias overwhelms. That said, the falling simple moving averages (SMAs) are endorsing the downward trajectory in the pair. Currently, the downward sloping Ichimoku lines are indicating that the sellers are active, while the short-term oscillators are now transmitting mixed messages in directional impetus. The MACD is reflecting easing in negative [..]

Daily Market Comment – King dollar reigns supreme as stocks keep sliding

Posted on May 9, 2022 at 9:01 am GMT

No stopping the mighty dollar, rising US yields provide fuel Stocks struggle for altitude amid Fed and China worries All eyes on US CPI data this week – peak inflation at last? Dollar power There’s no stopping the mighty US dollar, which continues to slice its way through the currency complex. Stress in equity markets, worries about a synchronized global economic slowdown, and the relentless grind higher in US yields continue to drive up demand for the reserve currency. Once [..]

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