All Articles Tagged - EURUSD

Daily Market Comment – Signs of progress in Russia-Ukraine talks lift stocks, dollar skids

Posted on March 30, 2022 at 9:32 am GMT

First significant progress in Russia-Ukraine talks boosts sentiment Stocks leap but rally runs out of steam quickly as recession risks loom Euro jumps, dollar takes a tumble but yen selloff steadies amid doubts about BoJ policy Hopes of Ukraine ceasefire rise after latest talks Russian and Ukrainian negotiators meeting in Turkey made the first meaningful progress to ending the month-long conflict on Tuesday, lifting the mood across financial markets. Ukraine proposed a new security guarantee mechanism in exchange for adopting [..]

Technical Analysis – EURUSD’s surge fuelled by hawkish ECB rhetoric

Posted on March 29, 2022 at 3:00 pm GMT

EURUSD has rocketed towards its descending 200-period simple moving average (SMA) at 1.1117, simultaneously testing the 1.1126-1.1143 resistance barricade that extends back to the early part of March. The 200-period SMA is defending the broader bearish bias, while the 50- and 100-period SMAs are not conveying any convincing trend in the pair. Currently, the soaring Ichimoku lines indicate a bump up in bullish forces, while the short-term oscillators suggest positive momentum may be lacking the backbone to drive the pair [..]

Daily Market Comment – Stocks perk up on peace talks, oil slump; pound knocked by dovish Bailey

Posted on March 29, 2022 at 9:29 am GMT

Equities look to be making a comeback as Russia-Ukraine talks eyed and oil surge eases Dollar softer despite elevated yields, pound steadier after skidding on Bailey’s remarks BoJ keeps buying JGBs but yen selloff takes a breather as officials get edgy about weakness Stocks head higher as sentiment improves Equity markets were in a bullish mood on Tuesday after the S&P 500 notched up its third straight session of gains yesterday, recouping more than 60% of its year-to-date losses. Heavyweights [..]

US Open Note – Yen dives sharply as BoJ buys unlimited bonds; oil back below 110

Posted on March 28, 2022 at 12:53 pm GMT

Dollar/yen rises to a fresh 6-year high The Bank of Japan reaffirmed its support for its Yield Curve Control aim; a statement of its dovishness. A record was set by offering limitless 10-year JGB purchases for three consecutive days at the YCC trading band’s upper limit of 0.25%. As of February 14, this was the BOJ’s first action since 2018, which marked the beginning of such purchases. According to the BoJ, the three-day operation was aimed to bolster YCC, and the timetable and amounts might [..]

Daily Market Comment – Yen sinks again as soaring yields lift dollar; oil hit by Shanghai lockdown

Posted on March 28, 2022 at 9:29 am GMT

BoJ steps in to preserve yield target as US 10-year jumps to 2.55%, dollar/yen shoots up Equities mixed as tepid optimism for Russia-Ukraine talks overshadowed by recession fears Oil prices slip again as China locks down Shanghai amid virus spike Yen goes back into freefall as BoJ defends yield ceiling After a short-lived bounce-back, the Japanese yen resumed its freefall in currency markets on Monday, sinking against all of its major peers. The latest nosedive came after the Bank of [..]

Technical Analysis – EURUSD continues to slide as positive hopes fade

Posted on March 28, 2022 at 8:43 am GMT

EURUSD is edging lower toward the 1.0900 handle after bullish developments in the pair were unable to overpower the 1.1100 hurdle. The falling simple moving averages (SMAs) are endorsing the 10-month bearish trend from the May 2021 high of 1.2266. Currently, the Ichimoku lines indicate that bearish forces remain active, while the short-term oscillators are skewed to the downside. The MACD is south of the zero threshold and looks set to return beneath its red trigger line, while the RSI [..]

Daily Market Comment – Yen swings higher, oil slips, stocks lack direction as war drags on

Posted on March 25, 2022 at 10:30 am GMT

EU refrains from banning Russian energy imports, shoring up euro but pushing oil lower Yen bounces back as BoJ absent from bond market, officials remark on FX stability Global equities go in different directions as geopolitical chaos blights outlook NATO, EU summits bring relief for euro but pain for oil The back-to-back meetings of NATO, G7 and EU leaders in Brussels on Thursday may have been a great show of Western unity against Russia’s actions in Ukraine, but they changed [..]

Week Ahead – Euro/dollar braces for US jobs and European inflation

Posted on March 24, 2022 at 3:59 pm GMT

The Fed keeps warning it will need to roll out the big guns in its battle against inflation. Traders have priced in faster rate increases to reflect this shift but the dollar hasn’t really benefited. Instead, it is the yen that has suffered. The coming week includes inflation stats from Europe and employment numbers from America, which combined could decide what’s next for euro/dollar. Fed leads the pack Fed officials are saying they are prepared to do whatever it takes [..]

US Open Note – US data enhance dollar as NATO summit begins

Posted on March 24, 2022 at 2:50 pm GMT

NATO summit could set the next phase in geopolitical crisis World leaders are attending a series of summits in Brussels on Thursday, as NATO, the G7 and European Union hold crisis talks over Ukraine. US President Joe Biden will take part in all three meetings amid a backdrop of destruction in Ukraine, frozen global business transactions, and rising energy and fertilizer prices. The ongoing Ukrainian geopolitical crisis is already developing into another inflation nightmare thanks to the sanctions war, and [..]

Daily Market Comment – Stocks inch higher, yen on a slippery slope ahead of NATO summit

Posted on March 24, 2022 at 10:38 am GMT

Markets await West’s next move on Russia as Biden in Brussels for NATO summit Stocks mostly up on solid PMIs despite yields also paring yesterday’s losses Yen extends slide, dollar keeps grinding higher as more hawkish Fed talk eyed Cautious mood as fresh sanctions likely during Biden trip It’s been a relatively calm but mixed start to the day as investors are waiting to see what new measures NATO leaders will agree on to curb Russia’s advances into Ukraine. US [..]

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