All Articles Tagged - EURUSD

ECB meeting: No right choices for the euro – Forex News Preview

Posted on March 8, 2022 at 2:53 pm GMT

The European Central Bank faces a tough dilemma when it concludes its meeting at 11:45 GMT on Thursday. With the crippling sanctions imposed on Russia, European growth will slow down but inflation will heat up as energy prices soar. Will the ECB accept a period of higher inflation and delay its exit from stimulus measures, or forge ahead with higher rates and risk a recession? For the euro, neither choice is attractive. ECB in a pickle The crisis in Ukraine [..]

US Open Note – Dollar and US futures look steady; gold shines

Posted on March 8, 2022 at 1:49 pm GMT

Ukraine – Russia tensions; rouble continues the drop Russia-Ukraine peace talks have made no headway, and despite Germany’s resistance to a ban on Russian energy imports, oil futures have fallen from a 14-year high reached on Monday. Analysts expect the supply shock to linger and harm growth in the coming months. A convoy of buses are on their way to Mariupol to evacuate civilians from the southern port, which has been cut off from food, water, electricity, and heat for more [..]

Daily Market Comment – Stocks crushed by relentless rally in oil as Ukraine crisis deepens

Posted on March 8, 2022 at 10:10 am GMT

Commodities surge across the board, heightening fears about a global recession Crude oil hits $130 a barrel, gold soars past $2,000/oz, but dollar slightly softer today Selloff in euro and equities takes a breather for now after fresh lows Markets seek respite as fighting continues The fighting in Ukraine is intensifying and a third round of talks between Russian and Ukrainian officials has not led to much progress, but markets are nevertheless taking a breather from the recent turmoil on [..]

Technical Analysis – EURUSD remains in freefall, seeks 261.8% Fibo support

Posted on March 7, 2022 at 7:28 am GMT

EURUSD is extending its downward spiral, approaching the 261.8% Fibonacci extension of the March-May 2021 upleg at 1.0794 earlier today. It has currently climbed back around 1.0880, but the momentum indicators suggest the selling pressure is not about to ease anytime soon. The MACD has fallen deeper into the negative territory, increasing its distance from the red signal line, while the %K and %D lines of the stochastic oscillator are both trending lower in the oversold region. The latter could [..]

Weekly Comment – ECB meeting and US CPI data eyed as the Russian invasion unfolds

Posted on March 4, 2022 at 2:05 pm GMT

The Russian invasion of Ukraine continues to drive the risk-off sentiment in global markets. However, during his Congressional testimony, Fed Chair Jerome Powell played down the prospect of a 50 basis points rate hike in March, lifting US equities. In the upcoming week, the European Central Bank monetary policy meeting together with inflation data from the US and China will take centre stage. Highlights: On Thursday, the ECB will conclude its monetary policy meeting as the war in Ukraine elevates energy prices, [..]

Week Ahead – ECB to lay out ‘patient’ stimulus exit; another eye-watering US CPI print expected

Posted on March 4, 2022 at 12:48 pm GMT

The European Central Bank’s much anticipated policy meeting and the latest consumer price index out of the United States will take centre stage next week amid the ongoing conflict in Ukraine. The crisis may not necessarily derail the ECB’s plans to normalize policy and a middle ground will likely be plotted. An expected jump in US inflation might have less impact this time following Jerome Powell’s endorsement for a 25-basis-point rate rise in March. Canadian employment numbers will also gather [..]

Daily Market Comment – Worries of nuclear accident wound euro, US jobs report next

Posted on March 4, 2022 at 9:39 am GMT

Fire at Ukrainian nuclear power plant gets extinguished Markets terrified initially but most assets retrace losses Euro is the exception – US nonfarm payrolls coming up next Nuclear catastrophe averted Russian forces attacked and captured Europe’s largest nuclear power plant. A nearby building was set ablaze from the intense shelling, sparking fears of a nuclear disaster similar to Chernobyl, until Ukrainian authorities reported the fire had been extinguished and the US Energy Secretary confirmed radiation levels remain normal. The initial [..]

Daily Market Comment – Oil charges higher again, creating a headache for ECB

Posted on March 3, 2022 at 9:34 am GMT

Crude oil rally goes into overdrive after OPEC offers no relief Euro under pressure, could get worse when ECB meets next week Powell doesn’t say much but stocks like that, peace talks resume Commodity markets panic The storm in commodity markets is turning into a hurricane. What started out as an energy shock because of the suffocating sanctions on Russia has started to broaden out, lighting a fire under food prices and metals. Oil prices have been at the tip [..]

Technical Analysis – EURUSD continues its downtrend move as bearish forces linger

Posted on March 3, 2022 at 8:34 am GMT

EURUSD maintains its downward trend, reaching levels last seen back in May 2020 as negative momentum persists. Moreover, the pair is currently trading well below its 50- and 200-period simple moving averages (SMAs), supporting an overall bearish outlook. The short-term momentum indicators are reflecting a mixed picture as the RSI is steady below its 50 neutral mark. On the contrary, the MACD is found below zero but marginally above its red signal line, which indicates that the negative momentum in [..]

US Open Note – Stocks stabilize, dollar’s rally active and yields remain lower

Posted on March 2, 2022 at 3:18 pm GMT

US ADP payroll report, Fed’s Powell, and BoC today’s highlights The greenback continues to hold strong as oil prices rocket far north of the $100 per barrel level, and risk-off signals linger, fuelling questions about the outlook for tightening from the Federal Reserve. The war in Ukraine is clearly one of the clear drivers for hotter inflation from energy pressures as rejected Russian supplies of oil blunt the growth outlook around the world. The US 10-year yields are lower from [..]

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