All Articles Tagged - EURUSD

Technical Analysis – EURUSD kicks off a depressing start to 2022

Posted on January 3, 2022 at 7:52 am GMT

EURUSD opened on the negative side in the first trading day of 2022, unable to crawl above the 1.1370 resistance and the 50-day simple moving average (SMA) despite Friday’s last-minute pickup. The momentum indicators, however, continue to reflect a neutral-to-bullish bias, signaling the bulls may not abandon the battle yet. With the MACD remaining elevated above its November lows, and set to enter the positive territory, and the RSI having extended its uptrend above its 50 neutral mark, there is an opportunity [..]

Week Ahead – NFP report to kick off New Year, inject life into muted FX market

Posted on December 30, 2021 at 4:18 pm GMT

Markets have been dead quiet during the holiday period but the upcoming week is guaranteed to bring increased volatility. The nonfarm payrolls report along with the FOMC minutes and a host of other US data are bound to wake markets up, while employment and inflation numbers out of Canada and the Eurozone, respectively, should also liven things a little. Although several major pairs have been rebounding against the US dollar and Wall Street has been notching up one record high [..]

Weekly Comment – US jobs and PMI data eyed as Omicron cases surge

Posted on December 30, 2021 at 2:47 pm GMT

Stocks staged a post-Christmas rally, reaching new highs amid thin trading volumes. Meanwhile, the Japanese yen has emerged as the undisputed loser in the FX arena, as Omicron fears ease, prompting traders to shift into riskier assets. In the upcoming week, the latest US employment data and FOMC minutes take center stage, together with a raft of PMI data from most major economies and European flash inflation figures. Highlights: Final Manufacturing PMI data for the Eurozone, US, UK, Japan and [..]

US Open Note – US stock futures at record highs, dollar ticks slightly higher

Posted on December 30, 2021 at 2:28 pm GMT

Positive sentiment supported by strong US jobless claims US stock futures have managed to remain near record highs, while trading volumes have narrowed and liquidity is drying up as the trading doors near closure for 2021. The question at year end is what effects from the rapidly spreading Omicron variant will rollover into the new year, especially as infections have been hot. Also, how will economies start to fare in the new year with an environment where stimulus is diminishing, [..]

Daily Market Comment – Wall Street hits another record but trading remains slow, dollar oscillates

Posted on December 30, 2021 at 10:16 am GMT

Stocks mixed after more US all-time highs as trading volumes thin out further Investor optimism put to the test amid surging Covid cases globally Dollar rebounds from lows as Treasury yields spike Surging virus cases put investors on edge Markets stuck to the mildly positive tone on Thursday as investors constantly reassessed the risks from the latest wave of Covid-19 cases that is gripping most nations around the world. The shrinking liquidity during this slow holiday week has brought about [..]

US Open – Stocks set for a muted opening; Omicron fears ease

Posted on December 29, 2021 at 1:34 pm GMT

Omicron not yet a problem for the US economy; dollar firms Omicron fears are easing on growing evidence that the fast-spreading variant leads to milder symptoms. This has prompted optimism about the US growth outlook as the strain has not yet weighed on economic data, despite the surging daily cases of the past week. The Richmond Fed’s manufacturing survey released on Tuesday rose in December beating consensus estimates. Firms reported their intention to continue raising wages to attract and retain [..]

Daily Market Comment – Santa Claus rally takes a breather, dollar firms

Posted on December 29, 2021 at 9:37 am GMT

Stocks mixed after Wall Street rally fizzles out, but futures point up Dollar inches higher, yen firms too amid some Omicron worries Oil extends gains, gold pulls back despite soft Treasury yields Wall Street falters but party not over Equity markets were feeling somewhat less joyous on Wednesday after the S&P 500 failed in its bid to close above the 4,800 level for the first time and as Chinese tech stocks came under renewed selling pressure. The S&P 500 ended [..]

US Open Note – Stocks imply a risk-on tone, greenback stabilizes around 96 mark

Posted on December 28, 2021 at 2:46 pm GMT

Dollar’s shine dulls in forex arena; are Omicron risks set to rise? The chaotic 2021 period is soon coming to an end and the lack of market driving news on today’s economic calendar is unlikely to help this year to leave with a bang. That said, major US index futures are persisting around their all-time highs suggesting that positive market sentiment may roll over into the new year. It seems that markets have become robust against fresh threats from the [..]

Technical Analysis – EURUSD moves sideways in narrow range

Posted on December 28, 2021 at 1:29 pm GMT

EURUSD seems to be trading in a narrow range, something also reflected in the flattening out of the slope of the 20-day simple moving average (SMA). The directionless Ichimoku lines and the horizontal shifting cloud further reflect this view. That said, the short-term oscillators, although somewhat stalled, are leaning towards a positive picture. The MACD, in the negative region, is holding above its red signal line, while the RSI is hovering near the neutral threshold of 50. In the event of fresh negative pressures, initial tough support could develop from the 20-day SMA [..]

Daily Market Comment – Stocks lifted by new S&P 500 record, yen retreats

Posted on December 28, 2021 at 10:10 am GMT

Global stock markets get a lift from S&P 500’s latest dash to new all-time highs Dollar holds steady but yen on a broad pullback amid easing Omicron jitters Oil bounces back as demand worries subside, gold hits one-month high Wall Street’s Santa rally not over yet Shares on Wall Street continued to rally on Monday to notch up a fourth straight day of gains, pushing the benchmark S&P 500 index to a new all-time high of 4,791.19. Having started the [..]

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