All Articles Tagged - EURUSD

Market Comment – Dollar headed for third weekly gains as stock rally cools

Posted on June 21, 2024 at 8:53 am GMT

Dollar stands tall after SNB cut and BoE’s dovish hold Yen enters intervention zone as Japan’s underlying inflation falls Euro slips on weak PMIs, US PMIs next in focus Nasdaq tumbles as Nvidia hit by profit taking ahead of triple witching Fed cut hopes not enough to dent the dollar The US dollar looks set to finish the week higher, extending its winning streak to a third week. Whilst signs of a cooldown in inflationary pressures as well as the [..]

Week Ahead – US PCE inflation the highlight of a relatively light agenda

Posted on June 21, 2024 at 7:25 am GMT

Core PCE inflation to test bets of two Fed rate cuts in 2024 Yen awaits BoJ Summary of Opinions, Tokyo CPI Canadian CPI data also enters the spotlight Will PCE data confirm Fed rate cut bets? Although the Fed’s updated dot plot pointed to only one quarter-point reduction by the end of the year, the softer-than-expected CPI numbers a few hours ahead of last week’s decision did not convince market participants about officials’ intentions. The weaker-than-expected retail sales numbers [..]

Euro on firmer footing ahead of flash PMIs as French risks subside – Preview

Posted on June 20, 2024 at 8:55 am GMT

Euro rebounds as French election fears ease June PMIs to come into the spotlight amid more cautious ECB Flash estimates are due on Friday at 08:00 GMT Calmer week for the euro after French turmoil European assets are having a better week following the market panic sparked by the rise of the far right across the continent in the European Parliament elections on June 9. But the biggest shockwave came from French President Emmanuelle Macron’s decision to call a snap [..]

Market Comment – Fedspeak and US data could prop up the dollar

Posted on June 20, 2024 at 8:34 am GMT

Back in action with a full US data calendar and Fedspeak BoE meets but unlikely to produce headlines SNB cuts rates and remains willing to intervene in FX markets Yen underperforms as Japanese officials remain quiet Dollar remains on the back foot The rare mid-week day-off in the US is over with the market mostly preparing for tomorrow’s key release of the preliminary PMI surveys, which are critical for the euro area. The relaxation of both the political fears regarding [..]

Market Comment – Wall Street sets another record after soft US retail sales

Posted on June 19, 2024 at 8:47 am GMT

Risk appetite buoyed by signs of weakening US consumption Wall Street closes at record highs ahead of US holiday, oil also rallies Pound edges up as services CPI remains sticky despite drop in headline September rate cut hopes get a boost US retail sales fell short of expectations on Tuesday, in another sign that consumers in America have started to rein in their spending. Retail sales increased by just 0.1% m/m in May following a downwardly revised decline of 0.2% [..]

Volatility skyrockets in FX and stock markets – Volatility Watch

Posted on June 18, 2024 at 10:16 am GMT

Euro and pound pairs are very volatile but for different reasons Volatility is extremely low in the commodity sphere US and global equities exhibit volatility jump, Bitcoin seems quiet Volatility in euro crosses has picked up as the region suffers from political instability following the EU elections and fears of a renewed debt crisis. Also, pound pairs are very volatile ahead of the May UK CPI report on Wednesday and BoE rate decision on Thursday. In commodities, gold and silver have been exhibiting low volatility amid a period of rangebound [..]

Market Comment – Fedspeak and US retail sales could test dollar’s resilience

Posted on June 18, 2024 at 7:54 am GMT

Fedspeak could prove market-moving this week Retail sales could surprise on the downside RBA members discussed again to hike rates Dollar still in charge but aussie rallies Fed speakers to move the market again? Amidst a holiday-shortened week, Fed speakers will be out in force, and it will be interesting to see if the hawks adopt an even more aggressive rhetoric. Minneapolis Fed President Kashkari has already commented that “it’s reasonable that a rate cut could come in December” with [..]

Soft retail sales could curb Fed hawks’ rhetoric – Preview

Posted on June 17, 2024 at 1:48 pm GMT

Market ponders the Fed’s stance after a hawkish gathering Retail sales to reveal the strength of domestic demand Dollar on the front foot; could suffer if data weaken this week The May retail sales report will be released on Tuesday 12:30 GMT At last week’s Fed meeting, consumer spending featured briefly in Chairman Powell’s press conference. The focus was firmly on the May inflation report and the Fed’s dot plot. Even though Powell tried to reduce the importance of the [..]

Technical Analysis – EURUSD returns higher after 6-week low

Posted on June 17, 2024 at 12:49 pm GMT

EURUSD remains below descending trend line RSI and MACD below their mid-levels EURUSD slipped beneath the long-term descending trend line, driving the price towards a fresh six-week low of 1.0667. Also, the pair dived below the simple moving averages (SMAs), indicating more declines. The RSI is moving marginally up below the neutral threshold of 50, while the MACD is strengthening its bearish momentum beneath its trigger and zero lines. In case that the price remains below the 1.0720 resistance level, [..]

Technical Analysis – EURUSD battles with 61.8% Fibo

Posted on June 17, 2024 at 12:38 pm GMT

EURUSD drops to a fresh 1-month low after violating SMAs Quickly recoups some losses and challenges 61.8% Fibo Oscillators suggest that bearish forces are strengthening EURUSD has undergone some volatile sessions in the past few days, eventually dipping beneath both its 50- and 200-day simple moving averages (SMAs), to a fresh one-month low. Also, the pair broke below its descending trendline in place since December further deteriorating the technical outlook Should the recent weakness persist, the price could challenge its one-month [..]

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