All Articles Tagged - EURUSD

Technical Analysis – EURUSD tests 1.12 handle, bearish bias remains active

Posted on November 24, 2021 at 2:57 pm GMT

EURUSD is tackling the 1.1200 mark logging a near 17-month low, after the curbing 100- and 200-period simple moving averages (SMAs) redirected the pair beneath the 1.1500 handle. The falling SMAs are defending the bearish trend in the pair. Furthermore, the short-term oscillators are sponsoring the downside, indicating that negative momentum is increasing. The MACD, some distance below the zero threshold, is pushing back underneath its red trigger line, while the RSI is steering lower in oversold territory. The stochastic [..]

Daily Market Comment – Oil laughs at strategic reserves release

Posted on November 24, 2021 at 9:44 am GMT

Oil jumps after US releases reserves, signaling it’s not enough Dollar relatively stable ahead of US data and Fed minutes Stocks mixed, RBNZ disappoints, Turkish lira implodes Oil unscathed After weeks of speculation, the United States announced that it will release 32 million barrels of crude oil from its strategic reserves to counter the supply deficit in energy markets and cool prices. Several other nations have joined this effort, but their combined contributions will amount to less than what America [..]

US Open Note – Dollar shines again as gold and lira prints losses

Posted on November 23, 2021 at 2:10 pm GMT

Biden’s Fed picks drives dollar up The Fed nomination decision caused some tremors in the financial markets on Monday. In the decision’s wake, futures markets have firmed up expectations for a rate hike in June, which had previously been biased towards July. Governor Brainard has been selected to replace Clarida as Vice Chair at the end of January next year. The US dollar index is extending its gains towards a fresh 16½-month high of 96.59, while dollar/yen is hovering slightly below the four-and-a-half year high of 115.15 that it posted earlier in [..]

Daily Market Comment – Powell renomination turbocharges dollar, sinks gold

Posted on November 23, 2021 at 9:29 am GMT

Dollar charges higher as Fed chief Powell gets a second term Stock markets pull back from record peaks, gold cracks European PMIs pause euro’s slide, RBNZ rate decision next Powell gives dollar more fuel The White House announced yesterday that Jerome Powell will get a second term as Fed Chair, while Lael Brainard will be promoted to Vice Chair. Even though the decision was as expected, the news still caught markets by storm, propelling the dollar higher as traders doubled [..]

US Open Note – US dollar kicks off the week higher as hawkish talk increases

Posted on November 22, 2021 at 2:02 pm GMT

US dollar slopes upwards amid upcoming monetary tightening The dollar’s upsurge seems to be continuing this week fueled by the Fed’s Vice Chair Richard Clarida, who signaled an imminent acceleration of the tapering program that could eventually result in earlier rate hikes. In addition, the greenback has also benefited from the rebound in Treasury yields today. However, President Biden is expected to reveal his nomination for the Fed’s chair before Thanksgiving on Thursday, where a possible designation of the more ‘dovish’ Brainard might push [..]

Daily Market Comment – Fed’s No. 2 hints at faster taper; dollar up but stocks stay calm

Posted on November 22, 2021 at 9:57 am GMT

Fed’s Clarida open to quicker tapering, but no panic yet in bond and equity markets Dollar eyes fresh highs as euro and pound keep bleeding; commodity dollars steadier Flash PMIs and RBNZ may spark some fireworks before Thanksgiving holiday Markets in positive spirits despite Fed and virus worries The Fed’s second in command may have just opened the door to a faster pace of tapering, but stocks nevertheless edged higher at the start of the week as there appeared to [..]

Technical Analysis – EURUSD sellers dominate but hit a snag around the 1.1254 mark

Posted on November 22, 2021 at 9:44 am GMT

EURUSD sellers have led the pair on a sharp decline towards 1.1249, a low last seen back in July 2020, where the price began a near two-month rally, which reached a 28-month high of 1.2010. The falling simple moving averages (SMAs) are nurturing the bearish structure in the pair. The negatively charged Ichimoku lines are indicating that downward forces have yet to subside, while the short-term oscillators are implying that negative momentum is gaining power again. The MACD is steering [..]

US Open Note – Stocks improve and dollar surges

Posted on November 19, 2021 at 2:17 pm GMT

King dollar comes on top as rate hike prospects grow US stock futures are near their highs but are showing minor slack, more so the S&P and Dow Jones composites than the Nasdaq 100. Expectations of lift-off in rate hikes in 2022, once tapering ends, has aided the reserve currency. The dollar index has shot back above the 96.00 mark, but USDJPY plunged past the 114.00 level and is currently around 113.80. While unlikely, should job projections be around pre-pandemic [..]

Eurozone PMIs in focus as euro takes a beating – Forex News Preview

Posted on November 19, 2021 at 1:02 pm GMT

Flash PMI numbers for the Eurozone will likely attract a lot of attention on Tuesday when they’re released at 09:00 GMT as the euro gets savaged in the currency markets. Expectations that the European Central Bank will lag other central banks in normalizing monetary policy remains the primary cause of the euro’s pain. But fresh concerns about the Eurozone economy have made investors even more nervous about the outlook lately. Can the PMI data bring some relief to the beleaguered [..]

Weekly Comment – RBNZ meeting and flash PMI reports take centre stage

Posted on November 19, 2021 at 12:00 pm GMT

The USD reached a 16-month high after a robust US retail sales report, suggesting that high inflation is not yet dampening consumer spending. In the upcoming week, a raft of PMI data and the Reserve Bank of New Zealand interest rate announcement will dominate the markets. The highlights: In New Zealand, the Reserve Bank is widely expected to raise interest rates on Wednesday. The country’s inflation rate has fired up, reinforcing the odds of a 50 basis points interest rate [..]

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