All Articles Tagged - EURUSD

US Open Note – Stocks mark a rosy start to the month; FX markets in quiet trading

Posted on November 1, 2021 at 2:59 pm GMT

New record highs for stocks Looking solely at stock markets, one could get the impression that nothing goes wrong, and the remaining pandemic constraints are just a tentative phenomenon, which still allows economies to run up and grow. Of course, some key stocks such as Facebook and Amazon could not jump back into uncharted waters following their earnings releases last week, though overall, guidance from businesses has surprisingly signaled little concern about their future performance. As a result, the pan-European [..]

Technical Analysis – EURUSD pauses near 200-weekly SMA after harsh decline

Posted on November 1, 2021 at 8:48 am GMT

EURUSD’s rally was harshly rejected just below the 1.1700 level and near the 50-day simple moving average (SMA) on Friday, with the price crossing all the way down to test the 14-month low of 1.1528. The short-term risk is looking neutral to bearish as the RSI is trying to regain strength after dipping below its 50 neutral mark and the MACD is set to cross back below its red signal line in the negative territory. A clear bearish cross between [..]

US Open Note – Stocks near highs, dollar licks its ECB wound

Posted on October 29, 2021 at 1:35 pm GMT

Infrastructure negotiations to delay Biden’s deal a bit and September PCE in focus US stock futures and the dollar have been trying to make sense of all drivers in the market, with a packed week of data, central bank decisions, earnings making their mark, an energy crisis hurting China, the eurozone and the UK, and infrastructure talks in its final stages. Despite Thursday’s miss in US Q3 GDP results, the recently elevated dollar seems to have kept its resilience and [..]

Weekly comment – Central bank fiesta, OPEC meeting, and nonfarm payrolls

Posted on October 29, 2021 at 1:29 pm GMT

The EUR jumped after the ECB didn’t convince investors it will delay rate hikes while stocks cruised higher as the earnings season cheered up the mood. Next week promises even more fireworks with central bank meetings in America, the United Kingdom, and Australia, an OPEC decision that will decide the direction of oil prices, and the latest US employment report. The highlights: The USD will be in the spotlight, as the Fed concludes its meeting on Wednesday and nonfarm [..]

Week Ahead – Dollar braces for Fed and NFP but will BoE steal the limelight?

Posted on October 29, 2021 at 12:58 pm GMT

The Fed’s long awaited tapering announcement will headline the coming week, with the October jobs report adding to the excitement. The Reserve Bank of Australia also has scheduled a regular meeting. However, it is the Bank of England that could roil markets the most as it ponders whether to raise rates early to fight burgeoning inflation. Employment data in Canada and New Zealand will be the other highlights on the data front, while OPEC’s monthly get-together is unlikely to yield [..]

Technical Analysis – EURUSD eases after significant bullish day

Posted on October 29, 2021 at 12:49 pm GMT

EURUSD is continuing the fall after pulling back from the 40-day simple moving average (SMA) at around 1.1670 and is still trading in a long-term descending channel. A decline is being seen in the RSI indicator as it is approaching the neutral threshold of 50, while the MACD continues to rise towards zero. The 1.1665 resistance level is the first barrier that needs to be overcome followed by 1.1715, which is within striking distance of the 23.6% Fibonacci retracement level of the decline from 1.2350 to 1.1523. If this level is [..]

Daily Market Comment – Euro spikes higher as ECB fails to convince markets

Posted on October 29, 2021 at 9:28 am GMT

ECB strikes a dovish tone but investors just don’t buy it Bond market pricing in slowdown, US spending deal done Tech earnings disappoint, Japanese elections on the menu Teflon euro The European Central Bank said all the right things yesterday. President Lagarde highlighted that market expectations for a rate increase next year are not realistic and stressed this inflation episode remains transitory, but the euro still stormed higher alongside European yields. Investors are just not buying what the ECB is [..]

ECB plays down rate hike scenario but euro flies to fresh session highs – US Open Note

Posted on October 28, 2021 at 2:21 pm GMT

Global flattening of yield curves A flattening of global bond yield curves gained momentum on Thursday, ratcheting concerns about the pace of economic growth as more central banks start to signal higher interest rates in the foreseeable future amid the persisting inflationary pressures. Specifically, the 2-year Treasury yield climbed to the highest since March 2020 on Wednesday, narrowing the gap with the 10-year yield, while the Canadian and Australian equivalents marked a multi-year daily increase following the hawkish rate statement from [..]

Daily Market Comment – Will ECB fight market pricing for early rate hikes?

Posted on October 28, 2021 at 8:18 am GMT

ECB could tone down market expectations today, hurting euro Loonie jumps after BoC terminates QE program but oil prices weigh Stocks retreat amid worries of central bank error, US GDP eyed Euro reality check? The spotlight will fall on the European Central Bank (ECB) today, which will conclude its latest meeting at 11:45 GMT. Stagflation risks have engulfed the euro area economy lately with the mayhem in supply chains, collateral damage from China, and the calamity in energy prices threatening [..]

US Open Note – Bank of Canada takes center stage; dollar loses momentum

Posted on October 27, 2021 at 1:11 pm GMT

BoC rate decision coming up The Bank of Canada’s interest rate decision is the main event of the day. Policymakers are predicted to leave rates unchanged at 0.25%. Economic growth has fired up, inflation is hot, businesses are feeling optimistic, the housing market is booming, and oil prices continue to climb. Macroeconomic projections that will be updated may provide some hints. The CPI for September came in at 4.4% year on year, more than double the target of 2% and significantly higher than the intended range of 1-3%. Retail sales and employment data [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

EURUSD

XM Live Chat