All Articles Tagged - EURUSD

Daily Market Comment – Bank of Canada showtime, US spending deal in sight

Posted on October 27, 2021 at 9:03 am GMT

BoC rate decision today could spark fireworks in the loonie Yen awaits BoJ meeting, aussie in focus after inflation stats Earnings season fires up but all eyes on Capitol Hill BoC to validate market pricing? The main event today will be the Bank of Canada decision at 14:00 GMT, which will likely spark fireworks in the loonie as policymakers either validate market expectations for an aggressive rate hike cycle or tone them down. Money markets are pricing in almost four [..]

US Open Note – Stocks around highs, dollar flat, and gold’s resilience tested

Posted on October 26, 2021 at 2:04 pm GMT

Sentiment improves but focus remains on BOC, ECB, and US GDP figures The dollar seems to be flat ahead of Thursday’s GDP figures, scheduled for 12:30 GMT. Even if the GDP figures disappoint, the damage could be largely short-lived because on the horizon is an FOMC meeting on November 3, expected to signal the start of tapering and possibly depict a clear tapering timeline. Moreover, an imminent huge infrastructure bill is on the cards, which the US Congress is working [..]

ECB could play some defense – Forex News Preview

Posted on October 26, 2021 at 1:46 pm GMT

The European Central Bank (ECB) will wrap up its latest meeting at 11:45 GMT Thursday. Markets are pricing in the first rate increase for next year, which seems premature as the region continues to grapple with growth risks. The ECB could push back against this pricing, playing down the possibility of an early rate hike and consequently dealing a blow to the euro. Eurozone under pressure The macroeconomic landscape in the Eurozone has deteriorated significantly in recent months. With the [..]

Daily Market Comment – Euro slides, Wall Street conquers new heights

Posted on October 26, 2021 at 8:45 am GMT

US stock markets set new records as Tesla goes into overdrive Euro falters ahead of ECB meeting, sterling comes back online Iran talks keep a lid on oil prices, gold cruises higher Tesla goes ballistic Wall Street started the week in good spirits. The heavy lifting was done by Tesla, which rose 12.6% to become a trillion-dollar company after it received a large order, propelling the S&P 500 to new records. The news sent the stock into an unreal ‘gamma [..]

US Open Note – Calm day ahead of busy week; oil around $85

Posted on October 25, 2021 at 1:00 pm GMT

US futures near new highs; Facebook releases its earnings Today’s economic calendar is light, but the rest of the week promises to be very interesting, with central bank meetings in the Eurozone, Canada, and Japan, as well as earnings reports from the technology industry’s heavy hitters. Facebook will launch the earnings campaign immediately following Wall Street’s closing bell. It is somewhat bizarre to watch US futures trading marginally lower from their all-time highs, even as inflation predictions continue to rise. If the tech sector earnings approve, the [..]

Daily Market Comment – Stocks defy gravity, oil storms higher, dollar retreats

Posted on October 25, 2021 at 8:52 am GMT

Stock markets hover near record highs despite mounting risks Dollar pulls back, sterling in BoE limbo, Turkish lira collapses Action-packed week ahead with three central banks and tech earnings It’s still about inflation The overarching market theme continues to be how persistent this inflation episode will be and whether central banks will go into battle to suppress it. Hopes that price pressures will fade by themselves have all but vanished as the energy crisis burst into the spotlight, propelling inflation [..]

Technical Analysis – EURUSD flirts with 1.1665 again bound by short-term SMAs

Posted on October 25, 2021 at 6:24 am GMT

EURUSD has hardly gained ground above the 15-month low of 1.1523, although the recent weak bullish effort could see further extension above the 1.1665 strong resistance level. The RSI indicator is trying to improve above the neutral threshold of 50 and the MACD oscillator is moving above its trigger and zero lines. If the favorable scenario comes to fruition, the 1.1665 barrier may be the first to attract interest. This is also close to the 40-day simple moving average (SMA), which is at [..]

Global stocks advance; gold accelerates ahead of Powell’s speech – US Open Note

Posted on October 22, 2021 at 1:21 pm GMT

Evergrande’s default delayed While everyone was convinced that the endgame for Evergrande was a certainty, China’s indebted property giant made a last-minute $84mln interest payment overnight, avoiding an official default ahead of its 30-day deadline expiring this weekend. The news brought some risk-on back into play on Friday, propping stock markets and underpinning commodity-dependent currencies such as the aussie and the kiwi, though whether the company can only delay an imminent default remains to be seen. For the time being, [..]

Weekly comment – ECB and BoC to go their separate ways

Posted on October 22, 2021 at 1:19 pm GMT

Optimism returned to stock markets as a stellar earnings season calmed nerves, pushing investors away from the safety of the USD. The upcoming week is huge, with three central bank meetings, the tech titans reporting earnings, and a ton of crucial economic data to keep things exciting. The highlights: The ECB meets on Thursday and could push back against market pricing for a rate increase next year, since the European economy is still grappling with stagflation risks. That could inflict [..]

Week Ahead – ECB, BoC, and BoJ meetings in the spotlight

Posted on October 22, 2021 at 11:28 am GMT

It’s a huge week ahead, with three central bank meetings and a storm of data releases that will reveal how the major economies performed amid paralyzed supply chains. The Bank of Canada might signal that powerful rate hikes are coming, whereas the European Central Bank could push back against speculation of early tightening as Europe grapples with the energy shock. Similarly, investors may have gone too far with pricing in aggressive rate increases in the UK and Australia. BoC – [..]

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