All Articles Tagged - EURUSD

Daily Market Comment – Muted jubilation as Evergrande makes debt payment

Posted on October 22, 2021 at 9:14 am GMT

Relief as Evergrande averts default but China’s property woes not over Stocks mostly up but gains are modest as tech weighs Dollar hovers in recent range, eyes Powell speech for direction Commodity dollars bounce back, flash PMIs support euro and pound Evergrande interest payment calms nerves, slightly Embattled property giant, Evergrande, has reportedly paid its overdue interest on dollar-denominated bonds amounting to $83.5 million following weeks of speculation about its finances. Markets were taken by surprise from the news as [..]

US Open Note – Growth concerns bring risk-off into play; dollar’s slide halts

Posted on October 21, 2021 at 1:40 pm GMT

Stocks falter as risk-off returns Better-than-expected corporate earnings have been a boon to stock markets this month, with Southwest and American airlines flagging today that even the hardest-hit industries by the pandemic can still stand on their feet despite the energy crisis. Nevertheless, below the surface global economic warnings are still flashing red. The pandemic’s nasty supply shocks will probably keep fueling global inflation pressures for longer and businesses such as Unilever, will not hesitate to transfer costs onto consumers [..]

Daily Market Comment – Evergrande jitters return, yen climbs, dollar steady

Posted on October 21, 2021 at 9:10 am GMT

Evergrande shares plunge after sale of unit falls through, mood sours in equities Treasury yields ease back as Fed dampens early rate hike talk Yen bounces back, dollar edges up but commodity currencies take a tumble Stocks under pressure as Evergrande default risks grow Equity markets were feeling the strain of a fresh panic about China’s heavily indebted property sector after troubled real estate giant – Evergrande – told investors that the sale of its property services unit for $2.6 [..]

Technical Analysis – EURUSD struggles to expand beyond 1.1670

Posted on October 21, 2021 at 7:23 am GMT

EURUSD is moving slightly lower following the pullback off the 38.2% Fibonacci retracement level of the downward move from 1.1908 to 1.1523 at 1.1670 again. Technically, the RSI indicator is showing some weakening signals as it is pointing south in the negative region and the MACD is sloping down beneath its trigger line but is still above the zero level. However, the 20- and 40-period simple moving averages (SMAs) are heading up following the bullish wave on price that started [..]

US Open Note – Stocks oscillate near record highs; commodity currencies hold firm

Posted on October 20, 2021 at 1:50 pm GMT

Stocks consolidate gains as earnings surprise Stock markets have been relatively flat marginally below their summer record highs during early US trading hours on Thursday, with the pan-European STOXX 600 consolidating last week’s impressive rebound and US stock indices switching between gains and losses. While investors were almost convinced that higher input costs, labor shortages and lack of raw materials would raise serious concerns among companies, the earnings season has surprisingly been a tailwind to equity markets so far, showing [..]

Could Eurozone flash PMIs hinder euro’s bullish breakout? – Forex News Preview

Posted on October 20, 2021 at 10:37 am GMT

As supply crunches hit global economies and inflation perks up, investors will look for any red economic signals in the Eurozone when flash Markit PMI figures for October come out on Friday at 08:00 GMT. The data are expected to provide a bitter taste on the matter, reflecting a fading economic recovery for another month, with the euro likely facing fresh headwinds against its recent bullish attempts. Euro aims for weekly gains, but fundamentals are discouraging The latest rebound in global bond yields knocked [..]

Daily Market Comment – Dollar steadies as yields climb, Wall Street edges closer to record highs

Posted on October 20, 2021 at 8:46 am GMT

Dollar off lows as 10-year yield hits 5-month high but Fed rate hike still seen lagging others Yields likely to stay in spotlight as raft of Fed speakers coming up Strong earnings drive S&P 500 to fifth day of gains, but futures slip Rate repricing underway Expectations that high inflation is here to stay continued to firm in the bond markets, sending global bond yields to fresh highs in the last 24 hours. With energy and metal prices still soaring, [..]

US Open Note – Stocks buoyant, dollar slips and gold improves

Posted on October 19, 2021 at 1:55 pm GMT

Sentiment upbeat as US yields retreat; FOMC speakers to draw focus The recent climb in US stocks appears supported by gains in the technology and communication service sectors. Moreover, expectations of strong earnings and the stabilization in longer-term yields, after a drop, are not aiding the greenback. Despite the pickup in sentiment, inflationary concerns and the energy crisis seem to be risks that may drag on for a while longer. The dollar index surrendered ground from the 94.00 mark down [..]

Technical Analysis – EURUSD moves up from 15-month low

Posted on October 19, 2021 at 1:50 pm GMT

EURUSD’s upward momentum off a 15-month low of 1.1520 is pushing towards the 1.1665 threshold. The pair’s short-term bearish trend is being supported by the pair’s falling simple moving averages (SMAs) despite the latest jump above the 20-day SMA. The MACD has crossed over its red trigger line, which is some distance below zero, while the RSI is moving towards the 50 level. If buyers push the price higher, immediate resistance might emerge from the area between the nearby 23.6% Fibonacci retracement level [..]

Daily Market Comment – Dollar slumps, stocks advance amid earnings optimism

Posted on October 19, 2021 at 9:08 am GMT

US tech rebound leads global stocks higher as earnings season about to heat up Dollar plunges as mood improves and Fed seen falling behind in the tightening race Riskier currencies power ahead as US yields fall back Focus on earnings as jitters subside Worries about soaring inflation, supply-chain chaos and slowing growth in China were put on the back burner on Tuesday as investors turned their attention on the Q3 earnings season that kicked off last week with a bang. [..]

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