All Articles Tagged - EURUSD

Technical Analysis – EURUSD bounces off 15-month high of 1.1520

Posted on October 14, 2021 at 1:07 pm GMT

EURUSD has barely risen over its 15-month low of 1.1520 set on Tuesday, while the latest bullish attempt may possibly see further continuation based on the technical picture. The MACD oscillator is gaining momentum above its trigger line in the negative region, while the RSI is pointing upwards in the bearish territory. If the optimistic scenario plays out, the 1.1665 level may be the first point of attention for investors. If this level is breached, the upside risk might continue all the way [..]

Daily Market Comment – Stocks and gold recover as Fed path gets recalibrated

Posted on October 14, 2021 at 9:08 am GMT

Expectations of earlier but shallower Fed rate path revive optimism Dollar retreats, stocks and gold recover as long-dated yields drop China’s factory prices soar, central bank speakers in focus Fed repricing Investors are having second thoughts about the structure of the Fed’s rate hike cycle. The latest moves in the bond market suggest the FOMC will pull the hike trigger early to tame inflation but the final destination in rates won’t be very high. In other words, an earlier but [..]

Technical Analysis – EURUSD prods past 50-MA and makes headways into cloud

Posted on October 14, 2021 at 8:57 am GMT

EURUSD is testing the 100-period simple moving average (SMA) at 1.1620, which coincidentally is blending with the Ichimoku cloud’s upper band, after the pair produced some positive impetus off the near 15-month low of 1.1523. The negative bearing of the 50-period SMA has stabilized, showing an easing in downward forces, while the falling 100- and 200-period SMAs are defending the bearish trend. The Ichimoku lines have yet to verify the growing positive momentum, while the short-term oscillators are demonstrating a [..]

US Open Note – Dollar remains stable after CPI and before FOMC Minutes

Posted on October 13, 2021 at 1:11 pm GMT

US CPI data jumps to 13-year high; dollar still firm The main event today was the release of the US CPI data ahead of the FOMC minutes later in the session. The annual inflation rate increased to a 13-year high of 5.4%, up from 5.3% in August and beyond market estimates of 5.3%. Consumer prices increased by 0.4% monthly, slightly exceeding predictions of 0.3%. The dollar seems to be keeping its recent gains. USD/JPY is holding below the 34-month high of 113.70. However, the euro is recouping some losses, trading near $1.1565, after [..]

Daily Market Comment – Dollar turns to inflation data for more fuel

Posted on October 13, 2021 at 9:08 am GMT

King dollar reigns supreme ahead of US inflation and Fed minutes Stock markets wrestle with spike in short-term yields Earnings season kicks off, gold fights back, oil takes a breather Dollar capitalizes on Fed bets The main event today will be the release of CPI inflation numbers from America, a few hours before the minutes of the latest Fed meeting. Both the headline and core CPI rates are projected to have held steady in yearly terms, albeit at very elevated [..]

US Open Note – Sentiment hushed as durable dollar climbs with yields

Posted on October 12, 2021 at 2:29 pm GMT

Markets look for clues in JOLTS data and FOMC speeches The current market picture is one of stubborn inflation, rising yields, and expectations of a nearing Fed announcement of the taper timeline, specifically in the November FOMC meeting. Global growth has somewhat slowed as the consequences from the energy crisis hamper economies. That said, markets will try to extract clues from Fed speakers over the week especially after the disappointing NFP payrolls from Friday. Rising yields are aiding the earlier [..]

Daily Market Comment – Yen smashed by rising yields

Posted on October 12, 2021 at 8:58 am GMT

Japanese yen gets hit by soaring bond yields and energy prices Stock markets continue to grapple with a myriad of risks Sterling weighs BoE rate hikes, euro/dollar remains heavy Nightmare environment for yen A powerful recovery in bond yields across the world is inflicting some serious damage on the Japanese yen. The Bank of Japan’s yield curve control strategy essentially keeps a ceiling on Japanese yields, rendering them unable to join the global rally and making the yen less attractive [..]

US Open Note – Yen is in vertical fall; oil surpasses $82

Posted on October 11, 2021 at 12:57 pm GMT

Yen plunges driving dollar/yen sharply higher As a new week begins, the yen continues to plunge, pushed lower by a comeback in Asian stocks despite a rise in Japanese yields. Indeed, the 10-year JGB yield, which is currently at 0.093%, is on its way to 0.1%. The pound is currently the strongest, thanks to hawkish statements from Bank of England officials over the weekend. The Australian Dollar is closely following, and it is leading other commodity currencies higher as well. The US dollar index is weakening, [..]

Daily Market Comment – Fed taper bets alive and well after NFP miss

Posted on October 11, 2021 at 9:27 am GMT

Treasury yields keep climbing after big miss in US payrolls, pressuring stocks Dollar mixed but steady, may get more direction from Fed and CPI data Pound edges up as BoE flags rate hike again but EU row casts shadow Is it still all systems go for Fed taper? The much anticipated jobs report on Friday raised a lot of question marks about how strong the momentum really is in the US labour market as nonfarm payrolls increased by just 194k [..]

Technical Analysis – EURUSD sets the stage for an upside reversal

Posted on October 11, 2021 at 7:34 am GMT

EURUSD has barely distanced itself above Wednesday’s 14-month low of 1.1528, but the recent faint bullish attempt could still see further continuation according to the technical picture. First the pair seems to have created a bullish inverted hammer candlestick near its recent lows before rotating higher – a sign that buyers could gain confidence in the near term. Then, the RSI and the fast-Stochastics have both registered a higher low after bottoming out in the oversold area, while the MACD [..]

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