All Articles Tagged - EURUSD

Daily Market Comment – Energy risks plague stocks, oil joins the party

Posted on October 5, 2021 at 9:06 am GMT

Oil rallies after OPEC does nothing, intensifying energy crisis Stock markets take another hit, tech leading the way lower Dollar awaits ISM services survey, kiwi looks to RBNZ rate hike OPEC adds fuel to energy crisis The world’s dominant oil cartel did not accelerate its production increases yesterday, propelling oil prices to new multi-year highs and fanning the flames of the raging energy crisis. With natural gas and coal prices going through the roof lately, crude oil has joined the [..]

US Open Note – Stocks static and yields fail to aid dollar

Posted on October 4, 2021 at 2:22 pm GMT

OPEC and global energy risks; Central Banks and NFP report are drivers of the week Market uncertainty lingers but the greenback’s haven appeal remains muted, as a global energy crisis threatens recoveries across the globe. Stocks are slightly on the back foot to start the week and the dollar remains feeble as the 10-year yield provides no support. Uncertainty out of China around a property developer giant and rising energy prices, with the UK being hit the worst, maybe weighing [..]

Daily Market Comment – OPEC meeting in focus as energy crisis rages

Posted on October 4, 2021 at 9:14 am GMT

Wall Street rebounds after Merck covid pill, but sentiment fragile Dollar retreats a little as nonfarm payrolls week kicks off OPEC meeting today could be crucial amid unfolding energy crisis Stocks trapped in limbo Global markets continue to grapple with a variety of risks, from supply chains being in disarray to an energy crisis that has engulfed Europe and Asia, simultaneously threatening to hamstring economic growth and keep inflation hot for longer. This is precisely what the latest ISM manufacturing [..]

Technical Analysis – EURUSD points slightly up after meeting 14-month low

Posted on October 4, 2021 at 7:25 am GMT

EURUSD found strong support at the 14-month low of 1.1562 last week, turning up from the lower boundary of the descending channel. Technically, the RSI indicator is mirroring the latest bullish move and is moving above the oversold territory; however, the MACD oscillator is still extending its negative movement beneath its trigger and zero lines. In trend indicators, the 20- and 40-day simple moving averages (SMAs) completed a bearish crossover. Any advances beyond the 1.1610 resistance could open the way [..]

Daily Market Comment – Stagflation risks bite stocks, safe havens shine

Posted on October 1, 2021 at 9:24 am GMT

Stocks under pressure as investors grapple with ‘mini stagflation’ Yen and gold shine amid flight to safety, dollar stays elevated ISM manufacturing survey and Fed speakers in focus today Wall Street bleeds Worsening supply chain disruptions and a raging energy crisis have joined forces lately to reawaken fears of a stagflationary blow to the global economy. Stagflation refers to a situation where growth slows down but inflation remains hot, a combination that hasn’t emerged since the 1970s. With energy bills [..]

Week Ahead – US jobs report, RBNZ rate hike may further roil markets amid turbulence

Posted on September 30, 2021 at 2:17 pm GMT

Just as central banks thought it was safe to begin closing the taps on stimulus, warning signals are flashing red across the markets as fears grow of a sharp slowdown in growth in the major economies. However, policymakers are expected to stay on the tightening path for now, with the September jobs report likely giving the Fed the green light to taper in November, while the Reserve Bank of New Zealand will probably press on with a telegraphed rate hike. [..]

US Open Note – Greenback still in positive mode as US government shutdown averted

Posted on September 30, 2021 at 1:10 pm GMT

Dollar completes green days; initial jobless claims and GDP published The dollar is still in a surging mode, with dollar index being in positive green for the fifth day in a row, hitting fresh one-year highs of 94.50. Also, dollar/yen is completing a new 20-month high at 112.07. Euro/dollar is hovering near the 20-month trough of 1.1567, posting aggressive losses in the last days. Finally, cable found support near $1.34 and is returning north. US futures are pointing for a positive open [..]

Technical Analysis – EURUSD steps on 200-weekly SMA after a year

Posted on September 30, 2021 at 12:36 pm GMT

EURUSD is set to post its largest weekly loss since early June, plunging from an opening price of 1.1724 on Monday to a 14-month low of 1.1567 on Thursday. Hopefully, the 200-weekly simple moving average (SMA) has come on the radar for the first time in a year at 1.1574, increasing the likelihood for some recovery in the coming sessions. The RSI and the MACD are not fully in line with this narrative as they keep pointing downwards in the bearish territory, though both [..]

Daily Market Comment – King dollar reclaims throne, stocks stabilize

Posted on September 30, 2021 at 9:13 am GMT

Dollar powers higher as traders play defense, sterling in pain Stocks stabilize amid some bargain hunting but remain fragile Gold trades heavy, government shutdown vote in Congress today Dollar takes no prisoners The US dollar sliced through several crucial resistance barriers yesterday, reclaiming its throne as the king of the FX arena without any clear catalyst behind this powerful move. Some players are likely just playing defense, hedging against a range of devastating scenarios such as a persistent rally in [..]

US Open Note – Stocks struggle as upbeat dollar endures, gold recoups some losses

Posted on September 29, 2021 at 1:50 pm GMT

Market tone sparks concerns around high inflation and lagging growth Although the global energy crisis is putting pressure on economies resulting from China’s coal shortages, as well as rising natural gas prices and disruptions in oil production in the US, investors’ focus will shift towards the virtual panel discussion at the ECB Forum on Central Banking scheduled at 15:45 GMT, where central bank governors will participate. Yesterday, Chair Powell and Secretary Yellen touched on the fact that failing to raise [..]

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