All Articles Tagged - EURUSD

Technical Analysis – EURUSD tumbles to fresh 11-month low in descending channel

Posted on September 29, 2021 at 12:37 pm GMT

EURUSD is plunging to a fresh 11-month low of 1.1640 today, continuing the selling interest in a descending channel in the long-term. Regarding the technical indicators, the MACD is heading south in the negative territory, holding well below its trigger line, while the RSI is declining in the negative territory. Moreover, the 20- and 40-day simple moving averages (SMAs) are following the market price action. Immediate support could come from the 1.1610 barrier and the lower boundary of the downward sloping channel around 1.1550. [..]

Eurozone CPI: Inflation on the boil – Forex News Preview

Posted on September 29, 2021 at 9:33 am GMT

With Germany beginning a weeks- or months- long bargaining process of forming a three-party coalition after Sunday’s election resulted in a marginal victory for the left-centre SPD, the euro will shift its focus back to the economic calendar this week and particularly to the September CPI inflation figures due on Friday at 09:00 GMT. The data are expected to notch a 13-year high, flagging that the worst of inflation has not passed yet, but unless the news raises hawkish voices [..]

Daily Market Comment – Wall Street calms down after sharp selloff

Posted on September 29, 2021 at 8:53 am GMT

Rising rates and inflation worries torment stock markets Sterling crumbles despite mounting bets for BoE rate hikes Japan gets a new prime minister, China releases PMIs Yields go into overdrive Stock markets continue to dance to the tune of rising bond yields. It is not so much the magnitude of the spike in yields but rather the speed of this move that has caught investors by surprise. The burning question is what’s driving this sharp repricing in interest rates – [..]

US Open Note – Market sentiment dulls; dollar aided by climb in yields

Posted on September 28, 2021 at 1:40 pm GMT

Stocks pull back and dollar firms, ready to digest central bank speeches The US major indices are retreating as a result of a dampened market mood on the back of global energy uncertainties and rising yields, which have simultaneously underpinned the king dollar. Currently the 10-year yield is at 1.53% and may be adding to the haven appeal of the reserve currency, reinforcing its latest resilience. The dollar index floated up until 93.65. The greenback has strengthened across a basket [..]

Dollar turns to US data releases as yields spike – Forex News Preview

Posted on September 28, 2021 at 1:28 pm GMT

With yields going berserk, the upcoming batch of US economic data on Friday could be crucial for the dollar’s fortunes. Personal income and consumption numbers along with the Fed’s favorite inflation metric will hit the markets at 12:30 GMT, before the ISM manufacturing survey is released at 14:00 GMT. Overall, the outlook for the dollar remains positive against the euro and yen. Brace for earlier rate hikes The Fed is turning more hawkish. Chairman Powell stated quite clearly last week [..]

Daily Market Comment – Yen and tech stocks bleed as yields march higher

Posted on September 28, 2021 at 8:52 am GMT

Spike in bond yields plays havoc with yen and stocks Oil cruises higher amid dual energy crises in Europe and China Dollar firms, gold struggles, Powell testifies before Congress Yields spike The specter of rising interest rates has returned to haunt financial markets. The Fed breathed some life back into Treasury yields last week after it opened the door for a rate increase next year, and the rally has gone into overdrive this week thanks to some signs that inflation [..]

Eurozone economic sentiment on the radar; euro flirting with $1.17 – Forex News Preview

Posted on September 27, 2021 at 2:07 pm GMT

On Wednesday at 12:00 GMT, the Eurozone’s economic sentiment for September will be released. Over the last few months, the outlook for the euro area’s economy has steadily increased; however, as the European Central Bank (ECB) is unlikely to raise interest rates soon, the near-term direction is likely to be determined by the Fed instead of the ECB. The single currency is fluctuating around the $1.1700 handle, remaining under pressure. Economic sentiment expected to fall as PMIs releases disappoint In August, the economic sentiment eased to [..]

US Open Note – Dollar gains notable ground; oil continues the rise

Posted on September 27, 2021 at 12:44 pm GMT

Euro eases further after German elections The current week begins with traders’ attention on the German election results, but it serves as a reminder that politics is in full swing this week. The results of the German federal election showed that the centre-left SDP party won a small plurality, as expected. The government negotiations are expected to go until Christmas, according to some estimates. As a result, Merkel may keep her job as Chancellor for a few more months. The [..]

Daily Market Comment – No clear winner in German elections

Posted on September 27, 2021 at 8:46 am GMT

Euro pulls back after inconclusive German election Dollar balances faster Fed hikes against fading Evergrande fears Wall Street and oil prices keep climbing ahead of busy week Political deadlock in Germany? After a knife-edge election that produced no clear winner, several weeks of intense political negotiations lie ahead in Germany. The Social Democrats narrowly won the vote but the conservative CDU party was just a couple of percentage points behind, so both parties will now try to form a government [..]

Technical Analysis – EURUSD challenges floor of 2-month trading range

Posted on September 27, 2021 at 8:37 am GMT

EURUSD remains skewed to the downside with sellers looking ready to retest the nine-and-a-half-month trough of 1.1664, which has managed to deny downward forces from snowballing. The short-term bearish tone in the pair is also being endorsed by the slight dip in the simple moving averages (SMAs). At the moment the short-term oscillators are transmitting conflicting messages in directional momentum. The MACD, not too far beneath the zero threshold, is falling below its red trigger line, while the RSI is [..]

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