All Articles Tagged - EURUSD

US Open Note – Stocks recover and dollar takes back seat

Posted on September 21, 2021 at 2:12 pm GMT

Market Sentiment picks up and central bank meetings draw focus The major US indices are gradually extending yesterday’s rebound while the dollar continues to dwindle. Nonetheless, as worries around China’s real estate giant Evergrande Group and its recent warnings of defaulting on its debt payments remain one of the global highlights, the spotlight continues to be directed around central banks. Investors continue to look for clues around meetings, with the BOJ expected to remain dovish and the Fed to comment [..]

Technical Analysis – EURUSD ticks up but retains bearish bias

Posted on September 20, 2021 at 2:53 pm GMT

EURUSD appears to have found a foothold around the 1.1700 handle after the 200-period simple moving average (SMA) curbed gains, resulting in a plunge in the pair. The SMAs are endorsing the decline, and the completion of an approaching bearish crossover of the 200-period SMA by the 50-period one could further reinforce negative pressures. The short-term oscillators are currently suggesting that negative momentum is fading. The MACD, far below zero, is flattening beneath its red trigger line, while the RSI [..]

US Open Note – China’s potential domino effect spooks stocks; dollar up

Posted on September 20, 2021 at 1:15 pm GMT

Stocks plunge as China’s Evergrande causes risk-off While the week was supposed to be all about the Fed and its tapering signals, increasing fears that Beijing will let its giant property developer Evergrande default on its $305 billion liabilities over a looming deadline for payment obligations brought another headache to global markets on Monday. The jitters popped up at a time when investors are growing sensitive to high valuations in stock markets and monitor signs of a slowing global economic [..]

Technical Analysis – EURUSD slides to 1.1700 as bears keep control

Posted on September 20, 2021 at 7:18 am GMT

EURUSD started the week in negative mode, stretching its two-week old bearish run closer to the 1.1700 base, which proved to be a solid ground for upside reversals in March and more recently in August, though to a lesser extent. The technical picture does not appear to be in the bulls’ favor as the RSI continues to dig lower within the bearish area, while the MACD has slipped back into the negative territory with stronger momentum. The Stochastics have not confirmed oversold [..]

Weekly Comment – USD up for second straight week ahead of FOMC

Posted on September 17, 2021 at 12:54 pm GMT

USD got a major boost from upbeat retail sales figures this week, which eased concerns that the US economy might be slowing too sharply. The strong data supports the case for the Fed to announce tapering on Wednesday. But the Fed decision isn’t the only one being eyed as central bankers in Japan, the UK and Switzerland also meet. The Highlights: The Fed will probably hold off from deciding to begin tapering at the September meeting and instead flag a [..]

US Open Note – Dollar back to gains at the end of the week

Posted on September 17, 2021 at 12:38 pm GMT

Dollar/yen back above 110.00 Prior to the weekend, the dollar is holding onto its recently gained ground, with dollar/yen approaching the 110.00 psychological number. Moreover, the dollar index is currently trading at 92.78, remaining above the 50-day simple moving average (SMA). Euro/dollar is showing some positive movement today, holding near 1.1780. US futures are pointing to a positive open. Headline retail sales in the US were projected to decrease -0.7% m/m but instead gained 0.75% m/m, compared to a revised -1.8% in July. UK retail sales drive pound lower The British pound declined below $1.3800 as retail [..]

Week Ahead – Fed to headline jam-packed week for central banks

Posted on September 17, 2021 at 11:27 am GMT

The Federal Reserve is widely expected to give its clearest signal yet next week that tapering is just around the corner. But the Fed will have to fight for attention as the Bank of Japan, Bank of England and Swiss National Bank meetings are some of the other policy gatherings taking place in the coming days. However, central banks will not be the only ones to fall under the limelight as elections in Canada and the flash PMIs for September [..]

Daily Market Comment – Dollar jumps, gold slumps, stocks nervous

Posted on September 17, 2021 at 8:40 am GMT

Surprisingly strong US retail sales lift dollar Gold the biggest casualty as yields spike Quad witching and China risks to drive stocks US consumer delivers again Worries that the US consumer is rolling over were dealt a major blow yesterday after the nation’s retail sales for August overpowered some gloomy forecasts. The retail sales control group that is used in GDP calculations rose by 2.5%, more than erasing last month’s decline. The news catapulted the dollar higher along with Treasury [..]

US Open Note – Stocks wane and dollar improves

Posted on September 16, 2021 at 2:16 pm GMT

US retail sales, jobless claims and Canadian ADP Non-Farm labour data take centre stage US major indices are slightly lower as the greenback continues its comeback. It seems consumption endured even as job growth remained burdened last month with August headline retail sales rising to 0.7%, beating July’s -1.8% figure and expectations of -0.8% m/m, while the core data soared to 1.8%, overshooting the -0.1% m/m estimation. Furthermore, the Philly Fed Manufacturing index came in at 30.7, eclipsing August’s and [..]

Daily Market Comment – Are investors sleeping on systematic risk in China?

Posted on September 16, 2021 at 8:56 am GMT

Chinese real estate titan heads for default – will it hit the economy? Wall Street stages solid comeback, oil keeps going US retail sales to inject some volatility into quiet FX market Markets downplay China contagion It’s time to talk about China. The situation is getting dicier as the nation’s second-largest property developer – Evergrande – is on the verge of default. Trading in the company’s onshore bonds was suspended today, which is usually a prelude to bankruptcy. Its total [..]

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