All Articles Tagged - EURUSD

Weekly Comment –USD looks to US CPI as gains trimmed after risk rebounds

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

The ECB meeting didn’t change much for EUR outlook even though bond purchases were scaled down. Fed policymakers were hawkish too, signalling tapering is firmly on the cards despite the NFP disappointment. However, USD has been unable to sustain its gains from earlier in the week. Can next week’s inflation and retail sales numbers provide much of a boost? The Highlights: US data will be investors’ focal point as the consumer price index is out on Tuesday and retail sales [..]

Week Ahead – US inflation takes center stage

Posted on September 10, 2021 at 11:29 am GMT

Without any central bank meetings on the agenda next week, the spotlight will fall on the latest edition of US inflation and retail sales. The chances of a Fed taper announcement this month have fallen dramatically after the disappointing jobs report, but this dataset could still be crucial for the normalization timeline and the dollar. There’s also a storm of economic releases from the UK, Canada, Australia, and China. Supply chain blues It looks like inflation won’t cool as quickly [..]

Daily Market Comment – Stocks perk up but shaky after Biden-Xi call; dollar pares weekly gains

Posted on September 10, 2021 at 8:54 am GMT

Global equities in better mood, Biden-Xi call helps, but Wall Street still looking wobbly Euro buys Lagarde’s ‘not tapering’ depiction, stays sluggish after ECB cuts QE pace Dollar slides again but on track for weekly gains as Fed officials reaffirm taper timeline Stocks buoyed by hopes of improved Sino-US ties Equity markets were looking more cheery on Friday after somewhat of a tumultuous week. Renewed concerns about economic growth amid rising inflation and ongoing disruptions caused by the Delta variant, [..]

US Open Note – Euro unchanged as ECB meets PEPP expectations; dollar stable

Posted on September 9, 2021 at 1:16 pm GMT

Taper – ECB style Starting bond tapering could be an unwise decision when the pandemic is still propagating worldwide through its threatening variants. However, setting a route for the train to run when the right time comes could provide some relief and reduce the case of a risky market reaction, especially as inflation is showing no convincing signs of abating. With economic growth remaining fragile and inflation hovering at a 10-year high of 3.0% y/y in the Eurozone, the ECB decided [..]

What does the German election mean for markets? – Special Report

Posted on September 9, 2021 at 12:02 pm GMT

With Angela Merkel stepping down as Chancellor, Germans will go to the polls on September 26 to elect her successor. The center-left finance minister Olaf Scholz has taken the lead, with Merkel’s CDU party and the Greens losing ground. German elections rarely rock the markets, but this time could be different as the Eurozone’s fiscal agenda hangs in the balance. A victory of the left coalition would likely enable heavier spending, lifting bond yields alongside the euro. That said, the [..]

Technical Analysis – EURUSD makes quick rebound ahead of ECB policy decision

Posted on September 9, 2021 at 9:38 am GMT

EURUSD welcomed fresh buying interest around the 1.1814 level early on Thursday ahead of the ECB policy announcement, bouncing quickly up to test the 1.1835 barrier and the 50-period simple moving average (SMA) on the four-hour chart. The 20-period SMA and the 23.6% Fibonacci of the 1.1663 – 1.1908 up leg at 1.1850 could be another struggle on the way up, deterring any moves towards the 1.1880 key resistance territory, a break of which is required to access the uptrend’s [..]

Daily Market Comment – Euro steady ahead of ECB but stocks hit by market jitters

Posted on September 9, 2021 at 9:23 am GMT

Euro holds above $1.18 ahead of expected ‘tapering’ by ECB Fresh China crackdowns and fears of slowing growth dent sentiment Stocks slip, dollar rebound eases but yen edges up ECB to taper but call it something else The European Central Bank will probably join the taper bandwagon when it announces the outcome of its policy meeting later today. However, with some way still to go for the Eurozone recovery and a sizeable degree of uncertainty about the outlook, policymakers will [..]

Technical Analysis – EURUSD dwindles to fresh weekly lows; bias bearish

Posted on September 8, 2021 at 1:55 pm GMT

EURUSD is facing headwinds for the third consecutive day, stretching the sell-off from the 1.1908 peak to a fresh one-week low of 1.1811 early on Wednesday. The bearish cycle has not been completed yet according to the momentum indicators on the four-hour chart despite today’s pause near the surface of the Ichimoku cloud and the 23.6% Fibonacci of the 1.1663 – 1.1908 upleg. Particularly, the MACD has stepped into the negative area and is comfortably below its red signal line, [..]

US Open Note – Market sentiment picks up and dollar takes a step back

Posted on September 8, 2021 at 1:52 pm GMT

Markets prepare for Bank of Canada meeting and US Jolts The major US indices have bounced back to earlier Asian levels, while the greenback has given up a tad of its gains, which it extended from yesterday. Renewed lockdowns and travel restrictions are not aiding growth and the persistently roaming delta variant is nourishing uncertainty around global recoveries, interfering with supply chains, which is feeding higher inflation. This seems to be producing a gloomy mood in the markets. The dollar [..]

Daily Market Comment – Dollar catches a bid; Johnson’s tax plan spooks pound

Posted on September 8, 2021 at 8:58 am GMT

Dollar stretches post-NFP rebound as yields creep up UK looks to tax hikes to cover Covid costs, pound slips to one-week low Loonie struggles ahead of Bank of Canada decision Dollar firms as November taper bets intensify The US dollar recouped more lost ground from the late August selloff as investors grew increasingly doubtful about whether Friday’s softer-than-expected jobs report would derail the Fed’s taper timeline. However, even though the Fed will likely still go ahead with tapering its monthly [..]

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