All Articles Tagged - EURUSD

ECB meeting: tapering on the menu, sort of – Forex New Preview

Posted on September 7, 2021 at 2:43 pm GMT

The European Central Bank meets on Thursday for its regular policy meeting and is scheduled to announce its decision at 11:45 GMT, followed by President Christine Lagarde’s press briefing at 12:30 GMT. Having made several dovish turns in recent months, the ECB looks poised to take a bold step in the opposite direction on Thursday as the Eurozone recovery finally gets onto a more solid footing. However, even if the outcome of Thursday’s meeting is the predicted slowdown in asset [..]

US Open Note – Dollar ticks green as markets eye central banks this week

Posted on September 7, 2021 at 1:51 pm GMT

Dollar demand weighs on major peers; US yields assist It appears markets have already forgotten Friday’s disappointing data regarding new jobs created. The somewhat upbeat market mood has lifted the US 10-year yield to 1.3664% and aided the greenback in its comeback today. The dollar index is pushing higher, currently at 92.40 and its renewed strength is reverberating across the forex arena in major pairs. The euro is at $1.1846, the pound is at $1.3770 and the USD/JPY pair has [..]

Daily Market Comment – Aussie slips on RBA’s dovish taper; dollar extends rebound

Posted on September 7, 2021 at 8:44 am GMT

RBA sticks to tapering but delays next move; aussie climbs then falls Dollar on steadier footing, strong China trade data buoys stocks Bank of Canada and ECB not expected to rock the boat RBA takes middle ground as Delta rages on The Reserve Bank of Australia stuck to its exit strategy from QE on Tuesday, pressing ahead with its decision to reduce bond purchases by A$1 billion a week this month. However, the central bank postponed its next review of [..]

US Open Note – Dollar leads the FX space on Labor day; RBA policy decision eyed

Posted on September 6, 2021 at 1:24 pm GMT

US dollar in recovery mode after NFP loss A faster-than-expected slowdown in US employment growth has not entirely written off the case of bond tapering this year but was solid enough to kick the can down the road and raise speculation for a potential announcement in November rather than at this month’s FOMC policy meeting. A significant progress in the US labor market is a prerequisite for the Fed to start unwinding its massive stimulus program, but with jobs growth [..]

Daily Market Comment – Dollar pares NFP-led losses, focus turns to ECB

Posted on September 6, 2021 at 9:08 am GMT

Dollar off lows, yields edge up as investors digest mixed jobs report Global equities rally, led by China and Japan, spurred by stimulus hopes Aussie slips ahead of RBA decision, euro eyes ECB meeting Dollar recoups some losses as Fed outlook little changed The US dollar is recovering from one-month lows on Monday, having deepened its latest slide on Friday following the mixed readings on the labour market. The US economy added far fewer jobs than anticipated in August, but [..]

Technical Analysis – EURUSD gains stumble at 1.19 region

Posted on September 6, 2021 at 8:27 am GMT

EURUSD has faltered in the vicinity of the 1.1900 handle with a minor pullback pausing positive price action, which commenced from the 9½-month low of 1.1664. The 100- and 200-day simple moving averages (SMAs) are endorsing a more neutral price tone, while the eased negative bearing of the 50-day SMA is proposing buyers are a step ahead. The Ichimoku lines are indicating a pause in positive momentum, while the short-term oscillators are signalling buyers are fighting to maintain an advantage. [..]

US Open Note – Dollar in tears after NFP miss; euro spikes above 1.1900

Posted on September 3, 2021 at 1:54 pm GMT

Nonfarm payrolls miss forecasts; dollar down US nonfarm payrolls took center stage on Friday, presenting an employment growth of 273k for the month of August, which was way below the forecast of 750k but still enough to press the unemployment rate to 5.2% as expected, and let average hourly wages to spike faster than analysts anticipated by 4.3% m/m. Despite some early warnings from the private ADP employment report and the ISM PMI business readings this week, the data spooked [..]

Weekly Comment – EUR gets lift from USD woes, eyes more hawkish ECB

Posted on September 3, 2021 at 1:38 pm GMT

USD’s losses accelerated this week, with a big NFP miss exacerbating the pain. But there’s not much prospect of a quick bounce back in USD as it’s looking like a very light calendar over in America. But it will be quite busy elsewhere. The ECB, BoC and RBA all meet and will likely be discussing tapering, one way or another. The highlights: The ECB meets on Thursday and could decide to ditch its commitment of “significantly higher pace” of asset [..]

Week Ahead – Tapering high on the agenda as ECB, BoC and RBA meet

Posted on September 3, 2021 at 12:47 pm GMT

After the recent taper fever, the Fed may fall out of the limelight next week as other central banks take centre stage. The European Central Bank, Bank of Canada and Reserve Bank of Australia will hold their policy meetings. While a hawkish tilt is possible with the first two, the latter may lean in the opposite direction. With not a lot happening on the data front, the tapering timelines of each central bank look set to dominate the market theme [..]

Daily Market Comment – Locked and loaded for nonfarm payrolls

Posted on September 3, 2021 at 8:35 am GMT

Dollar on the defensive ahead of US employment report Stocks and commodity currencies continue to party Japanese leader steps down, Nikkei smells more spending Markets position for NFP disappointment The moment of truth is finally here. Investors across the world are on the edge of their seats waiting for the latest US employment report, which will hopefully settle the debate of when the Fed will begin to close the liquidity taps. Nonfarm payrolls are expected to clock in at 750k [..]

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