All Articles Tagged - EURUSD

Weekly Technical Outlook – EURUSD, US dollar index, USDJPY

Posted on June 10, 2024 at 9:32 am GMT

Euro area elections drives EURUSD sharply lower Fed decision and US inflation would have strong impact at US dollar index Will BoJ decision affect USDJPY? Euro area elections –> EURUSD The European elections resulted in significant setbacks for German Chancellor Olaf Scholz and French President Emmanuel Macron. The euro had a significant decline on Monday due to political uncertainty caused by French President Emmanuel Macron’s announcement of a sudden legislative election. Marine Le Pen’s National Rally; France’s most prominent far-right political movement, received 32% [..]

Market Comment – Dollar rallies on NFP, euro slips after EU vote

Posted on June 10, 2024 at 8:11 am GMT

US nonfarm payrolls surge past expectations Dollar skyrockets as Fed rate cuts are scaled back Euro slips as Macron calls snap election in France S&P 500 pulls back after hitting new record high Strong jobs report fuels dollar’s engines The US dollar rallied against all its major counterparts on Friday and continued marching north against most of them on Monday, as Friday’s US employment report revealed that the world’s largest economy added a lot more jobs than expected in May. [..]

Technical Analysis – EURUSD struggles to close above 1.0900

Posted on June 7, 2024 at 11:56 am GMT

EURUSD constrained below May’s barrier of 1.0894 Technical signals reflect uncertainty Sellers could take control below 1.0830 Despite a false bullish breakout to 1.0915 earlier this week, EURUSD has been struggling to close above May’s bar of 1.0894. From a technical perspective, traders are indecisive as the RSI in the four-hour chart is lacking direction above its 50 neutral mark and the MACD has stabilized around its red signal line. On the upside, the price could re-examine the 1.0915 high if the 1.0894 [..]

Market Comment – Dollar trades sideways ahead of NFP

Posted on June 7, 2024 at 7:47 am GMT

ECB cuts rates but outlook remains unclear Market is focusing on the US labour market data Weaker prints could open the door to a dovish Fed meeting Stock markets could suffer if there is an upside surprise today ECB cuts rates but the outlook remains unclear The ECB confirmed the overwhelming expectations and announced a 25bps rate cut on Thursday. President Lagarde tried to explain the reasoning behind the nearly unanimous decision, but her justification was somewhat questionable considering the [..]

Week Ahead – Fed and BoJ decide on monetary policy

Posted on June 7, 2024 at 7:08 am GMT

US CPI data and Fed to determine the dollar’s fate Will the BoJ signal that another rate hike is looming? Pound traders await UK employment and GDP numbers RBA hike bets shrink ahead of AU jobs and China CPI data Mind the dots With US inflation resuming its downtrend in April and the ISM manufacturing PMI for May disappointing, investors remained convinced that the Fed will begin lowering interest rates at some point this year. Currently, they are penciling [..]

Market Comment – ECB cut awaited as Wall Street sets new record

Posted on June 6, 2024 at 8:58 am GMT

ECB expected to follow in BoC’s footsteps and cut by 25bps Fed rate cut hopes rise despite upbeat ISM services PMI Dollar mostly steady, stocks surge higher ECB set to deliver this week’s second cut The European Central Bank is on course to become the second central bank in the G7 this week to lower borrowing costs after the Bank of Canada paved the way on Wednesday. Easing inflation and sluggish economic growth prompted the BoC to cut its overnight [..]

Technical Analysis – EURUSD slips after visiting 1.0900 area

Posted on June 5, 2024 at 12:09 pm GMT

EURUSD still above short-term uptrend line Momentum oscillators lose some steam EURUSD posted a higher high during Tuesday’s session, beating the 1.0900 round number. However, it is currently creating some losses with first support coming from the 20-day simple moving average (SMA) at 1.0840 ahead of the near-term uptrend line at 1.0825. Slipping beneath this line, the 1.0800 psychological level and the flat 200-day SMA at 1.0780 may act as strong obstacles for traders. The technical oscillators are confirming the recent downside retracement. The RSI, [..]

Market Comment – Fed rate cut bets grow but dollar steadies, BoC to likely cut

Posted on June 5, 2024 at 9:01 am GMT

Soft US data continues to pile up, boosting Fed rate cut bets But dollar on steadier footing ahead of ISM services PMI Bank of Canada expected to cut rates today, loonie slips Oil slide deepens, stocks struggle for direction All eyes on ISM services PMI after soft data run After repeated setbacks, the needle finally seems to be shifting for the Fed to start cutting rates soon, with bets for a September move gaining significant traction in recent days. Last [..]

Volatility ticks up in commodity and stock markets – Volatility Watch

Posted on June 4, 2024 at 8:54 am GMT

Forex pairs in a quiet mood despite upcoming rate decisions Volatility in oil skyrockets, gold swims in calm waters US equities exhibit volatility jump as they ease from record highs Euro/dollar and euro/pound volatilities have been in the middle of their 30-day range, even though markets are bracing for the first interest rate cut by the ECB since 2016 on its Thursday meeting. Moreover, activity in the yen remains relatively subdued as the Japanese currency has been recovering some ground from its recent multi-year [..]

Market Comment – Market craves weaker US data

Posted on June 4, 2024 at 8:09 am GMT

Monday’s weaker ISM survey pushes the dollar lower Euro/dollar rallies to a 3-month high ahead of the ECB BoC could announce a rate cut tomorrow; loonie may suffer Oil tanks as bearish factors multiply Dollar gets on the backfoot A rather busy week for the US economy started on the back foot for the US dollar yesterday as the ISM manufacturing survey edged lower in the sub-50 territory, pointing to a deteriorating outlook for this sector. Interestingly, the drop in [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

EURUSD

XM Live Chat