All Articles Tagged - EURUSD

US Open Note – Dollar consolidates losses as jobs day looms; stocks mildly up

Posted on September 2, 2021 at 1:37 pm GMT

US Jobless claims pin fresh low as expected The downbeat ADP private jobs survey and the dip in the employment component of the ISM manufacturing PMI created plenty of interest in the US initial jobless claims numbers on Thursday as anxiety continues to grow about whether Friday’s nonfarm payrolls will meet the criteria for the Fed’s bond tapering plans to start sooner rather than later. Encouragingly, though, the data presented a more or less expected outcome, showing an increase of [..]

Daily Market Comment – Dollar bleeds after hints of NFP disappointment

Posted on September 2, 2021 at 8:50 am GMT

Soft US jobs indicators cool expectations for tomorrow’s NFP Dollar extends retreat, stocks hang on to record highs Oil prices ease as OPEC sticks to the plan, gold trades quietly Investors on alert for NFP disappointment With markets buzzing about when the Fed will finally get the taper process rolling, the spotlight is squarely on tomorrow’s US employment report to determine whether the next FOMC meeting is ‘live’ or not. The tea leaves now point to a disappointment, as a [..]

Nonfarm payrolls, tapering edition – Forex News Preview

Posted on September 1, 2021 at 2:41 pm GMT

With markets buzzing about when the Fed will finally push the taper button, the next US employment report at 12:30 GMT Friday will be crucial, especially since some indicators point to a disappointment. That said, the US economy is solid, Congress is about to deliver more fiscal juice, and inflation might not cool as quickly as the Fed expects. That’s a cocktail that argues for a stronger dollar over time. Slowing, from top speed It looks like the US economy [..]

US Open Note – Downbeat ADP jobs data drive dollar lower; Wall Street opens higher

Posted on September 1, 2021 at 1:35 pm GMT

Global stocks have a good start to September Global markets had a solid start to September, with European equities following their Asian rivals higher and crawling back towards their recent record highs despite fears of a growth slowdown, the troubling supply shortages, and the scarcity of qualified employees, which keep production costs elevated. Of course, businesses can always raise margins and transfer the increased costs to consumers, making cost pressures less problematic as long as consumption remains solid and central [..]

Daily Market Comment – ECB hawks talk tapering, euro unimpressed

Posted on September 1, 2021 at 8:50 am GMT

Euro barely gains despite inflation overshoot and ECB talk Dollar stages late session comeback, stocks hover near records Crucial US data and OPEC+ meeting on the agenda today Euro brushes positive news aside The notion that the European Central Bank will slow down its asset purchases is gaining traction. Officials from Austria and the Netherlands threw their weight behind this yesterday, highlighting the positive economic surprises lately. That was soon echoed by ECB vice chief Luis de Guindos. Their hawkish [..]

Technical Analysis – EURUSD punctures above 50-day MA, eyes further gains

Posted on August 31, 2021 at 2:57 pm GMT

EURUSD is extending its rebound from the 9½-month low of 1.1663 from August 20, reclaiming the 1.1800 handle in the process, though a daily close above this level is pending. The pair has penetrated its 50-day moving average (MA) for the first time since June and it is now testing the 78.6% Fibonacci retracement level of the March-May upleg at 1.1824. According to the momentum indicators, it should be possible to clear this hurdle too as the RSI is still [..]

US Open Note – Dollar set for positive monthly close despite weakness; stocks falter

Posted on August 31, 2021 at 1:36 pm GMT

Dollar falls to fresh lows, but outlook still promising The US dollar was down across the board on Tuesday, retreating below its post-Jackson Hole low earlier in the day to trade at 92.36 against a basket of six major currencies as investors remained in the dark about when the Fed will officially kick off its bond tapering phase. The outlook, however, is still promising for the greenback, which is set to close the month in the positive territory since the [..]

Daily Market Comment – Fed shockwaves reverberate

Posted on August 31, 2021 at 8:31 am GMT

Equities shine, dollar bruised as markets digest Fed signals Chinese PMIs disappoint, setting the stage for more stimulus European inflation data in focus as euro attempts rebound Wall Street hits fresh records The party in US stock markets continues to rage. The S&P 500 and the Nasdaq hit new milestones yesterday, with tech heavyweights being at the tip of the spear after the Fed chief reassured investors that the cheap money punchbowl won’t be taken away immediately. With the Fed [..]

US Open Note – Dollar flat as Powell continues to feed Wall Street bulls

Posted on August 30, 2021 at 1:58 pm GMT

Dollar remains muted after Friday’s pullback The delta wave uncertainty forced Federal Reserve Chairman Jerome Powell to play it safe during Friday’s Jackson Hole symposium, setting no timeline and expressing no rush for winding down stimulus despite flagging that bond tapering will start this year. His dovish remarks sent the dollar index lower but within the 92.00 territory as the euro and the pound found the chance to steal some ground on the news. ECB’s Villeroy signals PEPP reduction, but [..]

Eurozone inflation to spike but ECB seen staying the course – Forex News Preview

Posted on August 30, 2021 at 12:45 pm GMT

The flash inflation estimates for August are due out of the Eurozone on Tuesday at 0900 GMT. The headline rate is expected to jump to a near-decade high. But this is unlikely to speed up policy normalization plans at the ECB, which, like other central banks, thinks the surge is transitory. The euro may therefore struggle to find much upside from the data, with any boost potentially being short lived. Inflation is accelerating, but it’s ‘transitory’ Inflationary pressures in the [..]

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