All Articles Tagged - EURUSD

Daily Market Comment – Stocks party, dollar drops after vague Powell speech

Posted on August 30, 2021 at 8:42 am GMT

Fed Chair Powell offers no concrete taper signals at Jackson Hole Equities, gold, and commodity FX storm higher, dollar takes a hit Spotlight falls on Chinese PMIs and US jobs report this week Powell plays it slow Global markets breathed a sigh of relief on Friday after the world’s most important central banker didn’t outline a clear roadmap towards normalizing monetary policy. Speaking at the Jackson Hole symposium, Fed Chairman Powell highlighted the Delta outbreak as a risk that has [..]

Technical Analysis – EURUSD moves to the next obstacle after trendline breakout

Posted on August 30, 2021 at 7:30 am GMT

EURUSD closed decisively above the two-month-old resistance trendline and the 20-day simple moving average (SMA) on Friday following some dovish remarks from Fed Chair Jerome Powell at the Jackson Hole symposium. The trendline breakout, which sent the price as high as 1.1809 on Monday, raised optimism that the latest rebound could see further continuation. Yet, another challenge needs to be addressed to confirm additional upside corrections. Specifically, the price needs to overcome the 23.6% Fibonacci retracement of the 1.2265 – 1.1663 [..]

Week Ahead – The calm before nonfarm payrolls storm

Posted on August 27, 2021 at 11:26 am GMT

The calendar is void of any central bank meetings next week, so all eyes will be on the latest US employment report. It will be infinitely important in determining how soon the Fed pushes the taper button. Beyond that, there’s also a heavy dose of data releases from the Eurozone, Canada, and Australia. Inflation, jobs, and the dollar There’s been a lot of talk lately about the Delta outbreak hitting the US economy and slowing down the Fed’s normalization plans. [..]

Weekly comment – Nonfarm payrolls in the spotlight

Posted on August 27, 2021 at 11:10 am GMT

Riskier trades staged a powerful recovery lately as markets became convinced that the Fed chief wouldn’t signal an imminent normalization move. Stock markets hit new record highs, commodity currencies bounced back, and the USD lost some ground. Moving into next week, it’s all about the latest US employment report. The highlights: Nonfarm payrolls out of America on Friday will dominate the agenda. Another solid jobs report is expected, which could cement market expectations for a Fed taper announcement in the [..]

Technical Analysis – EURUSD maintains positive bias but risk tilted to the downside

Posted on August 26, 2021 at 4:00 pm GMT

EURUSD has recovered substantially from Friday’s 9½-month trough of 1.1663, climbing back above its 20- and 50-period moving averages (MA) in the four-hour chart. However, the stochastics are signalling weakening momentum in the very near term, with both the %K and %D lines pointing downwards. The MACD histogram has also been easing in the last few sessions, but it is just about holding above its red signal line and remains comfortably above zero, suggesting the current rebound probably has further [..]

US Open Note – Dollar steady as Fed speakers play down Jackson Hole fireworks

Posted on August 26, 2021 at 1:25 pm GMT

Waiting for Jackson Hole symposium FX markets hardly found any inspiration to move during Thursday’s European session as investors were eagerly waiting for the Jackson Hole symposium on Friday. The economic conference, which invites central bankers, finance ministers and important investors from around the world once in a year, will start today in a virtual form, carrying the theme “Macroeconomic Policy in an Uneven Economy”. The full agenda scheduled will be released at 0000 GMT today, but the biggest highlight [..]

Daily Market Comment – Markets turn cautious in wait for Powell

Posted on August 26, 2021 at 9:22 am GMT

Stocks slip as Delta strain and China crackdown fears resurface Dollar supported by higher yields but overall, lacks direction Markets gearing up for Jackson Hole but can Powell offer much clarity? Stocks turn red as optimism fades slightly Rising virus cases in Asia as well as lingering concerns about China’s punitive crackdown on its tech industry came back to haunt markets on Thursday, pulling regional stocks lower. European bourses also slipped at the open and US stock futures struggled too, [..]

US Open Note – Markets calm down ahead of Jackson Hole

Posted on August 25, 2021 at 12:53 pm GMT

FOMC meeting and Jackson Hole attract attention There have been several confusing messages leading up to the summit (27 August). The Fed’s vice chair, Clarida, hinted at an early taper when he stated that rates could rise as early as 2022. In the US, the number of covid cases and deaths is on the rise. Especially after Kaplan’s comments on Friday, investors are increasingly focused on this factor in the run-up to the FOMC. This Thursday, the Federal Reserve’s annual Jackson Hole Symposium gets underway, and it [..]

Daily Market Comment – Dollar finds footing as Jackson Hole awaited, stocks fly again

Posted on August 25, 2021 at 9:14 am GMT

Markets turn to Jackson Hole for direction amid uneasy optimism Dollar edges up after three-day slide, while Wall Street climbs to fresh records China cash injection, House infrastructure vote lift sentiment, but Delta still a worry Calm sets in before possible Fed storm After a volatile week, markets were in much steadier waters on Wednesday, with the US dollar halting its losing streak and equities holding onto their gains. Optimism that the global economic recovery from the pandemic will only [..]

What will the Fed signal at Jackson Hole? – Forex News Preview

Posted on August 24, 2021 at 2:11 pm GMT

The Federal Reserve’s annual economic symposium will come to a crescendo when Chairman Powell speaks on Friday at 14:00 GMT. There was a lot of buzz that the Fed would use this event to warn it will dial back its asset purchases soon, but markets are thinking otherwise now thanks to the raging Delta outbreak. Despite the delay, it’s only a matter of time until the Fed tapers, which is what matters most for the dollar. Going virtual The US [..]

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