All Articles Tagged - EURUSD

Technical Analysis – EURUSD rebounds off 1.1665; neutral-to-bearish bias

Posted on August 24, 2021 at 1:59 pm GMT

EURUSD has been in a bullish mode over the last three days even though it fell below the 1.1700 on Friday. The pair is trying to overcome the 20- and 40-day simple moving averages (SMAs) as the technical indicators are suggesting a bullish bias. The RSI indicator is moving towards the neutral threshold of 50, while the MACD is holding above its trigger line in the negative area. Immediate resistance could be found from the 20- and 40-day SMAs, currently at 1.1750 and 1.1800 respectively. Overcoming [..]

Daily Market Comment – Stocks extend rebound, dollar tanks as Fed taper and Delta worries ease

Posted on August 24, 2021 at 9:12 am GMT

Risk sentiment continues to improve as Fed seen delaying taper signal Delta fears also subside as FDA’s full approval of Pfizer vaccine adds to optimism Wall Street flirts with record highs, dollar flounders as commodity currencies fight back Fed taper expectations pared back amid virus risks Growing signs that the Delta wave is proving to be a bigger headwind for the US economy than initially anticipated have cooled expectations that the Federal Reserve will commit to a tapering timeframe at [..]

US Open Note – Risk currencies become the best performers as delta fears persist

Posted on August 23, 2021 at 1:16 pm GMT

Jackson Hole in focus, as delta strain challenges policy decisions Although not a game changer yet, the RBNZ policy announcement showed last week that the spread of the delta virus strain could bring some rescheduling in monetary policy plans, and therefore some exciting volatility in FX markets. Policymakers postponed a widely expected 25 bps rate hike for later in the year as a handful of new cases was enough to prompt a snap lockdown given the low vaccination rates in [..]

Daily Market Comment – Equities perk up but Delta casts shadow over Jackson Hole

Posted on August 23, 2021 at 9:16 am GMT

Trading gets off to a somewhat more positive start as stocks and commodities rise, dollar slips But Delta surge forces Jackson Hole to go virtual again, taper clues in doubt Flash PMIs in focus amid recovery fears as Delta variant rages on Panic subsides but could be the Fed’s turn to get jittery After a tumultuous week, the market mood brightened somewhat on Monday after stocks on Wall Street extended their rebound on Friday. Bargain hunting appears to be reviving [..]

Technical Analysis – EURUSD set to rebound but no guarantees yet

Posted on August 23, 2021 at 7:19 am GMT

EURUSD is pushing for a rebound after its latest downfall snapped the March trough of 1.1703 to mark a new lower low at 1.1663, the lowest since November 2020. Despite the bullish appetite in the price, the technical indicators cannot guarantee any sustainable recovery in the market yet. The RSI has bottomed twice near its 30 oversold mark, but it continues to fluctuate within the bearish area, while the Stochastics haven’t officially abandoned the oversold region yet. Likewise, the MACD, [..]

Week Ahead – Fed taper: will they or won’t they? Splits loom over Jackson Hole

Posted on August 20, 2021 at 1:05 pm GMT

The upcoming week will kick off with a bang as the flash PMI readings for August will flood the markets on Monday. However, it might go all quiet after that before Fed officials gather at Jackson Hole later in the week for this year’s economic symposium, which is set to be dominated by discussions on how and when to unwind the Fed’s emergency stimulus. Will policymakers finally lay out their tapering plans, potentially lifting the US dollar to fresh yearly [..]

US Open Note – FX markets head south; stocks continue to drop

Posted on August 20, 2021 at 12:57 pm GMT

Dollar index rises slightly Watered-down expectations heading into Jackson Hole next week reveal more about the economy than the Fed’s plans to taper. If the Fed does not announce a taper soon, the fear is that they will not have the opportunity to do so if the US virus situation does not get better in the coming months. The US dollar index is surging to a new nine-month high of 93.67 today, posting the fifth consecutive green day. The greenback is flattening against the Japanese [..]

Weekly comment – All eyes on the Fed for taper signals

Posted on August 20, 2021 at 11:57 am GMT

Commodity-linked currencies like the AUD, NZD, and CAD were slaughtered in a week dominated by concerns around global growth. Stock markets suffered too alongside oil prices, while the USD shined bright as investors looked for shelter. Next week will bring the Fed’s highly anticipated Jackson Hole symposium and a barrage of crucial data. The highlights: Federal Reserve officials will gather on Thursday for an event that’s been used in the past to signal major policy moves. Will Chairman Powell [..]

Can the Eurozone’s PMIs rescue the euro? – Forex News Preview

Posted on August 20, 2021 at 11:06 am GMT

With the euro slicing through some crucial support levels lately, there will be a lot of attention on the upcoming PMI business surveys from the euro area. The show will start with the French data at 07:15 GMT Monday. Overall, the Eurozone economy is healing but the outlook for the euro looks bleak, with the ECB likely to be left behind in the central bank normalization game. Reopening boom The Eurozone is finally coming back to life. Virus restrictions have [..]

Daily Market Comment – Commodity currencies in agony, stocks undecided

Posted on August 20, 2021 at 8:46 am GMT

Dollar stands tall as commodity FX continues to break down Big tech keeps US stocks afloat, Chinese markets sink All eyes on the Fed’s Jackson Hole symposium next week Commodity currencies bite the dust It’s been a wild week for financial markets, dominated by concerns that the Delta outbreak will put the brakes on the global economic recovery. Even though many of the major economies are protected by a vaccine shield, the fear is that the virus could cool demand [..]

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