All Articles Tagged - EURUSD

US Open Note – Riskier currencies plummet amid dollar strength

Posted on August 19, 2021 at 12:57 pm GMT

FOMC minutes drive dollar up Following the minutes from the latest FOMC meeting, the dollar index rose to 93.4 on Thursday, the highest closing level since November 2020. Numerous market participants now believe that the Fed will disclose a tapering timeline at the Jackson Hole Symposium next week. There will be less cash poured into the system if asset purchases are reduced. US stocks slid and are headed for a negative open today, while dollar/yen is heading south around 109.60. [..]

Daily Market Comment – Stock selloff deepens, dollar capitalizes

Posted on August 19, 2021 at 8:48 am GMT

Risk aversion pummels stocks, oil, and commodity FX US dollar shines bright as traders seek protection Fed minutes don’t reveal much, gold unable to shine Growth fears deepen A sense of nervousness has returned to haunt financial markets. Investors are increasingly slashing their exposure to riskier assets amid concerns that the Delta outbreak will kneecap global growth, at a time when central banks are trying to take their foot off the accelerator. One by one, different charts are telling the [..]

US Open Note – FOMC minutes next on the radar; greenback steady

Posted on August 18, 2021 at 1:13 pm GMT

Dollar awaits FOMC minutes for notable move The major highlight of the day is expected to be the FOMC minutes announcement. In the run up to the Jackson Hole Symposium next week, the minutes from the July 27-28 meeting will be of considerable interest. Investors are anticipating to see a highly hawkish tone in the minutes. A hawkish change is likely to occur in the September Dot Plots, with median launch expectations for a rate hike moving to 2022. The [..]

Daily Market Comment – Wall Street slips, dollar shines, RBNZ holds fire

Posted on August 18, 2021 at 8:33 am GMT

Stock markets edge lower after US retail sales disappoint Risk aversion reawakens the dollar ahead of Fed minutes today RBNZ says rate hikes ‘delayed not derailed’, kiwi goes wild Stocks bleed, but not much It was a lively session across global markets. Wall Street came under pressure on Tuesday after US retail sales fell short of expectations, amplifying concerns that consumer spending may be rolling over and reinforcing the narrative that economic growth has already peaked. Of course, the retreat [..]

US Open Note – US retail sales released with minor impact on dollar; kiwi tumbles

Posted on August 17, 2021 at 1:06 pm GMT

US retail sales miss is mild hit to dollar The recovery in the US dollar after Friday’s sell-off is continuing today, with only a minor market reaction after the retail sales release. Retail sales in the US rose by 1.1% m/m in July versus -0.3% that was the forecast and from an upwardly revised 0.7% in the previous month. The US dollar index is up two days in a row and has nearly retraced half of its previous day’s loss. Dollar/yen is recouping some of the losses of the previous days, trading above 109.00. US [..]

Technical Analysis – EURUSD flirts with 1.1800; neutral outlook

Posted on August 17, 2021 at 12:07 pm GMT

EURUSD met significant resistance at the 20-day simple moving average (SMA) near 1.1800 after the rebound off the 1.1700 critical level, which is also the bottom border of the seven-month consolidation area. The RSI is falling below the neutral threshold of 50; however, the MACD oscillator is holding above its trigger line in the negative region. A break below 1.1700 could push the bears lower to 1.1610 and 1.1420, turning the long-term neutral bias to bearish. The next support would be the 1.1170 [..]

Daily Market Comment – Kiwi tanks ahead of RBNZ, dollar braces for Powell

Posted on August 17, 2021 at 8:34 am GMT

Kiwi burned by doubts about RBNZ rate hike tomorrow US stocks hit new records, Chinese equities get smoked Dollar braces for US retail sales and Powell speech RBNZ meeting in the spotlight New Zealand just went into a lockdown, after discovering its first locally transmitted covid case in several months. The nation has kept its borders closed since last year to keep the virus out and the government has unleashed tremendous fiscal firepower to keep the economy going. As such, [..]

US Open Note – Yen surges due to risk-off factors; oil plunges

Posted on August 16, 2021 at 12:44 pm GMT

Dollar marginally up; Stocks ease The market is beginning the week on a cautious note. The US dollar index is ticking marginally up after a strong negative session, while US futures are suggesting a negative open after the S&P 500 and Dow Jones completed new record highs on Friday. Euro/dollar failed to surpass the 1.1800 psychological level on Friday and is moving lower, while pound/dollar is hovering around 1.3870. Yen shines; commodity currencies fall The yen has risen sharply because of several risk-off factors, all [..]

Daily Market Comment – Dollar takes some damage after soft data, gold smiles

Posted on August 16, 2021 at 8:19 am GMT

US dollar retreats after soft consumer sentiment survey Chinese data disappoints too, hitting risk sentiment in Asia Gold comes back to life, oil ignores Afghanistan tensions Dollar grapples with consumer uncertainty Currency markets closed with a bang last week after an American survey showed consumer sentiment cratering in August to reach its lowest level in a decade. The stunning loss in consumer confidence raised questions about the economy’s fortunes, and consequently about whether the Fed will be able to take [..]

Technical Analysis – EURUSD flirts with 1.1800; neutral outlook

Posted on August 16, 2021 at 7:16 am GMT

EURUSD is flirting with the 20-day simple moving average (SMA) near 1.1800 after the rebound off the 1.1700 critical level, which is also the lower boundary of the seven-month consolidation area. According to the technical indicators, the RSI is rising towards the neutral threshold of 50 and the MACD oscillator is ready to cross to the upside of its trigger line in the negative region. In terms of trend indicators, the Ichimoku cloud is moving lower. However, the 20- and 40-day SMAs are [..]

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