All Articles Tagged - EURUSD

US Open Note – Dollar is marginally down; euro shines

Posted on August 13, 2021 at 12:32 pm GMT

Dollar eases before Fed releases minutes next week The dollar is dropping from four-month highs as traders are waiting next week for more clues about the Federal Reserve plans for how and when it will unravel its massive stimulus program. After scaling a high of 93.13 earlier in the week, the dollar index has been lingering around 92.95 since Wednesday, when it was driven down by CPI data. Dollar/yen is creating the third consecutive red day after the climb to 110.80. The euro rebounded against the greenback even after yesterday’s [..]

Week Ahead – RBNZ to raise rates, dollar awaits Fed minutes

Posted on August 13, 2021 at 11:37 am GMT

It’s an electrifying week, with a crucial central bank meeting and a storm of economic releases to spark volatility. The Reserve Bank of New Zealand will make history by raising interest rates. However, there is scope for some disappointment in the kiwi, as markets are pricing in a decent chance for a ‘double’ rate hike. Meanwhile, another round of normalization signals from the Fed could begin to reawaken ‘king dollar’. RBNZ: Time for lift off The main event will be [..]

Weekly comment – RBNZ to lift rates, Fed releases minutes

Posted on August 13, 2021 at 11:15 am GMT

It was a quiet summer week in the FX arena, with most major pairs ending little changed amid a shortage of news. Speculation around when the Fed will begin to withdraw liquidity remains the central market theme. Hence, the minutes of the latest FOMC meeting next week could be crucial. But the main event will be in New Zealand, where the central bank is ready to raise interest rates. The highlights: The Reserve Bank of New Zealand is widely expected [..]

Technical Analysis – EURUSD rebounds off 1.1700 near lower boundary of sideways channel

Posted on August 12, 2021 at 1:52 pm GMT

EURUSD found strong support at the 1.1700 psychological level once again, confirming the broader sideways channel. The RSI is flattening in the negative territory, while the MACD is holding below its trigger and zero lines. In trend indicators the short-term simple moving averages (SMAs) are trying to tick up. However, the price is hovering well below the Ichimoku cloud. If buying interest intensifies, resistance may originate from a trench of peaks from the 20- and 40-day SMAs at 1.1800 and [..]

US Open Note – FX markets swing sideways; Wall Street mildly lower

Posted on August 12, 2021 at 1:45 pm GMT

Currencies in a range as debate for bond tapering continues The FX world was on the sidelines during Thursday’s European session, suffering the summer doldrums in narrow ranges in the absence of any market movers. On Wednesday, US CPI inflation figures came almost as expected, raising hopes that the extraordinary spikes in previous months have likely reached a peak and therefore the Fed’s view of temporary inflation is probably right, making any aggressive monetary tightening actions less likely in the [..]

Daily Market Comment – US inflation may have peaked, dollar rally cools

Posted on August 12, 2021 at 9:10 am GMT

US CPI unchanged in July as Fed hawks get louder Dollar and yields pull back slightly but remain supported by tapering bets US stocks extend record streak as Senate opens path for $3.5 trillion budget plan Inflation fears ease after CPI in line The rate of inflation in the United States remained at a 13-year high in July according to the consumer price index out yesterday. But there was good news for both consumers and policymakers as price pressures for [..]

Will ‘king dollar’ reclaim its throne as the Fed tapers? – Special Report

Posted on August 11, 2021 at 3:05 pm GMT

One by one, Fed officials are getting behind the idea that their asset purchases should be dialed back soon. Whether this is announced in September or November doesn’t matter much. What matters is that the Fed is years ahead of the ECB and BoJ in the normalization game. The dollar held its ground recently even as US yields crumbled, so it could really shine once tapering gets rolling and Congress delivers even more fiscal juice. Falling into line More and [..]

US Open Note – Dollar pulls back after US CPI data release

Posted on August 11, 2021 at 1:04 pm GMT

US CPI data drives dollar lower All eyes were on the US CPI data release today. The US consumer price inflation rate remained at 5.4% in July, the same as the previous 13-year high and marginally above market predictions of 5.3%, mirroring the low base effect caused by the coronavirus crisis. There were not any surprises for the market; however, the dollar slipped from the five-week high of 110.80 versus the yen that was printed earlier today. The dollar index [..]

Daily Market Comment – US dollar, yields, stocks climb in tandem ahead of inflation test

Posted on August 11, 2021 at 9:08 am GMT

Dollar extends rally, hits more than 4-month high ahead of crucial US CPI data Euro and yen can’t catch a break, riskier currencies slip too Tech stocks take a tumble but Senate’s infrastructure bill nudges Dow and S&P to record Dollar charges ahead; will CPI data fuel or dent rally? The post-NFP boost for the US dollar and Treasury yields showed no sign of abating on Wednesday as investors continued to ramp up their bets that the Federal Reserve will [..]

US Open Note – Dollar leads the way as euro falters; oil soars

Posted on August 10, 2021 at 1:04 pm GMT

Dollar heads up but faces some downside pressure; stocks unchanged The US dollar is broadly heading north today on predictions that the Federal Reserve will eventually reduce its stimulus program, but it has come under pressure versus some majors. Strong job numbers on Friday showed that the economy is still recovering. With markets nearing all-time highs because of the Fed’s exceptional stimulus measures, Bostic believes that another solid month or two of job growth should trigger the central bank to begin tapering its asset purchases, and that the Fed should proceed [..]

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