All Articles Tagged - EURUSD

Daily Market Comment – Fed taper talk approaching fever pitch, dollar edges up again

Posted on August 10, 2021 at 9:06 am GMT

Fed officials heighten taper speculation, flag a decision is nearing; dollar stands tall Optimism keeps stocks afloat even as yields rise, Delta concerns linger Commodities on steadier footing but Fed tapering, demand uncertainty still weigh Fed leaves little doubt tapering is coming soon The first response by Fed policymakers to last week’s stellar jobs report left investors in no doubt that the US central bank is closing in on its criteria of achieving “substantial further progress” towards its goals. The [..]

Daily Market Comment – Dollar eases from post-NFP highs; gold steadies after crash

Posted on August 9, 2021 at 9:06 am GMT

Dollar off highs but elevated after strong NFP puts September taper back on the table Gold plunges below $1,700 before rebounding as yields spike, but oil’s rout deepens Stocks undaunted by prospect of earlier Fed tapering as Wall Street sets new records Taper speculation heats up after bumper US jobs report Markets were left wondering just how much progress is substantial after the US labour market added another 943k jobs in July, while upward revisions to both the May and [..]

Technical Analysis – EURUSD puts some breaks on sell-off; bias still bearish

Posted on August 9, 2021 at 7:31 am GMT

EURUSD slumped in the wake of a sturdy nonfarm payrolls report on Friday, sinking back below its 20-day simple moving average (SMA) and under the 1.1800 level. Encouragingly, though, the selling pressure was not violent enough to close the session below the previous key support of 1.1760, with the price currently trying to set a foothold in the region again. However, whether the pair will successfully recoup its recent losses is an open question as the RSI is still clearly [..]

Weekly comment – US inflation data could shake things up

Posted on August 6, 2021 at 1:51 pm GMT

It was another volatile week that ended with the USD cruising higher after the Fed Vice Chairman threw his weight behind tapering soon and nonfarm payrolls beat forecasts. The Bank of England took another step towards normalization too. There aren’t many events next week, although US inflation data could spice things up. The highlights: · Inflation stats out of America will be released Wednesday. Forecasts suggest inflation will cool down a little, but still remain above 5%. Combined with a [..]

US Open Note – Dollar bulls cheer on Nonfarm Payrolls; loonie resilient after Canadian jobs miss

Posted on August 6, 2021 at 1:21 pm GMT

Dollar, Treasury yields gear up after bullish NFP release The US dollar was in neutral mode until the eagerly awaited nonfarm payrolls report brought the bulls back into play. Employment growth spiked to 943k and above the forecast of 870k, consequently pressing the unemployment rate to 5.4% – the lowest since the 2020 pickup –versus the 5.7% anticipated. Average hourly earnings were another positive surprise, growing faster by 4.0% y/y compared to 3.9% expected. Dollar/yen bounced immediately to peak slightly [..]

Week Ahead – Dollar turns to US inflation data

Posted on August 6, 2021 at 11:44 am GMT

It will be a quiet summer week, with no central bank meetings and only a handful of economic data. The main event will be the latest edition of US inflation, which could shape the narrative around the Fed and the dollar. Overall, we are entering a period when market liquidity might be very thin, making sharp moves possible without much news. US inflation set to cool Fed officials have started to beat the tapering drums. This past week, another two [..]

Daily Market Comment – All about nonfarm payrolls

Posted on August 6, 2021 at 8:30 am GMT

US employment report today crucial for dollar and stocks Sterling gains altitude as BoE strikes a more cheerful tone Gold hammered, Wall Street celebrates new records Dollar braces for nonfarm payrolls The stakes are sky-high going into this US employment report. Fed officials have made it crystal clear that the most important element for the normalization of monetary policy is the labor market. Hence, the upcoming data could determine whether a September taper announcement is realistic or premature. Nonfarm payrolls [..]

US Open Note – Dollar unflattered by jobless claims; BoE moves closer to monetary tightening

Posted on August 5, 2021 at 1:45 pm GMT

Continuing jobless claims beat estimates but dollar faces constraints Predicting progress in the US labor market could be a tricky job for analysts in the next few months after recent comments from Fed speakers highlighted that a significant recovery in the US labor market is a prerequisite for the Fed to start winding down its government bond purchases. US initial jobless claims for the week ending July 31 came in line with analysts’ expectations, showing a moderate decline to 385k [..]

Technical Analysis – EURUSD points up but still has to surpass 200-period SMA

Posted on August 5, 2021 at 12:34 pm GMT

EURUSD has found strong resistance around the 1.1900 psychological level over the previous 4-hour sessions. The pair is hovering beneath the short-term SMAs and the red Tenkan-sen and the blue Kijun-sen lines. The RSI indicator is standing below the neutral threshold of 50 but is pointing up, while the falling MACD is heading below the zero line. If the bulls take the upper hand and the price jumps above the SMAs, immediate resistance at 1.1910 could act again as a turning point. [..]

Daily Market Comment – Dollar shines after Clarida, BoE in the spotlight

Posted on August 5, 2021 at 8:29 am GMT

Dollar climbs as Clarida beats the rate hike drums, ISM hits record Bank of England meets today, sterling reaction hangs on QE votes Meme stocks return, gold takes a rollercoaster ride, oil slides Fed vice chief talks rate hikes It was a wild session in financial markets. The dollar took a hit early on after the ADP jobs report disappointed, only to stage a massive comeback after the Fed’s vice chief talked about rate increases and the ISM services survey [..]

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