All Articles Tagged - EURUSD

US Open Note – Calm day ahead of busy week; US futures are flat

Posted on July 26, 2021 at 12:58 pm GMT

Quiet day ahead of Fed meeting this week The US dollar has a negative momentum ahead of the FOMC meeting this current week. US 10-year treasury yields declined to a record low of 1.13% before recovering to 1.20 driving the dollar index down to 92.70. Dollar/yen is holding near 110.30 and is currently red, while US futures are neutral. The Fed meeting will focus on the concerns about the economy and the expectation is to tread carefully on the path [..]

Daily Market Comment – US equities shine ahead of Fed but caution prevails elsewhere

Posted on July 26, 2021 at 8:57 am GMT

Wall Street rallies on strong earnings even as US Covid hospitalizations surge Caution is the order of the day elsewhere as Delta and growth fears linger Dollar starts Fed week on steady note but yen and gold inch higher, yields slip again US stocks ride high; can anything spoil the fun? Wall Street ended Friday in a euphoric mood as Q2 earnings continued to beat expectations, but trading has gotten off to a much more cautious start on Monday, with [..]

Technical Analysis – EURUSD reflects weakening bearish bias; eyes on 20-SMA

Posted on July 26, 2021 at 7:28 am GMT

EURUSD kicked off the week with soft performance and barely above last week’s low of 1.1751, maintaining a downward direction below the 20-day simple moving average (SMA). While the gentle upward trajectory in the RSI and the MACD, which coincides with a weakening price action, reminds of a bullish divergence, and hence raises some optimism that an upside reversal could soon take place, some caution is still required as the former continues to trade below its 50 neutral mark and the [..]

US Open Note – Stocks to close the week unharmed as the focus turns to the Fed

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

Stocks flirt with record highs Despite a choppy week, which spurred pandemic fears before putting them back to rest again, global stocks bound up their wounds as investors cheered on robust corporate profits and assessed that fiscal and monetary policy could still protect economies from covid breakouts. Industrials, basic materials, and consumer cyclicals drove gains in the pan-European STOXX 600 today, pushing the index closer to its recent record highs, while upbeat earnings in telecommunications and autos underpinned sectoral advances. Wall [..]

Weekly Comment – Fed meeting and a barrage of data coming up

Posted on July 23, 2021 at 11:42 am GMT

The week started with investors losing their cool over a slowdown in global growth as the Delta variant continued to rampage, but the panic soon faded and stock markets returned to record highs. Meanwhile, the EUR took some fire after the ECB locked itself into negative rates for longer. The coming week will be action-packed too, featuring a Fed meeting, earnings from the biggest tech firms, and a ton of crucial data. The highlights: The main event will be the [..]

Week Ahead – Fed to talk taper but stall on action; growth data in focus amid recovery doubts

Posted on July 23, 2021 at 11:16 am GMT

The Federal Reserve is expected to provide more hints on tapering when it meets next week but may stop short of revealing a timeline. Amidst jitters about the Delta variant, markets could whipsaw if the Fed cites both progress and dangers ahead. Meanwhile, US and Eurozone GDP readings could further muddle the market mood as they will likely confirm the solid rebound in Q2 even as uncertainty about the outlook is increasing. If all that wasn’t enough for investors to [..]

Daily Market Comment – Stormy week ends with US stocks at record highs

Posted on July 23, 2021 at 8:48 am GMT

Nasdaq 100 closes at new record as investors warm up to tech stocks Euro heads lower after ECB commits to negative rates for longer Global PMIs coming up to shed some light on recovery speed Delta blues fade There was no shortage of volatility in financial markets this week. The week started with investors losing their cool over a slowdown in global growth as the rampaging Delta variant left its marks on several economies, but those worries soon faded into [..]

US Open Note – ECB delivers new guidance but no surprises; stocks stay on recovery mode

Posted on July 22, 2021 at 1:09 pm GMT

Risk-aversion fades Concerns over the Covid delta variant and its potential drag on global growth took a back seat on Thursday, letting risk-sensitive currencies such as the Aussie and the kiwi pare some of Monday’s damage and become the best performers of the day. Even cryptocurrencies managed to gain positive traction within this spectrum, though whether they could set up any turnaround without Elon Musk expressing his overall support for digital currencies, was still a question. Earnings optimism overshadows pandemic [..]

Daily Market Comment – ECB to commit to negative rates

Posted on July 22, 2021 at 8:43 am GMT

ECB meets, likely to lock itself into cheap money for longer Wall Street approaches record highs again as Delta scare fades Dollar pulls back, commodity FX recovers, gold can’t catch a break ECB to strengthen forward guidance The main event today will be the European Central Bank meeting, which should be interesting after President Lagarde promised to deliver new policy signals. The central bank recently raised its inflation target and it wants to demonstrate that it is serious about hitting [..]

Technical Analysis – EURUSD develops in descending channel; hovers near 1.1800

Posted on July 22, 2021 at 8:00 am GMT

EURUSD has been holding in a descending channel since June 16 and is currently attempting to climb above the short-term simple moving averages (SMAs) near the 1.1800 round number. An increase beyond the downward sloping pattern could take the market towards the 1.1880 resistance and the 200-period SMA at 1.1927. The technical indicators are confirming the recent bullish movement. The RSI is heading north above the neutral threshold of 50, while the MACD is holding above its trigger line and [..]

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