All Articles Tagged - EURUSD

US Open Note – Markets recoup and dollar stays upbeat

Posted on July 21, 2021 at 1:44 pm GMT

Markets retain buoyancy as forex arena looks to ECB decision The domino effect from the latest delta variant shock around infection spikes seems to have been short lived as US major indices today continued to recoup recently surrendered ground. Concerns after the initial jolt to markets around the virus rhetoric seem to have subsided somewhat. The US dollar index seems cemented around its recent highs and the pickup in the 10-year yield to 1.24% may be aiding the reserve currency [..]

Virus is surging and yields are tumbling; is inflation already yesterday’s news? – Special Report

Posted on July 21, 2021 at 9:42 am GMT

The last time there was so much panic in the markets about higher inflation was probably in the 1970s when oil price shocks were a common phenomenon. Although there’s not as much chance of inflation hitting the double digits this time round, major central banks are for the first time in decades facing the prospect of missing their upper price targets by a substantial margin. However, all the excitement may yet prove to have been about nothing as the global [..]

Daily Market Comment – Wall Street bounces back, dollar powers higher

Posted on July 21, 2021 at 8:37 am GMT

Stock markets claw back losses as dip buyers return Dollar cruises higher with a little help from recovering yields But commodity currencies remain under pressure Dip buyers win again Wall Street staged a fierce comeback on Tuesday, without any particular catalyst behind this impressive recovery. Markets have been grappling with virus concerns lately, the fear being that new variants might be an endless phenomenon that doesn’t allow the world economy and especially developing economies to go back to normal. Nothing [..]

ECB meeting: Locking in negative rates for longer – Forex News Preview

Posted on July 20, 2021 at 2:14 pm GMT

The European Central Bank will try to demonstrate that it is serious about hitting its new inflation target when it concludes its meeting at 11:45 GMT Thursday, probably by locking itself into negative rates for longer. That could solidify the coming divergence with other central banks that will be raising rates, which is bad news for the euro. Getting serious ECB President Lagarde promised to deliver new policy signals at this meeting, so it should be interesting. The central bank [..]

US Open Note – Stocks gain some footing; coronavirus dejavu-jitters linger

Posted on July 20, 2021 at 2:02 pm GMT

Stocks adjust to delta trauma while dollar holds firm Markets seem to be gradually regaining consciousness from yesterday’s risk-off blow even as yields are on the back foot. That said, the US recovery is clearly ahead of other lagging economies and may start to make headways again as uncertainty and delta variant related concerns start to establish themselves elsewhere. The dollar index is flirting with the 93.00 mark and is holding up fairly well in the forex arena despite the [..]

Daily Market Comment – Economic growth worries torment stocks and oil

Posted on July 20, 2021 at 8:45 am GMT

Economic slowdown concerns hit stocks, oil gets demolished Commodity currencies struggle too, dollar and yen shine But the panic could fade soon, as stimulus hopes return Pandemic blues hit markets Worries that the rampaging Delta variant will hamstring the global recovery took a bite out of riskier assets on Monday. Markets seem to be coming to the realization that the vaccines won’t be enough to completely obliterate the virus, as the mutations keep getting more resilient. Many governments are also [..]

US Open Note – Pandemic anxiety spurs risk aversion; Wall street futures in the red

Posted on July 19, 2021 at 1:02 pm GMT

Pandemic uncertainty resurfaces The cocktail of a contagious Covid delta variant and the stabilization in vaccinations revived memories of lockdown restrictions and amplified inflation fears at a time when investors were confident that the summer months could boost economic growth, especially in the hardest-hit tourism sector. The major concern is how the pandemic will evolve when the flu activity resurfaces in the last quarter of the year and whether governments will reimpose strict curbs or let herd immunity do its [..]

Daily Market Comment – Virus fears return to haunt markets

Posted on July 19, 2021 at 8:51 am GMT

Global stocks lose altitude as investors sense something ominous Sterling caught in the storm too, loonie slides with oil after OPEC deal Dollar and yen stand tall amid flight to safety, gold not so fortunate Gloomy mood spreads The sense of caution that dominated the bond market recently is now spreading over into stocks and currencies, leaving investors puzzled over what’s behind all the gloom. The initial spark seemed to be a short squeeze in bonds that hammered yields lower, [..]

Technical Analysis – EURUSD downside risks look to accelerate

Posted on July 19, 2021 at 8:37 am GMT

EURUSD continues to fade far beneath its simple moving averages (SMAs) heading for the April 5 low of 1.1737 and the adjacent March 31 trough of 1.1703. The diving 50- and 100-day SMAs are endorsing negative price action, and the near completion of a bearish crossover of the 200-day SMA, also by the 50-period SMA, could boost the downward trajectory. The negative charge and the widening in the Ichimoku lines are indicating that bearish forces are still active, while the [..]

Weekly Comment – Another ECB headache for the euro

Posted on July 16, 2021 at 1:10 pm GMT

Markets didn’t care much for another scorching US inflation number this week, dismissing the acceleration as something that will fade soon. The upcoming week brings an ECB meeting where the central bank will likely commit to negative rates for longer, posing another headache for the EUR. The highlights: The main event will be the ECB meeting, where policymakers will probably signal that they are serious about hitting their new inflation target. This means a commitment to negative rates for a [..]

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