All Articles Tagged - EURUSD

Weekly Technical Outlook – USDJPY, EURUSD, USDCAD

Posted on June 3, 2024 at 12:23 pm GMT

USDJPY continues to trade with resilience near April’s bar as forecasts point to robust US jobs data EURUSD holds within caution area as the ECB prepares to cut interest rates USDCAD directionless despite a probable rate cut in Canada this week Nonfarm payrolls, ISM business PMIs –> USDJPY The Fed is not expected to cut interest rates before September according to futures markets, and although the wolves of Wall Street are not fond of this scenario, the US dollar can enjoy more winning moments [..]

Market Comment – Steady start as markets digest data ahead of rate decisions and NFP

Posted on June 3, 2024 at 8:30 am GMT

ECB cuts pared back after CPI uptick, but Fed hopes rise on softer core PCE BoC to likely join ECB in cutting rates this week after GDP miss Upbeat Asian PMIs boost equities ahead of US jobs report Oil prices muted as OPEC+ decision sends mixed signals on output ECB and BoC take centre stage After much speculation all year on who will press the rate cut button first and when, the European Central Bank looks set to beat the [..]

ECB to make the first move – Preview

Posted on June 3, 2024 at 8:29 am GMT

ECB meets on Thursday; a rate cut is expected Market will look for hints of back-to-back rate cuts A dovish rate cut could match expectations and push euro/dollar lower Decision will be announced on Thursday 12:15 GMT, press conference at 12:45 GMT A 25bps rate cut is expected On Thursday, the ECB will hold its fourth rate-setting meeting for 2024. The rhetoric from ECB officials since the April 11 gathering leaves little doubt about the outcome. The much-awaited rate decision [..]

Technical Analysis – EURUSD neutral in short-term but still bullish in medium-term

Posted on June 3, 2024 at 6:52 am GMT

EURUSD rebounds off 1.0800 and 200-day SMA Trades within narrow range MACD and RSI lack direction EURUSD is currently moving sideways within a two-week consolidation area with upper boundary the 1.0895 resistance and lower boundary the 1.0800 round number. Looking at the momentum indicators, the RSI is lacking direction slightly above the neutral threshold of 50, suggesting that the market could keep consolidating in the near term. The MACD also supports this view in the positive territory but is currently embraced by its red signal line. Should the [..]

Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report

Posted on May 31, 2024 at 10:17 am GMT

ECB set to slash rates on Thursday, focus on forward guidance But will the BoC take the lead when it meets on Wednesday? US jobs report eyed on Friday as Fed unyielding on cuts OPEC+ might extend some output reductions into 2025 ECB poised to cut rates, but what’s next? The path by central banks to lower borrowing costs has been far from smooth, but it seems that the European Central Bank will be among the first to reach its [..]

Market Comment – US and Eurozone inflation data in focus

Posted on May 31, 2024 at 7:51 am GMT

Dollar pulls back ahead of core PCE price index Euro awaits Eurozone flash CPI data Wall Street closes in the red, oil extends slide Core PCE inflation enters the spotlight The US dollar pulled back across the board yesterday as the second estimate of US GDP revealed that the world’s largest economy grew at a slower pace than previously estimated in Q1. Treasury yields slid as well, but market expectations with regards to the Fed’s future course of action were [..]

Euro suffers when ECB announces the first rate cut of the cycle – Special Report

Posted on May 30, 2024 at 2:50 pm GMT

ECB prepares to cut rates for the first time ahead of the Fed History points to strong possibility of back-to-back rate cuts Both the euro and German DAX tend to underperform on meeting day The ECB is on the brink of announcing its first rate cut since March 2016 as the overall rhetoric from ECB officials leaves little doubt about next week’s rate decision, with even the most hawkish members of the Governing council acknowledging the need for rate cuts. [..]

Market Comment – Dollar rallies as market angst spreads

Posted on May 30, 2024 at 8:01 am GMT

Higher Treasury yields contribute to stock indices’ retreat Euro under pressure as the pound benefits from the election Gold fails to benefit from risk-off; oil drops ahead of OPEC meeting Dollar is on the front foot The US dollar is gaining against its main counterparts with the euro/dollar pair dropping to a 2-week low. The catalyst for this move appears to be the bond market as the 10-year US Treasury yield is hovering above 4.6% for the first time since [..]

Market Comment – Dollar trades sideways as focus turns to US yields

Posted on May 29, 2024 at 8:33 am GMT

US stock indices under pressure as yields climb German CPI could dictate next week’s ECB rhetoric Yen underperformance lingers; all eyes on Friday’s Tokyo CPI Dollar rallied on Tuesday, US stock indices were mixed Following a couple of negative sessions, the US dollar showed its strength yesterday as it managed to outperform the euro. The continued hawkish commentary from Fed members is affecting market sentiment since the chances of a rate cut before the November elections are dropping. The bond [..]

Will core PCE inflation spur a less hawkish Fed? – Preview

Posted on May 29, 2024 at 8:10 am GMT

Hopes that PCE inflation will point to some further moderation But would that be enough for the Fed to ease its hawkish stance? US dollar drifts lower ahead of the crucial data due Friday, 12:30 GMT The stakes are high as Fed meeting approaches After months of hotter-than-expected inflation prints, there was finally some good news in the latest CPI report. Both the headline and core measures of the consumer price index (CPI) edged lower in April, raising hopes that [..]

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