All Articles Tagged - EURUSD

Daily Market Comment – Quiet start to a busy week for global markets

Posted on June 28, 2021 at 8:56 am GMT

Most currency pairs confined to tight ranges, stocks set for new records Sterling opens a touch higher as Britain gets a new health minister Big week ahead, featuring an OPEC meeting and a US employment report Wall Street set for more gains but currencies quiet Global markets are quiet on Monday, with news flow being rather light and movements subdued across most asset classes, as traders keep some powder dry ahead of crucial events later in the week. Dollar pairs [..]

Technical Analysis – EURUSD looks feeble as congested resistances cripple buoyancy

Posted on June 28, 2021 at 8:12 am GMT

EURUSD seems to have lost whatever positive traction it moulded off 1.1846 prior to a buffer zone of upside limitations between 1.2000-1.2100. The flattening simple moving averages (SMAs) are endorsing a neutral tone and are capping any meaningful advances, while the Ichimoku lines are indicating that negative momentum could retake the lead. The short-term oscillators are suggesting that positive momentum is retaliating. The MACD, below zero, is flattening towards its red trigger line, while the RSI is making efforts to [..]

Weekly Comment – Can nonfarm payrolls recharge USD bulls?

Posted on June 25, 2021 at 2:49 pm GMT

The USD took a breather this week as a parade of Fed speakers tried to reassure markets that they won’t rush into anything. Meanwhile, stock markets continued to party, hitting new records after President Biden announced a new infrastructure deal. The upcoming week is huge too, featuring a US employment report and an OPEC meeting that could really spice things up. Upcoming highlights: · The main event will be the latest edition of nonfarm payrolls on Friday. Forecasts point to [..]

Week Ahead – Dollar’s fortunes hang on nonfarm payrolls

Posted on June 25, 2021 at 1:58 pm GMT

With the Fed’s bombshell still resonating in the markets, all eyes will be on the next edition of nonfarm payrolls. It could single-handedly determine whether investors spend the summer positioning for a withdrawal of cheap money, or whether all that is premature. In the big picture, we seem headed for a period of ECB/Fed divergence, which could ultimately spill over into euro/dollar. Fed throws a curveball The Fed caught markets sleeping last week, unleashing all sorts of havoc after it [..]

US Open Note – Dollar tumbles after PCE data

Posted on June 25, 2021 at 1:07 pm GMT

Dollar moves south as US futures hold steady Markets drove the dollar even lower after the release of the PCE price index on Friday. During the last couple of days, the dollar index has remained steady just below 92.00. The greenback is falling after the jump above the 111.00 psychological level versus the Japanese yen. US futures are currently trading in green on Friday. The core PCE, the Fed’s preferred inflation indicator rose by 3.4% y/y, up from 3.1% in the previous month and was in line with expectations. It is the highest reading [..]

Daily Market Comment – Wall Street parties after ‘skinny’ infrastructure deal

Posted on June 25, 2021 at 8:39 am GMT

Stock markets hit new all-time highs after bipartisan infrastructure bill Dollar quiet, looks to more Fed speakers and US inflation data today Sterling retreats after BoE steers clear of any tightening signals Infrastructure deal propels equities higher A sense of euphoria swept through equity markets on Thursday, after the US president announced that he has secured a deal on infrastructure spending with a group of Republican and Democratic senators. The price tag will be around $1 trillion over five years, [..]

US Open Note – Stocks log slight gains while greenback is unreactive

Posted on June 24, 2021 at 1:52 pm GMT

Stocks glow temporarily and dollar digests US GDP and jobless claims While stocks marginally pick up and the Nasdaq 100 index claims a new all-time high, the threat of rising inflation, associated with supply bottlenecks, continues to be somewhat downplayed. Furthermore, Fed-taper talks are said to be on the horizon, but a far ways down the road, with Fed Chair Powell highlighting that they will not act hastily towards higher interest rates. Today, the 10-year Treasury yield rose slightly to [..]

Technical Analysis – EURUSD turns up above 1.1900 in near term

Posted on June 24, 2021 at 8:26 am GMT

EURUSD has been in a bullish correction move over the last week after the sell-off from the five-month high of 1.2240. The pair is currently trading within the 20- and 40-period simple moving averages (SMAs) and the red Tenkan-sen line is standing above the blue Kijun-sen line, suggesting a bullish tendency in the 4-hour chart. If the market rises over the 40-period SMA, it might reach the 1.1970-1.1985 resistance area before hitting the 1.2050 barrier. The 200-period SMA at 1.2127, [..]

Daily Market Comment – Bank of England meeting in the spotlight

Posted on June 24, 2021 at 8:24 am GMT

BoE unlikely to shake markets today, minor upside risks for sterling Dollar back in the ring as Fed lets the hawks out Stocks elevated, another heavy dose of Fed-speak coming up BoE set to maintain optimistic tone All eyes will be on the Bank of England today. This is one of the smaller meetings without a press conference or updated economic forecasts, so any seismic policy signals are unlikely. Still, there is a risk that the BoE upgrades its language [..]

US Open Note – Dollar unlocks new yearly high versus yen; oil posts new high

Posted on June 23, 2021 at 12:53 pm GMT

Dollar/yen flies above 111.00; US futures in red As markets wait for US Markit preliminary readings at 13:45 GMT, the dollar is edging higher. After two red days, the dollar index is practically unchanged below 92.00. The US dollar continues to rise versus the Japanese yen, creating new highs for the year, jumping above 111.00. Following Powell’s remarks, stocks rallied; however, US futures are currently trading flat on Wednesday. The single currency is heading above $1.19 but is still stuck [..]

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