All Articles Tagged - EURUSD

Mighty dollar turns its gaze to data barrage – Forex News Preview

Posted on June 23, 2021 at 12:05 pm GMT

The testimony by Chairman Powell before Congress didn’t reveal anything new, so markets will now turn their gaze to the upcoming US data on Friday. With the Fed expected to take the next step towards tapering in August, every data point is crucial. As for the dollar, the wind could continue to blow in its favor as markets position for less Fed liquidity, especially with the ECB heading in the opposite direction. Dollar comes back swinging The Fed sent shock [..]

Daily Market Comment – Dollar stable, equities advance as Powell calms nerves

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

· Dollar trapped between soothing Fed remarks and longer-term path · ECB considers higher inflation target, ECB/Fed divergence coming? · Eurozone PMIs edge higher as reopening momentum grows Fed puts the brakes on resurgent dollar Global markets continue to dance to the beat of monetary policy signals. The world’s reserve currency surrendered some of its latest gains and equities clawed their way back to record highs this week as the Fed did some damage control, with several officials playing down [..]

US Open Note – Stocks stabilize and dollar strength lingers

Posted on June 22, 2021 at 1:41 pm GMT

Stocks level as yields support dollar; eyes on Fed Chair’s testimony US major indices are currently poised after yesterday’s rally that recaptured the ground lost after the Fed’s hawkish shift and indication that tapering is on the horizon, along with two interest rate hikes in 2023. Higher dot plot predictions alongside revised inflation and economic projections have slightly jolted markets. In general markets are reacting to employment and inflation more than other market drivers and risk appetite today appears subdued, [..]

Daily Market Comment – Wall Street bounces back, dollar takes a break

Posted on June 22, 2021 at 9:23 am GMT

· Stock markets reclaim lost ground, dollar pauses as Fed worries abate · Oil grinds higher amid fading hopes for US-Iran deal, gold stabilizes · All eyes on Fed chief Powell’s testimony today at 18:00 GMT Don’t fear the Fed The inflation trade took a beating after the Fed’s seismic signals about faster rate increases, but the blues didn’t last long. Wall Street staged a massive comeback on Monday as market participants concluded that cheap money is helpful, but not [..]

Technical Analysis – EURUSD finds footing near 23.6% Fibo; upside bias weak

Posted on June 21, 2021 at 6:00 am GMT

EURUSD has steadied slightly above 1.1856, which is the 23.6% Fibonacci retracement of the January-March downleg, following the sharp slide from the 1.21 vicinity last week. However, the upside pressure is extremely weak as momentum indicators remain deep in bearish territory. The MACD histogram has slumped below zero, falling far beneath its red signal line. The stochastics are also buried in the oversold zone below 20 and the %K line is barely ticking higher. However, should it manage to complete [..]

US Open Note – Dollar charts best week of 2021; stocks, commodities under pressure

Posted on June 18, 2021 at 1:18 pm GMT

Dollar keeps FOMC power The US dollar, the world’s reserve currency, is heading for its best weekly trade in nine months buoyed by the FOMC’s hawkish turn, which bolstered the outlook for the US economy and put European currencies and commodities on the back seat. US stocks fall but tech sector holds resilient Global stock indices also retreated in fear of higher interest rates for US businesses in the next few years and on concerns other central banks could also [..]

Week Ahead – Fired up dollar looks to PCE inflation; flash PMIs and BoE eyed too

Posted on June 18, 2021 at 12:28 pm GMT

After the Fed’s abrupt but not totally unexpected hawkish turn, the supercharged US dollar will be hoping for another shot in the arm from next week’s PCE inflation data. Meanwhile, the flash PMI readings for June will be making the rounds in all the major markets. The forward-looking PMI surveys could further bolster tapering speculation – not just for the United States but elsewhere too – as economies around the world reopen with the help of ramped up vaccinations. In [..]

Weekly Comment – USD rampages after Fed, Bank of England coming up

Posted on June 18, 2021 at 11:48 am GMT

The USD stormed higher this week after the Fed signalled that the days of cheap money are coming to an end. That triggered a massive unwind of the entire ‘inflation trade’, with gold getting hammered alongside every other commodity. The coming week will bring a barrage of economic data along with a Bank of England meeting. Highlights ahead: · The main event will be the BoE decision on Thursday. Not much is expected, but there is a possibility the Bank [..]

Daily Market Comment – Nasdaq hits new record as markets say inflation is dead

Posted on June 18, 2021 at 8:51 am GMT

· Tech stocks power higher as markets bet Fed will tame inflation · Dollar keeps rampaging, gold heads for massive weekly losses · Pound struggles after soft data, quadruple witching coming up Inflation-linked trades fall apart Bets for raging inflation in the coming years are being unwound at a stunning pace, sparking all sorts of havoc in the markets. It all comes back to the Fed, which signaled that the days of infinite liquidity are drawing to an end and [..]

US Open Note – FOMC hangover supports dollar as euro and gold dig lower; BoJ rate decision ahead

Posted on June 17, 2021 at 1:23 pm GMT

FOMC triggers much awaited volatility After a period of calmness, the upward revision in the FOMC rate projections displayed in the long-awaited dot plot came to shake the waters late on Wednesday, reviving the rally in global bond yields and of course amplifying the buying confidence in the dollar. In fact, investors had pretty much acknowledged that the monetary policy in the US will be a one-way path to tightening in the coming years even before the hawkish announcement. However, [..]

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