All Articles Tagged - EURUSD

Technical Analysis – EURUSD in broken pieces after FOMC damage

Posted on June 17, 2021 at 9:36 am GMT

EURUSD was one of the biggest victims of the hawkish FOMC policy announcement, with the price collapsing by more than 1.30% below May’s lows in the aftermath and extending its freefall lower to 1.1940 on Friday. An upside reversal would not be a big surprise in the near term in the four-hour chart given the RSI’s deep downfall inside the oversold area. The Stochastics also look set for a bullish cross in the oversold territory, though neither of those indicators have showed [..]

Daily Market Comment – Fed bombshell turbocharges dollar, sinks gold and stocks

Posted on June 17, 2021 at 9:19 am GMT

· Fed shocks markets by forecasting much faster rate increases · Dollar storms higher, stocks retreat, gold cracks · Blockbuster data trim losses in aussie and kiwi, focus turns to BoJ FOMC signals two rate hikes in 2023 The Fed sent shock waves through financial markets yesterday after it signalled that rates will likely rise faster than previously expected and that a decision to wind down asset purchases may be just around the corner. The dot plot of interest rate [..]

US Open Note – Markets asleep but ready to decode inflation and FOMC for clues

Posted on June 16, 2021 at 1:40 pm GMT

Stocks ease a bit from highs and dollar remains composed The US major indices are treading water beneath yesterday’s fresh highs, with the Dow Jones Industrial index still lagging behind. Risk appetite seems to be immune to echoes of tapering, and market sentiment remains steady ahead of the upcoming FOMC decision, while US 10-year yields (1.47%) have temporarily eased concerns around inflation pressures. The dollar index is static around the 90.50 mark with the euro ranging around $1.2120 and the [..]

Daily Market Comment – Fed to evade taper talk, but watch the dots

Posted on June 16, 2021 at 8:42 am GMT

· Fed likely to steer clear of any discussion about exiting cheap money · But it might pencil in a rate hike for 2023, lifting the dollar a little · Stocks cool after US retail sales disappoint, crude oil off to the races Too early to talk tapering Global markets will have their gaze locked on the Federal Reserve today, which concludes its meeting at 18:00 GMT. No policy changes are on the cards, so all the action will come [..]

US Open Note – Stocks keep modest advance, dollar mostly muted

Posted on June 15, 2021 at 2:23 pm GMT

Stocks tick up, Retail Sales and PPI data mixed US major indices are perky, with the S&P 500 index and the Nasdaq 100 tiptoeing to new highs and with the Dow Jones industrial index lagging slightly. Improved market mood and falling yields are not providing any assistance to the greenback. The US 10-year yield has pulled back to 1.44%. The dollar index is in the vicinity of its intra-day high of 90.60, and has recaptured minor strength across its forex [..]

Fed meeting: No taper talk, but mind the dots – Forex News Preview

Posted on June 15, 2021 at 1:43 pm GMT

All eyes will be on the Fed when it concludes its meeting at 18:00 GMT Wednesday. It is probably too early for a discussion about an exit strategy from cheap money, but the famous ‘dot plot’ of interest rate forecasts might show a rate hike for 2023. That could lift the battered dollar a little, although any real strength is a story for late summer. Fed to steer away from taper signals The US economy is running on all cylinders, [..]

Daily Market Comment – Wall Street conquers new highs, yen struggles

Posted on June 15, 2021 at 8:45 am GMT

· Tech generals lead stock markets to new all-time highs · Yen suffers as global yields bounce back, dollar quiet · Overall, bonds and stocks send conflicting signals about FOMC Tech stocks back in vogue The party in equity markets continues to rage. The Nasdaq and S&P 500 both hit fresh record highs to kick off the new week, with heavyweight tech names being at the tip of the spear. The price action suggests investors are not particularly worried about [..]

US Open Note – Stocks, oil on the rise; FX markets on the sidelines

Posted on June 14, 2021 at 1:38 pm GMT

Stock indices hit fresh record highs There was no clear winner in the FX space during the European session on Monday as the calendar was empty of market moving events, but the surge in oil and other commodity prices provided a small advantage to risk-sensitive currencies such as the New Zealand and Australian dollars. Rising energy and utility prices underpinned global stocks as well, with the pan-European STOXX 600 and the US S&P 500 futures inching to fresh record highs [..]

Daily Market Comment – Dollar advances as traders brace for Fed decision

Posted on June 14, 2021 at 8:47 am GMT

· Dollar climbs as shorts hedge ahead of Fed meeting on Wednesday · Inflation fears subside overall – Biden infrastructure bill downsized? · Stocks hover near record highs, oil traders bet against Iran talks Investors shake off inflation blues Global markets seem to have concluded that this inflation episode will indeed fade soon. Despite US inflation printing 5% in annual terms last week, Treasury yields actually traded lower and various inflation expectation measures remain under pressure. The verdict is that [..]

Technical Analysis – EURUSD extends short-term bearish tendency to 50-SMA

Posted on June 14, 2021 at 8:38 am GMT

EURUSD could not close above the 20-day simple moving average (SMA) and the 1.2185 level despite last week’s attempt, with the price collapsing to meet support near the 50-day SMA at 1.2091 in the aftermath. Trend signals remain encouraging as the positive SMA crosses are still intact. Yet, as regards the price momentum, the technical indicators are raising a warning flag. The RSI has inched below its 50 neutral level, the MACD continues to decelerate below its red signal line, [..]

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