All Articles Tagged - EURUSD

Daily Market Comment – Markets subdued as ECB, Fed, US spending and inflation outcomes awaited

Posted on June 8, 2021 at 9:03 am GMT

Traders are biding their time as ECB and Fed decisions loom along with US CPI data White House infrastructure talks also in focus as negotiations drag on Stocks hover near highs as dollar ticks up, but US yields slip again Dollar inches higher as ECB, Fed and inflation eyed Markets were mostly drifting sideways on Tuesday, awaiting fresh clues on stimulus plans in Europe and the United States as fears of central bank tapering and higher inflation continue to haunt [..]

US Open Note – Risky currencies cheer on dollar weakness as stocks ease

Posted on June 7, 2021 at 12:54 pm GMT

Dollar fails to move up again after disappointing NFP The eagerly awaited NFP release for May on Friday was better than April’s figure, however, it disappointed investors. The unemployment rate fell to 5.8% but the greenback finished the day sharply lower. Today, dollar/yen is continuing the selling interest with weaker momentum, trading near 109.40, while the US dollar index is recovering some losses. US stock futures were slightly on the downside after a positive day on Friday. In Washington, the two main parties are sticking to their different approaches on [..]

Daily Market Comment – Dollar left reeling after soft NFP; stocks mixed as US CPI around the corner

Posted on June 7, 2021 at 9:03 am GMT

US jobs report disappoints again, sending gains in US dollar and yields into reverse Wall Street buoyed by goldilocks recovery but cautious start to week as US CPI eyed Aussie wipes out losses but euro treads water ahead of ECB meeting NFP miss allays early Fed taper fears It was another disappointing Jobs Friday as predictions for May nonfarm payrolls were again off the mark. Payrolls rose by 559k against estimates of 650k – not as huge a miss as [..]

Technical Analysis – EURUSD rebounds off 40-day SMA; bullish bias

Posted on June 7, 2021 at 6:02 am GMT

EURUSD has been moving upwards after the bounce off the 40-day simple moving average (SMA) and a three-day bearish run. The pullback off the 1.1700 psychological level opened the way for a positive structure in the short-term timeframe. The RSI is pointing up near the neutral threshold of 50, however, the stochastic is heading south, mirroring the latest selling interest. In case the bulls hold the control, the price is ready to meet the 1.2267 barrier before meeting the 32-month [..]

US Open Note – US Nonfarm payrolls question the case of bond tapering

Posted on June 4, 2021 at 1:56 pm GMT

NFP not as great as expected Thursday’s job indicators build up enthusiasm that April’s long-shot miss in US Nonfarm payrolls was a one-off incident, inspiring dollar bulls and helping US Treasury yields to recoup some lost ground. Indeed, the eagerly awaited new NFP release for the month of May was brighter than April’s print but the jobs data did not amuse investors. Nonfarm payrolls surged by 559k, slightly missing the forecast of 650k, and standing well below the remarkable ADP reading of 900k. The [..]

Week Ahead – ECB and BoC to test taper waters; US CPI in spotlight too

Posted on June 4, 2021 at 1:01 pm GMT

The European Central Bank will pretend it is not thinking about tapering when it meets next week, while the Bank of Canada will take a step back to assess its recent decision to get the ball rolling on its QE exit process. As the two central banks set the stage for the FOMC meeting in the following week, the May CPI print out of America will catch the attention of the US dollar. In an otherwise quietish week, sterling will [..]

Weekly Comment – EUR rally loses fizz ahead of ECB; USD hoping for another CPI boost

Posted on June 4, 2021 at 12:05 pm GMT

EUR is on the backfoot ahead of Thursday’s ECB policy meeting but Lagarde will have her work cut out in putting on a convincing dovish front so there is hope yet for euro bulls. It’s been a rare positive week, however, for USD and further gains could be on the cards if next week’s US inflation data shoots higher again. The highlights: ECB policymakers have played down a taper move at the June meeting. But even if they were to [..]

Daily Market Comment – Dollar comes alive, tech stocks struggle ahead of nonfarm payrolls

Posted on June 4, 2021 at 8:29 am GMT

· Dollar jumps, gold tanks after strong jobs data fuels hopes for NFP today · Tech stocks struggle for altitude amid Fed tapering and tax worries · Fed chief Powell speaks, Canadian employment data also due NFP buzz and ISM data revive the dollar The US dollar came back to life yesterday after some encouraging data releases revived concerns about an earlier withdrawal of Fed liquidity and forced traders to hedge some of their short bets on the reserve currency. [..]

US Open Note – Optimism on US jobs outlook grows ahead of NFP; stocks, gold down

Posted on June 3, 2021 at 1:13 pm GMT

The sound of silence The FX community maintained a silent mode for another day as traders eagerly waited for Friday’s nonfarm payrolls to clarify whether the calls for monetary tightening could step up in the coming months. Despite the Fed’s refusal to shift towards the tapering side in previous months, the central bank seems to be slowly feeding the ground for a hawkish turn, with Philadelphia’s Fed President Patrick Harker arguing on Wednesday that “it is time to at least think about thinking about [..]

Technical Analysis – EURUSD loses steam in long-term bullish tendency

Posted on June 3, 2021 at 9:23 am GMT

EURUSD is retreating beneath its 4-hour period simple moving averages (SMAs) but it looks ready to find strong obstacle at the longer-term ascending trend line in the next sessions. The RSI indicator is falling after the bounce off the 50 level, while the MACD is remaining below its trigger line around its zero level, failing to strengthen the negative bias. If the pair penetrates the diagonal line to the downside, it could hit the 1.2160 support and the 1.2130 barrier, [..]

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