All Articles Tagged - EURUSD

Daily Market Comment – Fed sets stage for taper, meme stock madness returns

Posted on June 3, 2021 at 8:43 am GMT

· Fed says it will start selling corporate bonds, dollar yawns · Crude oil storms higher as traders bet against Iran deal · Markets quiet ahead of key data, but meme stocks strike back Fed to unwind corporate bond holdings The currency and equity markets remain frozen in a holding pattern, unable to break out even after the Fed announced it will start selling the corporate bonds it bought last year when the credit sector was in tatters. This serenity [..]

US Open Note – Stocks muted near highs, dollar receives hawkish shot

Posted on June 2, 2021 at 2:44 pm GMT

Stocks risk appetite fades; dollar briefly gains an edge US major indices remained largely unchanged near their highs, while the dollar got a boost from the Fed tapering talk-jab, which saw the greenback regain the upper hand over some of its peers in the forex space. The dollar index extended yesterday’s price developments towards the 90.20 mark but the recent dollar strength may not prove so sustainable, especially as this week’s market sentiment is highlighted by NFP payrolls. The EUR/USD [..]

Daily Market Comment – Crude oil powers higher, dollar quiet after ISM data

Posted on June 2, 2021 at 8:35 am GMT

· Oil prices climb after OPEC signals nothing new · Dollar quiet, equities surrender gains but remain elevated · Loonie rides the oil wave, Turkish lira falls to new record lows OPEC kicks the can down the road Crude oil prices stormed higher yesterday to touch levels not seen since late 2018 after the world’s most powerful oil cartel did not signal any further increases to its production levels beyond July, as some feared. The producers apparently didn’t even discuss [..]

US Open Note – Stocks improve after US holiday, dollar even ahead of US data

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

Stocks flash risk-on and dollar holds neutral; gold and oil hover near highs Risk-appetite seems to have accumulated after the US Memorial Day holiday with US major indices continuing to improve. The vulnerable dollar remains defenceless receiving no assistance from yields, with the 10-year yield at depressed levels around 1.55%. The dollar index is largely static around 89.85, underperforming against its forex peers. Although the US economy remains robust with rising consumption despite inflation picking up, the news today could [..]

Daily Market Comment – Dollar struggles ahead of key data, OPEC decision coming up

Posted on June 1, 2021 at 8:22 am GMT

· Dollar drops in thin trading, turns gaze to ISM data and Fed speeches · OPEC meeting unlikely to roil markets, but Iranian negotiations might · Aussie unscathed by RBA, gold continues to rampage Greenback trades heavy The US dollar was the main mover in an otherwise quiet session on Monday, with American and British traders away on public holidays. There doesn’t seem to be an end to the dollar’s suffering. Inflation is heating up and yet the Fed remains [..]

Eurozone inflation expected to soar, but euro only has sights on ECB – Forex News Preview

Posted on May 31, 2021 at 2:17 pm GMT

With price pressures brewing around the world, inflation in the euro area looks set to hit the highest in two and a half years. The flash estimates for May are due on Tuesday (09:00 GMT) but it’s doubtful if the data will stir much of a reaction in the euro. The European Central Bank meets in 10 days’ time and speculation is mounting about what policymakers will signal about the pace of asset purchases going forward. Taming the hawks Inflationary [..]

US Open Note – Dollar negative as European stocks end May with a gain; RBA policy meeting in focus

Posted on May 31, 2021 at 1:43 pm GMT

Inflation fears, tightening speculation stretch into the summer Markets were in a wait-and-see mode as the final day of May found the US and UK closed for holidays and monthly trading arrangements already settled. Investors will closely monitor economic data during the summer months for clues on whether the advance in inflation is something more than temporary and how long the Fed could stand pat on tapering calls without damaging the dollar. A handful of central banks have already opened [..]

Daily Market Comment – Busy week kicks off with RBA and OPEC meetings

Posted on May 31, 2021 at 8:22 am GMT

· Equity and currency markets generally quiet with US and UK on holiday · It’s a packed week though – RBA and OPEC get the show rolling · Overall, investors seem awfully comfortable with prospect of Fed taper Taper blues not enough to dent sentiment The Fed’s leadership recently opened the door for discussing when cheap money policies should start being withdrawn, and yet global markets don’t seem bothered at all. The major US stock indices are hovering near record [..]

Technical Analysis – EURUSD’s bullish move remains around 1.22

Posted on May 31, 2021 at 6:07 am GMT

EURUSD has been trading upwards in line with the 20-day simple moving average (SMA), standing beneath the almost five-month high of 1.2267. The rebound off the 1.1700 psychological level opened the way for a positive structure in the short-term timeframe. The RSI is in a flattening mode above the neutral threshold of 50, however, the stochastic is heading north, mirroring the latest price rebound on the 20-day SMA. In case the bulls hold the control, the price is ready to [..]

US Open Note – Dollar continue to rise after core PCE price data

Posted on May 28, 2021 at 1:07 pm GMT

Core PCE data boost dollar The spotlight of the day is the release of the US core PCE price data. The figure for April rose to 3.1% y/y from 2.9% that was the expectation and 1.8% in March. This is the highest since August 1992 and above the Fed’s 2% target for the first time since 2018. PCE is the Fed’s preferred measure of inflation so traders watch it closely. Personal income increased to -13.1% from -20.9% previously, while personal [..]

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