All Articles Tagged - EURUSD

ECB meeting minutes could be uneventful for the euro – Forex News Preview

Posted on May 13, 2021 at 2:55 pm GMT

The European Central Bank will release the minutes from April’s meeting on Friday at 11:30 GMT providing a detailed explanation about its decision to hold its policy stable last month. The report is not expected to pull anything new out of the hat, but investors could still go through the text to detect any signs that policymakers are willing to start monetary tightening dialogues. PEPP purchases boost not enough to stop yield rally During April’s policy meeting, the ECB left [..]

US Open Note – Dollar rally stalls despite strong jobless claims and PPI

Posted on May 13, 2021 at 1:10 pm GMT

Jobless claims fall again but dollar slips The producer price index and initial jobless claims out of the United States are in the spotlight today after last week’s disappointing jobs report and the surprise jump in inflation yesterday. US initial jobless claims declined to 473 thousand in the week ended May 7 versus 490K forecast after Wednesday’s inflation shock and the Federal Reserve was clear that the employment outlook will have to notably rise before there is a change in monetary policy. Annual inflation climbed to the [..]

Technical Analysis – EURUSD posts bearish correction in Ichimoku cloud

Posted on May 13, 2021 at 9:14 am GMT

EURUSD is retreating after a strong bullish move earlier today, slipping below the 40-period simple moving average (SMA). The RSI is pointing down in the negative territory and the MACD is strengthening its bearish momentum below its zero level. The 20-period SMA is approaching the current market price and the 40-period SMA for a bearish crossover. If the price dives beneath the 1.2065 support, the next hurdle could come from the 1.1993 barrier before meeting the 200-period SMA at 1.1970. Slightly [..]

Daily Market Comment – Stocks tank, dollar roars as inflation shows its teeth

Posted on May 13, 2021 at 8:37 am GMT

· Dollar comes back fighting, stocks pummeled after US inflation surprise · Traders price in Fed rate hike for next year, but it’s still early days · Producer prices coming up today ahead of crucial retail sales tomorrow Inflation wins this round Worries around higher interest rates being on the horizon have returned to torment Wall Street once again after some shockingly strong inflation numbers out of America. Consumer prices clocked in at 4.2% on an annual basis in April, [..]

US Open Note – Stocks stabilize with US inflation uncertainty, dollar flickers green

Posted on May 12, 2021 at 1:28 pm GMT

Market retraction pauses; US CPI shocks markets but effects fade Investors have been patiently awaiting hints from US inflation today on whether the stride of the recovery has somewhat slowed. The risk-off climate is not receiving any assistance from yields and it seems profit taking and inflation could be the premise for the latest risk-off environment. The pullback of the highs in the major US indices continues to denote the deterioration in near-term risk sentiment despite the release of [..]

Daily Market Comment – Tech selloff takes a breather, US inflation data next

Posted on May 12, 2021 at 8:34 am GMT

· Inflation and valuation worries hit stocks, but dip in tech is bought · Dollar cannot capitalize on the troubles in equities · US inflation data today could decide if selloff deepens or fades Inflation scare broadens There is no single explanation for the fear that has gripped Wall Street in recent sessions but there are several theories. Most of it seems linked to inflation and interest rate worries, considering that it’s mostly tech and hyper-growth stocks that have imploded. [..]

US Open Note – Stocks slip and yields muted; dollar takes back seat as inflation fears remain

Posted on May 11, 2021 at 1:27 pm GMT

Stocks in the red and dollar’s might curbed as yields steady The major US indices have pulled back from their highs with the Nasdaq 100 slipping 2.63% and the Dow Jones falling the least. It seems some aftereffects from the freshly inflicted wound of the disappointing NFP payrolls for April may be curbing dollar strength, but subdued yields are also playing their part. The dollar index is flirting with the 90.00 mark after the greenback surrendered to bearish forces. Moreover, [..]

Daily Market Comment – Tech shares blasted, dollar drifts amid inflation scare

Posted on May 11, 2021 at 8:32 am GMT

· Stocks slip as traders cut exposure to tech and pre-profit companies · Dollar unable to capitalize on the risk aversion amid inflation worries · Cable stabilizes after sprint higher, Fed speakers in focus today Dash for value continues Wall Street came under pressure at the start of the new week as the rotation away from growth and tech stocks escalated. While the overall stock market is still near record highs, tech investors are quietly heading for the exits and [..]

US Open Note – Dollar steadies; pound skyrockets after elections

Posted on May 10, 2021 at 12:29 pm GMT

US steadier after slump from soft NFP report Today is a quiet day, with the US dollar moving slightly higher after the poor US jobs reports on Friday, which indicated that the Fed will have to keep accommodative policy for longer. The greenback is likely to remain soft until there is a notable turnaround in US yields. The US dollar index is hovering slightly above the 90.10 barrier, having on Friday created the sharpest decline in five months. Euro/dollar is looking neutral after it reached a new ten-week high of 1.2176 and gold is developing around three-month [..]

Daily Market Comment – NFP disappointment hammers dollar, sends stocks flying

Posted on May 10, 2021 at 8:41 am GMT

· Soft US employment report eases fears around stimulus rollback · Dollar sinks in the aftermath, equities cruise to new record highs · Pound smiles after Scottish election results, gold sparkles NFP disappointment derails Fed tapering speculation A very disappointing US jobs report sent markets into a tailspin on Friday, as investors recalibrated their portfolios to reflect a longer period of support from fiscal and monetary authorities. Nonfarm payrolls clocked in at only 266k in April, falling miles short of [..]

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