All Articles Tagged - EURUSD

Daily Market Comment – Dollar gets a second wind ahead of ISM data

Posted on May 3, 2021 at 9:44 am GMT

· Taper talk, mild risk aversion, and month-end flows reawaken the dollar · Wall Street takes a minor hit but after a fantastic month · All eyes on ISM survey today and RBA rate decision afterward Dollar strikes back A battle of narratives continues to rage in the forex market, with mounting signs that the US economy is in the early stages of a stimulus-fueled boom being negated by the Fed’s insistence that this won’t be enough to trigger any [..]

Technical Analysis – EURUSD absorbs losses but holds above crucial $1.20 region

Posted on May 3, 2021 at 6:53 am GMT

EURUSD took some heavy fire over the past few sessions, but the current structure of higher highs and higher lows does not appear to have been violated, keeping the recent rally in play for now. That said, a clear close below the critical 1.1995 support zone could change all that, shifting the positive structure back to neutral and setting the stage for further declines. The short-term oscillators reflect the latest drop in the market, with the RSI hovering just above [..]

Daily Market Comment – Dollar set for big monthly losses, stocks struggle for direction again

Posted on April 30, 2021 at 8:56 am GMT

Dollar steadier but month-long rout probably not over yet, yen firmer too S&P 500 closes at another record high but stocks slip today amid some jitters Copper soars past $10,000 a tonne, oil moderates after boost from upbeat US GDP Don’t fight the dovish Fed The US dollar is on track for its worst 4-week run since last July and looks set to end the month with losses of at least 2.5%. An uptick in the growth outlook for some [..]

US Open Note –Stocks strong around highs, yields receive boost, dollar on back foot

Posted on April 29, 2021 at 1:44 pm GMT

Stocks optimistic as yields rise, risk remains somewhat subdued, GDP data key Stocks maintain an upbeat tone with the S&P 500 index winning the race, currently at the 4,214 level. The dollar index has surrendered its latest gains to today’s high of 90.67, pulling slightly lower to 90.53. The stumble in the greenback has strengthened the euro to $1.2133 assisted by a slur of positive Eurozone data, which is outperforming the relatively subdued sterling at $1.3944. The Fed has somewhat [..]

Daily Market Comment – Powell sinks dollar but can’t keep yields down for long

Posted on April 29, 2021 at 9:19 am GMT

US dollar and yields tumble after Powell says not the time to talk about taper But yields bounce back ahead of expected surge in Q1 GDP data, weigh on equities Blowout tech earnings finally inject some life into Wall Street, futures up Powell as dovish as ever The Federal Reserve struck a more positive tone on the US economy on Wednesday as it kept monetary policy unchanged as widely expected. Policymakers acknowledged the progress on vaccinations and greater flow of [..]

Technical Analysis – EURUSD loses momentum after flirting with 2-month high

Posted on April 29, 2021 at 7:02 am GMT

EURUSD appears to be maintaining an upside tendency as it is holding above the ascending trend line and the simple moving averages (SMAs). Earlier today, the pair reached a new two-month high of 1.2149, but it returned quickly lower, flirting with the 1.2100 handle. The mixed signals in the short-term oscillators further reflect downside retracement in the very short-term. The MACD has barely inched above its red trigger line in the positive region, while the RSI is heading south after [..]

Eurozone GDP to confirm double-dip recession but euro looks to brighter Q2 – Forex News Preview

Posted on April 28, 2021 at 2:58 pm GMT

The flash estimate of first quarter GDP growth is due out of the Eurozone on Friday at 09:00 GMT. Fresh lockdowns are expected to have dragged the euro area economy into a double-dip recession, highlighting Europe’s bumpy recovery road. However, forward-looking indicators suggest a rebound is already underway, and combined with the pick-up in Europe’s vaccination pace, investors are more optimistic about the months ahead. Consequently, the euro has perked up lately, but how sustainable is this bullish phase? Not [..]

US Open Note – Fed decision in spotlight; dollar rises near 109 yen

Posted on April 28, 2021 at 1:11 pm GMT

FOMC meeting in focus; dollar heads higher The major highlight of the day is the Federal Reserve’s policy announcement at 18:00 GMT. Policymakers will likely recognize the fast economic recovery from the pandemic as the progressing vaccination program brightens the outlook for the economy. Despite that, the central bank is expected to keep interest rates steady within the target range of 0-0.25% and its monthly bond purchases stable at $120 billion. Following the Bank of Canada’s bond tapering announcement, investors will be eaerly waiting to hear whether the Fed is also planning [..]

US Open Note – Market in calm tone ahead of earnings and FOMC

Posted on April 27, 2021 at 12:57 pm GMT

Dollar and euro tick up The greenback is regaining some ground versus the Japanese yen, holding around 108.40 ahead of the Federal Reserve policy decision tomorrow, no changes are expected in policy settings. The dollar index is still moving with weak momentum near 91.00 and below the 50-day simple moving average (SMA). Jerome Powell will give hints on whether improving economic conditions justify a tapering of monetary easing. Euro/dollar is flattening, remaining below the two-month high at 1.2116 and pound/dollar is surpassing the 1.3900 number. In commodity [..]

Daily Market Comment – Dollar pares losses, stocks muted in wait for Fed, earnings

Posted on April 27, 2021 at 9:10 am GMT

Firmer Treasury yields help dollar steady as traders look to Fed for the next cue US consumer confidence data, Treasury auction eyed as inflation worries persist Another record on Wall Street as earnings season heats up but overall mood subdued Dollar attempts rebound as Fed outcome awaited The US dollar was still licking its wounds on Tuesday as it clawed higher in lacklustre trading ahead of the FOMC decision on Wednesday. Although nothing new is anticipated by the Fed tomorrow [..]

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