All Articles Tagged - EURUSD

US Open Note – Dollar rebounds off new lows ahead of busy week

Posted on April 26, 2021 at 1:18 pm GMT

Dollar remains under pressure; big earnings are coming up The key event of the week is the FOMC meeting on Wednesday and a packed earnings schedule, starting with Tesla after the US market close. As US yields are still depressed, the US dollar index is drifting below the 91.00 crucial level, while dollar/yen is moving horizontally around the 108.00 round number after the pullback off the 13-month peak of 110.95. If there is a turnaround in US yields then there is an expectation of the dollar to regain some ground. US Durable [..]

Daily Market Comment – Dollar slump deepens, stocks quiet ahead of big earnings

Posted on April 26, 2021 at 8:51 am GMT

Dollar rout continues as Fed expected to repeat dovish message Euro capitalizes, climbs to 2-month top on renewed European optimism Stocks lack direction, await key earnings and barrage of US data releases Dollar stuck in the doldrums but yields firmer eyeing Fed It’s Fed week but the dollar can’t catch a break as the US currency extended its slide on Monday against its major peers amid a combination of a dovish Fed rate outlook and rising optimism in other parts [..]

Technical Analysis – EURUSD reaches the light at the end of the tunnel

Posted on April 26, 2021 at 8:22 am GMT

EURUSD is tackling the 1.2112 high after thrusting above the flattening 100-day simple moving average (SMA), which was recently capping gains of the pair’s rally off 1.1703. The 100- and 200-day SMAs are still sponsoring the bullish picture, while the negative bearing of the 50-day SMA has somewhat subsided, giving additional credence to the recent price ascent. The Ichimoku lines are reflecting growing positive momentum, as are the short-term oscillators, which are skewed more to the upside. The MACD, in [..]

Weekly Comment – Will the Fed bring the dollar back to life?

Posted on April 23, 2021 at 1:26 pm GMT

It was an eventful week in global markets. The Bank of Canada scaled back its asset purchase program, the euro capitalized on a rosier economic outlook thanks to faster vaccinations, and stocks retreated from record highs amid fears of higher capital gains taxes. The upcoming week seems even more electrifying. What to watch: · The Federal Reserve concludes its meeting on Wednesday. It will probably be a quiet one, but if investors sense that the Fed might follow in the [..]

US Open Note – Dollar marks third cold week as euro shines; US PMIs next into focus

Posted on April 23, 2021 at 1:15 pm GMT

Another bad week for the dollar It’s been the third depressing week for the US dollar as investors had more to chew in Europe. The US economy is widely expected to grow at its fastest annual pace in decades this year as its successful vaccination program and the falling infection and death rates reduce the case for more lockdowns. But this is already old news, and as long as the Fed shows no willingness to step off the accelerator pedal, [..]

Week Ahead – Fed to be a yawn but glowing US data could spoil the calm

Posted on April 23, 2021 at 12:46 pm GMT

Never have central bankers so seemingly sung from the same hymn sheet as Fed policymakers have in the past few weeks. Having successfully aligned market expectations, the Federal Reserve is almost certain to repeat the message that QE tapering is not on the near-term horizon when it meets next week. The Bank of Japan is also not expected to diverge from recent language when it announces its latest policy decision. Traders are therefore likely to turn their focus on the [..]

Daily Market Comment – Stock markets retreat on old tax news

Posted on April 23, 2021 at 8:50 am GMT

· Wave of selling hits stock markets after recycled capital gains tax story · Euro pulls back after ECB downplays tapering, rebounds after PMIs · Pound snoozes after British PMIs, American ones also on the agenda today Algos go haywire or investors sleeping at the wheel? It was a surreal session in financial markets. Wall Street took a hit to close almost 1% lower, following reports that the White House will seek to double the capital gains tax that wealthy [..]

US Open Note – Euro steady after ECB; US jobless claims endorse economic recovery

Posted on April 22, 2021 at 1:27 pm GMT

ECB policy decision as expected The European Central Bank (ECB) met analysts’ expectations today, leaving its interest rates unchanged and its asset purchases steady, reaffirming its pledge to maintain a flexible approach as regards the PEPP program within the envelop of 1.85 trillion euros. The policy statement did not bring up anything new, leaving euro/dollar below the key resistance of 1.2070 – 1.2100 despite the recent rising upside pressures in the market. The global yield rally prompted the central bank [..]

A panoramic view of the US economy and dollar in 10 charts – Special Report

Posted on April 22, 2021 at 1:14 pm GMT

The pandemic inflicted a lot of damage on the US economy, but thankfully, the worst has passed. It turns out that when Congress and the Federal Reserve join forces to fight a crisis, the stimulus response is so overwhelming that it eclipses everything else. Take a look below for a bird’s-eye view of the US economy and the reserve currency in 10 charts. Vaccination program running like a well-oiled machine Businesses struggling to find workers again Consumers have been loading [..]

Technical Analysis – EURUSD ticks up above SMAs; bullish bias

Posted on April 22, 2021 at 11:03 am GMT

EURUSD is posting a strong upside rally after the bounce off 1.1700, holding for now above the 1.2000 psychological mark. Currently, the price is holding marginally beyond the 20-period simple moving average (SMA) and the RSI is ticking higher in the bullish region. Moreover, the MACD is ready to extend its positive momentum above its trigger and zero lines. In case the bulls continue to move up, immediate resistance could be faced from the 1.2080 and 1.2110 barriers. Steeper increases [..]

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