All Articles Tagged - EURUSD

Daily Market Comment – Will the ECB disturb the waters?

Posted on April 22, 2021 at 8:41 am GMT

· ECB unlikely to rock euro – resilient economy vs higher yields · Loonie flies after BoC tapers QE program, signals earlier rate hikes · Wall Street bounces back, earnings season ramps up Lagarde’s tone to drive the euro The spotlight will fall on the European Central Bank meeting today. Not much has happened since the latest decision in March, but if anything, economic developments since then have been slightly encouraging. Economic data like the PMI surveys have been surprisingly [..]

US Open Note – Asian Covid breakout pauses dollar bears; BoC policy decision ahead

Posted on April 21, 2021 at 1:04 pm GMT

Covid, geopolitics feed some risk off Alarming infection breakouts and new variants of Covid-19 in emerging economies threaten a déjà vu of the past in developed countries, or at least are warning of prolonged lockdown measures (see Japan) and a slow recovery from the pandemic despite the vaccination rollouts. Geopolitical conflicts in several corners of the world are adding to this complexity, forcing some investors to seek safety in the US dollar on Wednesday, though the demand for the currency [..]

Daily Market Comment – Can the Bank of Canada pull off a ‘cautious’ tapering?

Posted on April 21, 2021 at 8:54 am GMT

· Bank of Canada likely to scale down its vast QE program today · Dollar breathes sigh of relief, equities retreat as risk aversion returns · Crude oil hit by triple whammy, gold capitalizes on subdued yields BoC to take its foot off the QE gas The Bank of Canada will likely become the first major central bank to scale back its emergency stimulus programs today. The nation’s immunization program is firing on all cylinders and the economy has performed [..]

ECB to stay the course but euro spike could be worrisome – Forex News Preview

Posted on April 20, 2021 at 2:23 pm GMT

The European Central Bank concludes its April policy meeting on Thursday, releasing its statement at 12:45 GMT and President Christine Lagarde updating investors at a press conference at 13:30 GMT. When policymakers last met on March 11, Eurozone yields were spiralling upwards and the outlook for the bloc’s economy was notably bleaker, prompting them to front-load bond purchases. Yields subsequently settled lower, but they are now rising again. However, this time round, things are looking up somewhat for the euro [..]

FX market remains prisoner to the vaccination race – Special Report

Posted on April 20, 2021 at 1:59 pm GMT

The dynamics in the FX market have changed this year. The speed of vaccinations has turned into the most powerful element driving currency moves, as investors recalibrate their expectations for economic growth and the timeline of central bank rate increases. Britain and America have done better than Europe and Japan so far, though Europe seems to be closing the gap. Overall, the prospects for the dollar seem bright, but the same cannot be said for the yen. How we got [..]

US Open Note – Stocks in the red, dollar barely heals, oil surrenders gains

Posted on April 20, 2021 at 1:31 pm GMT

Dollar nudges a tad higher with rising yields, major forex pairs capitalise Major stock markets eased off their recent highs while the dollar index managed to gather some footing around 90.82, prodding just above the 91.00 mark. The recovery narrative, with stimulus in the pipeline and rising yields – 10-year Treasuries advanced to 1.62% – seems to be very much alive, even though the Fed’s insistence that it won’t raise rates prematurely has cooled the dollar lately. Markets’ subdued demeanour [..]

Daily Market Comment – Sinking dollar lifts other FX boats, Wall Street slips

Posted on April 20, 2021 at 8:33 am GMT

· Dollar suffers after technical breaches, revitalizing sterling and euro · Stock markets retreat from records, profit-taking to blame? · Earnings in focus today as traders await the week’s main events April blues hit the dollar A bad month for the US dollar keeps getting worse. The reserve currency fell through some crucial support levels across multiple charts yesterday and negative technical momentum has dominated ever since. It has really been one-way traffic downhill this entire quarter so far. The [..]

US Open Note – Euro capitalizes on battered dollar; Canada unveils new fiscal plan

Posted on April 19, 2021 at 12:56 pm GMT

Europe in green as dollar struggles The persisting weakness in US Treasury yields and some encouraging vaccine news in Europe left the dollar bruised on Monday. The vaccine success in the US and the optimistic outlook for the economy, although supportive to the greenback, have become old news for traders, while the stabilization in US Treasury yields suggests the Fed is likely becoming more successful in convincing markets that monetary policy will remain accommodative at current levels until substantial progress [..]

Daily Market Comment – Battle for the dollar keeps raging, stocks fly

Posted on April 19, 2021 at 8:27 am GMT

· Forex market at a crossroads, dollar breaks crucial support zones · Stocks set new records as earnings season gets underway · Canadian budget in focus today, BoC and ECB meetings later this week Dollar reversal underway? The battle for the US dollar is unfolding in the FX arena, with the reserve currency having just broken crucial support regions across several charts. Euro/dollar has powered above the decisive $1.20 zone, while dollar/yen crossed swords with the 108.40 support barrier and [..]

Technical Analysis – EURUSD’s selling interest continues below 1.20

Posted on April 19, 2021 at 6:38 am GMT

EURUSD failed several times in the past three days to successfully surpass the 1.1985 crucial resistance and the 1.2000 handle. The price has been in a descending movement since January, remaining below the 100-day simple moving average (SMA) and the Ichimoku cloud. The RSI is flattening in the positive region, while the stochastic is looking overstretched as it is turning lower above the 80 level. A break of the 1.1985 obstacle and the 1.2000 handle could shift the bearish bias [..]

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