All Articles Tagged - EURUSD

US Open Note – Dollar lacks direction amid market calm; US stocks freeze

Posted on April 12, 2021 at 1:00 pm GMT

Dollar flattens in absence of data today; pound rises A calm day is on the table as dollar/yen is stable around 109.35 and the US dollar index is moving horizontally and marginally below the 200-day simple moving average (SMA) as the US data in the next days may drive the greenback even higher. The US Congress is starting to work on the infrastructure package with President Biden meeting centrist lawmakers from both parties. It is noteworthy that the US fiscal stimulus will be [..]

Technical Analysis – EURUSD bulls run out of steam near 1.1900; trend bearish

Posted on April 12, 2021 at 11:03 am GMT

EURUSD is struggling to set a foothold above the 200-day simple moving average (SMA) despite inching above that line to reach an almost three-week high of 1.1926 last week. The 38.2% Fibonacci retracement of the 1.2242 – 1.1703 down leg seems to be another struggle in the neighborhood, preventing any close above the 1.1900 level. The technical indicators keep reflecting some caution in the market as the RSI is striving to extend beyond the 50 neutral mark and the Stochastics [..]

Daily Market Comment – Firm start for dollar after upbeat Powell; stocks cautious ahead of earnings

Posted on April 12, 2021 at 9:13 am GMT

Dollar edges up after uptick in US producer prices and a more positive Powell But yields ease slightly ahead of huge Treasury auctions Equities weighed by earnings caution and fears of China policy tightening Dollar tries to put bad week behind it It was a relatively calm start to the week in FX markets, but the momentum seems to be clearly behind the US dollar following a jump in US producer prices on Friday as well as Fed Chair Powell [..]

Week Ahead – US and China data could reinforce optimism but RBNZ to sound caution

Posted on April 9, 2021 at 12:17 pm GMT

As the dollar recedes on some scepticism around the aggressive bets of an early Fed tightening, US inflation and retail sales numbers due in the coming week could reignite those expectations. There could be a further boost to the global recovery outlook if Chinese GDP figures point to strong growth in the first quarter. In the UK, the monthly GDP print might not be able to provide much respite for the sagging pound and the kiwi might have a hard [..]

Daily Market Comment – US equities continue to rampage as Powell reassures

Posted on April 9, 2021 at 8:32 am GMT

Dollar headed for losing week as Fed rate hike bets cool Stock market party continues to rage, gold attempts comeback ECB minutes cheer up the euro, sterling loses its shine ‘Opposite week’ in currencies It’s been an eventful week for currency markets, with the trends that dominated earlier in the year going into reverse. In the first quarter, investors became confident the Fed would raise interest rates by next year already thanks to a rosier economic outlook, resulting in a [..]

US Open Note – Dollar drives on a slippery road as euro fights key resistance

Posted on April 8, 2021 at 1:07 pm GMT

Risk-on weighs on dollar Reduced appetite for safety kept the dollar pinned on the downside during the European trading hours as the FOMC meeting minutes reiterated late on Wednesday what markets already know about the progressive recovery in the US economy and the Fed’s commitment to keeping policy super accommodative until it sees sustainable growth. As usual, the minutes also highlighted that any upside inflation pressures this year will likely be transitory and interest rates will not rise before 2024. [..]

Daily Market Comment – Stocks conquer new heights, dollar stable after Fed signals

Posted on April 8, 2021 at 8:28 am GMT

Wall Street futures cruise to new records, approach key resistance Dollar stages minor comeback after Fed minutes, pound hit by vaccine woes ECB minutes and speech by Fed Chair Powell on the docket today Fed vs markets The minutes of the FOMC meeting contained no new revelations, but there was a clear sense of optimism about America’s economic fortunes. While the officials highlighted the various downside risks, they also emphasized the benefits from the overload of federal spending and the [..]

Technical Analysis – EURUSD moves up around 1.19 in near term

Posted on April 8, 2021 at 8:07 am GMT

EURUSD eased below the 1.1900 psychological level again, finding resistance at 1.1915 and the 200-period simple moving average (SMA). However, the rebound off the five-month low of 1.1700 is still in place, pushing the price well above the short-term SMAs. From a technical perspective, the RSI indicator is showing some positive signals and is approaching the overbought territory, though the MACD is holding below its trigger line in the bullish area. More advances could take the pair towards the 1.1915 barrier, which [..]

US Open Note – Stocks stabilize and dollar on back foot ahead of FOMC minutes

Posted on April 7, 2021 at 1:49 pm GMT

Stocks hover at highs, dollar slips as yields ease, oil ranges A subdued risk tone is emanating in markets as stocks are holding around their highs but the dollar’s latest weakness seems may continue for a while longer, as 10-year yields (1.65%) provide mild downside pressure. The greenback’s broader feebleness has dipped the dollar index below the Asian session’s low of 92.23 and it appears to be eyeing the 92.00 handle, while this propelled the euro to 1.1880 per dollar. [..]

ECB meeting minutes to witness support for increased bond buying – Forex News Preview

Posted on April 7, 2021 at 11:46 am GMT

The European Central Bank (ECB) will publish the accounts of its March 10-11 meeting on Thursday at 11:30 GMT, providing a clear explanation about its decision to increase the pace of its asset purchases within the program’s limits and keep interest rates steady. The report may bring nothing new to the table, likely causing little movement to the euro, which remains cornered on the downside despite its latest rebound. ECB reacts on yield rally The sell-off in global bond markets [..]

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