All Articles Tagged - EURUSD

Daily Market Comment – Dollar extends retreat ahead of Fed minutes

Posted on April 7, 2021 at 8:36 am GMT

Dollar and pound give back ground as bond yields cool down Euro and yen enjoy a relief rally – can it last? Stocks trade quietly, oil shaky, FOMC minutes in sight Dollar and sterling hit by falling yields The new quarter has turned the tables in the currency market, as the rally in bond yields that turbocharged the dollar along with sterling last quarter seems to have run out of fuel for now, breathing some life back into the devastated [..]

Dollar turns to Fed minutes as traders call rate bluff – Forex News Preview

Posted on April 6, 2021 at 2:49 pm GMT

The minutes of the latest FOMC meeting will be released at 18:00 GMT Wednesday. The Fed went out of its way to signal that rates will remain on the floor until 2024, despite the trillions in spending from Congress and the accelerated vaccination program. However, traders are saying that’s a bluff. Market pricing still implies a rate increase by late 2022. Even if the minutes reaffirm the Fed’s cautious message, the overall picture for the dollar still seems positive. Markets [..]

US Open Note – European stocks in cheerful mode; dollar is still the king despite pullback

Posted on April 6, 2021 at 1:15 pm GMT

European indices hit record highs, but economic outlook still bleak The European equities had a pleasant start after a long weekend on Tuesday, rushing to catch up with the rally in US rivals, sending the STOXX 600 and the German DAX 30 to fresh record highs early on Tuesday. The stock rally emerged after a barrage of US data provided evidence that the recovery in the biggest economy of the world is picking up steam, while news that some Democrats favor [..]

Daily Market Comment – Stocks fly to new records after ISM data, but dollar suffers

Posted on April 6, 2021 at 8:48 am GMT

US equities take to the skies amid stellar data and tax doubts Dollar drops as euphoric mood diminishes safe-haven demand Euro and yen capitalize on dollar’s setback, but for how long? Promising data and tax doubts power up equities There’s no stopping the stock market freight train. Euphoria took over financial markets on Monday after another stellar batch of US economic data, propelling the S&P 500 to new record highs. The catalyst was the ISM non-manufacturing survey, which hit an [..]

US Open Note – Dollar’s bullish trend is your friend; pound at 2-week highs

Posted on April 5, 2021 at 1:07 pm GMT

Dollar’s bullish run could see more extensions Stock and bond trading will resume at normal hours today in the US, as European traders will remain out of the office to celebrate Easter Monday. Following the stellar NFP release on Friday, the ISM non-Manufacturing PMI for March will probably extend its upward trajectory comfortably within the expansion area at 14:00 GMT, backing the progress outlined by the Markit PMI readings, which will also see their final revision a few minutes before [..]

Daily Market Comment – Dollar smiles after stellar jobs report, RBA in focus

Posted on April 5, 2021 at 8:55 am GMT

Dollar and equities cruise higher after encouraging US employment data Elevated yields continue to keep euro and yen under pressure RBA policy decision and ISM services survey coming up Good times in the United States The aftershocks of the stellar US employment report are still reverberating across global markets on Monday, as most of Europe and several Asian trading hubs remain closed for holidays. The US economy added an impressive 916k jobs in March, far more than the projected 660k, [..]

Technical Analysis – EURUSD flickers red below 200-day SMA

Posted on April 5, 2021 at 8:51 am GMT

EURUSD’s correction below the 200-day simple moving average (SMA) is transmitting a growing bearish tone. The falling 50-day SMA appears to be heading for a bearish crossover of the 200-day SMA as well, which would further power the negative picture. The flattening blue Kijun-sen line is reflecting the minor bounce in the pair however, the Ichimoku lines are backing the price’s descent. That said, the short-term oscillators are conveying conflicting signals in directional momentum. The MACD, some distance under the [..]

US Open Note – NFP skyrockets, showing strong recovery in US; dollar turns green

Posted on April 2, 2021 at 1:00 pm GMT

Nonfarm payrolls surge by 916k; unemployment rate plunges Today’s nonfarm payrolls report is the biggest and only event of the day in the absence of any other data due to most markets being closed for Good Friday, with forex being the only notable market open. The report generated some volatility in the greenback after several months of muted impact. The US economy added 916k jobs in March from February’s job growth of 379k, beating expectations of a 660k increase, the strongest employment growth in seven months. The unemployment rate ticked [..]

Technical Analysis – EURUSD trapped in a range; key obstacles remain ahead

Posted on April 2, 2021 at 12:10 pm GMT

EURUSD is in a tight range between the 23.6% Fibonacci retracement of the 1.1988 – 1.1703 downfall and the 50-period simple moving average (SMA) on the four-hour chart for the second consecutive day. The momentum indicators provide a mixture of signals. The MACD prepares to enter the positive area and the RSI, although a bit weaker remains above its 50 neutral mark, both keeping the short-term risk tilted to the upside. On the other hand, the green %K line of [..]

Week Ahead – A battle of yields as RBA meets, Fed and ECB publish minutes

Posted on April 2, 2021 at 11:31 am GMT

With most markets closed on Monday for the Easter celebrations, it will be a fairly muted week as there’s not a lot on the agenda that can excite markets. The Reserve Bank of Australia’s policy decision will be the main highlight, but the minutes of the Federal Reserve’s and European Central Bank’s last meetings could stir some reaction too as policymakers tread water so as not to deepen the bond rout. Outside of the central bank sphere, employment numbers out [..]

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