All Articles Tagged - EURUSD

Daily Market Comment – Dollar and yields retreat as S&P 500 smashes 4,000 level

Posted on April 2, 2021 at 8:46 am GMT

Biden’s tax increases dampen Treasury yields, dollar slips back S&P 500 hits new record above 4,000 amid recovery hopes, NFP eyed Oil likes OPEC+ plans to gradually ease supply curbs Dollar on the backfoot ahead of NFP The US dollar was struggling to hold onto to its weekly gains after falling sharply on Thursday on the back of the slide in Treasury yields. The retreat in long-dated yields comes after President Biden said his $2 trillion infrastructure plan would be [..]

Daily Market Comment – Biden infrastructure plan gets lukewarm reception, dollar steady

Posted on April 1, 2021 at 9:12 am GMT

Biden unveils $2.3 trillion in infrastructure spending, but much of it already priced in Stocks edge up after mixed day on Wall Street, Treasury yields hold steady Dollar maintains gains, euro weighed by French lockdown, aussie crumbles Gold gets quarter-end boost, oil eyes OPEC+ decision Biden announces tax-and-spend plans US President Joe Biden outlined his much-awaited plan on boosting infrastructure across America on Wednesday, unveiling a $2.25 trillion package that looks set to divide Congress. Biden’s ambitious policies include billions [..]

US Open Note – Stocks freeze, dollar flashes green and oil stabilizes

Posted on March 31, 2021 at 1:07 pm GMT

Risk-off tone ahead of US employment data and Biden’s stimulus speech Markets today appear withdrawn and seem to be conveying a sense of calm before the storm as investors anxiously await the US ADP employment results and the details of the next stimulus from President Joe Biden. The fairly muted risk appetite in stocks has benefited the greenback, providing it with some traction after it temporarily lost its dominance, plunging from today’s high of 93.44 as the European trading session [..]

Daily Market Comment – Biden unveils infrastructure plan, OPEC meets

Posted on March 31, 2021 at 8:40 am GMT

Markets brace for details of multi-trillion US infrastructure bill Dollar powers ahead, equities retreat, yen and gold battered OPEC meeting and flurry of economic data coming up as well All eyes on infrastructure and taxes The threat of higher taxes in America hasn’t spooked financial markets so far, but this serenity will be tested today at around 20:00 GMT, when President Biden unveils the details of his ambitious infrastructure plan. The latest reports suggest the package will cost a little [..]

US Open Note – Stocks pull back, dollar dominates, gold melts and oil falls

Posted on March 30, 2021 at 2:10 pm GMT

Stocks dip, dollar powers up, stimulus lifts yields The king dollar seems to be quite comfortable on the throne today as a risk-off tone is taking shape in markets. The dollar index soared today to 93.20, pulling with it the swissie to 0.9425 francs per dollar and the yen to 110.38 per dollar. The rise in Treasury yields due to anticipated new fiscal stimulus has hindered stocks and boosted the dollar. Further fuel to this dollar fire transpires from positive [..]

Daily Market Comment – Dollar marches higher, yen suffers as yields jump

Posted on March 30, 2021 at 8:33 am GMT

Dollar/yen continues to ascend as Treasury yields hit new cycle highs Stock markets resilient, close near records despite looming tax risk Oil edges higher as OPEC meeting approaches, gold struggles FX market remains a prisoner of bond yields The currency market continues to dance to the beat of rising long-term interest rates. The dollar is marching higher on Tuesday, with dollar/yen overcoming the psychological 110.0 region, mirroring a similar spike in US Treasury yields. The yen usually suffers when foreign [..]

Eurozone inflation to hit one-year high, unlikely to lift flagging euro – Forex News Preview

Posted on March 30, 2021 at 6:42 am GMT

Inflation in the euro area is expected to hit the highest in more than a year when the flash estimate for March is published on Wednesday (10:00 GMT). Fears of higher inflation have gripped bond markets lately, pushing yields higher and causing undue tightening of financial conditions for Eurozone economies. However, even though inflation may accelerate further in the coming months, the rise is expected to be temporary. Moreover, any revival in price pressures is at risk of being choked [..]

US Open Note – Oil recovers; US stocks and dollar ease

Posted on March 29, 2021 at 12:46 pm GMT

Oil rises after negative open The focus of the day is the modest recovery in oil, which is flirting with the $61/per barrel level, after the episode in the Suez Canal. There is no clarity yet of when traffic in the canal will restart. At least 450 ships are thought to be waiting or heading towards the waterway. Traders may next turn their attention on the OPEC+ meeting later this week when major producers are expected to keep output levels [..]

Daily Market Comment – Stocks grapple with liquidation fears, dollar strength persists

Posted on March 29, 2021 at 9:03 am GMT

Leveraged fund blows up, sending ripples across equity markets Yet, the real risk this week may be signals for US tax increases Calmer tones prevail in FX market, with dollar finding some love Forced liquidations keep stock markets on edge Global stock markets closed near record highs on Friday, but it was a stormy ride with lots of volatility. It turns out that a leveraged fund named Archegos Capital blew up, sparking a wave of forced selling as its positions [..]

Technical Analysis – EURUSD retains bearish tendency below 1.1800

Posted on March 29, 2021 at 7:54 am GMT

EURUSD sharpened its downside move after dropping out of the long-term ascending channel and the 1.1800 level. The RSI is still pointing down below the 50 level, however, the stochastic oscillator is signaling an oversold market as it is turning higher in the negative territory. Meanwhile, the 20-day simple moving average (SMA) has bearishly crossed the longer-term SMAs and is heading south, providing negative trend signals for the market. Additional downside movements could take the price until the nearby support of 1.1745, and then [..]

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