All Articles Tagged - EURUSD

Eurozone PMIs may nudge higher but unlikely to ease euro’s vaccine pain – Forex News Preview

Posted on March 22, 2021 at 12:11 pm GMT

As Europe’s vaccine drama unfolds, the flash March PMI prints for the euro area may generate some positive headlines for the region’s struggling economy on Wednesday (09:00 GMT). The easing of certain lockdown restrictions in some countries probably led to an improvement in Eurozone services and overall activity in March. Though, with several countries tightening their virus curbs lately, the outlook remains murky, hence, investors are focusing their attention on the European Union’s vaccine progress, which is seen as the [..]

Daily Market Comment – Lira crashes after Erdogan sacks CB chief; yen climbs, stocks struggle

Posted on March 22, 2021 at 9:41 am GMT

Turkish lira plummets by 13% after Turkey’s president fires hawkish central bank head Surprise move causes jitters in financial markets, boosts safe havens like yen and dollar Aussie leads the losers, euro and pound slip too amid growing UK-EU vaccine row Lira plunges to 4-month low amid fresh crisis Turkish President Recep Tayyip Erdogan responded to last week’s bigger-than-expected rate hike by the country’s central bank by ousting its governor, Naci Agbal, in a shock move late on Friday. The [..]

Technical Analysis – EURUSD looks into 200-SMA to survive outlook deterioration

Posted on March 22, 2021 at 9:05 am GMT

EURUSD was struggling to cross above the 1.1900 level earlier on Monday, having opened the day with a bearish gap, which pressed the price as low as 1.1868. The technical indicators are painting a neutral-to-bearish picture for the short term as the RSI continues its sideways move below its 50 neutral mark and the MACD remains trendless within the negative area and around its red signal line. Other discouraging signs come from the downward sloping 20- and 50-day simple moving [..]

US Open Note – Dollar steady, US futures struggle and euro slips

Posted on March 19, 2021 at 1:29 pm GMT

Dollar in horizontal mode; euro below 1.19 A quiet day is on the cards, as reflected in forex and stock markets, with the US dollar moving slightly lower versus the Japanese yen below 109.00, while the dollar index is hovering above the 50- and 100-day simple moving averages (SMAs). Euro/dollar has slipped below the 1.1900 handle and is trying to break to the downside the nine-month ascending channel. Pound/dollar is moving with weak momentum while euro/pound is climbing above the [..]

Week Ahead – European PMIs to chart the euro’s course

Posted on March 19, 2021 at 12:51 pm GMT

It seems like a relatively calm week for global markets. The sole central bank meeting will be that of the Swiss National Bank, which will likely be thrilled about the recent demolition of the franc. There is also an overload of economic data on the agenda, the most important of which will be the PMI surveys out of the Eurozone. Fed stays cautious, but traders don’t buy it The FOMC meeting was a rollercoaster ride for markets. The Fed went [..]

Daily Market Comment – Nasdaq sinks as US yields spike, oil tumbles on demand worries

Posted on March 19, 2021 at 10:15 am GMT

Markets rattled by post-Fed jump in Treasury yields, though bond markets steadier today Dollar eases from highs, yen firms slightly on Bank of Japan’s policy tweaks Oil slumps to one-month lows on demand fears amid fresh European lockdowns Bond selloff gathers pace after Fed’s ‘green light’ Bond markets were left reeling on Friday following the selloff on Thursday in the aftermath of the Federal Reserve’s ‘lower for longer’ commitment. The yields on 10- and 30-year Treasury notes skyrocketed to fresh [..]

Technical Analysis – EURUSD plunges after cap around 1.2000; bearish pressures grow

Posted on March 18, 2021 at 2:50 pm GMT

EURUSD has nosedived below the Ichimoku cloud’s lower band at 1.1932 and is flirting now with the 50-period simple moving average (SMA) around 1.1921. The 100-period SMA, which recently curbed positive price action around 1.1990, is falling with the 200-period SMA and is together endorsing the negative picture in the pair. However, the unclear signals in directional momentum transmitted from the Ichimoku lines and the diminished downward slope of the 50-period SMA are nurturing a somewhat more sideways market. The [..]

US Open Note – US futures slip, dollar edges up and pound eases after BoE decision

Posted on March 18, 2021 at 1:32 pm GMT

Dollar points up again; Pound eases after BoE decision Thursday brought some mild risk-on trading back on the surface after the release of the Bank of England (BoE) decision, which comes hot on the heels of the Fed’s dovish statement yesterday. The US dollar moved broadly higher as the euro/dollar fell to around 1.1925, below the 200-day SMA, while cable is declining slightly after the dovish Bank of England (BoE) decision to hold interest rates at a record low of 0.1%. Policymakers mentioned that UK GDP is anticipated recover during 2021 to achieve reach pre-coronavirus levels, [..]

Daily Market Comment – Dovish Fed lifts Wall Street, but can’t keep yields down

Posted on March 18, 2021 at 10:00 am GMT

Fed maintains dovish rate path despite upping growth and inflation forecasts Dow Jones and S&P 500 hit new records; Nasdaq rises too before futures slip Dollar falls but then rebounds as 10-year Treasury yields resume climb BoE decision up next, pound steady; yen see-saws on BoJ rumours Fed reiterates rate outlook, not worried about yields The Federal Reserve bumped up its growth and inflation projections in its latest meeting on Wednesday even as the majority of policymakers predicted that rates [..]

US Open Note – Stocks soften, dollar flashes green, FOMC draws focus

Posted on March 17, 2021 at 2:04 pm GMT

FOMC jitters, dollar steps up, CAD inflation There seems to be a calm before the storm in markets today, with momentum somewhat having dried up in a climate of economic optimism. The FOMC nerves seem to have benched market players, despite expectations for the Fed to stick to its current course of action, now that accelerated jabs are reaching peoples arms and stimulus relief and government spending will soon start to show face in the economy. The main narrative seems [..]

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