All Articles Tagged - EURUSD

Technical Analysis – EURUSD bulls aim to win dominance ahead of ECB

Posted on March 11, 2021 at 8:27 am GMT

EURUSD is sailing across the 1.1900 territory, signaling that the rebound off the 3-month low of 1.1834 is something more than temporary. The strong positive momentum in the RSI and the MACD and the progressing bullish cross between the red Tenkan-sen and Kijun-sen lines reflect growing buying appetite on the four-hour chart. However, with the fast Stochastics fluctuating well above their 80 overbought mark, some stabilization could still be possible, especially as the 1.1950 restrictive region is within breathing distance. Note [..]

US Open Note – Markets in peace after US CPI figures meet forecasts; Treasury bond auctions in focus

Posted on March 10, 2021 at 2:11 pm GMT

German DAX 30 hits fresh record high The European session was mostly quiet, with the pan STOXX 600 claiming a small measure of gains as bond yields in the region continued to sideline below this week’s highs along with US Treasury yields. Yet, despite the softer positive tone, the German DAX 30 index managed to pin a new record high slightly above the 14,500 mark on the back of healthcare and real estate shares, which soared by 2.19% and 1.20% [..]

Daily Market Comment – Receding yields drive markets into euphoria, BoC meets

Posted on March 10, 2021 at 9:24 am GMT

Bond yields cool down, setting off massive rebound in tech stocks Dollar retreats a touch ahead of US inflation data and key bond auction Bank of Canada meets as well – dovish signals could bruise the loonie Everyone is trading bonds these days Global markets continue to be driven almost entirely by moves in bond yields. The week started with Wall Street panicking about rising yields, but the hysteria soon faded and euphoria made a stunning comeback yesterday as yields [..]

Will the ECB fight rising yields? – Forex News Preview

Posted on March 9, 2021 at 2:37 pm GMT

The European Central Bank (ECB) will wrap up its policy meeting at 12:45 GMT Thursday. Some senior policymakers have been vocal about fighting the rise in bond yields, but it is probably too early for that. If the ECB takes no immediate action, the euro could gain on the decision, though the bigger picture is negative. ECB thinks this is a US problem Rising bond yields can be both a blessing and a curse. On the bright side, they signal [..]

US Open Note – Dollar, bond yields on the retreat; Nasdaq eyes strong rebound

Posted on March 9, 2021 at 2:05 pm GMT

Riskier assets gain on dollar weakness Tuesday brought some risk-on trading back on the surface as the cooling in US Treasury yields and the slowdown in the dollar allowed risk-sensitive currencies to heal. The dollar index could not reach the 200-day simple moving average (SMA) earlier in the day, peaking slightly lower at 92.50 before easing to 92.00. Despite the weakness in the Japanese yen, dollar/yen also pulled back to seek support near 108.80 after marking another higher high at [..]

Daily Market Comment – Dollar stands tall, equities struggle amid tech exodus

Posted on March 9, 2021 at 9:38 am GMT

Dollar and sterling reign supreme in rising yield environment Stock markets calm overall, but tech sector gets purged However, yields fall back on Tuesday, cooling dollar while lifting stocks and gold Epic rotation within markets continues While the overall stock market did not retreat much yesterday, that masks the seismic rotation happening under the hood, away from tech shares with bloated valuations and towards value and cyclical plays that might shine as the global economy re-opens. It is not every [..]

US Open Note – Dollar bulls outperform as Wall Street prepares for another bumpy day

Posted on March 8, 2021 at 2:18 pm GMT

US futures could face another red day; European stocks recover Upbeat data releases continued to feed expectations of inflamed prices, and therefore an earlier monetary tightening on Monday, despite central banks using verbal intervention last week to play down any adjustment in their ultra-loose accommodative policy for the next couple of years. The US 10-year Treasury yield pared earlier losses on Monday to rise as high as 1.6130%, signaling that the downside pressure on Wall Street may stay in play [..]

Daily Market Comment – Dollar shines after Senate approves relief bill, but stocks shaky

Posted on March 8, 2021 at 10:12 am GMT

Solid US jobs report and relief package approval propel dollar higher But stock markets still shaky as tech sector grapples with rising yields Overall, this looks like a healthy and mostly isolated correction Good news keeps on coming Global markets continue to dance to the tune of rising bond yields, as a swift vaccination campaign and the overload of federal spending that is arriving soon have seen investors bring forward the timeline of Fed rate increases. The US labor market [..]

Technical Analysis – EURUSD sinks below 1.1900 in ascending channel

Posted on March 8, 2021 at 8:01 am GMT

EURUSD is diving further below the 1.1900 psychological level, approaching the lower surface of the upward sloping channel. The selling interest started after the pullback off the 1.2240 resistance, taking the market well below the short-term simple moving averages (SMAs) and the 100-day SMA. The RSI is heading towards the 30 level with strong momentum, while the stochastic is hovering in the oversold territory. A successful fall beneath the ascending channel could take the price towards the 1.1745 support ahead of the [..]

US Open Note – Dollar pushes up after strong NFP report

Posted on March 5, 2021 at 2:03 pm GMT

NFP report drives dollar even higher It’s NFP day and markets just got an update on the speed and direction of the country’s labor-market recovery. The US economy added 379k jobs compared to market expectation of a 182k rise and 49k before, while the unemployment rate fell to 6.2% from 6.3% in the preceding month, amid easing business restrictions, falling coronavirus infection rates, a fast vaccine rollout and continued support from the government. Markets are still focusing on the imminent $1.9trln of stimulus package and an ultra-dovish Fed. The spike [..]

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