All Articles Tagged - EURUSD

Eurozone PMIs to tick higher but unlikely to set the euro alight – Forex News Preview

Posted on February 17, 2021 at 3:49 pm GMT

The preliminary PMIs for February will be watched out of the Eurozone on Friday (09:00 GMT) as much of Europe remains under tight lockdown. There was a slight relaxation of Covid rules in some countries in February, and this is expected to have led to a modest pickup in business activity. However, without a clear timeline of when the most stringent restrictions will be lifted in Europe’s biggest economies, the euro will likely stay stuck in a consolidation pattern against [..]

US Open Note – US Retail sales add to rising inflation bets; FOMC minutes next in the spotlight

Posted on February 17, 2021 at 2:08 pm GMT

Dollar bulls positively charged by rising yields Hopes for a robust recovery and expectations that inflation may pick up steam faster than markets believed continued to feed risk-on appetite during late European hours, keeping the 10-year Treasury yield near today’s peak of 1.33%. The strong upturn has yet to scare stock markets, though some weakness is evident today, with US futures pointing to a neutral open as European equities are preparing to close the day with moderate losses. Although demand [..]

Daily Market Comment – Rising US yields resuscitate dollar, scare equities

Posted on February 17, 2021 at 9:53 am GMT

Treasury yields jump again as stimulus draws closer, inflation bets continue to rise Dollar soars against yen, crashes gold; stocks ease back but no sign of panic Oil holds firm amid US disruptions, copper surges on growth optimism Yields rise across the board but only dollar shines The yields on long-term Treasury notes have been creeping higher again as investors continue to price in a mega stimulus package in the United States. But it’s not just expectations of record debt [..]

US Open Note – US stocks set to join risk-on party; dollar index hovers near 90.00 support

Posted on February 16, 2021 at 2:11 pm GMT

Wall street may open stronger US traders will return to their desks after a long weekend, with stocks aiming to extract their own share of gains from the latest risk-on euphoria as reflected by the modest upside in S&P 500 futures. Although the risk-taking tendency was softer during late European hours, it remained robust enough to keep the German DAX 30 and the UK’s FTSE 100 index close to their Monday peaks.Perhaps the absence of any discouraging vaccine news and slowing global infection cases enhanced speculation that governments will [..]

Daily Market Comment – Yen crumbles as vaccine optimism intensifies, stocks extend gains

Posted on February 16, 2021 at 10:00 am GMT

Safe-haven yen sold across the board as vaccine rollouts fuel hopes of a swift recovery Stocks continue to soar even as global yields creep higher, but dollar fights back Pound scales fresh highs as aggressive vaccination campaign shines light on UK assets Vaccines keep optimism running high The expansion in the global rollout of Covid-19 vaccines drove risk appetite to new heights on Tuesday as investors became more confident that inoculating against the deadly virus will lead the global economy [..]

US Open Note – Yen gets hammered; Boris looks to exit lockdown

Posted on February 15, 2021 at 2:26 pm GMT

It’s a risk-on day It’s a bright day for markets as upbeat Q4 GDP growth figures out of Japan coupled with falling global infection cases bolstered hopes that the economic recovery could gain steam in the year ahead. Following the strong bounce in Asian indices, which sent the Nikkei 225 up to 30,000 for the first time in three decades, European equities received a slice of interest too. The German DAX 30 was flirting with its recent record highs, while the Euro STOXX 600 was [..]

Technical Analysis – EURUSD rises above 1.21; still holds in upward channel

Posted on February 15, 2021 at 7:53 am GMT

EURUSD is travelling in the Ichimoku cloud, following the rebound off the 100-day simple moving average (SMA) in the previous week. The pair has been still moving within an upward sloping channel since June 2020. Technically, the RSI is moving horizontally marginally above the 50 level, while the stochastic is pointing up in the overbought zone, despite the bearish crossover within the %K and %D lines. The price is hovering between the 20- and 40-day simple moving averages (SMAs) and [..]

US Open Note – Dollar and stocks hold a bit firmer

Posted on February 12, 2021 at 2:32 pm GMT

Dollar ticks up ahead of preliminary Michigan consumer sentiment The US dollar hit a bottom at the beginning of the year, and it has since recovered quite strongly. However, sentiment appears to be shifting with the dollar pulling back this week and much of that has to do with the persistent strength of US equities. The dollar index is trying to recoup some of the previous days’ losses, rebounding off the 50-day simple moving average (SMA) around 90.40. Shares on Wall Street closed higher on [..]

Week Ahead – Dollar’s comeback bid wobbles ahead of Fed minutes, flash PMIs

Posted on February 12, 2021 at 1:42 pm GMT

There will be no shortage of data releases in the coming week, with Japanese GDP, Australian job numbers and European and US flash PMIs being some of the highlights. But markets may still struggle to find new direction as there’s nothing on the horizon that is likely to alter the existing narrative on stimulus and vaccine expectations. The minutes of the Federal Reserve’s January policy meeting are also not anticipated to rattle markets. Though, in the absence of any exciting [..]

Daily Market Comment – Stock markets refuse to retreat, FX arena quiet

Posted on February 12, 2021 at 9:49 am GMT

Equity markets stage a late comeback after Biden boosts semiconductors Euro/dollar caught between conflicting narratives, currencies quiet overall Most of Asia off for Lunar New Year week – thin liquidity implies risks Biden halts stock market retreat Equities were headed for a red session yesterday before news broke that the Biden administration will try to alleviate the shortage in chips, lighting a fire under semiconductor stocks that ultimately saw the whole market close higher. Soaring consumer demand for electronics during [..]

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