All Articles Tagged - EURUSD

US Open Note – Dollar fade continues; stocks hold around record highs

Posted on February 11, 2021 at 1:56 pm GMT

Dollar recoups losses; Biden-Xi Jinping have their first call With stocks holding around their record highs, the Biden Administration making progress on finalizing the stimulus deal and more Americans getting vaccinated, some Fed officials have been talking about earlier tapering. During yesterday’s speech, Chair Jerome Powell mentioned that employment remains far away from full recovery and asked lawmakers and the private sector to support workers. President Joe Biden had his first conversation with China’s President Xi Jinping late on Wednesday, according to a [..]

Is the global vaccination race the new force in FX markets? – Special Report

Posted on February 11, 2021 at 1:31 pm GMT

The global campaign to vaccinate people against Covid-19 began in earnest in December, marking a historic milestone in the fight to bring an end to the pandemic. However, as governments scramble to get their hands on a limited supply of Covid vaccines, the disparity in the immunization rate between different nations is not going unnoticed in the FX world. Countries that are pulling out all the stops to vaccinate their population are seeing comparative strength in their currencies, whilst those [..]

Technical Analysis – EURUSD opens key border, but has one more obstacle to clear

Posted on February 11, 2021 at 11:27 am GMT

EURUSD had a quick recovery from a one-month low of 1.1951 this week, crossing all its simple moving averages (SMA) in the four-hour chart to peak slightly above the key restrictive line from August. The surface of the Ichimoku cloud had been rejecting previous bullish attempts since the end of January, but the bulls managed to breach that bar recently, opening the door for further improvement. On the other hand, the negative charge in the RSI and the MACD warrants [..]

Daily Market Comment – Cautious Fed and tame inflation unable to lift markets

Posted on February 11, 2021 at 9:30 am GMT

Stocks virtually flat despite promises of endless Fed liquidity FX quiet too as traders search for the next big theme US jobless claims and Disney earnings top the agenda today Is the stimulus narrative losing its bang? It was a quiet session across global markets, with most equity indices closing virtually unchanged near record altitudes and the prominent currency pairs trading in narrow ranges. Sometimes though, the lack of action itself speaks volumes. Investors had their gaze locked on the [..]

US Open Note – Dollar moves south after soft CPI; euro rises above 1.21

Posted on February 10, 2021 at 2:34 pm GMT

Dollar eases after US CPI; US stocks still up The selling interest in the US dollar is continuing, with its index against a basket of currencies flirting with the fourth consecutive red day after the release of the US CPI data. The annual inflation rate remained unchanged at 1.4% for January, the same as in December and marginally below expectations of 1.5%. Month-on-month, consumer prices went up 0.3%, in line with forecasts from 0.2% before. Powell and other policymakers at the Fed have suggested that [..]

Daily Market Comment – US inflation and Powell speech could spice things up

Posted on February 10, 2021 at 9:23 am GMT

Dollar remains under pressure, stocks hover near records in a quiet session Markets still driving in risk-on gear as stimulus hopes grow stronger But US inflation data and Powell’s remarks could spark volatility today Risk-taking still the dominant force It was a quiet session in global markets, without any real news to drive the action. The same old stimulus stories continued to circulate, encouraging investors to take on more risk. The overarching theme lately is that the Democrats will push [..]

US Open Note – Dollar extends losses; pound near 3-year high

Posted on February 9, 2021 at 3:35 pm GMT

Dollar eases as reflation trade returns The dollar is tumbling over the last couple of sessions as the reflation trade strengthened. President Joe Biden will probably push his aid proposal forward without Republican support. Some comments from government suggest that the stimulus negotiations act as a cautionary tale. The Republican Congress did the same thing to push through President Trump’s tax cuts back in 2017. The relief package is likely to be closer to $2 trillion rather than $1 trillion. The dollar index is registering the third straight day of [..]

Daily Market Comment – Stimulus euphoria floods global markets

Posted on February 9, 2021 at 9:24 am GMT

Stock markets conquer new heights as usual themes remain in play Dollar continues to retreat, unable to draw power from rising yields UK turns into the G10 vaccine champion, Cable breaks higher Gold gets its feet under it as inflation whispers depress real rates The party that never stops The stock market has gone on an absolute rampage. All of the major US indices continued their incredible bullish run to reach new record heights on Monday, with stimulus hopes and [..]

US Open Note – Dollar back to gains despite calm day; euro steady

Posted on February 8, 2021 at 2:05 pm GMT

Dollar posts some gains; US stocks at record highs In a quiet day, the major theme is the inflation expectations in the US that continue to rise. Treasury Secretary Yellen is asking for a larger stimulus package to bring the economy back to full employment. The dollar seems ready to resume its recovery. The US dollar index is moving marginally up, while dollar/yen is approaching the 105.70 level again, hitting the 200-day simple moving average (SMA). In the stock market, an index tracking global bourses met [..]

Daily Market Comment – Nonfarm payrolls give dollar a black eye, but stocks roar

Posted on February 8, 2021 at 9:35 am GMT

Disappointing US jobs report knocks dollar down Yet, bad economic news is good news for stimulus and stocks Concerning vaccine headlines go unnoticed, inflation on the radar Softer labor market strengthens case for tremendous relief The US employment report fell short of expectations, feeding the narrative that the recovery in the world’s largest economy is starting to plateau. Nonfarm payrolls clocked in at 49k in January, almost in line with the forecast, but clearly some investors were expecting more as [..]

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