All Articles Tagged - EURUSD

Daily Market Comment – Markets sink despite Fed tranquilizer

Posted on January 28, 2021 at 9:25 am GMT

Stocks suffer, dollar shines amid whispers of hedge fund slaughter Fed plays down tapering speculation, but unable to calm nerves Euro on the ropes as ECB rate cut speculation returns US GDP data coming up today amid peculiar earnings season Short squeeze epidemic forces hedge fund liquidations The sound you are listening to is the stock market cracking from within, as a few funds liquidate their books to cover losses on their short bets, which retail traders have pushed to [..]

Daily Market Comment – Fed meets, Powell to dispel tapering worries

Posted on January 27, 2021 at 9:15 am GMT

Fed decision the main event today, no policy changes on the menu Powell likely to push back on tapering speculation Dollar retreats amid market euphoria, ECB unable to sink euro Huge day for corporate earnings too: Apple, Facebook, and Tesla Can Powell be dovish enough? There is no scope for any policy changes from the Federal Reserve today. This is also one of the smaller meetings without updated economic forecasts, so any market reaction will come down to Chairman Powell’s [..]

Fed meets: a non-event or the start of a brewing dilemma? – Forex News Preview

Posted on January 26, 2021 at 1:07 pm GMT

The Federal Reserve will begin its first policy meeting of the year on Tuesday and will announce its decision on Wednesday at 19:00 GMT. No change is expected in the Fed’s monetary policy settings nor in its vast array of emergency programmes. The sweeping shakeup at the White House and the recently passed virus relief package by Congress likely bought the Fed a few months before policymakers need to start thinking about the next course of action. However, with so [..]

Daily Market Comment – US stimulus delays cool sentiment

Posted on January 26, 2021 at 9:33 am GMT

Delays in Biden’s relief timeline keep animal spirits in check Euro/dollar retests key support region as Eurozone troubles grow Gold in a holding pattern, waiting for the next catalyst Have retail traders ‘broken’ the market’s plumbing? Volatility is back It’s been a hectic start to the new week. US stock markets took a sharp dive on Monday for no apparent reason, but quickly recouped those losses and still managed to close at record highs. It seems that an army of [..]

Daily Market Comment – Global markets in a cheerful mood, but risks abound

Posted on January 25, 2021 at 9:45 am GMT

Wall Street set for new record highs as California lifts stay-at-home order Dollar stable as traders look to Fed meeting, sterling near recent peaks But geopolitics, virus mutations, and stimulus talks threaten a reality check Stocks sail higher as investors focus on the positives American equity markets continue to trade like a runaway train, setting the tone for most other assets. Expectations for a massive spending package from Congress are riding high, and with the Fed chief recently reaffirming that [..]

Technical Analysis – EURUSD faces big challenge around SMAs in ascending channel

Posted on January 25, 2021 at 8:02 am GMT

EURUSD rebounded on the 1.2050 support level on January 18, flirting now with the 20- and 40-day simple moving averages (SMAs). In the broader outlook, the price has been developing within an upward sloping channel since June 2020. Looking at the technical indicators, the stochastic is moving towards the overbought territory, suggesting a strong bullish action, however, the RSI is standing marginally above the 50 level. In case of an upward attempt above the SMAs, the pair would likely meet [..]

Week Ahead – Fed meeting, barrage of data, and tech earnings

Posted on January 22, 2021 at 12:22 pm GMT

With President Biden now in office, markets will be on alert for any remarks from US Senators about whether they’d support the massive stimulus bill he proposed. A tough negotiating battle could see the final proposal being watered down. The Federal Reserve will meet as well. No policy changes are on the menu, so Chairman Powell is likely to reaffirm that it’s too early to discuss tapering. There’s also a blitz of economic data, including fourth-quarter GDP from America and [..]

Daily Market Comment – Stocks retreat, dollar edges up as virus concerns creep in again

Posted on January 22, 2021 at 10:11 am GMT

Equity rally loses steam after strong weekly gains amid renewed virus jitters Talk of Biden tax increases also undermines risk appetite, lifting the dollar Poor data pull down pound and aussie but euro fares better after ECB stays put Virus outbreaks, recession fears cap risk rally The stimulus-led stock market rally faltered on Friday as investors paused for breath after sharp gains in a week when US President Joe Biden formally took office, reaffirming expectations of higher spending and borrowing [..]

Daily Market Comment – Wall Street at fresh record as Biden sworn in; euro up ahead of ECB

Posted on January 21, 2021 at 10:10 am GMT

Hopes of more stimulus and relief over Biden’s peaceful transition lift sentiment US stocks close at new record highs as strong earnings add extra fuel Dollar skids again, euro bounces off lows ahead of ECB decision Optimism high as Biden enters White House After four tumultuous years, Trump’s presidency came to a historic end on Wednesday, as Joe Biden marked his first day at the White House by spreading a message of hope and unity to a fractious nation. While [..]

Technical Analysis – EURUSD consolidates after correction below 200-MA

Posted on January 21, 2021 at 9:01 am GMT

EURUSD’s recent bounce within a key support region, after a deep retraction below the 200-period simple moving average (SMA), seems to be curbed by the 50-period SMA. Promoting a paused bearish plunge is the falling 50-period SMA and the slight upturn in the 20-period SMA. Furthermore, the gliding 100-period SMA and the slowing upward pace of the 200-period SMA are suggesting further weakening in the positive structure. Taking a glimpse at the short-term oscillators, it is apparent that positive momentum [..]

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