All Articles Tagged - EURUSD

US inflation eyed ahead of Biden’s stimulus proposal – Forex News Preview

Posted on January 12, 2021 at 11:44 am GMT

The main event for the dollar and equity markets this week will be the details of incoming President Biden’s stimulus proposal, which will be unveiled Thursday. Before that, the latest CPI data on Wednesday will tell us how inflationary pressures are evolving. This could prove crucial amid speculation around whether the Fed might begin tapering early next year. Overall, markets seem to be transitioning from a ‘reflation’ to a ‘growth’ narrative, and if this shift persists, the latest rebound in [..]

Daily Market Comment – Fed officials talk tapering

Posted on January 12, 2021 at 9:16 am GMT

Dollar buoyed by rising US yields as Fed discusses QE tapering Stock markets suffer a rare pullback, dragged lower by big tech Sterling gets its feet under it as BoE Governor plays down negative rates Parade of Fed speakers today – normalization remarks crucial US growth expectations reflected in rising yields Fed remarks about a potential scaling back of the QE program eclipsed everything else in a rather quiet session on Monday, pushing US Treasury yields higher and helping the [..]

Daily Market Comment – Dollar and equities roar as Biden promises fresh stimulus

Posted on January 11, 2021 at 9:52 am GMT

President-elect Biden pledges new relief package worth ‘trillions’ Stocks hit new records, dollar comes back to life, gold purged Is the market now trading the ‘growth narrative’ instead of ‘reflation’? Reflation or growth trade? It matters for USD Hopes that the Biden administration will unleash a federal spending spree came to fruition late last week, after the incoming US President pledged a new relief package in the ‘trillions of dollars’ to revitalize the American economy. The details of this plan [..]

Technical Analysis – EURUSD takes a hit but bullish structure endures

Posted on January 11, 2021 at 8:29 am GMT

EURUSD is sustaining a negative tone today after plotting two bearish daily candles off of a 32½-month peak of 1.2349. In spite of the convincing pullback, which is proposing a deeper retracement, the predominant simple moving averages (SMAs) are continuing to protect the positive picture. The Ichimoku lines with the clear dip in the red Tenkan-sen line are suggesting a slowing pace in positive price action, while the short-term indicators are portraying a surge in negative momentum. The MACD, some [..]

Week Ahead – The calm before the stimulus storm?

Posted on January 8, 2021 at 1:32 pm GMT

It looks like a quiet week for global markets, with no major central bank meetings and only a handful of key data releases. The highlight may be the US CPI data, which will tell us how inflationary pressures are evolving, but even that could pass unnoticed. Instead, the main driver for markets may be any signals around a new relief package once the Democrats take over the US government. If so, the ‘reflation trade’ could continue to dominate. Stimulus hopes [..]

Daily Market Comment – Biden floats new stimulus bill, US jobs report coming up

Posted on January 8, 2021 at 9:30 am GMT

Equity party continues to rage amid whispers of $3 trillion infrastructure bill Yen and gold suffer as global bond yields climb Dollar extends rebound ahead of nonfarm payrolls – an asymmetric event? Stock market freight train keeps on rolling Global markets remain in an ecstatic mood, with US equities powering to new record highs and defensive plays falling apart, as expectations for gargantuan stimulus packages in America continue to be baked in. The Democrats taking full control of Congress has [..]

Daily Market Comment – Stocks power higher as Democrats take Senate, despite chaos on Capitol Hill

Posted on January 7, 2021 at 9:51 am GMT

Equities hit new record highs as Democrats take full control of Congress But havoc on Capitol Hill keeps animal spirits in check Dollar kept alive by spike in real yields, gold not as fortunate Overall, Congress and Fed working together implies rosy outlook for riskier assets Markets rally as stimulus hopes overpower social unrest The Democratic party has officially taken full control of Congress after winning both Senate seats from Georgia, setting the stage for bigger spending packages to bolster [..]

Technical Analysis – EURUSD loses some ground after touching 33-month top

Posted on January 7, 2021 at 9:41 am GMT

EURUSD has been underperforming over the last couple of sessions, testing the 20-period simple moving average (SMA), in the 4-hour chart. The RSI indicator is falling and is approaching the 50 level, while the MACD is trying to slip beneath its trigger line, remaining above the zero level. Moreover, the Ichimoku lines are flattening, suggesting a possible downside correction. Immediate support could come from the 20- and 40-period SMAs currently at 1.2290 and 1.2270, respectively. Slightly below these lines, the [..]

Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]

Technical Analysis – EURUSD premieres uneventfully at the start of the year

Posted on January 5, 2021 at 8:36 am GMT

EURUSD avoided great shakes at the start of the new trading year on Monday, holding muted marginally below the fresh 32-month high of 1.2309 reached last week. Even though the RSI is currently pointing upwards, the indicator has already created a lower high within the bullish area, while the MACD is also following the same negative pattern below its red signal line, reducing the case of a meaningful upside correction in the price. Technically, however, for the bears to come [..]

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