All Articles Tagged - EURUSD

Market Comment – Pound slides ahead of Bank of England decision

Posted on May 9, 2024 at 7:57 am GMT

BoE meeting in the spotlight today – likely to downplay June rate cut Yen languishes, trapped between FX intervention and low interest rates Dollar recovers, stocks and gold steady, waiting for US inflation update BoE – No rate cuts yet In a relatively quiet week, the spotlight today will fall on the Bank of England’s interest rate decision. Markets are pricing an almost 50-50 chance for a rate cut in June, so the question for traders is whether the Bank [..]

Market Comment – US dollar recovers, stocks’ rally stalls as market tries to find its footing

Posted on May 8, 2024 at 7:49 am GMT

Fed expectations drive the market; three Fed speakers on the wires today Dollar recovers but all eyes are on the US stocks and Treasury yields The pound prepares for the BoE meeting as elections gain more airtime Yen on the back foot again; gold steady amid the Israeli ground operation Dollar recovers, equity rally stalls The US dollar has almost erased its NFP losses against the euro as the US stock indices’ rally has stalled. Dovish expectations have taken centre [..]

Technical Analysis – EURUSD returns within a sideways range

Posted on May 7, 2024 at 1:00 pm GMT

EURUSD returns within range between 1.0725 and 1.0930 MACD and RSI detect a lack of directional momentum For the bears to recharge, a break below 1.0725 may be needed The outlook may turn bullish if the price breaks above 1.0930 EURUSD has been in a recovery mode since April 16 when it hit support near the 1.0610 area. Since then, the pair has been respecting an upside support line, which let it on Friday back within the sideways range that has [..]

Technical Analysis – EURUSD capped by 20-day SMA as rebound falters

Posted on May 2, 2024 at 9:58 am GMT

EURUSD fights to get a grip above $1.07 Bulls in fierce battle to overcome 20-day SMA But upside momentum starts to wane EURUSD staged a solid bounce back after almost breaching the 1.0600 level, which sits just above the 78.6% Fibonacci retracement of the October-December uptrend at 1.0595. However, securing the 1.0700 handle is proving more challenging as the 20-day simple moving average (SMA) is keeping a lid on the gains. A major battle has erupted around the 61.8% [..]

Will the post-FOMC jobs report move the dollar? – Preview

Posted on May 1, 2024 at 10:47 am GMT

US nonfarm payrolls scheduled for release on Friday 12:30 GMT Another solid report could question rate cuts if Powell provides no clear guidance EURUSD at risk of plunging towards April’s low of 1.0600 April’s nonfarm payrolls might cause volatility Friday will be a nonfarm payrolls day and investors expect the economy to have added 243k new job positions in April, keeping the unemployment rate steady at 3.8% and wage growth stable at 0.3% m/m. The report will be the [..]

Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed

Posted on May 1, 2024 at 8:05 am GMT

Fed meeting in the spotlight; equities under pressure Dollar strength continues, could intensify if Fed appears hawkish Questionable yen intervention result; more action over the next sessions? Bitcoin fights for $60k level; oil in retreat despite Middle East headlines May starts on a high note The Fed meeting concludes today with the decision announced at 18:00 GMT and the press conference taking place 30 minutes later. The market does not expect a rate change but there is an increasing possibility of a [..]

Besides yen pairs, neutral volatility across the board ahead of Fed and NFP – Volatility Watch

Posted on April 30, 2024 at 9:55 am GMT

Japan’s intervention spurs volatility in yen pairs, usual action elsewhere in FX market Commodities enjoy lower volatility as geopolitical tensions subside Equities at neutral volatility levels during earnings season, Bitcoin volatility picks up Volatility in yen crosses has exploded on the back of a suspected Japanese intervention. Moreover, apart from dollar/yen, other dollar pairs are trading in the middle of their volatility range ahead of the Fed decision on Wednesday and NFP report on Friday. Volatility in the commodity space has also dropped, particularly [..]

Market Comment – Dollar rebounds, yen off highs after suspected intervention

Posted on April 30, 2024 at 9:05 am GMT

Yen eases from highs as Japanese authorities stay mum on intervention Dollar creeps higher, euro softer as attention turns to Eurozone economy Stocks mixed ahead of more key earnings, gold extends losses Yen on edge as no word on intervention FX markets remained wary but were steadier on Tuesday following yesterday’s rollercoaster ride for the Japanese currency. After months of constant pushing and prodding by traders, Japanese authorities likely saw red when the yen crossed the 160 per dollar level. [..]

Weekly Technical Outlook – USDJPY, EURUSD, Oil

Posted on April 29, 2024 at 2:10 pm GMT

USDJPY maintains bullish pattern after suspected intervention EURUSD remains trapped below 20-SMA ahead of flash CPI WTI oil futures wait for the next bullish catalyst below key resistance FOMC policy meeting –> USDJPY The US calendar might send some important messages this week, particularly on Wednesday when the Fed announces its rate decision. Although changes in interest rates are not on the agenda this week, it would be interesting to see if the central bank will raise the possibility of a rate [..]

Technical Analysis – EURUSD attempts recovery from 5-month low

Posted on April 29, 2024 at 7:55 am GMT

EURUSD rebounds from a five-month bottom But oscillators suggest that the bears retain control EURUSD came under severe selling pressure in the aftermath of a hotter-than-expected inflation report on April 10, posting a fresh 2024 low of 1.0600. Although the pair has been regaining ground since then, the momentum indicators are still tilted to the downside. Should the rebound resume, the recent resistance of 1.0752 could prove to be the first barrier for the price to overcome. Conquering this barricade, the [..]

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