All Articles Tagged - EURUSD

Week Ahead – Data overload may spoil vaccine euphoria; NFP to lead the pack

Posted on November 27, 2020 at 1:14 pm GMT

It’s NFP week and as investors battle the vaccine optimism against the short-term gloom, the latest jobs report from the United States may determine which way sentiment sways next. Canada will also publish jobs numbers along with its Q3 GDP print. The Reserve Bank of Australia, meanwhile, will kick off the December round of central bank meetings. In Europe, flash inflation figures will be watched in anticipation of the ECB’s next move. But amidst the busy economic calendar, it’s Brexit [..]

Daily Market Comment – Dollar on the ropes, aussie unfazed by China tariffs

Posted on November 27, 2020 at 9:02 am GMT

Greenback hovers near lows, markets quiet overall What’s the outlook for euro/dollar from here? China slaps tariffs on Australian wine, but aussie immune Crunch time in Brexit talks as EU negotiators travel to London All quiet on the FX front It was a relatively subdued session in global markets yesterday with US traders being away on holiday. Most stock indices closed flat and currency pairs generally traded in narrow ranges, with no real headlines to steer the price action and [..]

Daily Market Comment – Dollar on the defensive, market rally pauses

Posted on November 26, 2020 at 9:13 am GMT

Stock markets pause for breath, currencies quiet too Dollar the only notable FX mover, extends recent losses Crude oil retreats from highs as OPEC meeting looms Sterling in the spotlight as Brexit headlines turn cautious Markets calmer on Thanksgiving The ecstatic mood that prevailed in global markets earlier this week seems to have faded for now, with stock markets being essentially flat since Tuesday and most currency pairs confined in narrow trading ranges. There is a sense that investors are [..]

Technical Analysis – EURUSD retreats after hitting 3-month high

Posted on November 26, 2020 at 9:10 am GMT

EURUSD has been in an upside tendency since November 4, recording a fresh three-month peak of 1.1940 earlier today. According to the technical indicators, the RSI is holding near the 70 level but is flattening, while the stochastic posted a bearish crossover within its %K and %D lines in the overbought territory. Should the pair strengthen its positive momentum, the next resistance could come around the 1.2010 barrier, registered on September 1. More advances could take the pair until the inside [..]

Daily Market Comment – Crude oil powers higher, markets euphoric

Posted on November 25, 2020 at 9:01 am GMT

US stocks close at new records, oil roars higher, gold melts down Markets in an ecstatic mood, without any major new drivers Avalanche of US data and Fed minutes in the spotlight today Vaccine enthusiasm continues to steer the ship The party in global markets continues. Investors have thrown caution to the wind and have gone all-out in their hunt for returns, with exuberance around the post-vaccine world and an abundance of liquidity thanks to the world’s central banks powering [..]

Daily Market Comment – Dollar comeback falters, gold gets burned

Posted on November 24, 2020 at 9:58 am GMT

US PMIs show economy firing up, dollar bounces but falls back Stocks power higher, yet the Fed remains a wild card Kiwi cheers potential changes to RBNZ mandate Gold burned by a stronger greenback and higher yields Strong PMIs send ripples across markets A perfect storm of encouraging news has engulfed global markets early this week, reawakening some animal spirits. The latest AstraZeneca vaccine isn’t as effective as its counterparts but is much cheaper and easier to store, the US [..]

Daily Market Comment – New batch of vaccine hopes and the Brexit endgame

Posted on November 23, 2020 at 9:31 am GMT

Fresh vaccine news boosts risky assets, but only barely Vaccines losing their mojo in lifting markets? Sterling cruises higher as speculation around a Brexit deal grows European PMIs not quite as dismal as feared Diminishing positive returns from vaccine news? The vaccine hype train keeps on rolling. AstraZeneca was the latest drug maker to announce its late-stage trial results and even though the efficacy rate was only 70% – much lower than that of Pfizer or Moderna – the news [..]

Technical Analysis – EURUSD consolidates around 1.1900; indicators are flat

Posted on November 23, 2020 at 7:53 am GMT

EURUSD has been trading within a consolidation area of 1.1611-1.1960 over the last four months, remaining above the Ichimoku cloud and the short-term simple moving averages (SMAs) the last five days. According to the technical indicators, the RSI is moving sideways in the positive area and the MACD is standing above its trigger and zero lines with weak momentum. Immediate resistance could come from the 1.1915 barrier, tested several times in the past. Driving the market higher, the 1.1960 hurdle [..]

Week Ahead – Vaccine euphoria vs lockdown reality

Posted on November 20, 2020 at 12:58 pm GMT

There is not much on the agenda next week, but that doesn’t mean things will be quiet as the battle between longer-term vaccine hopes and the present lockdown reality continues to rage. The highlight on the economic calendar will be the latest PMIs, especially from the Eurozone, which will reveal how much damage the latest lockdowns have inflicted. In America, the latest Fed minutes might be viewed as outdated, so it will be all about infection numbers as more states [..]

Daily Market Comment – Stimulus fears after Mnuchin cuts off Fed emergency lifeline

Posted on November 20, 2020 at 9:46 am GMT

Treasury Secretary asks Fed to return unused emergency funds, US futures slip But some relief as Senate Republicans agree to restart talks on new virus relief bill Fresh setback for Brexit talks after Barnier has to self-isolate as time running out Fed and White House clash over emergency programs The Federal Reserve’s powers for fighting the pandemic were severely curtailed on Thursday after Treasury Secretary Steven Mnuchin took the unusual step of not extending funding for many of the central [..]

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