All Articles Tagged - EURUSD

Eurozone consumer confidence set for another dip in November – Forex News Preview

Posted on November 19, 2020 at 3:37 pm GMT

The Eurozone will release a flash estimate of its consumer confidence index for the month of November on Friday at 15:00 GMT, likely revealing an extension of October’s decline. The data, however, will not be a big surprise to the euro, but will add more evidence to the existing narrative that the fresh partial lockdown will inevitably pull the bloc back into negative growth in the fourth quarter. Consumer confidence to slip to a six-month low Getting the virus under control needs [..]

Daily Market Comment – Virus surge overshadows vaccine progress, dollar ticks up

Posted on November 19, 2020 at 10:00 am GMT

Wall Street wobbles as restrictions tighten across the United States Dollar firms across the board amid growing fears of a winter health crisis EU budget row, Brexit angst sap euro and pound Markets subdued as virus surge shows no sign of easing Vaccine optimism struggled to sustain the positive risk sentiment as investors found it hard to ignore the ever-worrying headlines about exploding infection and hospitalization rates in Europe and America. The death toll in the United States from COVID-19 [..]

Technical Analysis – EURUSD touches ascending line; positive in short-term

Posted on November 19, 2020 at 8:19 am GMT

EURUSD has been in an upside movement, despite the lower low at 1.1893 in the previous days from the two-and-a-half-month peak of 1.1920. The price went back to 1.1830 as buyers failed to really challenge the 1.1900 number this week, testing the ascending line, which stands near the 40-period simple moving average (SMA) and the 1.1830 support level. According to the technical indicators, the RSI is holding near the neutral threshold of 50 and is moving sideways, however, the stochastic posted a bullish crossover within [..]

Daily Market Comment – Growth worries dent vaccine optimism but can’t stem dollar slide

Posted on November 18, 2020 at 9:49 am GMT

Stocks mostly negative after disappointing US retail sales underline near-term risks Surge in US virus cases and fresh outbreaks in Japan, Australia unnerve markets Cautious tone unable to lift dollar as slump in Treasury yields weighs Kiwi outperforms again, pound is close behind amid hopes of a Brexit breakthrough Renewed growth jitters put brakes on vaccine rally The vaccine euphoria suffered a knockback after stalling retail sales numbers out of the United States yesterday highlighted the short-term challenges policymakers still [..]

Daily Market Comment – Vaccine rally eases but optimism prevails

Posted on November 17, 2020 at 9:47 am GMT

Vaccine hopes keep risk assets supported even as more US states clamp down Dow closes in on 30,000 as growth-to-value rotation accelerates Dollar steadier, euro shrugs off EU budget crisis, pound holds out for Brexit deal Oil moderates ahead of OPEC+ meeting as bleak short-term outlook curbs advances Moderna adds to vaccine euphoria The fight against the pandemic took another major step forward on Monday after Moderna became the latest pharmaceutical company to announce a vaccine for COVID-19. Moderna’s vaccine, [..]

US retail sales in sight as Fed prepares for action – Forex News Preview

Posted on November 16, 2020 at 4:07 pm GMT

America’s latest retail sales data will hit the markets at 13:30 GMT Tuesday, and investors will look for clues on whether the Fed will pull the easing trigger again in December. With US infections spiraling out of control lately, Congress locked in a stalemate over more fiscal relief, and longer-dated US bond yields rising after the vaccine news, the Fed may frankly have no choice. As for the dollar, all this may imply some pain, but the upside in euro/dollar [..]

Daily Market Comment – Vaccine optimism, upbeat data push stocks to new highs, dollar retreats

Posted on November 16, 2020 at 9:51 am GMT

Week gets off to positive start as vaccine, strong recovery and Biden victory drive optimism Global stocks surge as S&P 500 sets fresh record high, dollar extends slide Pound holds steady as Brexit talks enter critical phase Markets buoyed by vaccine progress and upbeat Asian data Rapid progress in the race for a COVID-19 vaccine more than offset the deepening gloom of the present virus reality as the latest wave shows no sign of waning. Expectations that last week’s breakthrough [..]

Technical Analysis – EURUSD navigates north; range maintains stronghold

Posted on November 16, 2020 at 8:58 am GMT

EURUSD is piloting higher within a nine-week sideways market after having found some traction off the 50-day simple moving average (SMA). Despite the flattening 50-day SMA, which is endorsing the consolidating picture, the SMAs are sustaining their bullish demeanour, promoting more improvements in the pair. The short-term oscillators also transmit an increase in positive sentiment. The MACD is growing above its red trigger and zero lines, while the RSI is climbing in bullish territory. Furthermore, the stochastic oscillator encourages positive [..]

Daily Market Comment – White House steps back from stimulus negotiations

Posted on November 13, 2020 at 9:31 am GMT

Markets quiet on Friday as latest bout of risk aversion fades Equities set to end week barely higher, yen and gold much lower Investors grappling with vaccine hopes vs rising infections White House reportedly stepping back from fiscal talks It’s a battle of narratives Global markets appear trapped between conflicting drivers, with rampant optimism for a vaccine painting a brighter picture for next year but surging infections and fading prospects of powerful fiscal stimulus keeping the animal spirits in check. [..]

Daily Market Comment – Vaccine euphoria runs out of steam, Fed chief speaks

Posted on November 12, 2020 at 9:36 am GMT

Markets in a cautious mood as lockdown reality eclipses vaccine hype Stocks pull back, dollar climbs, but moves rather small in size Main event today: Discussion panel featuring Fed, ECB, and BoE chiefs ECB sticking to its guns about more stimulus, will Fed follow suit? Back to reality for markets A sense of caution has crept back into global markets on Thursday as investors grapple with the short-term covid reality on the ground, which has reined in the enthusiasm around [..]

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