All Articles Tagged - EURUSD

Technical Analysis – EURUSD consolidates under 50-day SMA; upside risks remain

Posted on October 5, 2020 at 7:52 am GMT

EURUSD is resting on the 1.1707 level, that being the 23.6% Fibonacci retracement of the up leg from 1.0726 to 1.2010, capped by the mid-Bollinger band. The simple moving averages (SMAs) command a bullish tone while the short-term oscillators convey mixed signals in directional momentum. The MACD and the RSI are transmitting a slight improvement in the pair with the MACD, in the negative region, pushing above its red trigger line and the RSI attempting to break above the 50 [..]

Week Ahead – Fed, ECB minutes to steer markets through brewing election and virus storm

Posted on October 2, 2020 at 10:02 am GMT

September turned out to be a rough month for equities but a good one for haven currencies as reality caught up with a runaway market. As we head into October, that heightened sense of caution looks set to prevail for a while longer amid intensifying anxiety about the US election and doubts about the sustainability of the global recovery. With not a lot on the economic agenda for the next seven days, jittery traders will be hoping that policymakers on [..]

Daily Market Comment – Markets tank as Trump tests positive for covid, nonfarm payrolls coming up

Posted on October 2, 2020 at 8:01 am GMT

Equities sink, dollar jumps as President Trump gets coronavirus How does this affect election dynamics? Is Biden bad for markets? Sterling trades like a pinball machine amid conflicting Brexit headlines US jobs report is the main event today, European inflation data too Trump throws markets into disarray Global markets are tanking on Friday after US President Trump confirmed he has tested positive for covid-19, injecting another dose of uncertainty into election dynamics. Wall Street futures were already flashing red because [..]

Technical Analysis – EURUSD’s climb hits a snag; 100-day SMA caps advances

Posted on October 1, 2020 at 9:50 am GMT

EURUSD is finding difficulty in breaking above the Ichimoku cloud’s ceiling that is joined by the 100-period simple moving average (SMA) around 1.1769. Recently restored positive sentiment from the 1.1611 level appears to be aided by the rising 20-period SMA and the positive tone of the Ichimoku lines. However, the short-term oscillators reflect mixed signals in direction. The MACD, in the positive area, is slightly above its red trigger line while the stochastic oscillator holds a positive bearing. Meanwhile, the [..]

Daily Market Comment – Stimulus package hopes propel stocks higher, sink dollar

Posted on October 1, 2020 at 8:41 am GMT

Stock markets erase early losses, close higher on hopes of a US fiscal deal Dollar sinks on concerns government deficit will blow up But euro falls even more as ECB teases Fed-style inflation approach Stimulus talks will continue to drive markets today, along with key data Wall Street stages epic comeback Global markets continue to dance to the tune of the US stimulus talks. Wall Street erased some early losses to close substantially higher on Wednesday as negotiators took another [..]

US election: The good, the bad, and the ugly for markets – Special Report

Posted on September 30, 2020 at 2:06 pm GMT

With almost one month to go until the presidential election, investors are increasingly focused on how the outcome will impact financial markets. The short answer is that there is no automatic rule for how the dollar and equity markets will react to a Trump or Biden win – it all depends on whether the victor will also have full control of Congress or not. This piece will examine how markets might respond to a Democratic sweep, a Republican one, a [..]

NFP jobs report: The last release before the US election – Forex News Preview

Posted on September 30, 2020 at 1:20 pm GMT

The US will welcome the final quarter of 2020 with the release of the famous Nonfarm payrolls report as markets get into election mode. The consensus is that the US labor market continued to head towards pre-Covid levels in early September, with the unemployment rate further easing and new job positions rising at a softer pace. While this could be considered normal, the numbers arrive at a crucial time and will be the last update before the US election, exposing the [..]

Daily Market Comment – US presidential debate rattles equity markets

Posted on September 30, 2020 at 8:07 am GMT

Stocks edge lower after debate as Trump keeps door open to contest result Otherwise, not much to move the needle in this race Focus now turns back to stimulus talks that will resume today Euro advances, but can it keep going if euro area stays in deflation? Presidential debate leaves markets wanting Uncertainty about the election outcome seems to have intensified after the first debate between Donald Trump and Joe Biden, which yielded no clear winner as both men landed [..]

Euro loses its shine as second wave grips Europe; can the rally be restored? – Special Report

Posted on September 29, 2020 at 2:30 pm GMT

It wasn’t so long ago when everything was looking up for the Eurozone economy and the single currency couldn’t put a step wrong. After being ravaged in the spring by soaring deaths from COVID-19 and an economically bruising lockdown, Europe had started to get its house in order by late May. Virus cases were coming down, businesses were allowed to reopen, and European leaders demonstrated a rare show of unity when they agreed on a historic virus relief fund. But [..]

Daily Market Comment – Dollar retreats as stocks roar higher, Trump faces Biden

Posted on September 29, 2020 at 8:33 am GMT

Democrats unveil new $2.2 trillion stimulus compromise Equities celebrate, dollar falls as traders dump defensive plays Sterling lifted by a combination of risk appetite and Brexit hopes First US presidential debate is the main event later today Markets laser-focused on new stimulus package Optimism that a stimulus deal can still be reached on this side of the US election has returned to global markets, after the Democrats watered down their demands a little further yesterday, sparking a relief rally in [..]

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