All Articles Tagged - EURUSD

Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too

Posted on April 26, 2024 at 9:34 am GMT

Fed meets on Wednesday as US inflation stays elevated Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the euro Chinese PMIs and New Zealand employment to be watched too Will the Fed put rate cut hopes in more peril? The upcoming week looks sure to be an action-packed one for the US dollar, as besides an FOMC meeting and the April jobs report, there’s a flurry of [..]

Market Comment – Yen keeps sinking after Bank of Japan decision

Posted on April 26, 2024 at 8:50 am GMT

Yen falls to fresh multi-decade lows after BoJ rate decision US GDP flashes mixed signals, dollar retreats in aftermath Stocks recover on solid tech earnings, gold resumes uptrend Yen plummets – how close is FX intervention? The Japanese yen continues to melt down, hitting new multi-decade lows against the US dollar after the Bank of Japan refrained from providing any concrete signals on further rate increases and following some disappointing inflation data from Tokyo. Even though the BoJ revised its [..]

Fed faces dilemma amid sticky inflation and slowing economy – Preview

Posted on April 26, 2024 at 8:42 am GMT

Investors scale back Fed rate cut bets as inflation stays hot But economic growth slows more than expected in Q1 Will the Fed continue to signal patience? The Committee decides on Wednesday at 18:00 GMT Stubborn inflation weighs on rate cut bets When they last met, Fed officials left interest rates untouched as it was widely expected, and although they revised up their growth and inflation projections, they continued pointing to three quarter-point rate cuts by the end of the [..]

Euro turns to GDP and inflation data for a lifeline – Preview

Posted on April 25, 2024 at 1:50 pm GMT

Euro loses ground as European Central Bank signals rate cuts But only against US dollar – holds strong against pound and yen Eurozone GDP and inflation stats on Tuesday will decide what’s next Imminent rate cuts bruise euro It’s been a difficult year for the euro, which has already declined 3% against the dollar as the economic divergence between the Eurozone and the United States has convinced investors the ECB is set to cut interest rates faster and deeper than [..]

Technical Analysis – EURUSD creates bullish channel in near term

Posted on April 25, 2024 at 9:19 am GMT

EURUSD flirts with upper boundary MACD and RSI indicate more upside move EURUSD has been showing a buying interest lately in the 4-hour chart, with the price trying to surpass the upper boundary of the upward sloping channel. The 20- and the 50-period simple moving averages (SMAs) posted a bullish crossover and the technical oscillators are indicating an upside pressure. The RSI is moving north and is approaching the overbought territory, while the MACD is strengthening its positive momentum above [..]

Technical Analysis – EURUSD stays beneath 1.0700

Posted on April 24, 2024 at 12:26 pm GMT

EURUSD maintains sideways move in short-term RSI and MACD are mixed EURUSD is falling after the rally towards the 1.0700 round number, remaining within the neutral range of 1.0600 – 1.0720. The pair is still developing beneath the symmetrical triangle, creating a bearish tendency. However, the technical oscillators are showing some mixed signs. The RSI is ticking south beneath the neutral threshold of 50, while the MACD is trying to cross above its trigger line in the negative territory. If [..]

Market Comment – Stocks in the green, dollar stable as next batch of US data awaited

Posted on April 24, 2024 at 8:24 am GMT

Stocks feeling more positive following the US PMI miss Busy earnings calendar as focus remains on US data prints Dollar/yen remains a tad below 155 ahead of the BoJ meeting Aussie benefits from stronger CPI report Market wants more of the PMI surveys medicine The recent US data prints and particularly the mid-April inflation report has clearly alarmed the market of the possibility that the Fed could keep its rates unchanged in 2024. This is quite a shift considering that in January [..]

Slightly lower volatility across the board ahead of key US data – Volatility Watch

Posted on April 23, 2024 at 9:54 am GMT

Lower volatility is on the cards for the FX market Gold to enjoy lower volatility; oil probably too quiet considering geopolitics Equities volatility remains elevated, especially in JP225 index Volatility in EUR/USD has eased up a bit but remains high amidst continued rhetoric for an ECB rate cut in June. Geopolitical events have also played a crucial role in maintaining volatility high in the remaining currencies, including the yen and pound crosses, with the former facing a real risk of market intervention and the latter being affected by a [..]

Market Comment – Dollar pulls back, but yen hits new 34-year low

Posted on April 23, 2024 at 8:19 am GMT

Dollar loses ground against risk-linked currencies But yen continues to slide to new 34-year low Stocks rebound, gold falls on easing geopolitical concerns Key US data could further weigh on Fed rate cut bets The US dollar retreated somewhat against most of its major peers on Monday, losing the most ground against the risk-linked currencies kiwi, aussie and loonie, perhaps as the cooling Middle East tensions allowed investors to increase their risk exposures. Having said that though, the fundamental drivers [..]

Market Comment – Risk appetite returns as geopolitical fears calm

Posted on April 22, 2024 at 8:32 am GMT

Global markets in a better mood amid lack of Iran-Israel escalation Stocks recover after sharp selloff, oil and gold prices turn down Busy week ahead for economic data releases and tech earnings Relief rally Global markets started the new week on a positive note, as the absence of further escalation in the Israel-Iran crisis helped calm investor nerves. Riskier assets such as equities recovered some ground early on Monday while crude oil and gold prices declined, reflecting fading concerns about [..]

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