All Articles Tagged - EURUSD

Daily Market Comment – Wall Street rediscovers gravity ahead of US jobs report

Posted on September 4, 2020 at 8:06 am GMT

Stock markets tank as investors dump their tech darlings Yet, there is no sense of panic in the market, especially among currencies US jobs report today might decide if this correction still has some mileage in it Risk aversion makes a rare appearance After cruising higher without any significant corrections for three months now, the US equity market finally suffered a meaningful setback on Thursday. The S&P 500 lost 3.5% and the Nasdaq was down 5% as investors dumped tech [..]

Daily Market Comment – ECB fires another salvo at the euro

Posted on September 3, 2020 at 8:19 am GMT

Euro/dollar extends correction lower after ECB officials raise the FX alarm Wall Street goes on a rampage as US government hypes a vaccine breakthrough Today: ISM non-manufacturing PMI, jobless claims, and central bank speakers ECB: The dollar’s unlikely hero The world’s most traded currency pair continues to drift lower, after the European Central Bank fired another verbal barrage to shoot the high-flying euro down. The latest media reports suggest “several” ECB officials are concerned that if the euro continues to [..]

Technical Analysis – EURUSD plunges below 1.1800; holds in upward channel

Posted on September 3, 2020 at 7:10 am GMT

EURUSD has lost its positive momentum after the pullback on the two-and-a-half-year high of 1.2010 on September 1, and it has been trading in an upward sloping channel over the last month. In the short-term, the market could retain the selling interest as the RSI is holding well below its 50 neutral mark and the MACD has dropped below its zero and trigger lines. The bearish movement, though, could stay in place given that prices continue to fluctuate below the Ichimoku cloud and the short-term moving averages (SMAs) in the [..]

Nonfarm payrolls: An asymmetric event? – Forex News Preview

Posted on September 2, 2020 at 12:42 pm GMT

The US employment report for August will be released at 12:30 GMT Friday, and forecasts suggest the economy continued to recover jobs at a healthy clip. For markets though, this data set might present an asymmetric risk, with a negative surprise likely affecting the dollar and equities more than a positive one. In the bigger picture, this data is unlikely to change the ‘dollar-hating, stock-loving’ trend currently at play. Dollar falls from grace There is absolutely no love for the [..]

Daily Market Comment – Manufacturing data revive dollar, ECB wary of euro

Posted on September 2, 2020 at 8:14 am GMT

Encouraging ISM data bring dollar back to life, Wall Street sets new records Europe enters deflation, ECB chief economist throws first jab at the euro Today: ADP jobs report and lots of central bank speakers US manufacturing data give dollar the kiss of life A strong batch of US manufacturing numbers resurrected the dollar from the ranks of the dead and propelled Wall Street to another record high yesterday. The ISM manufacturing index jumped to its highest level in [..]

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 8:16 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sank to a fresh [..]

Daily Market Comment – Fed’s paradigm shift ripples through markets

Posted on August 31, 2020 at 8:39 am GMT

Dollar steadies after Powell’s torpedo, support regions hold on most charts Equities sail higher as investors look for a hedge against future inflation Coming up: speech by Fed Vice Chairman and RBA policy decision Dollar hit on all sides, but still standing The implications of the Fed’s latest paradigm shift continue to reverberate through global markets. Investors seem to have taken the signal that inflation will be allowed to ‘run hot’ as credible, judging by the spike higher in market-based [..]

Technical Analysis – EURUSD although paused, conveys robust upside risks

Posted on August 31, 2020 at 7:41 am GMT

EURUSD maintains a solid bullish mode, despite appearing stuck within the confines of 1.1695 and 1.1965. The Ichimoku lines are broadcasting a positive bearing regardless of the recent stalling in the red Tenkan-sen line. Likewise, the progressing simple moving averages (SMAs) command a resounding bullish bias. Additionally, the short-term oscillators suggest positive momentum is improving. The MACD, deep in the positive section, is below its red signal line but looks set to reclaim it, while the RSI is nearing the [..]

Week Ahead – US jobs report eyed for recovery progress; Calm and steady at the RBA

Posted on August 28, 2020 at 11:45 am GMT

As a possible fiscal cliff looms in the United States, the August nonfarm payrolls report will be a crucial test for the strength of the economic recovery, making it the highlight of a relatively busier week as summer draws to an end. Canadian employment figures are also on the agenda, while the latest PMIs out of China will be important for market sentiment. But it is the Australian dollar that could see the most crossfire out of the major currencies [..]

Daily Market Comment – Powell jolts dollar; yen spikes on Abe resignation

Posted on August 28, 2020 at 8:51 am GMT

Powell sets out Fed’s new approach to inflation and employment Dollar swings wildly as yields plunge and then rally on Fed policy shift Japan’s Abe quits unexpectedly; Tokyo stocks tumble, yen jumps Fed’s new plan stokes inflation expectations As expected, Fed Chair Jerome Powell unveiled on Thursday a big shakeup of how the Federal Reserve conducts monetary policy. The Fed adjusted its objectives for both inflation and employment, moving to a more flexible regime of targeting an average inflation rate [..]

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