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EURUSD

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Daily Market Comment – Dollar treads water as all eyes on Powell

Posted on August 27, 2020 at 8:37 am GMT

Markets steady as Powell’s highly anticipated Jackson Hole speech awaited Dollar braces for major dovish tilt by the Fed Aussie and kiwi lead the gainers; loonie seeks further oil boost How dovish can the Fed get? Fed chief Jerome Powell will take centre stage when he updates investors on the Fed’s policy framework review at the annual Jackson Hole conference of central bankers, which has gone virtual this year due to the ongoing pandemic. Powell will deliver his hotly anticipated [..]

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Technical Analysis – EURUSD is capped by SMAs and fails to improve positive picture

Posted on August 27, 2020 at 8:31 am GMT

EURUSD attempted to break the upper border of the neutral zone it has been ranging within the last week, but its efforts proved unsuccessful as the 40-period simple moving average (SMA) defended the bears once again around 1.1850. The short-term oscillators are suggesting mixed signals as the RSI is hitting the 50 level, though, the MACD is gaining ground and is approaching the zero level. Hence, the short-run risk is looking neutral-to-positive now and another retest of the 1.1850 – [..]

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Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]

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Daily Market Comment – Virus ‘breakthrough’ lifts stocks; dollar awaits Powell speech

Posted on August 24, 2020 at 9:00 am GMT

Markets start week on positive note amid progress on Covid-19 treatment and vaccine Dollar holds firm as investors gear up for Powell’s big Jackson Hole speech Euro and pound left reeling after data shock and Brexit blow Virus optimism leads equities higher Markets have started the week on a cheery note as news that President Trump has authorized the emergency use of plasma treatment for Covid-19 patents and is considering fast tracking a UK vaccine before the election boosted sentiment. [..]

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Technical Analysis – EURUSD retains positive tone but negative signals apply strain

Posted on August 24, 2020 at 7:00 am GMT

EURUSD maintains a bullish tone despite the pullback from the fresh 27-month peak of 1.1965. The Ichimoku lines sustain a bullish momentum some distance above the Ichimoku cloud, while the advancing simple moving averages (SMAs) dictate a predominant positive bearing. That said, the short-term oscillators reflect a negative picture however and momentum seems to be shifting. The MACD has weakened below its red trigger line but remains far in the positive region, while the RSI is picking up after slipping [..]

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Week Ahead – Markets to stay choppy ahead of virtual Jackson Hole symposium

Posted on August 21, 2020 at 12:49 pm GMT

The Federal Reserve will be front and centre next week as traders will be hoping policymakers will provide clearer signals on future monetary stimulus than they did in the FOMC minutes when they hold a virtual gathering of their annual economic symposium. Data out of the United States will constitute the predominant data releases, and coupling that with the Fed event, there can be little doubt the US dollar will be the primary driver of the FX market in an [..]

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Daily Market Comment – Dollar gets a second wind after bleak Eurozone PMIs

Posted on August 21, 2020 at 8:15 am GMT

Vaccine news from Pfizer boost sentiment, more records for Nasdaq Dollar can’t find much love amid risk-taking mood But how long can the market ignore Europe’s second wave? Perhaps not long, as the Eurozone’s PMIs provide a reality check Dollar feels the ‘risk on’ blues There’s no love for the US dollar out there. The reserve currency remained on the back foot on Thursday, surrendering some of the gains it posted after the FOMC minutes played down the prospect of [..]

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Technical Analysis – EURUSD loses momentum beneath 27-month high

Posted on August 20, 2020 at 1:00 pm GMT

EURUSD is on course for a bearish correction after the spike on the 27-month peak of 1.1965 on Tuesday. The sell-off, especially on Wednesday, has drove the price near the 40-period simple moving average (SMA) in the 4-hour chart. The momentum indicators are supportive of the bearish picture, with the RSI remaning inside negative territory, the MACD losing ground towards the zero line. Immediate support is being provided by the Ichimoku cloud around 1.1811 ahead of the 23.6% Fibonacci retracement [..]

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Daily Market Comment – FOMC minutes resurrect dollar, torpedo stocks

Posted on August 20, 2020 at 8:10 am GMT

Fed backs off from yield curve control, not in a hurry to strengthen guidance Dollar comes back to life, stocks retreat from record highs, gold sinks Swiss franc crashes for no apparent reason – SNB working overtime? Today: ECB minutes and US jobless claims Dollar back in the ring to take another swing The Federal Reserve injected a dose of volatility into financial markets on Wednesday, after the minutes of the latest policy meeting revealed that policymakers are not in [..]

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Eurozone PMIs may point to slowing recovery; will the soaring euro care? – Forex News Preview

Posted on August 19, 2020 at 2:38 pm GMT

The flash PMI readings for August will be the sole economic highlight for the euro area this week as investors try to get a better sense of where Europe’s recovery is headed amid a spike in coronavirus cases over the summer. The data, due at 08:00 GMT on Friday, might point to the recovery losing some steam in the past couple of weeks as businesses face challenging trading conditions. However, unless the PMIs widely undershoot expectations, the euro will likely [..]

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