All Articles Tagged - EURUSD

Daily Market Comment – Wall Street eclipses all-time high, dollar gets a black eye

Posted on August 19, 2020 at 8:24 am GMT

S&P 500 closes at a new record, powered by slowing US cases and stimulus signals Dollar gets hammered, hits fresh two-year lows Sterling capitalizes most on the dollar’s troubles Today: FOMC minutes and Canadian inflation numbers Mission accomplished: Wall Street at new records There’s no stopping the US equity freight train. The S&P 500 erased all its losses since the pandemic rocked global markets to capture new records, pulling off its quickest ever return to new highs after entering a [..]

FOMC minutes: Setting the stage for September – Forex News Preview

Posted on August 18, 2020 at 12:50 pm GMT

The minutes of the latest Fed meeting will hit the markets at 18:00 GMT Wednesday. Investors will look for any hints as to the Fed’s next move, which will probably be to strengthen the forward guidance. Clear signals that this might be announced in September could weigh on the dollar and boost stocks, albeit not much, as this is the consensus view. Overall, the dollar’s path will be decided mostly by what Congress does and how the virus picture evolves. [..]

Euro rally stalls: just a pause or is a major correction in sight? – Special Report

Posted on August 18, 2020 at 10:54 am GMT

After getting whipsawed and then clobbered at the height of the virus fallout in March, the euro is fast becoming one of the strongest performing currencies of 2020. Europe’s better handling of the coronavirus outbreak – at least when compared to America – and a big rescue package that is substantially made up of grants, have helped turn the euro’s fortunes around. But as the incredible rally pauses for breath, are investors having second thoughts about the Eurozone outlook amid [..]

Daily Market Comment – Greenback and equities at critical crossroads

Posted on August 18, 2020 at 8:13 am GMT

Dollar extends slide, now testing crucial support levels Nasdaq hits another record, but S&P 500 can’t overcome its own peak Yen and gold recover as global yields fall back down Dollar feels the heat of stronger risk appetite No news is bad news for the world’s reserve currency lately, which continues to surrender ground even without any noteworthy developments, pressured by the ‘risk on’ atmosphere in the markets. Unless investors are in a truly defensive mood, the greenback is struggling [..]

Daily Market Comment – Stocks pause at record highs, dollar struggles

Posted on August 17, 2020 at 8:22 am GMT

Dollar extends losing streak, yet most FX pairs stuck in narrow ranges Will the reversing trend in European/American infections affect euro/dollar? US stocks near record highs amid global liquidity tsunami Overall, things are calm as investors wait for the next catalyst – Congress? All quiet on the FX front, except the dollar The currency market seems to have entered a summer lull, as aside from a modest tumble in the US dollar, there isn’t much else going on in the [..]

Technical Analysis – EURUSD gaining ground, bullish backing improves

Posted on August 17, 2020 at 7:58 am GMT

EURUSD has regained positive momentum, bouncing near the 1.1695 low where the price solidified the start of the recent progress that is heading towards the 26½-month high of 1.1915. Further aiding this move is the slight advancement of the already bullish Ichimoku lines and the recovery in the short-term oscillators. The MACD, although below its red trigger line deep in the positive region, looks to reclaim it, while the RSI is attempting to penetrate above the 70 mark. Moreover, the [..]

Week Ahead – Vaccine hopes torment yen, all eyes on Congress

Posted on August 14, 2020 at 11:47 am GMT

It’s a relatively quiet week, with the main highlights being the Eurozone’s PMIs and the latest FOMC minutes. In the political arena, American and Chinese negotiators will meet over the weekend to review the ‘phase one’ trade deal. For markets though, the most crucial drivers will be whether US lawmakers can break the deadlock in the stimulus negotiations, and whether enthusiasm around a vaccine will keep pushing global yields higher, crushing the yen. Will markets have to scream first, before [..]

Daily Market Comment – Dollar firms, stocks muted amid stalled stimulus talks, soft China data

Posted on August 14, 2020 at 9:00 am GMT

Hopes fade for a quick stimulus deal in the US as Congress leaves town Weaker-than-expected Chinese data adds to recovery worries Dollar pulled from lows as subdued tone weighs on stocks Stalemate on Capitol Hill A deal on a new coronavirus relief package looked increasingly out of reach as US Senators left Washington for the summer recess, pushing the likely timing of an agreement to September when both houses return. A last-ditch attempt on Wednesday to resume talks went nowhere [..]

Technical Analysis – EURUSD uptrend edges sideways; upside risks remain

Posted on August 13, 2020 at 10:23 am GMT

EURUSD appears to have consolidated its advancements between 1.1695 and 1.1915, despite existing positive signals. In the meantime, the price is engaging the Ichimoku clouds upper band at 1.1842, while the 50-period simple moving average (SMA), the cloud and Ichimoku lines, sponsor a horizontal bias. Nonetheless, the short-term oscillators and the bullish tone of the 50- and 100-period SMAs, promote further improvements. The strengthening MACD has risen above its red signal line and the zero mark, while the RSI is [..]

Daily Market Comment – Dollar slips as no stimulus deal in sight yet; Gold pares losses

Posted on August 13, 2020 at 8:34 am GMT

US Treasury yields fall back as Washington no closer to reaching stimulus deal Dollar retreats, helping gold recover some losses; stocks subdued US data, China trade talks on markets’ radar for the next few days Talks on virus relief bill stumble again The Trump administration and Democrats appear no closer to finding a compromise deal on a new virus relief package as the latest efforts to kick start the negotiations prove fruitless. Talks between the two sides have been at [..]

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