All Articles Tagged - EURUSD

Euro to shrug off grim GDP data as outlook brightens on recovery plan – Forex News Preview

Posted on July 29, 2020 at 10:55 am GMT

GDP data out of the Eurozone on Thursday and Friday are expected to show the continent is facing its worst economic crisis since the second world war. Yet, the euro is looking the most bullish against the US dollar in a very long time. A strong stimulus response, combined with relative success in bringing the COVID-19 outbreak under control, has raised confidence in Europe’s ability to not only fight the crisis but to come out of it stronger. Hence, worse-than-expected [..]

Daily Market Comment – Tough stimulus talks weigh on markets; dovish Fed might help

Posted on July 29, 2020 at 8:32 am GMT

Dollar finds support from stalled stimulus talks amid splits in Congress Stocks struggle on poor earnings, stimulus delay; gold pauses rally Fed might bring some cheer if it reinforces dovish message Fiscal cliff worries mount as talks drag on Fears that the United States could be headed for a fiscal cliff undermined investor sentiment on Wednesday as Congress was no closer to reaching a deal on a new virus relief bill. An agreement before the month-end deadline is looking increasingly [..]

Daily Market Comment – Dollar selloff eases; gold pulls back after setting fresh record

Posted on July 28, 2020 at 8:52 am GMT

Dollar crawls higher as Republicans finally unveil new stimulus proposal Gold touches $1,980/oz before pulling back, eyes dovish Fed Wall Street turns positive ahead of key earnings, likes weaker dollar Dollar attempts to end losing streak There was some respite for the US dollar on Tuesday as the heavy selling that has sunk the currency to more than two-year lows eased a little. The dollar index fell for the seventh straight session on Monday as signs of a faltering recovery [..]

Fed meeting: A more cautious message – Forex News Preview

Posted on July 27, 2020 at 11:55 am GMT

The Federal Reserve will wrap up its latest meeting at 18:00 GMT Wednesday. No change in policy is expected, so the focus will be on Chairman Powell’s press conference at 18:30 GMT. With signs that the US recovery has flattened lately, Powell could adopt a more cautious tone, opening the door for more action in September. If so, that might be enough to accelerate the dollar’s freefall, though Thursday’s GDP numbers could provide some support. Under pressure The US [..]

Daily Market Comment – Gold reaches for the sky, euro soars too as dollar sags

Posted on July 27, 2020 at 8:51 am GMT

Uncertainty about US outlook pushes dollar to 22-month low, lifting gold and euro Precious metal hits all-time high as Sino-US tensions boost haven demand Stocks steadier after selloff; earnings and FOMC meeting in focus US virus cases could be slowing but dollar still rattled The US dollar plumbed fresh lows on Monday, slumping to the lowest in nearly two years against a basket of currencies, as investors shunned the world’s number one reserve currency in favour of the traditional safety [..]

Technical Analysis – EURUSD touches fresh 22-month high above 1.1700

Posted on July 27, 2020 at 6:06 am GMT

EURUSD has been creating one of the strongest bullish rollercoasters of the last couple months, recording a new 22-month high above the 1.1700 handle at 1.1723. According to the technical indicators, the MACD is strengthening its upside tendency well above its trigger and zero lines, while the RSI is hovering in the overbought territory with strong momentum, however, negative correction may be on cards in the near future. In case of steeper increases, the price could open the door for [..]

Week Ahead – Fed meets as virus storm worsens; US and Eurozone set for historic GDP collapse

Posted on July 24, 2020 at 12:26 pm GMT

As US politicians squabble over the next fiscal stimulus bill and the country’s virus death toll ticks up again, markets may lean on the Federal Reserve next week for a quick fix. The Federal Open Market Committee (FOMC) meeting will undoubtedly be the most eagerly awaited event of the week. But second quarter GDP prints out of the United States and the euro area will not be far behind as the full extent of the economic shock from COVID-19 is [..]

Daily Market Comment – Concerns the US recovery is stalling ripple through markets

Posted on July 24, 2020 at 8:33 am GMT

Investors push the ‘risk off’ button amid faltering US recovery and monopoly probes into big tech Stocks pull back alongside commodity currencies, yen and gold climb But dollar can’t catch a break – strong euro and Fed expectations in play? Overall, this seems like a correction, not a trend reversal Risk aversion makes a rare comeback Global markets finally took note of the many risks around them on Thursday, amidst clearer signs that the US recovery is stalling, seething US-China [..]

European PMIs: More good news for the euro? – Forex News Preview

Posted on July 23, 2020 at 12:23 pm GMT

With the EU recovery fund deal now in the rear-view mirror, euro traders will turn their sights to the Eurozone’s preliminary PMIs for July, due at 08:00 GMT Friday. Forecasts point to an uptick in all indices, reflecting the smooth re-opening process in Europe. If so, this would be another piece of good news for the high-flying euro, whose rally may still have room to run, especially if the Fed hurts the dollar next week. Europe vs America? It’s [..]

Daily Market Comment – Euro takes no prisoners, dollar falls apart

Posted on July 23, 2020 at 8:23 am GMT

Dollar slide accelerates despite escalating US-China tussle, euro takes flight Markets generally in a cheerful mood, helped by signs Congress is moving closer to a compromise Gold trades like a rocket amid tanking dollar, geopolitical unrest, and stimulus hopes Euro unchained The currency market continues to be dominated by the resurgent euro, which has been liberated from its fiscal shackles after EU leaders took a step closer towards risk sharing this week. Since FX is a zero-sum game in the [..]

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