All Articles Tagged - EURUSD

Technical Analysis – EURUSD oscillates within a sideways range

Posted on April 10, 2024 at 8:03 am GMT

EURUSD trades sideways between 1.0725 and 1.0930 Oscillators confirm the lack of directional momentum A move above 1.0930 may be needed to brighten the outlook EURUSD pulled back on Tuesday, after hitting resistance slightly above the 1.0875 barrier, marked by the high of April 4. In the bigger picture, most of the price action has been contained between 1.0725 and 1.0930 since January 16, suggesting a neutral near-term outlook. The lack of directional momentum is also confirmed by our short-term [..]

Technical Analysis – EURUSD remains above SMAs with weak momentum

Posted on April 9, 2024 at 12:27 pm GMT

EURUSD recovers somewhat above 1.0800 But MACD and RSI rebounds lose steam EURUSD recorded a stunning rally last week, surpassing the flat simple moving averages (SMAs) following the bounce off the medium-term tentative uptrend line. This week, though, the pair is on the backfoot and the technical indicators suggest that the market could ease a little bit in the short-term. The RSI is currently moving sideways marginally above the 50 territory, while the MACD is slowing down its positive momentum [..]

Could the ECB adopt its June 2022 playbook and preannounce a rate cut? – Preview

Posted on April 8, 2024 at 3:10 pm GMT

The ECB meets on Thursday with strong indications for a dovish tilt Low chances of a rate cut being announced this week The euro could enjoy a short-term rally against the US dollar if ECB proves hawkish Decision will be announced on Thursday 12.15 GMT, press conference at 12:45 GMT The ECB meets this week The European Central Bank is hosting its third rate-setting gathering for 2024 on Thursday, April 11. The chances of significant announcements are quite low, but [..]

Market Comment – Stocks climb after sizzling US jobs report

Posted on April 8, 2024 at 8:55 am GMT

Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar unable to hold onto gains, as stock markets race higher Gold hits new record highs, defying rising yields and geopolitics US labor market sizzles The American economy continues to hum along, with the labor market still firing on all cylinders. Nonfarm payrolls rose by 303k in March, handily surpassing forecasts. What is most impressive is that the unemployment rate fell even as labor force participation rose, which suggests the new [..]

Technical Analysis – EURUSD undecided near converging SMAs

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

EURUSD fluctuates near its 50- and 200-day SMAs Forms two successive doji candles, unable to adopt a direction Momentum indicators strengthen but remain negative EURUSD experienced an aggressive decline before finding its feet at 1.0722, a region that also held strong in February. Despite its attempt to rebound, the pair has met strong resistance at the congested region that includes both the 50- and 200-day simple moving averages (SMAs) as well as the lower boundary of the Ichimoku cloud. Should the [..]

Week Ahead – ECB decision and US inflation to fuel FX volatility

Posted on April 5, 2024 at 11:05 am GMT

Central bank decisions in Eurozone, Canada, and New Zealand Highlight will be the ECB – likely to signal a rate cut in June In US, the dollar will be driven by inflation stats and Fed minutes ECB meeting – Nearly time to cut The Eurozone economy has gone through a rough patch over the last year. Growth has been almost stagnant, held back by Germany, which fell into contraction as a slowdown in global trade suppressed demand for exports [..]

Technical Analysis – EURUSD trims earlier gains as clock ticks down to NFP

Posted on April 5, 2024 at 9:14 am GMT

EURUSD pulls back from two-week high Technical bias is not bearish yet EURUSD gave up some ground on Thursday after a sharp rally from a one-and-a-half-month low of 1.0723 to a two-week high of 1.0875. The US nonfarm payrolls report is on the agenda today and investors will look at whether jobs growth slowed down to 212k and wage growth eased to 4.1% y/y as forecasts suggest. The pair might receive some assistance if there are indications of a weakening US labor market, [..]

Market Comment – Fed hawks spook markets ahead of NFP

Posted on April 5, 2024 at 9:08 am GMT

Hawks dominate latest round of Fed speak; stocks slip, dollar rebounds But rate cut odds little changed as US jobs report awaited Yen firms after Ueda opens door to more rate hikes Oil extends gains on geopolitical tensions, but gold pulls back Fed officials cast doubt about rate cuts Fresh uncertainty about the timing and pace of Fed rate cuts this year weighed on markets on Friday as policymakers grew increasingly wary about the inflation outlook. The expectation that the [..]

Why does the 10-year US yield remain so high? – Special Report

Posted on April 4, 2024 at 2:14 pm GMT

The 10-year US yield is a key determinant of FX moves It tends to drop when the Fed prepares to cut its interest rates Despite market expectations about the Fed, the 10-year US yield remains high A stock market correction could be a catalyst for a sizeable drop in US yields The 10-year US yield is the barometer of the US economy. It is the basis for pricing both sovereign and corporate debt and it also determines US mortgage rates [..]

Market Comment – Equities in the green as they prepare for Friday’s jobs data

Posted on April 4, 2024 at 8:12 am GMT

Stocks bounced higher, helped by Chairman Powell and weaker data Euro gains despite weaker inflation; gold posts a new all-time high A plethora of Fed speakers to potentially impact market sentiment today Stocks edge higher as Chairman Powell sounds reassuring The market continues to be driven by fundamentals, reacting to almost every single piece of data. We remain in the “bad data is good news” phase as the market yesterday tried to largely ignore the stronger ADP employment report, which [..]

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