All Articles Tagged - EURUSD

Market Comment – Equities under growing pressure, eye US data, amid rate cut doubts

Posted on April 3, 2024 at 8:02 am GMT

Stocks suffer as chances of a summer Fed rate cut decrease Extra focus on today’s US data releases and Fed speakers Euro shows resilience while gold defies gravity Stocks suffer as the US economic outlook remains bright Recent US data releases, and in particular Monday’s ISM Manufacturing survey, appear to have caused quite a market stir. Equities fell during Tuesday’s session with the S&P500 index enjoying its weakest day since early March on the back of growing expectations that the [..]

Will the NFP report take June off the rate-cut map? – Preview

Posted on April 3, 2024 at 6:53 am GMT

Investors have second thoughts about a Fed rate cut in June Dollar benefits from latest market repricing Spotlight turns to the NFP data on Friday at 12:30 GMT Data and Fed rhetoric weigh on Fed rate cut bets At its latest gathering, the Fed appeared more dovish than expected, still pointing to three quarter-point rate cuts for 2024. This allowed market participants to add back to their June cut bets, lifting the probability for a 25bps reduction to around 80%. [..]

Technical Analysis – EURUSD recoups some notable losses

Posted on April 2, 2024 at 12:55 pm GMT

EURUSD remains beneath ascending trend line Technical oscillators endorse negative view EURUSD is still holding beneath the medium-term uptrend line and the strong flat 200-day simple moving average (SMA). The 20-day SMA is slipping to the downside and the technical oscillators are confirming the recent bearish correction in the short-term timeframe. The RSI is standing beneath its downtrend line and near the 30 level, while the MACD is extending its negative momentum beneath its trigger and zero lines. More downside [..]

Market Comment – Dollar and gold rise in tandem as Fed rate cut bets pared back

Posted on April 2, 2024 at 9:17 am GMT

Dollar strengthens across the board after upbeat ISM as June cut hopes fade Japan keeps up intervention rhetoric as yen stays under pressure Gold undeterred by strong dollar, rebounds towards record high Equities mixed ahead of crucial European and US data Rate cut bets suffer another blow Hopes for an early rate cut by the Fed were dashed again on Monday following yet another upbeat data release out of the US. The ISM manufacturing PMI rose more than expected in [..]

Weekly Technical Outlook – USDJPY, EURUSD, USDCAD

Posted on April 2, 2024 at 8:59 am GMT

USDJPY struggles below 34-year high as NFP report awaited European Flash CPI to fall but will EURUSD extend recent decrease? Canada unemployment number predicted to rise; USDCAD looks for a rebound NFP report –> USDJPY The labor market has predominantly exhibited a positive trend, albeit with a steady decline that has caused the Federal Reserve to be concerned about potential overheating. However, a deceleration became more evident in February as the jobless rate increased to 3.9% and pay growth fell [..]

Market Comment – Gold prices storm to new record highs

Posted on April 1, 2024 at 9:19 am GMT

Gold cruises to new all-time high in thin holiday trading Yen steady in a narrow range, dollar braces for key events Stock markets keep rising, with some help from Chinese data Gold goes through the roof The world’s oldest safe haven asset stormed to a new all-time high on Monday, reaching a peak of $2,265 per ounce in an environment of thin liquidity as most of Europe is away on holiday. Gold has risen more than 9% already this year, [..]

Technical Analysis – EURUSD’s recent bearish tendency to be tested this week

Posted on April 1, 2024 at 7:28 am GMT

EURUSD trades sideways in anticipation of this week’s key market events It remains below the various simple moving averages employed Momentum indicators support the current bearish move EURUSD is moving sideways today amidst a quieter start of the week due to the Easter Monday holiday observed in Europe. EURUSD has been on the retreat after repeatedly failing to break above the December 28, 2023 descending trendline and it is currently hovering below the 50-, 100- and 200-day simple moving averages [..]

Week Ahead – Rate cut hopes rest on US jobs report and Eurozone flash CPI

Posted on March 29, 2024 at 10:32 am GMT

Nonfarm payrolls report and European flash CPI to shape rate cut bets ISM PMIs to also be important for Fed expectations and US dollar Canadian employment and Chinese PMIs also on the agenda Fed hawks rear their ugly heads The March round of policy meetings reinforced June as the likely date when most central banks will begin cutting rates. Yet, doubts remain about whether or not inflation is on a sustainable path downwards, especially in the United States. Although FOMC [..]

Euro loses altitude ahead of inflation stats – Preview

Posted on March 29, 2024 at 10:28 am GMT

Euro has been struggling lately as US dollar gained momentum Next round of inflation data is due on Wednesday at 10:00 GMT Overall, outlook for the euro seems negative at this stage Euro gets knocked down It’s been a difficult year for the euro so far. The single currency lost more than 2% against the US dollar in the first quarter, dragged down by a long spell of economic stagnation in the euro area, alongside mounting signs that the [..]

Technical Analysis – EURUSD eases below 200-day SMA

Posted on March 27, 2024 at 1:10 pm GMT

EURUSD may touch uptrend line MACD and RSI indicate negative movements EURUSD is slipping beneath the 200-day simple moving average (SMA) but is still above the 1.0800 area. As the market remains above this level and the medium-term ascending trend line, the outlook is still bullish. However, the technical oscillators are suggesting a bearish retracement. The RSI is ticking marginally down below the 50 level, while the MACD is dropping below its trigger and zero lines. In case of steeper [..]

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