All Articles Tagged - EURUSD

Market Comment – Yen sinks to intervention ‘danger zone’

Posted on March 27, 2024 at 9:43 am GMT

Yen slips to new 34-year low, drawing stronger intervention threats Swiss franc loses ground too, dollar rebounds after solid US data Gold steady near record highs, chipmakers weigh on stock markets Yen hits the danger zone Currency traders are dusting off their FX intervention playbooks after the Japanese yen briefly fell to its lowest levels since 1990 against the dollar, drawing fierce warnings from officials in Tokyo that they could step in to defend the currency. Dollar/yen is currently flirting [..]

Weekly Technical Outlook – USDJPY, EURUSD, Gold

Posted on March 26, 2024 at 1:47 pm GMT

USDJPY consolidates gains after touching important resistance EURUSD begins to recover, but threats remain Will gold’s bull run take a breather after record high? Core PCE inflation –> USDJPY The Bank of Japan’s decision to exit negative interest rates did not provide a helping hand to the yen. Neither did the Fed’s unchanged projections of three rate cuts in 2024 weigh harshly on the US dollar, with USDJPY barely losing ground within the 151.00 territory after marking a new [..]

Market Comment – Yen stabilizes as Japan ramps up intervention warning

Posted on March 26, 2024 at 9:45 am GMT

Threats of FX intervention help yen to stabilize near three-decade lows Dollar and stocks take a step back, Bitcoin jumps in anticipation of halving Shortage of liquidity could be an important market theme this week Yen on intervention watch Authorities in Japan issued another round of warnings to defend the sinking yen, which fell towards its lowest levels in three decades last week, even after the Bank of Japan raised interest rates out of negative territory. Finance minister Suzuki said [..]

Market Comment – Dollar eases from highs as intervention warning props up yen

Posted on March 25, 2024 at 10:22 am GMT

Intervention threat spurs mild rebound in yen after top currency official’s warning Yuan also rebounds, triggering broader retreat in US dollar Stock market rally cools amid quieter week before Easter break, core PCE eyed Yen firmer after fresh verbal intervention The Japanese yen edged higher on Monday, starting the holiday-shortened week on a steadier note, following a 3.5% slide on the back of the Bank of Japan’s dovish rate hike last week. Whilst the BoJ’s historic exit from negative rates [..]

Technical Analysis – EURUSD dives towards 1.0800

Posted on March 25, 2024 at 7:42 am GMT

EURUSD breaks SMAs to the downside Immediate support at rising trend line MACD and RSI suggest more negative movements EURUSD is showing some strong selling interest over the last couple of days, following the pullback from the 1.0940 resistance level. The price is also falling beneath the 50- and the 200-day simple moving averages (SMAs) with the next support coming from the 1.0795 bar and the medium-term ascending trend line which may act as a turning point. Looking at the [..]

Will PCE data revive concerns about sticky US inflation? – Preview

Posted on March 22, 2024 at 1:26 pm GMT

Fed continues to see three rate cuts for 2024 Investors add back to the June cut probability Focus shifts to next week’s core PCE index The data comes out on Friday at 12:30 GMT Fed appears more dovish than expected The Fed appeared more dovish than expected at its highly anticipated March gathering on Wednesday, with the updated dot plot still pointing to three quarter-point rate cuts for 2024. Despite the upgrades in growth and inflation forecasts, officials just removed [..]

Week Ahead – Markets quiet down after central bank frenzy

Posted on March 22, 2024 at 12:03 pm GMT

Dollar recovers after Fed selloff, turns to PCE inflation Yen falls despite rate increase, testing three-decade lows Quarter-end flows could disturb the waters in a quiet week Dollar stages recovery after Fed It was an action-packed week for FX traders, with five central bank meetings injecting volatility into the market. In a surprising move, the Federal Reserve continued to signal three rate cuts for this year, even though its new economic forecasts pointed to slightly hotter inflation and faster [..]

Market Comment – Stocks at fresh records even as dollar bounces back

Posted on March 22, 2024 at 10:38 am GMT

Wall Street leads rally in equity markets, fuelled by rate cut optimism But US dollar stages surprise rebound amid US exceptionalism Pound slides on BoE’s dovish tilt, yen steadies, PBOC loosens grip on yuan Equities buoyed as easing expectations gather pace Shares on Wall Street are headed for strong weekly gains following the conclusion of the March central bank meetings that cemented rate cut expectations for 2024. After the European Central Bank paved the way for lower rates at the [..]

Does the Easter break affect markets? – Special Report

Posted on March 21, 2024 at 3:46 pm GMT

Oil prices tends to rally before and after Easter Sunday Euro/dollar’s performance becomes clearer when drilling down the data Patterns emerge when focusing only on Easter Sunday occurring in March Most participants who trade based on seasonal patterns, enjoy combining the market’s performance with certain events like the Christmas and Easter breaks. This report focuses on the performance of certain key market assets: (1) during the final week before Easter Sunday, (2) the first week after Easter, (3) 30 days [..]

Market Comment – Dollar tumbles as Fed still sees three rate cuts this year

Posted on March 21, 2024 at 9:16 am GMT

Fed’s updated dot plot continues to suggest three rate cuts in 2024 Dollar tumbles across the board, June cut probability rises Pound traders lock gaze on BoE, SNB cuts interest rates S&P 500, Dow Jones and gold hit new record highs Dollar falls on dovish Fed The US dollar tumbled across the board on Wednesday after the Fed’s new projections revealed that officials are still expecting three quarter-point rate cuts in 2024. The greenback has been in a recovery mode [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

EURUSD

XM Live Chat