All Articles Tagged - EURUSD

Daily Comment – Dollar sinks, gold surges as 50bps Fed cut back in the picture

Posted on September 13, 2024 at 8:58 am GMT

Soft US PPI and reports of Fed dilemma revive bets of 50bps cut Dollar plunges as yields fall, pushing gold to new all-time high Euro climbs as ECB trims rates but does not signal October cut Fed rate cut expectations swing wildly Expectations of a 50-basis-point rate cut by the Fed in September had all been priced out by investors. But softer-than-expected US producer prices and reports that Fed officials are debating the size of next week’s anticipated rate reduction [..]

Technical Analysis – EURUSD pauses southward run at 1.1000

Posted on September 12, 2024 at 12:28 pm GMT

EURUSD needs some boost for more increases Stochastics points up below 20 RSI flattens beneath 50 level EURUSD is battling with the 1.1000 psychological number after the bearish correction that started from the 13-month high of 1.1200. Technically, the stochastic oscillator is ticking slightly higher in the oversold territory, while the RSI is moving horizontally beneath the neutral threshold of 50. Both suggest that the negative move may be paused. A rebound from 1.1000 may drive the market higher to [..]

Daily Comment – Dollar firms after CPI, euro awaits ECB, techs lead equities rebound

Posted on September 12, 2024 at 8:51 am GMT

US dollar edges up after CPI report wipes out 50-bps rate cut bets Euro stuck on the backfoot in wait for ECB decision Wall Street rebound gathers pace as tech stocks rally Mixed CPI report disappoints US inflation fell to the lowest since February 2021 in August, but the bigger-than-expected drop in the headline figure was overshadowed by an acceleration in the monthly core measure. Wednesday’s CPI report was the last major piece of data before next week’s policy announcement [..]

Technical Analysis – EURUSD seems to have found a floor above 1.1000

Posted on September 11, 2024 at 6:44 am GMT

EURUSD is higher again today Momentum indicators confirm an upside recovery EURUSD found some footing around the 1.1015 support level and returned to the upside thereafter. The price failed to penetrate the 1.1000 psychological level where any rally higher may prove valuable to the market. The red Tenkan-sen however remains flat above the blue Kijun-sen and the RSI is currently flirting with the 50 level. Moreover, the stochastic oscillator is trying to tick up in the oversold territory, indicating the [..]

Equities volatility jumps as sentiment turns negative – Volatility Watch

Posted on September 10, 2024 at 10:41 am GMT

Euro/dollar volatility remains low as market digests US data prints Volatility in commodities remains low apart from oil Stock indices and bitcoin experience much higher volatility Volatility in the main FX pairs, including euro/dollar, has eased in the past few days as the market is digesting last week’s US labour market data and preparing for Wednesday’s CPI report, which could play a role in determining the size of the imminent Fed rate cut. On the other hand, yen pairs are experiencing higher volatility [..]

Daily Comment – Equities rebound but face danger from US presidential debate

Posted on September 10, 2024 at 8:19 am GMT

Equities turn positive, but sentiment is fragile US presidential debate today could prove market moving UK labour market data supports the pound Bitcoin gains as risk sentiment improves, gold is range-bound Stocks breathe better US equity markets recorded gains in yesterday’s session, with the Nasdaq 100 index leading the rally, and euro/dollar dropped close to 1.1030 despite the fact that most participants remain uncertain about next week’s Fed rate cut size and confused about the medium-term outlook of the global economy. [..]

ECB policy meeting: another rate cut and emphasis on September’s data – Preview

Posted on September 9, 2024 at 2:55 pm GMT

ECB widely expected to deliver a second rate cut to 3.50% September’s data could be important for October’s meeting EURUSD looks bearish; next support could develop near 1.0990 Spotlight turns to economic growth too Inflation is no longer the sole focus, as economic growth has gained equal importance, athough central banks still prioritize maintaining symmetrical price stability around 2.0%. The story lately was that a couple of disappointing US business and employment data raised speculation that the world’s [..]

Daily Comment – Dollar and equities rebound from NFP-led losses as focus turns to US CPI

Posted on September 9, 2024 at 9:22 am GMT

US jobs report adds to slowdown fears but provides no clarity about Fed policy Dollar whipsaws while stocks tumble as ‘September effect’ takes hold But risk sentiment improves ahead of US CPI report and ECB decision Signs of optimism after NFP bloodbath Markets began the second week of September in a somewhat more upbeat mood as US slowdown jitters were put on hold even as inflation data out of China pointed to persistently weak demand in the world’s second-largest economy. [..]

Weekly Technical Outlook – EURUSD, USDJPY, GBPUSD

Posted on September 9, 2024 at 8:41 am GMT

ECB’s rate cut is expected with EURUSD staying below 1.1200 US CPI data may be another sign before Fed’s decision GBPUSD may plunge further if UK employment data disappoint ECB interest rate decision –> EURUSD Several important economic data releases and events may affect market sentiment in the next few days, following a gloomy week. The focus will be on the European Central Bank’s (ECB) rate decision on Thursday, as the bank is expected to decrease interest rates for the second time this [..]

Quick Brief – US jobs bounce back less than expected, dollar slips

Posted on September 6, 2024 at 1:09 pm GMT

US economy adds 142k jobs in August versus forecast of 160k But unemployment rate dips as wage growth accelerates Nonfarm payrolls bounced back in August, rising by 142k, while the unemployment rate fell slightly to 4.2% as expected. However, the payrolls figure is below the consensus forecast of 160k jobs and the prior month’s reading of 114k was revised down to 89k, feeding doubts about the health of the US economy. Nevertheless, the pickup in jobs growth should come [..]

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