All Articles Tagged - EURUSD

Weekly Technical Outlook – USDJPY, EURUSD, USDCAD

Posted on March 4, 2024 at 12:17 pm GMT

USD/JPY holds above 20-day SMA as investors wait for fresh rate signals EUR/USD inside a constraining zone as ECB rate decision looms USD/CAD stabilizes near December’s barrier ahead of BoC policy meeting Nonfarm payrolls, Powell’s testimony –> USD/JPY USDJPY remained flat and supported around its 20-day simple moving average (SMA) even though Friday’s ISM manufacturing PMI for February fell short of expectations by a large margin, squeezing Treasury yields lower. Investors are now eagerly waiting for the Fed chairman’s testimony [..]

Market Comment – Gold and equities shine after disappointing US data

Posted on March 4, 2024 at 10:07 am GMT

Dollar loses steam after soft ISM manufacturing survey But gold and stock markets rally, closing at new records Huge week lies ahead, featuring an ECB decision and US payrolls Dollar retreats on softer data A wave of euphoria swept through global markets last week after a disappointing US manufacturing survey rekindled hopes that lower interest rates are on the horizon, sending investors rushing to buy real assets. The US manufacturing sector fell deeper into contraction in February according to the [..]

Week Ahead – ECB decision and US payrolls to steal the show

Posted on March 1, 2024 at 10:32 am GMT

Nonfarm payrolls and Powell’s testimony will be crucial for US dollar European Central Bank could set the stage for summer rate cuts Bank of Canada decision and UK budget announcement also in focus Dollar braces for US payrolls Riding high on a wave of US economic resilience, the dollar is currently the best-performing major currency this year, having gained nearly 3% against a basket of currencies in a couple of months. This stellar performance reflects an impressive US economy. [..]

Market Comment – Stocks storm to fresh records on easing inflation

Posted on March 1, 2024 at 10:28 am GMT

Wall Street surges to all-time highs after in-line PCE inflation Dollar slips before bouncing back, yen gets knocked back by dovish Ueda Euro supported by upside surprises in CPI and manufacturing PMIs Equities cheer inflation data Shares on Wall Street ended the month at all-time highs on Thursday and are set to maintain the buoyant mood in March as a summer rate cut in the US looks more certain following a decline in the Fed’s preferred inflation gauge and some [..]

Market Comment – Yen gains on BoJ remarks, dollar awaits key inflation data

Posted on February 29, 2024 at 9:31 am GMT

BoJ’s Takata signals that policy adjustment is approaching Dollar braces for PCE inflation data Wall Street pulls back, Bitcoin surges above $60,000 BoJ’s Takata adds fuel to yen’s engines The US dollar traded higher on Wednesday, but it seems to be cooling down today, as it is trading virtually unchanged or lower against most of its major peers, with the main gainer being the Japanese yen. The wounded yen found some footing after Bank of Japan board member Hajime Takata [..]

Technical Analysis – EURUSD remains stuck between SMAs

Posted on February 29, 2024 at 8:40 am GMT

EURUSD trades in a range defined by 50- and 200-day SMAs Momentum indicators are marginally tilted to the upside EURUSD has posted a mild recovery following its pullback from the December high of 1.1138 to the 2024 bottom of 1.0693. However, the pair’s rebound has stalled at the congested region that includes the 50-day simple moving average (SMA) and Ichimoku cloud, with the price consolidating between the 50- and 200-day SMAs. Considering that both the RSI and MACD are providing cautiously positive [..]

Performance in past “Fed pause” intervals supports the current S&P 500 rally – Special Report

Posted on February 28, 2024 at 10:55 am GMT

A performance comparison of key assets in the previous Fed pause periods The S&P 500 index could go higher if history repeats itself The US 10-year yield is expected to drop when the Fed decides to signal rate cuts A special report was published last year analysing the performance of key market assets during the three occasions since 2000 – in 2000-01, 2006-07 and 2018-19 respectively – when the Fed paused after a rate hiking cycle. The end product was [..]

Market Comment – Kiwi plunges on RBNZ’s dovish turn, Wall Street consolidates

Posted on February 28, 2024 at 9:56 am GMT

Aussie and kiwi take a dive as Australian CPI, RBNZ ease rate hike fears China’s property troubles also weigh Wall Street and dollar await PCE data for direction RBNZ disappoints hawkish bets The Reserve Bank of New Zealand did not live up to the hawkish expectations that had been building up in the run up to today’s interest rate decision. Despite the recent hawkish commentary from Governor Orr and much speculation that the next move in the OCR is more [..]

Market Comment – Dollar stays on the backfoot ahead of key data, yen enjoys CPI lift

Posted on February 27, 2024 at 10:25 am GMT

Traders await some key data releases, RBNZ decision amid quiet start to the week Yen broadly firmer after CPI beat, adds to dollar weakness as euro extends gains Equity rally loses some steam but Bitcoin surges Markets calm ahead of data flurry as dollar struggles The US dollar was headed for its seventh straight session of losses against a basket of currencies on Tuesday even as investors continued to scale back their rate cut expectations for the Fed. There’s been [..]

Technical Analysis – EURUSD in bullish bias after climbing above 200-day SMA

Posted on February 26, 2024 at 1:37 pm GMT

EURUSD seems positive after bounce off medium-term uptrend line RSI and MACD confirm upside pressure EURUSD is extending its bullish movement above the 200-day simple moving average (SMA) after the strong rebound off the 1.0695 support level, which overlaps with the medium-term ascending trend line. The RSI indicator is pointing upwards above the neutral threshold of 50, while the MACD is holding above its trigger line but still beneath the zero level. Should the pair manage to strengthen its positive [..]

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