All Articles Tagged - EURUSD

Weekly Technical Outlook – USDJPY, EURUSD, NZDUSD

Posted on February 26, 2024 at 9:29 am GMT

US Core PCE price index expected to fall as USDJPY weakens Decline in flash Eurozone CPI may lead to rate cuts; EURUSD remains above 1.0800 RBNZ expected to keep rates unchanged; NZDUSD falls after bullish rally US Core PCE price index –> USDJPY The Federal Reserve is not rushing to ease policy, and markets are beginning to accept the possibility that there will be no rate cuts before the summer. Annually, the core PCE price index is anticipated to have decelerated [..]

German economic troubles could keep the euro heavy – Special Report

Posted on February 23, 2024 at 12:48 pm GMT

Eurozone economy narrowly avoided a recession last year Yet situation could get worse as Germany tightens spending Can the euro ignore deteriorating economic fundamentals? No recession, but no growth either The euro area miraculously dodged a recession last year, even despite inflation eating into people’s real incomes and high interest rates dampening demand. Most of the heavy lifting was done by Spain, which grew at a solid pace, offsetting a contraction in Germany. Alas, overall economic growth was [..]

Week Ahead – US and Eurozone inflation, RBNZ meeting to test rate cut bets

Posted on February 23, 2024 at 11:07 am GMT

US core PCE and Eurozone flash CPIs to keep inflation worries in the foreground Japanese and Australian inflation numbers also coming up RBNZ might strike a hawkish tone Manufacturing PMIs also in the spotlight PCE inflation to headline busy US data week The Fed is in no rush to ease policy and markets are finally starting to come round to the prospect of no rate cuts before the summer. Yet, stock markets have remained bullish, suggesting that the fact alone [..]

Market Comment – Nvidia supercharges tech rally, euro loses momentum

Posted on February 23, 2024 at 10:00 am GMT

Stock markets hit new record highs after stellar Nvidia earnings Euro surrenders early gains as German economic gloom intensifies Dollar recovers with help from solid data, risk-linked currencies shine Tech propels stocks to new highs Equity markets rode to new record highs on Thursday, after a stellar earnings report from Nvidia lit a fire under tech shares. The world’s most important chip designer knocked it out of the park as it delivered earnings and revenue that easily beat analyst estimates, [..]

Market Comment – Fed minutes confirm caution about lowering rates

Posted on February 22, 2024 at 9:46 am GMT

Fed minutes reveal concerns about lowering rates too soon Rate cut bets are pushed back but dollar remains unimpressed Kiwi continues to gain on increasing RBNZ hike speculation Wall Street closes mixed, Nvidia beats earnings estimates Dollar slides further despite hawkish Fed minutes The dollar traded lower against all but one of its major counterparts yesterday, with the New Zealand dollar being once again the main gainer and the Japanese yen the exception. The minutes of the latest FOMC decision [..]

Technical Analysis – EURUSD jumps to test critical resistance

Posted on February 22, 2024 at 9:19 am GMT

EURUSD has its best week of the year Downside risks remain around 1.0880 EZ flash business PMIs show a mixed picture EURUSD is in the seventh day of gains, marking its longest bull run in a while to reach the critical 1.0880 bar. Disappointingly, Eurozone’s flash business PMI figures for February could not lift the pair above that threshold earlier today as the manufacturing sector continued to shrink, but the technical indicators are still in the bullish area. The [..]

Technical Analysis – EURUSD tests 1.0800 above falling trend line

Posted on February 21, 2024 at 12:59 pm GMT

EURUSD shows some signs for bullish actions But 200-day SMA acts as strong resistance EURUSD is attempting to surpass the immediate resistance of 1.0805 and the flat 200-day simple moving average (SMA), which is currently standing at 1.0820. The pair jumped above the short-term uptrend line in the preceding session, indicating a potential upside recovery. The MACD is endorsing the bullish scenario as it is traveling above its trigger line in the negative region; however, the RSI is pointing south [..]

Market Comment – Fed minutes and Nvidia earnings in the spotlight

Posted on February 21, 2024 at 9:24 am GMT

Dollar gets knocked down ahead of FOMC meeting minutes Gold recovers more ground, China-related assets gain after rate cut Nvidia earnings later today will set the tone in stock markets Fed minutes to drive the dollar The US dollar hit an air pocket this week, losing altitude without any clear news catalyst behind the decline. Incoming data continues to point to a US economy that is running hot, with economic growth on track to hit 3% this quarter, a historically [..]

Dollar turns to Fed minutes for more fuel – Preview

Posted on February 20, 2024 at 12:42 pm GMT

Minutes of latest Fed meeting will be released at 19:00 GMT Wednesday Given strength of US economy, Fed has warned against early rate cuts If the minutes echo this view, dollar could extend its winning streak Traders recalibrate Fed rate path The US economy continues to fire on all cylinders. Economic growth is on track to hit 3% this quarter, the labor market is historically tight, and inflation readings have been persistently hot in recent months. Reflecting this economic [..]

Weekly Technical Outlook – USDJPY, EURUSD, GBPUSD

Posted on February 19, 2024 at 12:22 pm GMT

Will USDJPY find its next bullish catalyst this week to resume its uptrend? EURUSD stays victim to the dollar; needs significant gains to violate downtrend GBPUSD supported, but not bullish yet; focus on 1.2700 region FOMC meeting minutes, S&P Global business PMIs –> USDJPY In response to upbeat US data, investors have almost convinced themselves that the Fed will not deliver its first rate cut in spring while they are also undecided whether June’s policy meeting will be the right [..]

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