All Articles Tagged - EURUSD

Market Comment – Dollar unable to capitalize on hot inflation prints

Posted on February 19, 2024 at 9:27 am GMT

US producer prices come in hot, but dollar cannot sustain gains Stock markets take a step back, Nvidia earnings to set the tone Gold recovers recent losses with some help from geopolitics Dollar not impressed The US economy continues to run hot. Incoming data point to solid economic growth, the labor market remains tight, and inflation is not cooling down as quickly as investors had hoped. Last week’s releases reaffirmed this narrative, with both consumer and producer prices rising by [..]

Week Ahead – Fed minutes headline a data-heavy week

Posted on February 16, 2024 at 10:26 am GMT

Dollar shines after inflation surprise, awaits latest Fed minutes In Europe, business surveys will be crucial for euro and sterling Canadian and Australian data releases also on the agenda Fired up dollar turns to FOMC minutes It was a beneficial week for the US dollar, which charged higher after data revealed US inflation is not cooling down as quickly as investors had hoped. Traders were forced to unwind bets of imminent Fed rate cuts in the aftermath, lending [..]

Market Comment – Rate cut bets boosted by surprise dip in US retail sales

Posted on February 16, 2024 at 10:19 am GMT

‘Higher for longer’ fears ease as US consumers spend less Pullback in yields propels S&P 500 to another record close Dollar softness props up euro as ECB doves get more vocal Early rate cut hopes thrown a lifeline After a string of upbeat data on the US economy, investors almost breathed a sigh of relief on Thursday when the latest retail sales numbers disappointed, calming nerves about an overheating economy. Rate cut expectations have suffered several setbacks since January amid [..]

Technical Analysis – EURUSD consolidates below SMAs and 1.0735

Posted on February 15, 2024 at 10:05 am GMT

EURUSD bounces off 3-month low but loses momentum MACD crosses above its trigger line EURUSD has been in a battle with the 1.0735 resistance level over the last four sessions in the 4-hour chart, meeting the 20-period simple moving average (SMA) as well. From a technical perspective, the RSI indicator is heading marginally north below the neutral threshold of 50, while the MACD oscillator is standing above its trigger line below the zero level, suggesting that the negative momentum is [..]

Technical Analysis – EURUSD loses steam after bounce off 1.0725

Posted on February 13, 2024 at 7:57 am GMT

EURUSD holds beneath downtrend line in short-term 20- and 200-day SMAs post death cross Long-term view is still bullish EURUSD is struggling to continue the rebound that started from the 1.0725 support level and the medium-term ascending trend line. Currently, the market is losing momentum indicating a potential downside movement again. The 20-day and 200-day simple moving averages (SMAs) are on the verge of forming a death cross, confirming a decline. Moreover, the RSI indicator is currently pointing south below [..]

Technical Analysis – EURUSD suggests potential upside recovery

Posted on February 12, 2024 at 1:33 pm GMT

EURUSD remains above uptrend line Immediate resistance could come from death cross within 20- and 200-day SMAs EURUSD rebounded off the 1.0725 support level, which overlaps with the medium-term ascending trend line, posting several days of gains. But today the price losing some bullish ground. Technically, the 20- and the 200-day simple moving averages (SMAs) are ready to post a death cross, suggesting more downside movements. The RSI indicator is pointing south below the neutral threshold of 50, while [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on February 12, 2024 at 9:25 am GMT

US CPI figure may confirm another bullish wave for EURUSD UK data this week could clear GBPUSD’s next direction Japan GDP to reverse higher; USDJPY may lose ground US CPI –> EURUSD In the US, inflation has been going down over time, but the CPI shows that the drop in the last few months has stopped short of bringing it all the way down to 2%. Although Fed officials are hopeful that prices will continue to fall over the next few [..]

Market Comment – Yen sinks on BoJ comments, dollar eyes CPI revisions

Posted on February 9, 2024 at 9:44 am GMT

Yen gets mauled as traders lose confidence in BoJ tightening cycle Dollar set for fourth week of gains, inflation revisions today may be crucial Oil prices soar, stock markets take a breather but still at record highs Yen meltdown It’s been a dreadful start to the year for the Japanese yen, which has already fallen more than 5% against the dollar, as a combination of worsening economic data and cautious comments from the Bank of Japan have raised doubts about [..]

Technical Analysis – EURUSD rebounds off ascending trend line

Posted on February 7, 2024 at 2:04 pm GMT

EURUSD recovers some losses Outlook is bearish in short-term but still bullish in longer-term Technical signals are mixed EURUSD found a significant support level at the medium-term ascending trend line and the 1.0725 support, recouping some of the losses of the preceding two days. However, in the near term, the picture is quite negative as the market is standing beneath the downtrend line that started from the peak of 1.1140 and is also holding below the simple moving averages (SMAs). [..]

What now for the US dollar after rate cut delay? – Special Report

Posted on February 6, 2024 at 4:40 pm GMT

US dollar re-energized as strong data, hawkish Fed dent early rate cut bets American economy still churning out new jobs, shows no signs of cracks Will hot economy scupper the Fed’s plan to ease policy this year? From recession fears to overheating risk The US dollar may have ended 2023 on a bearish note as rate cut speculation reached fever pitch, but that has certainly not set the tone for 2024. In fact, the greenback rallied in the first week [..]

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