All Articles Tagged - EURUSD

Market Comment – Gold struggles as solid US data propel dollar higher

Posted on February 6, 2024 at 9:43 am GMT

Gold edges lower, dollar shines after another round of rosy US data Australian dollar recovers on RBA decision and China stimulus hopes Shares on Wall Street lose momentum, but remain near record highs Traders recalibrate Fed rate path Another round of encouraging US data prompted traders to further scale back bets on Fed rate cuts, sending the dollar flying higher on Monday. One of the most important leading indicators of the US economy – the ISM non-manufacturing survey – pointed [..]

S&P 500 at all-time highs, expected to make bigger moves ahead – Volatility report

Posted on February 6, 2024 at 8:39 am GMT

Volatility remains low across the FX spectrum with the exception of EUR/USD Gold volatility drops but silver remains at its midpoint; oil and Bitcoin set for small moves S&P 500 volatility rises significantly; remaining stock indices in calmer waters Volatility in EUR/USD has jumped as the pair recorded a sizeable correction last week following some key data releases. The remaining currencies covered in this report, including the yen crosses, are expected by the market to record small price movements going [..]

Technical Analysis – EURUSD unlocks 2-month low below 1.0800

Posted on February 5, 2024 at 7:49 am GMT

EURUSD meets lower boundary of bearish triangle Market is in descending tendency MACD and RSI strengthen bearish bias EURUSD plummeted more than 1% on Friday after the release of the NFP report and posted a fresh almost two-month low of 1.0766 earlier today, meeting the lower boundary of the bearish triangle. The price is also developing beneath the 200-day simple moving average (SMA) and the 20- and 50-day SMAs act as strong resistance levels as well, after the bearish crossover [..]

Week Ahead – RBA decision and US data on the menu

Posted on February 2, 2024 at 11:52 am GMT

Dollar cannot sustain Fed-fueled advance, will ISM data help? Reserve Bank of Australia could abandon its tightening bias Crucial data releases also from China, Canada, and New Zealand Fed warns against early rate cuts It was an eventful week in global markets. The spotlight fell on the Federal Reserve, which shot down expectations it would cut interest rates in March, with Chairman Powell stressing that this is not the “base case” scenario. Even though inflation has declined substantially, Powell downplayed [..]

Market Comment – Stocks rally ahead of NFP report, pound climbs after BoE caution

Posted on February 2, 2024 at 10:35 am GMT

Wall Street bounces back as earnings beats more than offset disappointments Dollar struggles as mixed US data sets the tone ahead of January jobs report Pound edges up after Bank of England’s Bailey urges caution over rate cuts Wall Street shrugs off blurry outlook Wall Street staged a comeback on Thursday after suffering its worst day since September in the aftermath of the FOMC decision on Wednesday. There was no clear catalyst for yesterday’s rebound as neither the data nor [..]

Market Comment – Powell pushes back on March rate cut, BoE on tap

Posted on February 1, 2024 at 9:12 am GMT

Fed’s Powell says March rate cut not the “base case” Dollar gains, but Treasury yields slide BoE to stand pat, focus to fall on guidance Wall Street tumbles, awaits more earnings results Dollar gains on less-dovish-than-expected Fed The US dollar gained against all but two of its major counterparts yesterday, losing ground only against the yen and ending the day virtually unchanged against the franc. The main losers were the aussie and the loonie. What added fuel to the greenback’s [..]

Technical Analysis – EURUSD plummets to 7-week low

Posted on February 1, 2024 at 8:36 am GMT

EURUSD records several red sessions Remains below SMAs and downtrend line MACD and RSI slip further EURUSD plunged to a new seven-week low earlier this morning, dropping beneath the significant 1.0795 barricade. The pair is in the process of posting the fifth consecutive red 4-hour session, remaining well below the short-term descending trend line. According to technical oscillators, the RSI is diving in the territory below the 50 level, while the MACD is strengthening its negative momentum. Both confirm the [..]

Market Comment – Investors lock gaze on Fed decision

Posted on January 31, 2024 at 9:11 am GMT

Fed to stand pat, focus to turn on rate path signals Aussie falls after Australian CPI slows by more than expected Euro slides ahead of preliminary CPI data from Germany Wall Street trades mixed ahead of Fed decision Will the Fed pour cold water on March rate cut bets? The US dollar traded mixed against the other major currencies on Tuesday, but it is gaining ground today. That said, whether the greenback will hold onto those gains will depend on [..]

How will Eurozone flash CPI affect the euro? – Preview

Posted on January 30, 2024 at 3:27 pm GMT

Preliminary CPI inflation to slow down in January Investors to stick to their rate cut projections as GDP stagnates FOMC policy announcement might have a bigger impact on EURUSD Eurozone economy avoids recession but not Germany It’s not a secret that the Eurozone has been lagging the US economy for more than a decade, but the gap widened significantly in 2023 when the former started to move in the wrong direction in the face of post-pandemic inflation pressures, high interest [..]

Nonfarm payrolls to decide the dollar’s fortunes – Preview

Posted on January 30, 2024 at 11:27 am GMT

US employment data will hit the markets on Friday at 13:30 GMT Another solid jobs report expected, supported by early indicators If so, dollar could receive a boost as investors unwind rate cut bets Dollar shines in early 2024 It’s been a phenomenal start to 2024 for the US dollar, which has already risen more than 2% against a basket of major currencies as a streak of encouraging economic data reinstilled confidence in the US economy, forcing traders to dial [..]

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