All Articles Tagged - EURUSD

Market Comment – Dollar pulls back, Yen stages another recovery

Posted on January 24, 2024 at 9:46 am GMT

Dollar retreats as Bullard talks March rate cut Yen recovers again on BoJ hike speculation BoC to keep interest rates untouched Risk appetite remains supported, S&P 500 hits new record Bullard says Fed could cut rates as soon as March The US dollar traded higher against most of the major currencies on Tuesday, losing some ground only against the risk-linked aussie, kiwi and loonie. That said, the greenback is on the back foot today, perhaps due to remarks by former [..]

Will US GDP surprise to the upside? – Preview

Posted on January 23, 2024 at 11:02 am GMT

US will release GDP growth data at 13:30 GMT on Thursday An upside surprise seems more likely than a disappointment Dollar could benefit from a beat, as Fed cut bets are unwound Dollar comes back to life The US dollar started the new year on a strong note. A series of economic indicators have reaffirmed the resilience of the US economy lately, forcing traders to reconsider how quickly and how deep the Fed will cut interest rates this year. Investors [..]

Volatility Report – January 23, 2024

Posted on January 23, 2024 at 10:45 am GMT

Volatility remains significantly low across the currency board Commodity markets seem quiet as well, oil exhibits more volatility than metals US indices in the middle of volatility range, JP225 and Bitcoin are rather hot The recent range-trading in most major currency pairs has caused their expected volatility to drop to relatively low levels. That said, there are several central bank meetings coming up, which could help reignite FX volatility In the commodity space, volatility of gold and silver continues its downward move despite the [..]

Weekly Technical Outlook – EURUSD, USDJPY, USDCAD

Posted on January 22, 2024 at 1:49 pm GMT

EUR/USD constrained between SMAs ahead of ECB policy decision & flash PMIs USD/JPY faces limited room for improvement as BoJ rate decision & US data loom USD/CAD comes under pressure. Will the BoC policy meeting boost sentiment? ECB policy meeting –> EUR/USD EUR/USD had a soft positive opening on Monday, gradually approaching the 1.0900 round level as investors awaited a volatile week ahead. The recent bearish trendline breakout was halted immediately near the 200-day simple moving average (SMA) at 1.0843 last [..]

Technical Analysis – EURUSD trades quietly slightly above 1.0840

Posted on January 22, 2024 at 1:43 pm GMT

EURUSD trades in quiet mode above upside support line But in the bigger picture, it remains within a sideways range For a clear directional signal, it needs to escape that range EURUSD has been trading in a quiet mode lately, staying above the upside support line drawn from the low of October 4 and the 1.0840 barrier. However, in the bigger picture, the pair remains between 1.0665 and 1.1070, a sideways range that’s been containing the price action since January [..]

ECB meeting: summer rate cut in focus amid pushback by the hawks – Preview

Posted on January 22, 2024 at 12:22 pm GMT

ECB faces a communication challenge in first meeting of the year Timing of rate cut likely to dominate discussion, but hawks to resist Mixed messages unhelpful to euro ahead of the decision on Thursday (13:15 GMT) Flash PMIs on Wednesday (11:00 GMT) on the agenda too Progress on inflation may be slowing After inflation shot up to double digits in 2022, it’s fair to say that 2023 has been a more successful year for the European Central Bank. The annual [..]

Market Comment – Yen awaits BoJ decision, stocks hit new records

Posted on January 22, 2024 at 10:01 am GMT

Stock markets reach new heights on solid US data and AI hype Risk-on sentiment keeps dollar on back foot, even as Fed cut bets fade Bank of Japan meets on Tuesday, unlikely to rescue battered yen US equities set another record Shares on Wall Street reached a new all-time high last week, as the enthusiasm surrounding artificial intelligence went into overdrive and another round of solid economic data reinforced hopes that the US economy can avoid a recession. Companies with [..]

Week Ahead – ECB and BoJ meetings in the spotlight

Posted on January 19, 2024 at 10:57 am GMT

Japanese yen loses ground ahead of BoJ decision on Tuesday ECB meets on Thursday, will it push back against rate cut bets? Bank of Canada decides too, while the US releases GDP stats BoJ unlikely to rescue battered yen The Japanese yen started the new year on the wrong foot, losing 5% of its value against the US dollar in the space of three weeks as cooling inflation and a sharp slowdown in wage growth convinced investors that the [..]

Market Comment – Tech stocks rally on AI boom even as yields rise, dollar steady

Posted on January 19, 2024 at 10:26 am GMT

Apple and semiconductors push Nasdaq 100 to new record high But Fed repricing limits gains outside of tech as yields edge up Dollar holds firm, pound slips on data, yen propped up by verbal intervention AI optimism spurs tech rally AI mania made a comeback on Thursday as optimism about a recovery in AI-related demand as well as the broader tech sector boosted equity markets. Apple and TSMC were the main catalysts for yesterday’s rally, ending a two-day rout on [..]

Technical Analysis – EURUSD pulls back from rising trend line

Posted on January 18, 2024 at 12:40 pm GMT

EURUSD attempts to rebound off 1.0875 Gets rejected at 1.0900 but 200-day SMA provides support EURUSD has found strong support near the 200-day simple moving average (SMA) and the medium-term uptrend line over the last couple of days. The market is currently slightly below the 1.0900 psychological number and needs some more boost to extend its bullish structure. In terms of technical oscillators, the RSI is flattening below the neutral threshold of 50, while the MACD is losing momentum beneath its [..]

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