All Articles Tagged - EURUSD

Technical Analysis – EURUSD indecisive ahead of US inflation

Posted on January 10, 2024 at 3:41 pm GMT

EURUSD holds a weekly sideways trajectory within the 1.0900 region Technical signals reflect a wait-and-see mode ahead of US CPI data EURUSD has been ranging between its 50- and 200-period exponential moving averages (EMAs) at 1.0960 and 1.0910 respectively over the past week, with investors probably awaiting December’s US CPI inflation figures to gain new direction. The RSI and the MACD are sending neutral signals as the former keeps testing its 50 neutral mark and the latter is squeezed between its signal and zero lines. [..]

Market Comment – Stock markets flirt with record highs

Posted on January 9, 2024 at 9:58 am GMT

Stocks back near record highs as ‘tech fever’ grips investors Oil and gold prices lick their wounds after recent declines British pound and Japanese yen outperform in quiet FX trading Wall Street resumes rally Stock markets staged a ferocious rally on Monday, with the S&P 500 nearly erasing all of last week’s decline to approach its record highs once again. At the tip of the spear was Nvidia, which surged 6.4% to hit its highest levels ever after the chipmaker [..]

Volatility Report – January 9, 2024

Posted on January 9, 2024 at 9:21 am GMT

EUR/USD and GBP/USD volatility picks up, JPY crosses seem quiet Gold and Silver volatility inches lower, oil and Bitcoin set for big moves US indices in calm waters; DAX and JP225 volatility at monthly highs EUR/USD expected volatility remains high after a market moving NFP report and ahead of the US CPI data on Thursday. On the flip side, yen crosses are expected to experience very low volatility going forward. In commodities, gold and silver implied volatility has fallen substantially [..]

Technical Analysis – EURUSD flirts with 20-day SMA

Posted on January 9, 2024 at 8:10 am GMT

EURUSD rebounds off 1.0875 50- and 200-SMAs post golden cross Price is still well above uptrend line EURUSD is rising somewhat after the pullback off the 1.0875 support level and has been battling with the 20-day simple moving average (SMA) over the last four sessions. It is worth mentioning that the 50- and the 200-day SMAs posted a golden crossover suggesting more gains in the next few sessions, while the technical oscillators are contradicting each other. The RSI is pointing [..]

Market Comment – Dollar and equities in limbo after mixed US data

Posted on January 8, 2024 at 10:25 am GMT

Dollar struggles for direction after contradicting data releases Oil prices drop on Saudi price cuts, gold prices drift lower too Chinese shadow bank files for bankruptcy, reviving contagion fears Dollar caught in the middle A mixed batch of economic data releases left the US dollar and equity markets without a clear direction on Friday. On the bright side, the US employment report for December exceeded expectations, with nonfarm payrolls beating forecasts and wage growth coming in hotter than anticipated. However, [..]

Technical Analysis – EURUSD dives further near 1.0900

Posted on January 5, 2024 at 10:48 am GMT

EURUSD slips from 1.1150, creating bearish correction Next level at 200-day SMA MACD and RSI confirm negative move EURUSD remains under pressure and risk is still to the downside as prices continue to drift lower from the 1.1150 resistance in the short-term timeframe. The technical indicators are bearish and point to more weakness in the market. The RSI is heading south near the zero level, while the MACD oscillator is holding beneath its trigger line in the bullish region. The [..]

Market Comment – Investors trim Fed rate cut bets ahead of US jobs report

Posted on January 5, 2024 at 10:32 am GMT

Upbeat US job indicators fuel expectations of a strong NFP report Yields and dollar jump, stocks pressured as rate cut bets go into reverse No boost for wounded euro from pickup in Eurozone inflation Markets have second thoughts about big rate cuts Expectations that the Federal Reserve would aggressively slash interest rates this year took a knock ahead of Friday’s nonfarm payrolls report as investors repositioned themselves following some upbeat data on Thursday. The number of Americans filing for unemployment [..]

Market Comment – New Year selloff eases despite Fed ambiguity, dollar falls back

Posted on January 4, 2024 at 10:25 am GMT

Fed minutes dent hopes of early rate cut but markets perk up anyway Higher services PMIs lift sentiment in Europe and Asia, boosting US futures too Dollar rebound pauses for breath, oil jumps on supply concerns Fed rate cut bets little changed after December minutes Markets wavered after the Fed published the minutes of its December policy meeting on Wednesday as investors weighed the prospect of rate cuts amid mixed signals from policymakers. The minutes gave no indication that rate [..]

Market Comment – Investors lock gaze on Fed minutes

Posted on January 3, 2024 at 9:06 am GMT

Dollar rallies on the first trading day of 2024 Fed minutes enter the spotlight, ISM mfg PMI also on tap Wall Street slides, dragged by big tech firms Oil erases gains on deteriorating risk sentiment Dollar rallies as traders scale back Fed cut bets The US dollar began the year on a strong footing on Tuesday, accelerating its advance through the day and even recording gains of more than 1% against some currencies. With no clear event or catalyst to [..]

Could euro area CPIs unsettle the ECB rate cut expectations? – Preview

Posted on January 2, 2024 at 10:04 am GMT

New year starts with the December inflation report testing ECB’s hawkishness Market looks for a sizeable pickup in CPI, creating doubt about the rate cuts priced in German CPI figure released on Thursday; the euro area aggregate on Friday 10:00 GMT The new year starts on a rather high note With market participants recovering from the well-earned festive break, 2024 starts on a rather high note. In the US, the labour market statistics could be a rough awakening for the [..]

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