All Articles Tagged - EURUSD

Market Comment – Stocks hit new records on rate cut excitement

Posted on December 20, 2023 at 9:47 am GMT

Dow Jones and Nasdaq 100 cruise to new record highs British pound drops as inflation cools off, yen stabilizes Supply concerns lift oil prices, gold gains some ground Party on Wall Street It’s been a stellar year for stock markets. The Dow Jones and Nasdaq 100 both closed at fresh record highs yesterday, despite some pushback from Fed officials who warned that markets are getting ahead of themselves in pricing in such heavy rate cuts for next year. Investors are [..]

Volatility Report – December 19, 2023

Posted on December 19, 2023 at 10:29 am GMT

EUR/USD volatility eases aggressively, major JPY crosses remain in turbulent waters Gold and oil volatility at their midpoints, silver expected to experience sizeable moves Volatility drops in stock indices except JP225; Bitcoin returns to calmer periods EUR/USD expected volatility dropped to the lowest level of the past 30 days as the market appears to be preparing for the much-needed break. However, volatility in yen crosses remains extremely elevated but it is eventually expected to embrace the festive spirit. In commodities, [..]

Market Comment – Yen sinks as BoJ stands pat, crude oil spikes on Red Sea attacks

Posted on December 19, 2023 at 10:16 am GMT

BoJ maintains easing bias, gives little away on pivot timing, pummelling the yen Oil futures jump before steadying amid supply fears from Red Sea missile strikes Wall Street extends winning streak despite some scaling back of rate cut bets BoJ stands pat, dents early rate hike hopes The Bank of Japan kept its policy settings unchanged on Tuesday, wrapping up the final round of policy decisions of the year by major central banks. Despite some speculation of a policy shift [..]

Technical Analysis – EURUSD needs extra boost in 2024 to surprise

Posted on December 18, 2023 at 2:03 pm GMT

EURUSD stays in neutral trajectory Technical signals show some weakness As the year is concluding, EURUSD is somewhat higher compared to the start of 2023. The pair is currently in a consolidation phase, bounded by the 200-week simple moving average (SMA) at approximately 1.1150 as the upper limit, after briefly surpassing it in July, and the lower limit being the ten-month low of 1.0450. The weekly oscillators indicate a decrease in upward momentum. The RSI has shifted downwards although still [..]

Weekly Technical Outlook – EURUSD, GBPUSD, Gold

Posted on December 18, 2023 at 10:26 am GMT

EURUSD’s 2023 performance looks muted GBPUSD tries to resume its uptrend in 2024 Gold shines in 2023 EURUSD: Euro faces another challenging year The dollar was under pressure at the start of the year due to expectations of a dovish Federal Reserve. However, those dismal predictions have not come true, and the dollar is anticipated to finish the year unchanged. Despite the near certainty of a Fed rate drop, EURUSD bulls may struggle to draw a higher trajectory. In 2023, [..]

Market Comment – Fed pushes back on rate cut talk but markets don’t listen

Posted on December 18, 2023 at 10:00 am GMT

Fed officials attempt to dampen expectations of early rate cut Yields jump, stocks slide, but only temporarily as markets unconvinced Yen edges lower ahead of BoJ decision as expectations of imminent rate hike fade Fed begins damage control Federal Reserve officials have hit the speaking circuit for the first time since Chair Powell’s dovish appearance in his post-FOMC meeting press briefing last week, in what looked to be an attempt to steer markets away from aggressive rate cut expectations. New [..]

Market Comment – Euro and pound surge as ECB and BoE diverge from dovish Fed

Posted on December 15, 2023 at 10:21 am GMT

ECB and BoE stick to hawkish stance as Fed becomes dovish outlier Euro and pound skyrocket before paring gains on weak PMIs Upbeat US data fail to deter dollar bears as yields continue to slide, stocks party No rate cut talk at the ECB and BoE Central banks in Britain and the euro area diverged from their US counterpart on Thursday, sidestepping any talk about rate cuts while reiterating the need to maintain higher rates for longer. The European Central [..]

Market Comment – Wall Street parties as Fed signals cuts, dollar tumbles

Posted on December 14, 2023 at 10:30 am GMT

Fed makes long-awaited pivot towards cutting rates, markets rejoice Dow Jones soars to new all-time high, S&P 500 approaches its previous record Dollar takes a dive as Treasury yields sink, gold rallies SNB also holds rates, ECB and BoE decisions coming up next Powell gives markets what they wanted The Federal Reserve left interest rates unchanged as expected on Wednesday but struck a somewhat more dovish tone than anticipated, spurring a powerful rally in bond and equity markets. In a [..]

Technical Analysis – EURUSD gains in the FOMC aftermath

Posted on December 14, 2023 at 8:39 am GMT

EURUSD reclaims 200-day SMA following dovish Fed signals ECB meeting later today could spur some volatility Momentum indicators are skewed to the positive side EURUSD had been experiencing a solid downside correction from its recent three-month peak of 1.1016, which ceased just shy of the 50-day simple moving average (SMA). In the past few sessions though, the pair has been regaining some ground, with the rebound accelerating on the back of the dovish FOMC meeting. Considering that both the RSI and stochastics [..]

Market Comment – Fed awaited as stocks jump, dollar slips after US CPI

Posted on December 13, 2023 at 10:02 am GMT

Dollar pressured from in-line CPI report as stocks extend rally But Fed rate cut expectations pared back slightly ahead of new Fed dot plot Fed to kickstart central bank bonanza Markets upbeat after CPI report as all eyes turn to Fed The Federal Reserve will kick off the barrage of central meetings on Wednesday as policymakers set interest rates for the final time in 2023. The European Central Bank, Bank of England and Swiss National Bank will announce their decisions [..]

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