All Articles Tagged - EURUSD

Week Ahead – ECB poised to cut again, US CPI to get final say on size of Fed cut

Posted on September 6, 2024 at 11:25 am GMT

ECB is expected to ease again, but will it be another ‘hawkish cut’? US CPI report will be the last inflation update before September FOMC UK monthly data flurry begins with employment and GDP numbers ECB to cut rates for second time The European Central Bank’s carefully choreographed rate-cutting cycle got off to an awkward start in June after last-minute data upsets. For credibility’s sake, policymakers had only one choice – press ahead with the planned 25-basis-point rate reduction but [..]

Daily Comment – Investors lock gaze on NFP data

Posted on September 6, 2024 at 8:35 am GMT

Dollar slides as data offer little respite to concerned investors NFP to accelerate somewhat, but PMI surveys pose downside risks S&P 500 and Dow Jones end in red ahead of the job numbers Gold rebounds, approaches record high; oil stabilizes Data fail to alleviate investors’ worries The dollar traded lower against all of its major counterparts on Thursday as the boost received by the better-than-expected initial jobless claims and the improving ISM non-manufacturing PMI faded. The reason why traders were [..]

Technical Analysis – EURUSD bulls back into play

Posted on September 5, 2024 at 1:39 pm GMT

EURUSD bounces off 1.1030 Stochastics and RSI head north EURUSD has been advancing from the 1.1030 support level, surpassing the 20-day SMA and reaching the 1.1100 round number. The %K and %D lines of the stochastic oscillator have posted a bullish crossover in the oversold territory, while the RSI is pointing upwards above the 50 level. Should the pair manage to strengthen its positive momentum, the next resistance could come around the 13-month high of 1.1200. A break higher would shift the bias to a more [..]

Midweek Technical Look – EURUSD, US 500, oil

Posted on September 5, 2024 at 9:27 am GMT

EURUSD rebounded off 1.1030 ahead of NFP data US 500 looks flat after aggressive losses WTI crude oil heads slightly up from 8-month low [..]

Daily Comment – Equities weakness lingers as focus remains on US data

Posted on September 5, 2024 at 7:39 am GMT

Equities remain on the back foot as key US data on the menu today ADP, jobless claims and ISM Services could prove market moving Dollar’s mixed performance continues, yen benefits OPEC+ production rumours fail to push oil prices higher US data releases in the spotlight Equity markets continue to exhibit a rather unexpected fragility as second tier data like Wednesday’s JOLTs job openings resulted in another negative session in most stock indices around the globe. This market behaviour is a [..]

Stocks could suffer after the September Fed rate cut – Special Report

Posted on September 4, 2024 at 2:20 pm GMT

US labour market data to determine the size of the first Fed rate cut History points to an increased possibility of a 50bps move Analysis reveals sizeable equities’ weakness after the initial cut Following Fed Chairman Powell’s appearance at the Jackson Hole Symposium and this indirect announcement of the much-discussed Fed rate cut, the market is counting down to the September 18 meeting. This week’s labour market data could play a role in the size of this rate move with [..]

Will the NFP take a September double Fed cut off the table? – Preview

Posted on September 4, 2024 at 1:42 pm GMT

Fed fund futures suggest a 40% chance of a 50bps September cut Powell’s Jackson Hole speech adds importance to jobs data US employment report scheduled for Friday at 13:30 GMT Investors see increasing chance of 50bps cut The dollar had a rough time in August, underperforming against all its major counterparts as market participants remained convinced that the Fed will cut interest rates by around 105 basis points by the end of the year. This translates to a rate [..]

Volatility eases across the board ahead of key US data – Volatility Watch

Posted on September 3, 2024 at 9:46 am GMT

Euro/dollar volatility drops as market prepares for an action-packed week Volatility in commodities crashes to new lows apart from oil Stock indices and bitcoin experience much lower volatility Volatility in the main FX pairs, including euro/dollar, has eased in the past few days as the market is preparing for this week’s US labour market data releases that could play a key role in determining the size of the imminent rate cut by the Fed. Similarly, yen pairs are experiencing lower volatility as the [..]

Daily Comment – Dollar could suffer if the ISM survey disappoints

Posted on September 3, 2024 at 7:46 am GMT

Markets are preparing for an action-packed week The US dollar is on the front foot following the bank holiday Focus turns to the ISM manufacturing survey today Gold drops, oil recovers but outlook remains mixed Focus on US data releases With US participants returning from the extended bank holiday weekend, the focus today will firmly be on the US data calendar. Fed Chairman Powell highlighted the importance of labour market data at his recent Jackson Hole speech, and hence today’s [..]

Daily Comment – Dollar gains amid adjusted Fed rate cut bets

Posted on September 2, 2024 at 8:10 am GMT

PCE inflation holds steady, 50bps cut less likely Euro slips as Eurozone inflation drops to lowest in three years Wall Street gains on soft-landing hopes Traders scale back Fed rate cut bets as NFP week begins The US dollar finished last week on a strong footing, gaining against all its major counter parts on Friday, with market participants somewhat scaling back their Fed rate cut bets. The total number of basis points worth of reductions by the end of the [..]

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