All Articles Tagged - EURUSD

Has the dollar rally run its course? – Special Report

Posted on November 17, 2023 at 11:24 am GMT

Dollar slides as investors pencil in 100bps worth of Fed rate cuts US economy is expected to slow, but still fare better than its major peers Fed likely to begin rate reductions next year, but ECB may cut earlier Aussie the most likely candidate to outperform the greenback Jobs and inflation data hurt the dollar The US dollar suffered a major blow this week after the US CPI data revealed that inflation cooled by more than anticipated in October, adding [..]

Market Comment – Rate cut bets intensify as oil plunges, but Wall Street wobbles

Posted on November 17, 2023 at 10:15 am GMT

Markets think the Fed is done after US data misses Selloff in crude oil further fuels rate cut bets amid supply glut fears But dollar seesaws while earnings caution weighs on stocks Fed expected to cut by 100bps in 2024 Fed tightening expectations suffered a further blow on Thursday after some weak data releases in the United States put the final nail in the coffin on the likelihood of another rate increase. More importantly, investors ratcheted up their bets of [..]

Technical Analysis – EURUSD aims for a bullish continuation

Posted on November 16, 2023 at 3:19 pm GMT

EURUSD recoups Thursday’s losses after disappointing US data A break above 1.0880 needed to confirm bullish signs EURUSD turned green after the miss in the US weekly jobless claims and weaker job stats in the Philadelphia Fed manufacturing survey. The pair ran as high as 1.0880, erasing Wednesday’s pullback. In terms of market trend, the pair seems to have completed a bullish flag formation in the four-hour chart, which is theoretically a sign that the upward trend will continue. In [..]

Technical Analysis – EURUSD pauses its aggressive bullish run

Posted on November 16, 2023 at 12:27 pm GMT

EURUSD remains above 1.0800 and the 200-day SMA Rally takes a break, confirmed by RSI and stochastics A jump above 1.0945 could be a sign for more gains EURUSD is trying to recoup yesterday’s losses with the bulls taking the upper hand again. The pair is still holding well above the 200-day simple moving average (SMA), indicating that the bullish rally may continue in the next few sessions. The RSI is near its 70 mark, although weaker, and the MACD [..]

Market Comment – Dollar claws back some losses as relief rally fades

Posted on November 16, 2023 at 10:11 am GMT

Fed rate cut bets scaled back after upbeat US data Wall Street rally loses steam, dollar edges up as yields rebound Global growth worries and disappointing US-China summit also dent mood Post-CPI euphoria fizzles out Equities were muted while the greenback was broadly firmer on Thursday as the relief rally on the back of this week’s cooler-than-expected US CPI readings lost steam following some not-so-soft data yesterday. Treasury yields regained their footing to bounce higher from the CPI-led slump as [..]

Technical Analysis – EURUSD eases after sharp rally towards 2½-month high

Posted on November 15, 2023 at 8:18 am GMT

EURUSD adds 200 pips and tries to reach 1.0900 Trades well above moving average lines RSI suggests negative correction EURUSD skyrocketed yesterday after the US CPI release and added almost 200 pips, recording a new two-and-a-half-month high of 1.0886, but its rally seems to have temporarily paused. Approaching the 1.0900 area, it seems to be a real struggle to surpass this round number according to the RSI. The RSI is losing momentum after it touched the overbought region; however, the [..]

Weekly Technical Outlook – EURUSD, GBPUSD, AUDUSD

Posted on November 13, 2023 at 11:09 am GMT

EURUSD stays above key barrier of 1.0665 ahead of US CPIs Hotter-than-expected UK inflation could push GBPUSD above 1.2310 AUDUSD awaits Australia’s jobs report and Chinese data US CPI data -> EUR/USD The US CPI data comes out on Tuesday and expectations are for the headline rate to have declined to 3.3% y/y from 3.7%, while the core rate is expected to have remained close to September’s 4.1%. That said, considering that the PMIs for October suggested softer price pressures, [..]

Technical Analysis – EURUSD corrects lower within bullish channel

Posted on November 10, 2023 at 11:58 am GMT

EURUSD halts decline near 50-EMA, within bullish channel Remains a relatively attractive pair above 1.0600 EURUSD slipped back below the key 1.0680 restricting zone, raising worries that the pullback from the 200-day exponential moving average (EMA) could gain more legs. The 50-day EMA, which was a former resistance, could play a key role in sustaining confidence in the short-term upward pattern at 1.0655. Nevertheless, any additional declines could remain attractive to traders unless the price exits the short-term bullish channel [..]

Market Comment – Fed chief interrupts stock market rally, lifts dollar

Posted on November 10, 2023 at 10:03 am GMT

Fed chief Powell says ‘won’t hesitate’ to tighten further Dollar extends recovery as US yields rise, pushing equities down Gold gains despite unfavorable setup – central bank purchases? Dollar gets a boost by hawkish Powell Federal Reserve officials have been out in droves this week, highlighting the extraordinary strength of the US economy and stressing that interest rates might need to be raised further to bring inflation back under control. It appeared like a coordinated attempt by policymakers to steer [..]

Will US CPI alter the Fed’s rate path? – Preview

Posted on November 9, 2023 at 11:54 am GMT

US CPI inflation expected to pull lower in October Is the Fed’s tightening strategy working? Dataset to be released on Tuesday at 13:30 GMT Inflation remains a priority The US dollar fell by 1% against six major currencies after traders saw a slowdown in hirings and concluded that the Fed won’t raise rates again. At the same time, a group of investors became more confident that signs of economic weakness might motivate rate cut talks in 2024, although the Fed chief, Jay Powell, kept that scenario out [..]

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