All Articles Tagged - EURUSD

Technical Analysis – EURUSD gets assistance after rejection from 200-EMA

Posted on November 9, 2023 at 8:14 am GMT

EURUSD decelerates below 200-EMA resistance Positive structure remains intact above 1.0600 EURUSD could not carry last week’s impressive rally above its 200-day exponential moving average (EMA), but the 50-day EMA helped the pair to hold within the 1.0700 zone and above its previous high. The market structure is positive in the short-term picture as the pair keeps fluctuating within a bullish channel. Hence, even if downside pressures resume, the pair will remain attractive unless it exits the bullish formation below [..]

Could surprise indices explain market movements? – Special Report

Posted on November 7, 2023 at 1:23 pm GMT

Surprise indices are an easy way of mapping the current state of an economy Our index confirms that the US economy has been losing steam the past few weeks Could EURUSD moves be explained by our surprise indices? Theory states that the price of financial assets should reflect the underlying economic conditions in the respective region. While this tends to occur from a long-term perspective, a good chunk of the movements occurring in the short-term are dictated by sentiment and [..]

Market Comment – Gold slides, dollar regains strength as yields storm back

Posted on November 7, 2023 at 9:37 am GMT

Dollar regains some lost ground as US yields bounce back Gold and oil edge lower – geopolitical risks getting priced out? Aussie sinks despite RBA rate increase, Fed speakers ahead Dollar back in the ring Global markets continue to grapple with a variety of risk factors, from geopolitical tensions to a softer economic data pulse, although the most pressing question for traders is whether yields on government bonds have peaked for this cycle. Yields are essentially the price of money, [..]

Market Comment – Dollar gets crushed after nonfarm payrolls miss

Posted on November 6, 2023 at 9:36 am GMT

Dollar pummeled after disappointing US employment data Stock markets rally, but gold fails to capitalize on falling yields Australian interest rate decision and Chinese trade data next Dollar hammered after NFP A disappointing US employment report inflicted some serious damage on the dollar last week. Nonfarm payrolls clocked in at 150k in October, missing the forecast of 180k, while the unemployment rate ticked higher and wage growth continued to cool off. Hence, the US labor market has started to loosen [..]

Market Comment – Investors lock gaze on US NFP data

Posted on November 3, 2023 at 9:00 am GMT

Dollar slides as Fed pours more cold water on hike expectations Spotlight turns to US employment report for October Pound receives little boost from BoE’s hawkish hold Wall Street cheers potential interest rate peak, earnings help Dollar on the back foot ahead of NFP report The US dollar traded lower against all the other major currencies on Thursday, weighed down by the Fed’s decision on Wednesday to keep interest rates untouched, while pouring more cold water on expectations of one [..]

Market Comment – Stocks rally, yields slump as Powell strikes neutral tone

Posted on November 2, 2023 at 10:06 am GMT

Powell signals Fed is likely done hiking rates, sparking relief rally Wall Street cheers Powell’s balanced tone, but dollar stays resilient as yields tumble Pound steady ahead of Bank of England decision Fed asks “should we hike more” The Federal Reserve left interest rates unchanged on Wednesday as expected, citing tighter financial conditions as a factor for pausing for a second straight meeting. With the rout in bond markets worsening since the previous FOMC meeting in September, the yield on [..]

Dollar braces for another round of nonfarm payrolls – Preview

Posted on November 1, 2023 at 9:42 am GMT

US employment growth expected to slow down in October Dollar retreats ahead of the event but outlook remains bright Nonfarm payrolls to be released at 12:30 GMT Friday US outperforms It’s been a strong year for the United States. Despite a sharp slowdown in manufacturing and sky-high interest rates limiting access to credit, the US economy accelerated over the summer, with GDP growth clocking in at an annualized pace of 4.9% in the third quarter. Heavy government spending has [..]

Technical Analysis – EURUSD gets rejected from near 1.0665

Posted on October 31, 2023 at 3:38 pm GMT

EURUSD bears jump into the action from near 1.0665 again Short-term oscillators point to no clear directional momentum But as long as the pair remains below 1.0665, the slide could continue EURUSD traded higher on Tuesday, extending Monday’s recovery, but the advance was stopped again near the key resistance territory of 1.0665, slightly above the 50-day exponential moving average (EMA), with the price now trading below its opening level. As long as EURUSD remains below the key barrier of 1.0665, [..]

Market Comment – Yen defies BoJ, tumbles after tweak to yield policy

Posted on October 31, 2023 at 10:19 am GMT

Bank of Japan adjusts yield curve control policy again, but yen skids Yields edge lower after Treasury Department says will borrow less in Q4 Dollar mixed, euro extends gains, stocks perk up Yen not impressed by BoJ’s incremental move The Bank of Japan took another step towards policy normalization on Tuesday, tweaking its yield curve control policy (YCC) for the second time this year amid signs of broadening inflationary pressures. As expected, the Bank upped its inflation forecasts for the [..]

Technical Analysis – EURUSD restores bullish bias after reclaiming uptrend line

Posted on October 30, 2023 at 3:56 pm GMT

EURUSD bounces higher as positive bias gains traction Price climbs above moving averages and ascending trendline But how convincing is this rebound? EURUSD is marching higher, pushing above its simple moving averages (SMA), but more importantly, the price action has moved back above the short-term ascending trendline. The momentum indicators are strongly bullish with the stochastic oscillator plotting higher, while the MACD has just crossed above the zero threshold. Both are positively aligned with their moving averages, although the former [..]

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