All Articles Tagged - EURUSD

Eurozone growth expected to stagnate, can the euro hold on? – Preview

Posted on October 30, 2023 at 3:24 pm GMT

Eurozone economy likely stagnated or contracted in third quarter Euro has been under selling pressure and could remain heavy Growth and inflation data will be released at 10:00 GMT Tuesday Flirting with recession The Eurozone economy has struggled this year, as consumers have been squeezed by rising mortgage costs and elevated energy prices. Economic growth in the second quarter slowed to just 0.5% on a yearly basis, and business surveys warn that the situation will probably get worse, putting the [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on October 30, 2023 at 1:25 pm GMT

Fed to stick to stable rates; will EURUSD rotate higher? GBPUSD at a discouraging position ahead of BoE rate announcement USDJPY not bearish yet as clock ticks down to BoJ rate decision FOMC policy meeting –> EURUSD The Federal Reserve’s two-day policy meeting ends on Wednesday at 18:00 GMT, as worries about the Middle East and its effect on the global economy rise. Interest rates are expected to remain steady for another month, but it’s unclear if there are [..]

Market Comment – Gold eases from highs as markets stay calm despite Gaza offensive

Posted on October 30, 2023 at 9:57 am GMT

Gold hits $2,000 as Israel begins ‘second stage’ of war in Gaza, oil jumps too But safe haven demand eases on Monday as focus turns to central banks Dollar slips below 150 yen as yields consolidate ahead of Treasury announcement Markets on edge but no panic as Gaza conflict escalates Israel’s long-expected ground offensive into the Gaza Strip got underway over the weekend, raising the stakes in an ever-escalating conflict that is looking increasingly like it’s turning into a long-drawn-out [..]

Technical Analysis – EURUSD remains supported within channel

Posted on October 27, 2023 at 1:27 pm GMT

EURUSD has been switching between gains and losses around the lower band of a short-term bullish channel at 1.0540. The US core PCE inflation came as expected at 3.7% y/y on Friday, but personal spending clocked in slightly higher than analysts anticipated at 0.7%m/m, providing some support to the dollar. The technical signals are not encouraging, with the RSI falling back below its 50 neutral mark and the MACD changing direction back to the downside to meet its red signal line. Still, [..]

Will Fed officials reiterate their ‘higher for longer’ mantra? – Preview

Posted on October 27, 2023 at 12:12 pm GMT

Policymakers argue surge in yields counts as hike US economy continues to fire on all cylinders Fed to stand pat, but may deliver a hawkish message Decision on Wednesday at 18:00 GMT; press conference at 18:30 GMT Yields do the work for the Fed Although at their last gathering Fed policymakers maintained their projections of one more hike before the end credits of this tightening cycle roll, they have been appearing in dovish suits recently, signaling that the surge in [..]

Week Ahead – Will BoJ steal the limelight from Fed and BoE?

Posted on October 27, 2023 at 10:41 am GMT

Central bank meetings continue in earnest with BoJ, Fed and BoE Fed and BoE to likely stand pat, but BoJ might tweak policy again NFP report and Eurozone flash GDP and CPI data also in focus Fed pause likely to be of little relief for yields Just a few weeks ago the November FOMC meeting was seen as a live one, but expectations of a rate hike have evaporated in the run up to Wednesday’s decision. The latest commentary from [..]

Market Comment – Gold stands tall, stocks keep sinking despite solid US data

Posted on October 27, 2023 at 8:57 am GMT

Upside surprise in US GDP was not enough to boost the dollar Stock markets slide in the aftermath, euro little changed after ECB Gold advances, drawing fuel from yields and geopolitical escalation Dollar unable to gain on solid data Another stormy week for global markets comes to an end as investors continue to grapple with a range of risk factors, from a lukewarm earnings season to the heightened volatility in bond markets to the unfolding geopolitical crisis. On the bright [..]

Market Comment – Dollar climbs above 150 yen as Treasury yields rebound

Posted on October 26, 2023 at 8:18 am GMT

Treasury yields rebound, lift the dollar ahead of US GDP data Dollar/yen rises past 150, rings intervention alarm bells ECB to take the sidelines, focus to fall on forward guidance Wall Street tumbles as Alphabet disappoints Will US GDP data add more fuel to the dollar’s engines? The US dollar extended its gains as US Treasury yields rebounded, with the 10-year benchmark rate resuming a move towards the psychological zone of 5.0%, briefly breached on Monday. Yet, Fed funds futures [..]

Technical Analysis – EURUSD gives up gains but not bearish yet

Posted on October 26, 2023 at 8:04 am GMT

EURUSD switches back to losses after touching resistance Technical signals weaken but bears not in control yet EURUSD was harshly pressured after touching its 50-day exponential moving average (EMA), erasing almost all the gains it made last week ahead of the ECB policy announcement. The price went below its 20-day EMA, and the RSI dropped below 50, causing concerns of potential market dominance by sellers in the short-term. On a positive note, there is a short-term bullish channel in the chart that is [..]

Market Comment – Better-than-expected US PMIs help the dollar rebound

Posted on October 25, 2023 at 8:13 am GMT

PMIs suggest the US economy entered Q4 on solid footing The divergence between US/Eurozone outlooks weighs on euro/dollar Aussie rallies on stickier inflation, yen pinned near 150-per-dollar mark Wall Street pays attention to corporate earnings Euro/dollar slides from near key resistance on PMI data Although the 10-year US Treasury yield held steady comfortably below the psychological zone of 5%, the US dollar was able to stage a comeback against most of its major counterparts as the flash US PMIs for [..]

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