All Articles Tagged - EURUSD

Will US GDP stats exceed forecasts? – Preview

Posted on October 24, 2023 at 2:00 pm GMT

Dollar takes a step back ahead of quarterly US GDP data Risks seem tilted towards stronger-than-expected report GDP release is scheduled for 12:30 GMT on Thursday US economy outperforms It’s been a solid year for the American economy, which has performed well even in the face of sky-high interest rates. Economic growth seems to have accelerated over the summer as consumers continued to spend, supported by a labor market that remains exceptionally strong. Another factor behind this resilience has been [..]

Market Comment – Dollar retreats, stocks stabilize as yields fall back

Posted on October 24, 2023 at 8:53 am GMT

Dollar follows US yields lower after rejection from 5% region But gold and yen cannot take advantage of this correction Euro rebound cut short by disappointing business surveys Retreat in yields slams dollar Global markets breathed a sigh of relief yesterday, as the furious rally in US yields finally lost some steam. The yield on the 10-year Treasury briefly topped the 5.0% region – sending shivers down the spine of riskier assets such as equities – but got rejected and [..]

Weekly Technical Outlook – EURUSD, USDJPY, USDCAD

Posted on October 23, 2023 at 1:10 pm GMT

EUR/USD in neutral zone ahead of ECB policy announcement USD/CAD needs more upside as BoC rate decision looms USDJPY at a critical resistance territory; bunch of US data due ECB policy meeting –> EUR/USD EURUSD is stuck in a sideways trend above its 10-month low, but there is hope for a bullish reversal as the European Central Bank comes into public’s attention this week. Policymakers will gather in Athens on their annual getaway from Frankfurt to decide on interest rates [..]

Market Comment – Stocks suffer collateral damage as yields blast higher

Posted on October 23, 2023 at 9:01 am GMT

Stock markets get kneecapped by relentless rally in US yields Gold and oil prices lose steam amid lack of geopolitical escalation Euro/dollar stable ahead of key events, yen ignores BoJ reports Stocks get bruised The shockwaves from the seismic rally in US bond yields have started to cause tremors in the stock market. Shares on Wall Street fell sharply last week as a mixture of geopolitical concerns and the meteoric rise in US yields dampened risk appetite, sending investors scrambling [..]

Week Ahead – ECB meeting and US GDP to shake FX markets

Posted on October 20, 2023 at 11:06 am GMT

Central bank decisions in Eurozone and Canada coming up But FX traders will likely focus more on the US GDP report Is the dollar set to realign with its superior fundamentals? Dollar turns to GDP stats for fuel The US economic machine continues to fire on all cylinders. Shielded by the government’s enormous deficit spending and the slow transmission of high interest rates because of fixed-rate mortgages, the United States has defied expectations of an economic slowdown and instead enjoyed [..]

Will Eurozone PMIs corroborate speculation of ECB rate cuts in 2024? – Preview

Posted on October 18, 2023 at 10:04 am GMT

Data since the last ECB meeting continue to point to a wounded Eurozone Investors see no more rate hikes and anticipate a series of cuts in 2024 How will Tuesday’s preliminary PMIs (08:00 GMT) affect those bets and the euro? Was ECB’s September hike the last one? At its September meeting, the European Central Bank (ECB) decided to raise interest rates by another 25bps, lifting the deposit facility rate to a record high of 4%. Nonetheless, with data heading into [..]

Technical Analysis – EURUSD strives again for bullish channel breakout

Posted on October 17, 2023 at 3:25 pm GMT

EURUSD bounces up, tests bullish channel The way above 1.0600 may not be easy EURUSD is re-examining its bullish capabilities after bouncing off the 1.0500 round level on Monday, postponing a return to its recent 10-month low of 1.0447. The price pivoted higher with scope to close above the 20-day exponential moving average (EMA) and the bullish channel at 1.0600, which canceled recovery attempts last week. Although the technical indicators are showing signs of improvement, the RSI has yet to cross [..]

Market Comment – Equities gain, gold slips amid diplomatic push to contain Mideast crisis

Posted on October 17, 2023 at 9:07 am GMT

Risk aversion eases as diplomatic efforts to end Israel-Gaza war ramped up Gold off highs, while earnings optimism additionally boosts Wall Street Dollar steady as yields resume climb ahead of US retail sales, Fed speakers Mood improves on diplomacy hopes Risk sentiment was notably more buoyant on Tuesday as fears about the unfolding situation in Israel and Gaza developing into a wider conflict ebbed somewhat. A rush of diplomacy by global leaders to defuse the crisis appears to have soothed [..]

Dollar to seek direction from US retail sales as yield rally stalls – Preview

Posted on October 16, 2023 at 1:06 pm GMT

Retail sales in America likely grew at a more moderate pace in September Will the data support a Fed pause in November? Or will it fuel the rally in yields and the dollar when it’s out on Tuesday (12:30 GMT) Is consumer spending starting to cool? The US economy has been chugging along quite nicely in 2023 despite hitting several bumps on the road and Fed policy becoming more restrictive than what many investors had anticipated at the start of [..]

Technical Analysis – EURUSD gets rejected at descending trendline

Posted on October 16, 2023 at 8:16 am GMT

EURUSD stuck in a clear downward path, seems unable to recover Latest rebound encounters strong resistance at key trendline Momentum indicators endorse a resumption of the downtrend EURUSD has been in a steady retreat after peaking at the 18-month high of 1.1275, generating a series of lower highs and lower lows. Although the pair managed to find its feet at the 10-month bottom of 1.0447, its recovery faltered after hitting the descending trendline that connects its recent lower highs. Should the bears [..]

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