All Articles Tagged - EURUSD

Market Comment – Dollar bounces back, stocks slip after US CPI beat

Posted on October 13, 2023 at 9:10 am GMT

Stronger-than-expected US CPI data revives rate hike bets Dollar re-energised, heads for weekly gains as yields jumps Stocks come under pressure, but selloff limited ahead of Q3 earnings Dovish Fed bets dented by CPI surprise Markets whipsawed on Thursday after the US consumer price index rose more than expected in September, dashing hopes that the Fed is done hiking rates. The CPI measure of inflation edged up 0.4% month-on-month, beating forecasts of a 0.3% increase, while the annual figure was [..]

Technical Analysis – EURUSD takes a breather before new battle

Posted on October 11, 2023 at 7:51 am GMT

EURUSD eases bullish tone near major obstacle Holds within bearish channel ahead of FOMC minutes Bulls need to drive above 1.0760 to brighten outlook EURUSD has been muted around the 1.0600 level during the early European trading hours on Wednesday after five consecutive bullish days. The pair is having a positive week, but the 20-day SMA has been a struggle. The upper boundary of the bearish channel could be a bigger threat at 1.0640, close to the 23.6% Fibonacci [..]

Market Comment – Yields slide as Fed tones down hawkish talk, stocks shrug off ME flareup

Posted on October 10, 2023 at 9:31 am GMT

Higher yields prompt a rethink at the Fed as policymakers turn cautious But less hawkish tone pushes yields lower, boosting equities Ongoing tensions in Middle East further pressure yields, keep gold supported Oil slips slightly while dollar braces for more Fed speak, CPI data Fed has second thoughts about additional tightening As markets wait anxiously to see how far the latest conflict between Israel and Hamas will escalate, Fed policymakers provided some soothing words to jittery investors already caught wrong [..]

Technical Analysis – EURUSD could challenge bearish channel

Posted on October 9, 2023 at 3:46 pm GMT

EURUSD consolidates recent gains within bearish channel There is potential for more upside, but a close above 1.0640 required EURUSD opened with a slight negative gap at 1.0549 on Monday due to the unexpected war situation in Israel, staying below the 20-day exponential moving average (EMA) and the 1.0600 level. After eleven weeks of decline, the pair saw slight gains last week, fueling optimism for a potential bull market. The RSI and the stochastic oscillator have clearly bounced off their [..]

Mighty dollar turns to US inflation data and Fed minutes – Preview

Posted on October 9, 2023 at 11:33 am GMT

Dollar stabilizes ahead of FOMC minutes and US inflation report Inflation expected to cool further – is the Fed done raising rates? Minutes due at 18:00 GMT Wednesday, inflation 12:30 GMT Thursday Dollar sizzles The US economy continues to display impressive resilience. Economic growth accelerated over the summer and is projected to have reached an annualized 4.9% in the third quarter according to the Atlanta Fed GDPNow model, as consumers continue to spend and the labor market remains in great [..]

Market Comment – Oil jumps, safe havens gain as war erupts in Middle East

Posted on October 9, 2023 at 9:28 am GMT

Israel-Hamas war pushes up oil prices amid risk of wider conflict Dollar, yen and gold rise too as investors rush to safety Fed rate hike odds reverse NFP boost; US CPI, Fed speakers eyed next Middle East violence sparks turmoil Markets woke up to the worst flare-up of violence between Israel and Palestine in 50 years on Monday after Hamas launched surprise missile attacks into Israeli territory over the weekend. Oil futures initially shot up more than 5% as fears [..]

Technical Analysis – EURUSD swings higher as US jobs data loom

Posted on October 6, 2023 at 11:02 am GMT

EURUSD stages another bull run within bearish channel Bulls need to push above 200-EMA to gain control EURUSD has been moving in an upward path since pausing its downtrend at a ten-month low of 1.0447 and at the lower boundary of the two-month-old bearish channel. In the four-hour chart, the pair is looking for a clear close above its 50-period exponential moving average (EMA), which the bulls have been struggling to successfully surpass over the past months. The RSI keeps making new higher highs above [..]

Week Ahead – US inflation and Fed minutes to test dollar, bond markets

Posted on October 6, 2023 at 10:10 am GMT

US CPI report and Fed minutes to take centre stage Will they fuel or dent the rally in yields and the dollar? Chinese inflation and UK growth data to also be eyed Otherwise, a quieter week awaits with Monday a holiday in the US US headline CPI could rise again As speculation about whether or not the Fed will hike one more time goes into overdrive, the latest report on the US consumer price index will be the big [..]

Market Comment – Nonfarm payrolls to test the dollar’s winning streak

Posted on October 6, 2023 at 8:57 am GMT

Nonfarm payrolls coming up, forecasts point to a solid report Dollar winning streak set to extend to 12 weeks if data is solid Gold stabilizes as yields calm down, but oil prices crash Nervous markets brace for nonfarm payrolls A fragile sense of calm has returned to global markets ahead of the latest round of US employment data. After reaching their highest levels since the financial crisis this week, US Treasury yields have stabilized somewhat, waiting for nonfarm payrolls as [..]

Dollar traders lock gaze on US nonfarm payrolls – Preview

Posted on October 3, 2023 at 9:05 am GMT

US performs better than other major economies After higher Fed rate projections, focus turns to US jobs data A still-tight labor market could further lift the dollar The data is coming out on Friday, at 12:30 GMT Hawkish Fed turbocharges the dollar With the US economy proving more resilient than other major ones and inflation rebounding on the back of rallying oil prices, the Fed raised its rate-path projections at its latest gathering, although it did not press the hike [..]

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