All Articles Tagged - EURUSD

Market Comment – King dollar returns as US yields rip higher

Posted on October 3, 2023 at 8:32 am GMT

Dollar continues to rally, with help from rising yields Gold smashed lower, but stocks don’t get the memo Aussie hits 11-month low after RBA decision, RBNZ next Dollar shines bright King dollar has returned to rule over FX markets. The world’s reserve currency has staged a phenomenal rally in recent months, empowered by the stunning rise in US yields, solid economic fundamentals, safe haven flows, and the absence of any attractive alternatives. The dollar rally kicked into higher gear yesterday [..]

Market Comment – Gold sinks amid stronger dollar and rising yields

Posted on October 2, 2023 at 8:49 am GMT

Gold prices fall further, pressured on multiple fronts Yen loses ground after Bank of Japan intervenes in bond market Dollar stable ahead of some key data and Fed chief Powell Gold realigns with fundamentals The final quarter of the year begins with familiar themes in global markets. A relentless rally in US bond yields driven by increased debt supply, renewed concerns about China’s economic health, and a sinking Japanese yen continue to dominate the agenda for traders. Gold absorbed significant [..]

Technical Analysis – EURUSD bounces off 8-month low; downtrend intact

Posted on October 2, 2023 at 8:13 am GMT

EURUSD stuck in a clear downward path, posting a fresh 8-month bottom of 1.0487 Formation of a death cross between 50- and 200-day SMAs could spell more trouble Despite latest rebound the momentum indicators remain skewed to the bearish side EURUSD has been in a steady retreat after peaking at the 18-month high of 1.1275 on July 18, generating a series of lower highs and lower lows. Even though the pair managed to find its feet at the eight-month bottom of 1.0487, [..]

Week Ahead – Dollar shines ahead of nonfarm payrolls

Posted on September 29, 2023 at 10:00 am GMT

Dollar cruises higher, nonfarm payrolls on Friday will be crucial for this rally Early indicators point to another solid month for the US labor market Central bank decisions in Australia and New Zealand will also be in focus Dollar goes on a rampage The US dollar rally has gone into overdrive lately. Empowered by a stunning rise in US yields, solid economic fundamentals, and safe haven flows, the dollar has charged higher to record 11 consecutive weeks of gains against [..]

Market Comment – Dollar pulls back, some relief for stocks after dreadful quarter

Posted on September 29, 2023 at 9:22 am GMT

US dollar eases from highs as bond yield rally pauses for breath Stocks headed for worst quarter in a year but techs lead rebound Eurozone and US inflation data in focus Fed speakers help take steam off yields rally Bond yields slipped on Friday as ‘higher for longer’ bets took a step back on the last trading day of the quarter ahead of some key inflation and consumer spending data out of the United States. Hawkish Fed talk post the [..]

Technical Analysis – EURUSD oversold near channel’s limits

Posted on September 26, 2023 at 11:53 am GMT

EURUSD meets key support area Oversold conditions are met, but threats remain Bulls need to drive above 1.0780 EURUSD traded sideways on the four-hour chart after Monday’s decline halted at the lower boundary of the two-month-old bearish channel. The pair remained resilient within the channel despite marking a new lower low at 1.0569 on Tuesday, boosting optimism that the bulls could soon take control of the market. The RSI and the Stochastic oscillators have bounced off their oversold levels, further [..]

Market Comment – Dollar at 10-month high as yields keep surging

Posted on September 26, 2023 at 9:07 am GMT

US 10-year yield hits 16-year high amid no letup in hawkish Fed rhetoric Dollar powers ahead, euro and pound crumble, yen in danger zone Stocks resume decline after late rebound on Wall Street Bond market rout deepens The selloff in bond markets is showing no sign of easing as investors are dumping government securities in favour of cash amid expectations that interest rates in the US may yet rise further. Despite the tightening cycle nearing its end, the hawkish drumbeat [..]

Could this week’s CPI prints diminish the chances of further ECB rate hikes? – Preview

Posted on September 26, 2023 at 9:04 am GMT

Inflation data in the spotlight as the market prices in rate cuts The ECB kept the door open to more rate hikes, but growth remains a big thorn German CPI due out on Thursday; the euro area aggregate on Friday (09:00 GMT) Has the ECB hiked for the last time? Contrary to the other key central banks, the ECB announced another rate hike at its September meeting. The statement and the accompanying press conference did not differ much from the [..]

Weekly Technical Outlook – USDJPY, EURUSD, AUDUSD

Posted on September 25, 2023 at 3:09 pm GMT

US inflation could ease; will USD/JPY extend uptrend above 150? Eurozone inflation to soften too; EUR/USD at a make-or-break point Australian inflation to reverse higher; AUD/USD looks for a rebound US core PCE inflation –> USD/JPY The Fed’s favorite core PCE inflation index is expected to ease significantly to a new two-year low of 3.9% y/y on Friday at 12:30 GMT, erasing July’s moderate pickup to 4.3% y/y. If this turns out to be the case, the news could sound music to [..]

Technical Analysis – EURUSD extends decline to a fresh 5-month low

Posted on September 25, 2023 at 7:57 am GMT

EURUSD in a clear downtrend, posting a fresh 5-month bottom of 1.0614 The descending 50-day SMA is approaching 200-day SMA, setting the stage for a death cross Momentum indicators are heavily skewed to the bearish side EURUSD has been in a steady decline after peaking at the 18-month high of 1.1275 on July 18, generating a series of lower highs and lower lows. Meanwhile, the pair dived to a fresh five-month low of 1.0614 before recovering some ground, while the short-term [..]

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