All Articles Tagged - EURUSD

Week Ahead – US core PCE and Eurozone flash CPIs eyed after rate pause signals

Posted on September 22, 2023 at 10:17 am GMT

PCE inflation to grab attention on Friday as Fed signals higher for longer But markets might be more worried about a government shutdown Eurozone flash CPIs will also be the in the spotlight on Friday Chinese PMIs to be watched for recovery signs Will core PCE add to second inflation wave worries? The latest spike in oil prices is causing some headaches for policymakers as energy costs are on the rise again just as they’ve started to see the result [..]

Market Comment – Stocks roll over as US yields climb to new highs

Posted on September 22, 2023 at 8:56 am GMT

Mayhem in US bond market spills over into stocks Dollar struggles to advance despite soaring yields Sterling sinks on BoE decision, yen retreats after BoJ US yields leap higher The storm in US bond markets has evolved into a hurricane, inflicting deep wounds on riskier assets such as stocks. Yields on US government bonds have gone ballistic, with the yield on ten-year notes hitting a fresh cycle high of 4.50% earlier today. When yields climb with such force, it has [..]

Market Comment – Hawkish Fed boosts the dollar, BoE and BoJ next

Posted on September 21, 2023 at 9:07 am GMT

Fed revises rate path higher, lifting dollar and yields Stock markets and gold move lower in the aftermath BoE decision today a coin toss, BoJ unlikely to move Fed commits to higher for longer The Federal Reserve kept interest rates unchanged yesterday, as widely expected, but revised its economic forecasts and interest rate projections higher. Reflecting the recent flow of resilient US data releases, the Fed raised its economic growth estimates for 2023 and 2024, softly signaling that the risk [..]

Will the Eurozone PMIs validate ECB cut bets? – Preview

Posted on September 20, 2023 at 2:10 pm GMT

Investors see rate cuts by the ECB, despite post-meeting hawkish rhetoric Eurozone prel. PMIs the next piece of information that could shake those bets Euro could slide if the PMIs disappoint when released on Friday, at 08:00 GMT After ECB meeting, the market sees rate cuts for next year Last week, the ECB decided to raise interest rates by 25bps, taking the deposit facility rate to a record high of 4%. However, with the latest data pointing to a severely [..]

Technical Analysis – EURUSD edges higher; its next leg depends on the Fed meeting

Posted on September 20, 2023 at 2:01 pm GMT

EURUSD is edging higher today as market participants prepare for today’s event It tested the May 31 low but now appears to be heading towards the 1.0720 level SMAs’ convergence is potentially opening the door to an imminent strong move EURUSD is hovering below the busy 1.0720-1.0727 area as market participants are in waiting mode ahead of today’s significant Fed meeting. Its outcome and the tone of the accompanying press conference could play a crucial role in determining the next [..]

Technical Analysis – EURUSD edges higher, all eyes on the Fed meeting

Posted on September 20, 2023 at 7:14 am GMT

EURUSD continues to exhibit low volatility ahead of today’s Fed meeting It tested the May 31 low and bounced higher but remains below the 1.0720 level Bearish sentiment lingers but the SMAs’ convergence points to an imminent strong move EURUSD is hovering below the 1.0720-1.0727 area as market participants are preparing for today’s significant Fed meeting. Its outcome and the overall tone of the accompanying press conference could determine the next leg in EURUSD. The bears are still in control [..]

Market Comment – Euro gains on ECB remarks; dollar awaits Fed decision

Posted on September 19, 2023 at 8:12 am GMT

Euro rebounds as ECB officials do not rule out another hike Dollar trades cautiously as Fed policy decision looms Wall Street nearly unchanged, gold extends gains ECB policymakers push back on market bets The euro extended its recovery against its US counterpart on Monday, bolstered by more relatively hawkish ECB rhetoric. Just a day after the ECB’s decision was interpreted as hinting at the end of this tightening crusade, several policymakers, including President Lagarde, appeared in their hawkish suits, noting [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on September 18, 2023 at 10:11 am GMT

EURUSD hovers near key 1.0665 ahead of Fed decision A dovish BoE could trigger reversal confirmation in GBPUSD BoJ to stand pat; may help USDJPY extend its uptrend Fed rate decision -> EUR/USD The Fed is expected to stand pat on Wednesday, with the markets seeing only a 40% probability of another hike before this tightening campaign ends and around 80bps worth of rate cuts for next year. Thus, all the attention is likely to fall on the updated economic [..]

Market Comment – Oil prices keep rising despite stock market turmoil

Posted on September 18, 2023 at 9:02 am GMT

Oil prices continue to rise as tight supply kicks in Rising bond yields put pressure on equity markets Dollar rally takes a breather, helping to boost gold Soaring oil prices spell trouble for euro and yen A pivotal week for global markets kicks off with another sharp spike in oil prices. The non-stop rally has seen WTI crude prices rise more than 30% this quarter, driven by a classic supply shortage after Saudi Arabia and Russia decided to curtail their [..]

Week Ahead – Fed, BoE, and BoJ meetings to fuel FX volatility

Posted on September 15, 2023 at 11:18 am GMT

Central bank decisions in United States, United Kingdom, Japan, and Switzerland Fed almost certain to hit pause, markets will focus on updated rate projections More scope for surprises from Bank of England and Swiss National Bank instead Fed – mind the dots The central bank bonanza will kick off with the Fed on Wednesday. Markets are pricing in almost no chance of a rate increase, following several remarks from FOCM officials calling for patience and more time to examine [..]

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