All Articles Tagged - EURUSD

Technical Analysis – EURUSD pauses bearish correction near 1.1050

Posted on September 2, 2024 at 6:59 am GMT

EURUSD recoups some losses Finds support near 20-day SMA Stochastics and RSI point north EURUSD is recovering somewhat after three consecutive red days from its 13-month high of 1.1200. The price is flirting with the 20-day simple moving average (SMA) and the 1.1050 support level, while the technical oscillators are showing some improvement. The stochastic is trying to tick up in the oversold region, and the RSI is pointing marginally higher above the 50 level. If the market maintains its [..]

Daily Comment – Dollar edges up ahead of PCE inflation as stocks drift

Posted on August 30, 2024 at 9:10 am GMT

All eyes on US core PCE and consumption as bets for 50-bps cut stall Dollar headed for weekly gains but Nasdaq has disappointing week Euro on the backfoot as soft Eurozone CPI cements September cut Big Tech woes weigh on Wall Street The US dollar looks set to pare its monthly losses as it heads for its first weekly gain since mid-July amid more evidence that the US economy is humming along nicely. The same cannot be said for stocks [..]

Week Ahead – Investors brace for NFP amid Fed rate cut speculation

Posted on August 30, 2024 at 8:58 am GMT

Traders see decent chance for 50bps Fed cut in September Powell adds extra importance to jobs data, NFP awaited BoC decides on rates, third consecutive cut is fully priced in Aussie traders lock gaze on GDP numbers Bets for double Fed cut remain elevated Here comes another NFP week, with investors eagerly awaiting the results as they try to discern the size and pace of the Fed’s forthcoming rate cuts. The weaker than expected July numbers triggered market turbulence, [..]

Daily Comment – Nvidia earnings fail to buoy markets, focus turns to US data

Posted on August 29, 2024 at 8:51 am GMT

Nvidia slumps in after-hours trading as earnings don’t excite Equities mixed as attention turns to US data for direction Kiwi outperforms, euro slips on soft German and Spanish CPI figures No post-Nvidia boost for equities Nvidia’s much anticipated earnings results for the second quarter failed to deliver on the very high expectations even as the chip giant saw its revenue more than double from a year ago. Both revenue and earnings per share beat the consensus estimates and the company’s [..]

Technical Analysis – EURUSD plunges from 1.1200

Posted on August 28, 2024 at 12:56 pm GMT

EURUSD looks ready for bearish correction Stochastics and RSI head south EURUSD is declining from the 13-month high of 1.1200 that was reached in the preceding week. The pair is now ready for a potential downside retracement according to the technical oscillators. The stochastic is tumbling from the overbought region and the RSI is also diving beneath the 70 level. Immediate support to further decreases could be the 1.1050 barrier ahead of the 20-day simple moving average (SMA) at 1.1020. Below that, the 1.0950 barricade [..]

Daily Comment – Rate cut euphoria tempered by geopolitics as oil surges

Posted on August 27, 2024 at 8:54 am GMT

Mood turns cautious amid geopolitical uncertainty in Libya and Gaza Fears of supply disruptions drive up oil prices, S&P 500 closes lower China concerns also weigh but European stocks turn positive as data awaited Geopolitical risks take over as oil rallies Equity markets were mixed on Tuesday and the US dollar consolidated as investors turned cautious ahead of the week’s main events amid renewed fears about disruptions to oil supply. Investors turned cautious ahead of the week’s main events amid [..]

Quick Brief – Gloomy German Ifo survey weighs on euro as dollar rebounds

Posted on August 26, 2024 at 1:16 pm GMT

Germany’s ifo Institute warns economy is “falling into crisis” Jump in US durable goods orders aid dollar’s recovery Worries are mounting about Europe’s largest economy after the President of the ifo Institute, Clemens Fuest, warned that Germany is “increasingly falling into crisis” in the latest monthly survey report. The ifo business climate index in August fell to the lowest since February, although the reading of 86.6 was slightly above forecasts of 86.0. Speaking to Bloomberg, Fuest said the Germany [..]

Daily Comment – Powell signals it’s time to cut; dollar sinks but risk rally muted

Posted on August 26, 2024 at 9:14 am GMT

Powell says the time has come for rate cuts, pushing yields and dollar lower But cautious rally in stocks as Nvidia earnings, inflation data awaited Oil jumps amid fresh escalation between Israel and Hezbollah Powell green lights rate cuts Fed Chair Jerome Powell locked in a September rate cut on Friday, using his Jackson Hole address to signal the Fed’s long-awaited pivot toward an easing cycle. Using somewhat more dovish language than anticipated, Powell said the “time has come for [..]

Weekly Technical Outlook – US dollar index, EURUSD, USDJPY

Posted on August 26, 2024 at 8:54 am GMT

US Core PCE index could attract greater attention with an impact on dollar index Eurozone flash CPI closer to ECB’s target; EURUSD unlocks 1.1200 Japan’s Tokyo CPI might stay put; USDJPY heads south US core PCE inflation –> US dollar index The release of the US Core PCE price index for July this Friday will provide crucial insights into the underlying inflation trends. The core PCE index, which excludes volatile food and energy prices, is a key measure closely monitored by the Federal Reserve. The [..]

Technical Analysis – EURUSD eyes 2023 top after quick rally

Posted on August 26, 2024 at 8:40 am GMT

EURUSD returns to positive trend after Powell confirms dovish policy adjustment Technical signals reflect weakening positive bias; next resistance could be at 1.1240-1.1274 EURUSD has had a great August so far, rising sharply from 1.0776 to nearly 1.1200 to mark its best monthly performance since November 2022. The pair violated a bearish engulfing candlestick pattern after refusing to close below 1.1100 on Friday, increasing optimism that the rally might have more room to run. Nevertheless, it is crucial to be cautious as the [..]

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