All Articles Tagged - EURUSD

Market Comment – Euro skids after ECB hike, China data lifts sentiment

Posted on September 15, 2023 at 9:28 am GMT

Euro tumbles as ECB raises rates but hints at pause US dollar hits 6-month high after US retail sales beat Stocks rally on upbeat Chinese data but watch out for triple witching ECB makes surprise hike despite gloomy outlook The European Central Bank raised its key lending rates by 25 basis points on Thursday, taking some investors by surprise amid a split within the Governing Council heading into the meeting. Markets and economists were certain policymakers were going to skip [..]

Market Comment – Euro in the spotlight ahead of ECB decision

Posted on September 14, 2023 at 8:28 am GMT

ECB decision coming up, but is it a lose-lose for the euro? Dollar chops around after US inflation, awaits retail sales Gold extends losing streak despite falling bond yields Will the ECB sink the euro? The highlight today will be the European Central Bank decision, where markets are pricing in a 65% probability of a rate increase. Even though a range of leading indicators suggest the Eurozone is teetering on the verge of recession, the persistence of underlying inflation dynamics [..]

Technical Analysis – EURUSD in waiting mode; bulls desperate for a move higher

Posted on September 14, 2023 at 7:03 am GMT

EURUSD continues to hover around the 1.0720-1.0727 area Short-term bearish trend remains firmly in place But the stochastic oscillator could open the door to a bullish move EURUSD continues to hover around the 1.0720-1.0727 area as market participants are preparing for the next key events. All eyes are on the stochastic oscillator at this juncture. It is hovering in its oversold territory, but it has surpassed its moving average and looks ready to climb above the 20 threshold and the August [..]

Technical Analysis – EURUSD almost unchanged today, but bulls do not lose hope

Posted on September 13, 2023 at 1:27 pm GMT

EURUSD is trying to register its fourth consecutive green candle Short-term bearish trend remains dominant But the stochastic could open the door to a bullish reaction EURUSD is hovering at its lowest point since the late-May trough as the market is preparing for the next key events. The bearish pressure persists but it appears to be losing its strength. More specifically, the Average Directional Movement Index (ADX) is edging lower and towards its 25-threshold, thus pointing to a muted and weakening bearish [..]

Market Comment – Cautious trading ahead of US inflation report

Posted on September 13, 2023 at 8:40 am GMT

US inflation data to set the tone for USD and riskier plays Euro gets a boost from ECB reports, oil prices power higher Tech sector leads stock markets down, gold nurses losses US CPI in the limelight Traders are locked and loaded for another edition of US inflation data today. Markets have concluded that the Fed won’t raise rates next week and this report is unlikely to change this notion. Still, it could shape expectations around the November meeting, which [..]

Market Comment – Stocks perk up ahead of US CPI and ECB tests, dollar resumes climb

Posted on September 12, 2023 at 9:09 am GMT

Markets steady as US data and ECB decision awaited Wall Street starts week on optimistic note Yen eases slightly as dollar back on the front foot, pound unfazed by jobs data Calm prevails ahead of big tests Markets remained in a cautiously risk-on mode on Tuesday as hopes that China’s economic meltdown is stabilizing and that central banks are nearing the end of their tightening cycle shored up sentiment ahead of some key events lined up this week. Traders are [..]

A dovish hike or a hawkish pause coming from the ECB? – Preview

Posted on September 12, 2023 at 8:01 am GMT

The ECB rate-setting meeting dominates this week’s busy schedule Market split between a dovish 25bps rate hike and a hawkish pause Decision will be announced on Thursday 12.15 GMT, press conference at 12:45 GMT All eyes are on Thursday’s ECB rate meeting The ECB holds its sixth rate-setting meeting for 2023 with the market mostly split on its outcome. The probability assigned for the tenth consecutive rate hike has varied greatly over the past 40 days and it is currently [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on September 11, 2023 at 2:52 pm GMT

ECB to hold rates steady; EUR/USD may not enjoy lasting gains UK jobs & GDP data may be not be strong enough to push GBP/USD above key barrier US CPI inflation to strengthen but will USD/JPY resume uptrend? ECB rate decision –> EUR/USD ECB policymakers will analyze a dull dataset before announcing their next policy decision on Thursday at 12:15 GMT. On the one hand, inflation has not diminished enough to meet the central bank’s 2.0% symmetrical target despite interest rates standing at historic highs. [..]

Market Comment – Yen jumps on hawkish Ueda remarks, dollar slips ahead of US CPI

Posted on September 11, 2023 at 9:29 am GMT

BoJ’s Ueda hints at end to negative rates by year-end if wages rise Dollar starts week on the backfoot as crucial CPI data awaited China hopes lift aussie, equities; easing Apple selloff helps stocks too Ueda sparks BoJ policy speculation The Japanese yen shot higher on Monday, climbing against all of its major peers after Bank of Japan Governor Kazuo Ueda fanned speculation of an early exit from ultra-easy policy in an interview with the Yomiuri newspaper over the weekend. [..]

US inflation data could add fuel to the dollar’s resurgence – Preview

Posted on September 8, 2023 at 11:29 am GMT

The US dollar has gone on a tear in recent weeks amid signs that the US economy remains resilient, in contrast to Europe and China that are rapidly losing steam. Whether this rally continues or suffers a setback will depend on the latest CPI report on Wednesday at 12:30 GMT. Overall though, the outlook for the dollar seems quite bright. American strength A range of incoming indicators continue to reaffirm the power of the US economy. The labor market is [..]

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