All Articles Tagged - EURUSD

Market Comment – Calm ahead of US jobs report as markets pin hopes on cool-off

Posted on September 1, 2023 at 9:37 am GMT

Dollar and stocks drift sideways as August payrolls awaited for direction Asian equities outperform after China boosts support but aussie fails to catch fire Oil extends rebound amid tightening market, gold holds near highs All eyes on August NFP report It’s been a week of ‘bad news is good news’ for the markets as investors ramped up their bets that rates in the US have peaked following a slew of soft data suggesting that Fed tightening is starting to put [..]

Market Comment – Euro pulls back despite CPI beat as dollar braces for more US data

Posted on August 31, 2023 at 9:32 am GMT

Dollar slumps again amid more signs of US slowdown, core PCE next Euro see-saws after mixed CPI numbers Stocks extend rally on fading Fed hike expectations, China stimulus Soft US data streak continues Expectations of further tightening by the Fed diminished further on Wednesday after more data pointed to a slowing economy in the United States. Hot on the heels of Tuesday’s unexpected drops in job openings and a key gauge of consumer confidence, the ADP employment report also disappointed [..]

Technical Analysis – Has EURUSD started a new bullish cycle?

Posted on August 30, 2023 at 3:04 pm GMT

EURUSD picked up steam after German headline CPI inflation arrived slightly higher than expected. A downward revision in the US Q2 first estimates and a surprise dip in the private ADP employment report added extra impetus to the price, sending it as high as 1.0944. The market aims for a new bullish cycle following the bounce on the 200-day exponential moving average (EMA), which established June’s and March’s rebound as well. An extension above the 20- and 50-day EMAs could [..]

Market Comment – Dollar falls as US data reinforce Fed pause case

Posted on August 30, 2023 at 8:36 am GMT

Dollar slides as job openings drop to a 2-1/2 year low ADP report and 2nd estimate of US GDP on today’s agenda Euro awaits German CPIs ahead of Eurozone inflation numbers Wall Street extends gains, Nasdaq the big winner Weak job openings push dollar and yields lower The US dollar tumbled against all the other major currencies on Tuesday and Treasury yields extended their retreat after data showed that job openings in the US fell in July and that consumer [..]

Weekly Technical Outlook – USDJPY, EURUSD, AUDUSD

Posted on August 28, 2023 at 3:05 pm GMT

The Fed and the ECB reiterated that inflation remains undefeated and interest rates may remain elevated during the Jackson Hole Symposium last week, but again they refrained from providing any clear signals about what the next rate decision will be. That throws a brighter spotlight on upcoming economic data. Specifically, the US nonfarm payrolls report, eurozone’s CPI inflation and China’s PMI figures will be important to watch as USD/JPY, EUR/USD and AUD/USD trade near a make-or-break point. US Nonfarm [..]

Market Comment – Equities climb despite Jackson Hole’s higher for longer warning

Posted on August 28, 2023 at 9:20 am GMT

Rate hike odds edge up after Powell and Lagarde signal inflation fight not over But dollar steady as yields barely budge, Wall Street closes higher China announces more stimulus, stocks jump before paring gains Powell strikes a balanced tone Markets were still digesting Powell’s Jackson Hole speech on Monday amid a mixture of relief and trepidation after the Fed chief struck a mostly balanced tone on the rate outlook with a slightly hawkish tint. As had been widely anticipated, Powell’s [..]

Week Ahead – Volatility to continue as US jobs and inflation data on the way

Posted on August 25, 2023 at 12:09 pm GMT

Markets have been taunted by shifting Fed expectations over the past week and there’s likely to be more anguish for investors in the next few days as crucial payrolls and inflation numbers are coming up. The August jobs report and PCE inflation readings will be closely watched amid signs the US economy is starting to lose steam fast. The Eurozone economy is going through an even rougher patch, putting the spotlight on flash CPI figures. China has been another source [..]

As the ECB hike dilemma sharpens, traders seek clarity in inflation numbers – Preview

Posted on August 25, 2023 at 10:08 am GMT

With Lagarde taking off her ultra-hawk armor at the latest ECB gathering and last week’s business surveys pointing to deepening wounds for the Euro area economy, investors have become skeptical as to whether the ECB should press the hike button again in September. Will the Eurozone preliminary inflation numbers, due out on Thursday at 09:00 GMT, clear the fog? And could traders become willing to buy the euro again? To hike or not to hike? At the July ECB gathering, [..]

Market Comment – Dollar powers higher heading into Jackson Hole

Posted on August 25, 2023 at 8:29 am GMT

Traders play defense ahead of Powell’s speech at Jackson Hole Dollar benefits from risk aversion as stocks reverse lower Euro extends losses, Lagarde unlikely to offer helping hand Markets nervous ahead of Powell A sense of nervousness has returned to global markets. Traders seem to be playing some defense, reducing leverage and trimming their risk exposure ahead of Chairman Powell’s keynote speech at the Jackson Hole economic symposium today at 14:00 GMT. This venue has been used in the past [..]

How long can the euro ignore recession risks? – Special Report

Posted on August 24, 2023 at 1:56 pm GMT

The Eurozone economy seems to be rolling over. Business surveys paint an ugly picture, especially in Germany, where economic activity is already contracting. And yet, the euro has not absorbed any significant damage. What’s behind this FX resilience and is a ‘reality check’ imminent? Storm clouds gathering It’s been a tough few quarters for the euro area economy. Rising borrowing costs have joined forces with the malaise in global manufacturing to put the brakes on economic growth, especially in Germany, [..]

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