All Articles Tagged - EURUSD

Market Comment – Gold and tech stocks receive boost from weak PMI data

Posted on August 24, 2023 at 8:40 am GMT

Global bond yields plummet after disappointing business surveys Gold and stocks capitalize, Nvidia earnings add fuel to Nasdaq rally Major FX pairs swing violently, Japanese yen comes out on top Soft PMIs highlight global slowdown It was an electrifying trading session in financial markets, after a round of disappointing business surveys from the major economies cemented the notion that the days of central bank tightening are numbered. In a nutshell, global economic momentum is evaporating and Europe is at the [..]

Technical Analysis – EURUSD breaks below 1.0830 support

Posted on August 23, 2023 at 1:05 pm GMT

EURUSD extended its slide following the disappointing Euro area PMIs, breaking below the 1.0830 support, marked by the lows of June 30 and July 6. The pair is already well below the prior uptrend line drawn from the low of September 26 and it is now testing the 200-day exponential moving average (EMA). A break below that moving average will paint an uglier picture, but the move that could signal a full-scale reversal may be a dip below the key [..]

Market Comment – Dollar trades mixed, awaiting Powell’s speech; Euro slides on PMIs

Posted on August 23, 2023 at 8:14 am GMT

Dollar trades mixed as Jackson Hole draws closer Fed’s Barkin sees reacceleration scenario Euro falls on PMIs, UK PMIs next Wall Street turns spotlight to Nvidia earnings Fed’s Barkin adds to the likelihood of more Fed hikes The US dollar traded mixed against the other major currencies on Tuesday as traders may be reluctant to assume large positions ahead of the Jackson Hole economic symposium and Fed Chair Powell’s speech on Friday. With the Fed turning data dependent and US [..]

Jackson Hole symposium to shape dollar’s path – Preview

Posted on August 22, 2023 at 11:25 am GMT

The Fed’s annual economic symposium will kick off on Thursday, but the highlight will be Chairman Powell’s flagship speech on Friday. With US yields trading at their highest levels of this cycle, his signals on interest rates could either add fuel to this rally or trigger a correction, driving the dollar accordingly. Fed summer camp Once every year, Fed officials are joined by foreign central bankers and academics at their summer retreat in Jackson Hole for a symposium to discuss [..]

Technical Analysis – EURUSD turns up; short-term outlook still cloudy

Posted on August 21, 2023 at 9:52 am GMT

EURUSD opened moderately higher on Monday after almost touching the 1.0830 support area, which sparked the exciting rally to a 17-month high of 1.1275 last month. The pair experienced five negative weeks in a row, retreating below the trendline that connects the lows from September 2022 and below its 20- and 50-day exponential moving averages (EMAs). The recent small red candlesticks and an oversold stochastic oscillator suggest that selling pressure is dwindling. Also, the price bounced off the lower Bollinger band last [..]

Market Comment – Jackson Hole suspense keeps traders defensive

Posted on August 21, 2023 at 9:13 am GMT

Markets in a stalemate, waiting for Jackson Hole clarity All eyes on bond yields – will Powell disturb the waters? Dollar and gold stable, China rate cut fails to impress Quiet before the Fed storm? A fragile sense of calm has returned to global markets. From currencies to equities to commodities, most assets started the new trading week in relatively narrow ranges. Investors seem reluctant to adjust their portfolios ahead of what promises to be a stormy week, featuring the [..]

Eurozone PMIs important for the euro next week – Preview

Posted on August 18, 2023 at 1:25 pm GMT

Economists see another rate hike in the euro area, but some skepticism remains about whether the rise will happen in September or at a later time. Preliminary business PMI figures for August could provide fresh insight on Wednesday at 08:00 GMT. Even if there’s another bad report, a September rate hike might still happen, but it could also be the last. The euro could extend its downleg in this case, unless the Fed chief sends strong dovish signals during the [..]

Week Ahead – All eyes on the Jackson Hole symposium

Posted on August 18, 2023 at 9:50 am GMT

It’s a light week in terms of economic data, with the most important releases being the business surveys from the major economies. But the true highlight will be the Fed’s annual economic symposium. With US yields on the verge of a breakout, Chairman Powell’s signals about the path of interest rates will be absolutely crucial for the dollar. Will Powell tread lightly? Once per year, FOMC officials gather at their summer retreat in Jackson Hole, Wyoming for a symposium to [..]

Performance of key market instruments when the 10-year US yield rises above 4% – Special Report

Posted on August 18, 2023 at 7:58 am GMT

August is traditionally seen as a quiet month, but once again significant developments are taking place globally. In particular, the 10-year US yield has climbed decisively above the 4% threshold as market participants are scrambling to explain this move amidst a low liquidity environment. A quick look at market history could give us some valuable insight as to what the future holds for euro-dollar and other key market instruments. Significant developments everywhere The market has once again proven that it [..]

Market Comment – Dollar shines as yields shoot up, gold and yen suffer

Posted on August 17, 2023 at 8:38 am GMT

Yields approach new cycle highs, boosting US dollar Gold and stock markets absorb collateral damage Yen meltdown continues; how likely is intervention? Bond rout spills over The havoc in bond markets has started to spread into other asset classes. Yields on 10-year US Treasuries continue their relentless rally and are currently just a shade away from reaching new highs for this cycle. In turn, this has kneecapped riskier trades, which mechanically become less attractive as the risk-free interest rate rises. [..]

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