All Articles Tagged - EURUSD

Market Comment – Mood turns sour after alarming Chinese trade data

Posted on August 8, 2023 at 8:57 am GMT

Slump in Chinese trade numbers weighs on risk-linked assets Dollar waiting for US inflation test, yen retreats after wage data Stocks bounce back despite Apple’s troubles, gold trades quietly China’s trade slump The slowdown in the world’s second-largest economy seems to be deepening, as the dual crises in the manufacturing and real estate sectors have dampened growth momentum. Earlier today, China’s latest trade data revealed a worsening contraction in exports and imports, which is a warning sign that both international [..]

Weekly Technical Outlook – EURUSD, GBPUSD, AUDUSD

Posted on August 7, 2023 at 2:21 pm GMT

After a mixed US employment report, traders will assess CPI inflation readings on Thursday for clues on the Fed’s next interest rate decision in September. The UK will report GDP growth figures on Friday, while in Asia, China’s CPI inflation and trade figures might deliver new hints on Beijing’s stimulative policy on Tuesday and Wednesday, respectively. Hence, this week’s calendar events could make EURUSD, GBPUSD and AUDUSD worthy to watch. US CPI inflation –> EUR/USD The US employment growth slowed surprisingly to [..]

Technical Analysis – EURUSD muted bearish pressure in place

Posted on August 7, 2023 at 1:07 pm GMT

EURUSD is edging lower today as it appears to be affected by the summer lull. The pair is actually hovering a tad above the 1.0921-1.0940 area and currently battling with the May 31, 2023 upward sloping trendline. In the meantime, the continued convergence of the 50- and 100-day simple moving averages (SMAs) has yet to play a role. Amidst this environment, most momentum indicators confirm the presence of bearish pressure. The Average Directional Movement Index (ADX) is slightly above its [..]

Week Ahead – US inflation report coming up as dollar storms higher

Posted on August 4, 2023 at 10:04 am GMT

The spike in US yields this week gave the dollar a boost, but the longevity of this recovery will be decided by the next edition of US inflation. According to the Cleveland Fed Nowcast model, there is some scope for an upside inflation surprise, which would be a blessing for the dollar. Aside from this release, there isn’t much else that can disturb the waters next week. Dollar shines ahead of inflation test Global markets are still reeling from the [..]

Technical Analysis – EURUSD challenges key uptrend line

Posted on August 3, 2023 at 1:22 pm GMT

EURUSD has been in a sliding mode since July 18, when it hit resistance at around 1.1280, the highest point since February 2022. However, the pair has taken a breather near the crossroads of the 100-day exponential moving average (EMA) and the uptrend line drawn from the low of September 23, which keeps the near-term outlook cautiously positive. The MACD lies below its trigger line, but holds fractionally above zero, while the RSI runs below its equilibrium 50 line, but has [..]

The next key data releases that could allow the ECB to hike in September – Special Report

Posted on August 2, 2023 at 1:40 pm GMT

The July central banks meetings lived up to expectations as both the Fed and the ECB announced their respective rate hikes but essentially removed their forward guidance. Data dependency is the new name of the game as the market is now counting down to the mid-September meetings. Which are the next key dates until the September 14 ECB gathering? What data figures would the ECB hawks like to see to push for another rate hike? Could the euro manage to defy [..]

Can nonfarm payrolls reawaken the US dollar? – Preview

Posted on August 1, 2023 at 11:13 am GMT

The latest edition of nonfarm payrolls will be released at 12:30 GMT Friday. Early indicators point to another solid employment report, which would reaffirm that the US economy remains far stronger than its competitors. This strength has not been reflected in the dollar lately, as other central banks raced ahead of the Fed in raising rates, although this dynamic seems to be changing. Economic resilience It is becoming clearer that the US economy has withstood the burden of higher interest [..]

Market Comment – Yen on the slide again, aussie slips on RBA, China worries persist

Posted on August 1, 2023 at 9:12 am GMT

Yen extends losses following BoJ’s surprise bond market intervention Aussie plunges after RBA holds rates, weak Chinese PMI weighs too Dollar stays supported, euro fails to capitalize on strong data No love for the yen from the BoJ The Japanese yen found itself in the familiar position of eyeing fresh lows against its major peers after the Bank of Japan unexpectedly intervened in the bond market on Monday to rein in the steep rise in local yields. The jump in [..]

Technical Analysis – EURUSD correction halts as overall technical picture unclear

Posted on July 31, 2023 at 10:07 am GMT

EURUSD is edging higher today as it is trying to find its footing following an eventful week. The pair is hovering a tad below the busy 1.1032-1.1095 area and remains comfortably below the September 28, 2022 upward sloping trendline. The convergence of the 50- and 100-day simple moving averages (SMAs) persists and thus keeps the door open to a sizeable move soon. In the meantime, most momentum indicators appear to have reset following their recent decent moves. The Average Directional [..]

Market Comment – Stocks rally but dollar holds firm on soft PCE inflation

Posted on July 31, 2023 at 9:04 am GMT

Expectations of further Fed rate hikes evaporate after dip in core PCE Stocks rejoice but dollar stays in demand as yen’s comeback bid falters RBA decision coming up, BoE next on Thursday ahead of US jobs report Fed pause seen as a certainty after core PCE eases The markets’ conviction that the Fed’s July rate hike was a one and done got a boost on Friday after the central bank’s favourite inflation metric fell more than expected, underscoring the view [..]

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