All Articles Tagged - EURUSD

Daily Market Comment – Euro slides after PMIs, yen gets rocked by BoJ speculation

Posted on July 24, 2023 at 8:42 am GMT

Yen slammed lower as bets of BoJ tightening this week get unwound Euro bruised by PMI surveys, gold undecided, Nasdaq awaits rebalancing Huge week lies ahead, featuring ‘big 3’ central banks and tech earnings Yen suffers in quiet trading Global markets were caught in a holding pattern on Monday, with most assets trading in a relatively quiet manner. Investors seem reluctant to make any portfolio adjustments ahead of what promises to be a volatile week, featuring central bank decisions in [..]

Technical Analysis – EURUSD exposed to selling appetite; eyes on 1.1100

Posted on July 21, 2023 at 1:21 pm GMT

EURUSD changed course to the downside after its latest rocket rally peaked at a 17-month high of 1.1275 and near the support-turned-resistance trendline from November 2022. The pair is currently trading around Thursday’s close price of 1.1128 and marginally above its previous high of 1.1094. The 23.6% Fibonacci retracement of the 1.0634-1.1275 upleg at 1.1123 is adding extra credence to the region, but further declines could be on the cards as the RSI and the Stochastic oscillator have exited the overbought territory and are [..]

Week Ahead – Fed, ECB and BoJ decisions take center stage

Posted on July 21, 2023 at 10:49 am GMT

Following a relatively quiet week in terms of economic data and events, the spotlight now turns to three major central banks: the Federal Reserve, the European Central Bank, and the Bank of Japan. With investors anticipating only one more hike by the Fed, the focus will be on whether officials will signal the end of this hiking cycle, while with several ECB members pushing back on a September hike, it will be interesting to see whether Lagarde has also changed [..]

As dollar fights back, can flash PMIs revive the euro and pound rally? – Forex News Preview

Posted on July 20, 2023 at 1:22 pm GMT

The flash PMI readings for July are due on Monday for the major economies. The highlights as usual will be for the euro area (08:00 GMT), the United Kingdom (08:30 GMT) and the United States (13:45 GMT). Economic growth has been losing steam in most parts of the world amid surging interest rates, but the pace of disinflation has been somewhat less synchronized. This has put the spotlight on monetary policy divergence as far as the FX market is concerned. [..]

Daily Market Comment – Dollar’s fate lies on the Fed as ECB officials soften tone

Posted on July 20, 2023 at 8:32 am GMT

Dollar extends recovery, awaits Fed decision ECB’s Stournaras said July hike would be enough Pound, yen extend retreat, aussie gains on jobs report Tesla and Netflix earnings results disappoint Dollar’s fate lies in the hands of the Fed The dollar continued to trade higher against most of the other major currencies on Wednesday, perhaps as traders further liquidated short positions after last week’s tumble due to the larger-than-expected slowdown in consumer and producer prices for June. Nonetheless, in the absence of [..]

Daily Market Comment – Retail sales help the dollar, Pound slides on CPIs

Posted on July 19, 2023 at 8:16 am GMT

Dollar sellers lock profits on resilient core retail sales ECB hawk Knot casts doubts over September rate hike UK inflation slows more than expected, pound pulls back Tesla and Netflix earnings enter the limelight Dollar rebounds, but Fed cut bets remain firmly on the table The US dollar traded slightly higher against most of the other major currencies on Tuesday, extending its recovery during the Asian session Wednesday. Although data showed that US retail sales rose less than expected in [..]

Daily Market Comment – Euro on fire as dollar sags ahead of US data, earnings

Posted on July 18, 2023 at 9:18 am GMT

Euro hits 17-month high before ECB’s Visco knocks it lower Bruised dollar sets sights on US retail sales as Treasury yields resume slide Equities mixed despite China’s aim to boost consumption; earnings awaited Euro leads charge against US dollar The post-CPI headache for the US dollar is showing no signs of receding as speculation about monetary policy divergence continues to intensify, with the euro being the biggest winner in this latest phase. The single currency briefly surged to a 17-month [..]

Technical Analysis – EURUSD plays defense near overbought conditions

Posted on July 17, 2023 at 8:00 am GMT

EURUSD has experienced significant gains in the past 10 days, smashing its recent resistance levels and posting a fresh 17-month peak last Friday. However, it seems that the bulls cannot extend the recent rally as the pair has approached overbought conditions. The momentum indicators currently suggest that the recent rally could be overstretched. Specifically, the MACD is not only above both zero and its red signal line but also at its highest levels since January 2023, while the RSI is directionless within [..]

Daily Market Comment – Dollar takes another bullet after easing producer prices

Posted on July 14, 2023 at 8:13 am GMT

US producer prices barely increase in June Dollar extends fall as investors add to their Fed cut bets Euro and pound extend their uptrends; aussie and kiwi rally Wall Street rises on cooling inflation; bank earnings on tap Dollar takes another dive after soft PPI data The US dollar extended its free fall on Thursday against all the other major currencies, taking another steep dive after more US data added credence to the view that the Fed may be closer [..]

Daily Market Comment – Dollar collapses, stocks and gold shine after US inflation

Posted on July 13, 2023 at 8:26 am GMT

Dollar gets decimated by ‘cold’ US inflation report Stock markets hit new highs, gold powers higher Coming up – US producer prices and ECB minutes US CPI slams dollar lower A ‘cold’ US inflation report sent shockwaves across global markets yesterday, as investors reassessed the path for interest rates. Annual inflation as measured by the consumer price index clocked in at 3% in June, just a shade lower than the consensus estimate of 3.1%, but a sharp slowdown from 4% [..]

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