All Articles Tagged - EURUSD

Week Ahead – PCE inflation eyed as Fed lays groundwork for September cut

Posted on August 23, 2024 at 8:22 am GMT

Focus to stay on the Fed as PCE inflation to be week’s main highlight Eurozone inflation data to be crucial for ECB rate cut hopes Australian and Tokyo CPI, plus Canadian GDP also on the agenda Will PCE inflation disappoint dovish expectations? The Fed’s long-anticipated dovish pivot is upon us and markets are bracing for the first US rate cut of this cycle at the September 17-18 meeting. However, the Fed remains largely data dependent and with the September decision [..]

Market Comment – Dovish Fed and labor data weigh on dollar

Posted on August 22, 2024 at 8:19 am GMT

Fed minutes reveal some members wanted a July cut Nonfarm payroll growth revised down by the most since 2009 PMIs in focus ahead of Powell’s Jackson Hole speech Wall Street gains ground, oil extends slide Dollar slips as traders ramp up Fed cut bets The dollar extended its slide against its major counterparts on Wednesday, as the minutes of the July 30-31 Fed gathering revealed that officials are strongly leaning towards a September rate cut, with some members being willing [..]

Technical Analysis – EURUSD bulls stay in charge

Posted on August 21, 2024 at 9:55 am GMT

EURUSD extends rally, hits 1.1130 But oscillators point to fading momentum A setback may be possible before the next leg north EURUSD has been in a steady rally since August 15, when it hit support at 1.0950, and it is currently testing the key resistance zone of 1.1130, a zone that stopped the bulls from heading further north back in December, as well as back in July, 2023. Overall, the pair is trading above a short-term uptrend line drawn from the [..]

Market Comment – Dollar looks at the Fed minutes for a small boost

Posted on August 21, 2024 at 7:32 am GMT

Dollar weakness dominates the FX space Today’s Fed minutes could halt the euro/dollar rally Markets are gearing up to the Powell’s Jackson Hole speech Oil prices remain under pressure Dollar underperformance continues The euro continues to take advantage of the US dollar’s weakness by trading to the highest level since December 2023. This pair has managed to quickly climb above the critical 1.1032-1.1095 area, which has acted as strong resistance in the recent past, with the next plausible target being [..]

Could Fed chief Powell finally reveal his hand at Jackson Hole? – Preview

Posted on August 20, 2024 at 2:35 pm GMT

The Jackson Hole Symposium will be held on August 22-24 Fed Chairman Powell speaks on Friday at 14:00 GMT Markets expect a dovish tone in support of a September rate cut Fed minutes and PMI surveys to set the scene Markets are gearing up for the Jackson Hole Symposium The much talked-about Jackson Hole Symposium is just a few days away with the markets anxiously waiting for Fed Chairman Powell’s speech. The overall Fedspeak during this 3-day gathering could determine [..]

Technical Analysis – EURUSD records new 8-month high

Posted on August 20, 2024 at 12:38 pm GMT

EURUSD stands well above 1.1000 50- and 200-SMAs create bullish cross Stochastic still moving higher EURUSD is flying to a fresh eight-month high of 1.1088 continuing the bounce off the 1.0950 support level. Currently, the market remains well above the long-term descending trend line, endorsing the view for a bullish structure in the near term. From the technical perspective, the stochastic oscillator is gaining momentum above the 80 level, while the RSI is trying to cross the 70 to the [..]

Volatility ebbs as recession fears evaporate – Volatility Watch

Posted on August 20, 2024 at 10:45 am GMT

Besides EUR/USD, FX volatility subsides as markets digest rate path repricing Volatility in precious metals is still high, but oil enters calmer waters Stock indices and Bitcoin volatility at their bottom of their 30-day range Recession concerns from a weaker-than-expected July NFP report have been fading, though they led to notable adjustments in expectations about major central banks’ interest rate paths. This week, investors are focused on Jerome Powell’s Jackson Hole speech, anticipating insights on the Fed’s view on the current economic conditions and prospective rate [..]

Market Comment – Dollar under pressure ahead of Jackson Hole Symposium

Posted on August 20, 2024 at 7:54 am GMT

Stocks in the green again as investors await the Jackson Hole gathering Economists look for strong Fed easing in 2024 despite recession talk dissipating Dollar remains on the back foot against most currencies Aussie fails to benefit from hawkish minutes; loonie could suffer from weak CPI Stocks still in the green Stocks continue to enjoy green sessions as the market is counting down to Friday’s Jackson Hole speech by Fed Chairman Powell. Expectations for a dovish appearance are keeping equities [..]

Market Comment – Euro/dollar in critical area as the Jackson Hole Symposium nears

Posted on August 19, 2024 at 7:34 am GMT

Stocks record strong weekly gains as the first Fed rate cut gets closer Markets are gradually preparing for the Jackson Hole gathering Euro/dollar trades within a critical resistance area Gold in demand as geopolitics generate headlines Stocks rally, enjoy the mixed US data Markets continue to recover after the recent rout, with US equities finishing last week with strong gains. More specifically, the Nasdaq 100 index led the rally with a 5.4% weekly rise as the three main US stock indices simultaneously [..]

Technical Analysis – EURUSD tests 1.1050 tricky area

Posted on August 19, 2024 at 6:18 am GMT

EURUSD flirts with 8-month high again Remains well above the long-term symmetrical triangle 50- and 200-day SMAs ready for bullish cross Momentum oscillators confirm upside move EURUSD has been in a bullish move, especially after the rally above the long-term symmetrical triangle last week. The pair is again battling with the almost eight-month high of 1.1050, with the simple moving averages (SMAs) mirroring the current upside movement as they are all ticking higher. Additionally, the 50-day SMA is ready to cross above [..]

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