All Articles Tagged - EURUSD

Dollar turns to US employment report for more fuel – Forex News Preview

Posted on May 30, 2023 at 1:39 pm GMT

The US dollar has been firing on all cylinders lately, capitalizing on bets that the Fed will raise rates one final time this summer. Yet, Fed officials seem split on whether more tightening is needed. This puts more emphasis on the upcoming nonfarm payrolls on Friday. Most signs point to another solid employment report, which could cement expectations of higher-for-longer rates and thereby, add fuel to the dollar’s recovery. One final hike Following a streak of encouraging data releases that [..]

Daily Market Comment – Dollar fires up, pushes gold down the stairs

Posted on May 30, 2023 at 8:14 am GMT

Dollar continues to recover ground, bolstered by Fed bets Gold falls to 6-week lows as debt ceiling deal spreads relief Stocks set to open higher, despite looming liquidity drain Euro/dollar grinds lower There’s been a change of fortune for euro/dollar this month. A cascade of cheerful US data releases has convinced traders the Fed will push the rate-hike button one final time this summer, while in contrast, the data pulse in the Eurozone has been weakening as the troubles in [..]

Technical Analysis – EURUSD turns green but not bullish yet

Posted on May 29, 2023 at 7:29 am GMT

EURUSD switched to recovery mode after its bearish wave from a one-year high stabilized around a two-month low of 1.0700 on Friday. Interestingly, the 61.8% Fibonacci retracement zone of the previous bullish run cemented that floor. Technically, the pair needs to create a long green candlestick in order to confirm a bullish three-candle morning star pattern. Ideally, a close above Friday’s high of 1.0757 could boost recovery towards the key constraining zone of 1.0800 formed by September’s broken support trendline and the 50% [..]

Week Ahead – Nonfarm payrolls eyed as dollar rides Fed bets

Posted on May 26, 2023 at 11:12 am GMT

With investors flirting with the idea of one final Fed rate increase this summer and the dollar making a comeback, there will be increased emphasis on the next round of US employment data on Friday. Debt ceiling negotiations will also be front and center as the clock ticks down to a US government shutdown, while in Europe, there’s a batch of inflation numbers to shape the euro’s fortunes. Dollar looks to NFP for more juice It’s been a fantastic month [..]

Daily Market Comment – Dollar pauses for breath ahead of inflation data, tech rally eases

Posted on May 26, 2023 at 9:20 am GMT

Fed rate cut bets continue to be priced out, all eyes on core PCE inflation US dollar softer today but still headed for third weekly gain Debt deal progress and AI buzz lift Wall Street, global equities Fed rate cut bets pushed back as summer hike seen certain The US dollar eased off two-month highs on Friday as the three-week rally paused for breath amid the sharp repricing of the Fed’s rate path. Treasury yields also cooled off as investors [..]

Technical Analysis – EURUSD in a bearish cycle; 1.0700 next in focus

Posted on May 25, 2023 at 2:47 pm GMT

EURUSD has been in a tight downward-sloping channel over the past three weeks, falling from nearly 1.1100 to a two-month low of 1.0713 on Thursday. The latest bearish correction followed the rejection near the 20-period exponential moving average (EMA) and the extension of the ascending trendline, which connects the lows from September and November. Some consolidation could emerge in the short term given the oversold signals from the RSI and the Stochastic oscillator. In this case, the 1.0700-1.0690 region, which [..]

Daily Market Comment – Gold and yen scorched by rising yields, Nvidia saves stocks

Posted on May 25, 2023 at 8:34 am GMT

Dollar continues its grind higher, empowered by Fed bets and risk aversion Gold gets burned by rising yields, central bank divergence hits Japanese yen Stocks close lower, but Nvidia earnings turn markets around after-hours Dollar capitalizes on resurgent Fed bets Market participants are becoming more confident the Fed might raise rates one final time this summer and that rate cuts won’t come into play anytime soon. Some remarks by Fed Board Governor Waller and the minutes of the latest FOMC [..]

Daily Market Comment – FOMC minutes on the radar as dollar attempts comeback

Posted on May 24, 2023 at 9:11 am GMT

Dollar extends recovery, stock markets slide in risk-off session Sterling takes a hit despite hot UK inflation, RBNZ sinks the kiwi Debt ceiling nerves grow – are investors focusing on the wrong risk? Fed rethink, but not for stocks There is a sense of caution in the air, with equities sliding yesterday and the dollar finding some demand through the safe-haven channel. Conviction among traders seems low as several risks continue to cloud the outlook, while some classic correlations between [..]

Weekly Technical Analysis – NZDUSD, EURUSD, GBPUSD

Posted on May 23, 2023 at 9:37 am GMT

This week the focus of attention will be on the Reserve Bank of New Zealand policy meeting, the UK CPI data and the US Core PCE figures and the highlight would be to how NZDUSD, EURUSD and GBPUSD may react. RBNZ decision → NZDUSD This week, only the Reserve Bank of New Zealand will be having a policy meeting among the world’s major central banks. On Wednesday, most investors expect it to decide to increase interest rates by 25 basis [..]

Daily Market Comment – Markets calm but nervous as debt ceiling and Fed drama drag on

Posted on May 23, 2023 at 9:04 am GMT

Biden-McCarthy talks end with no deal but both sides remain hopeful Stocks subdued but dollar edges up as Fed rhetoric stays on the hawkish side Euro slips as mixed PMIs unable to lend much support No breakthrough yet in debt ceiling talks Pressure is building in Washington as there is yet to be any major breakthrough in the negotiations to reach an agreement on raising the US debt ceiling. While both President Biden and House Speaker Kevin McCarthy have reiterated [..]

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