All Articles Tagged - EURUSD

Daily Market Comment – Powell talks pause but debt ceiling uncertainty weighs on sentiment

Posted on May 22, 2023 at 9:46 am GMT

Powell signals Fed may be done raising rates, pushing June hike odds into reverse Dollar takes a tumble but quickly finds its footing Stocks also struggle amid ongoing debt ceiling drama as clock keeps ticking Powell takes over pause debate, sides with the doves Fed Chair Jerome Powell waded into the policy debate on Friday, adding his much-anticipated view on whether or not the time has come to press the pause button on rate increases. It comes after a week-long [..]

Technical Analysis – EURUSD extends retreat below key trendline

Posted on May 22, 2023 at 6:22 am GMT

EURUSD has been stuck in a clear downtrend after peaking at the 13-month high of 1.1094 in late April. In addition, the pair has sliced through crucial technical levels such as the 50-day simple moving average (SMA) and the ascending trendline that connected its higher lows since September 2022. The short-term oscillators are endorsing this bearish near-term bias. Specifically, the MACD is retreating further below both zero and the red signal line, while the RSI has flatlined below its 50-neutral mark. [..]

Week Ahead – RBNZ, Fed minutes, UK & US inflation, flash PMIs to headline packed week

Posted on May 19, 2023 at 11:40 am GMT

The RBNZ looks set to raise rates for a 12th time in the coming week, while inflation figures out of the United Kingdom and United States will be crucial in shaping rate hike expectations. After some shockingly bad data recently, Germany’s PMI readings will likely capture the most attention from S&P Global’s flash surveys for May. With sentiment still fragile, the PMIs could set the tone for equity markets, but will they aid the US dollar’s advance or will the [..]

Technical Analysis – EURUSD suffers another setback; bias bearish

Posted on May 18, 2023 at 2:53 pm GMT

EURUSD plummeted to an almost eight-week low of 1.0782 on Thursday following the pullback from the 50-day exponential moving average (EMA), increasing the likelihood of a bearish continuation. The price flipped back below its falling 20- and 50-day EMAs, with the technical oscillators flagging another discouraging session ahead. Specifically, the MACD has dropped into the negative region for the first time since March. Meanwhile, the RSI has extended its downtrend below its 50 neutral mark, though it’s currently a short [..]

As the dollar attempts a comeback, are markets wrong about the Fed? – Special Report

Posted on May 17, 2023 at 9:21 am GMT

The US dollar is showing signs of life again, notching up its best week since September of last year and reaching a five-week high against the euro. From a technical perspective, the dollar index – a gauge measuring the US currency against a basket of six peers – has a few more hurdles to climb before it can claim to have emerged from its bearish phase, while from a fundamentals standpoint, the Federal Reserve is getting closer to hitting the [..]

Daily Market Comment – Gold slides as traders unwind Fed rate cut bets

Posted on May 17, 2023 at 8:58 am GMT

Gold and yen fall, dollar gains after solid US data and Fedspeak Stocks mixed, resilience of tech shares holding up entire market Debt ceiling showdown continues, Japan beats GDP estimates US data cools rate-cut bets Investors continue to reassess the trajectory of Fed interest rates. Under the hood, there’s been a quiet repricing of rate expectations this week, with the probability of a June rate hike edging higher and bets of rate cuts in the remainder of the year getting [..]

Daily Market Comment – Focus shifts to US retail sales and debt ceiling talks

Posted on May 16, 2023 at 8:53 am GMT

Dollar inches lower, stocks cheer after soft US manufacturing data Next items on the agenda are US retail sales and debt ceiling talks Disappointing Chinese data deals blow to recovery hopes Stocks rise despite grim data Global markets entered the new trading week in a cheery mood. Wall Street cruised higher as investors continued to pile into tech and semiconductor shares while commodity prices staged a cautious recovery, shrugging off a gloomy manufacturing survey from the United States. Manufacturing activity [..]

Weekly Technical Analysis – EURUSD, EURTRY, USDJPY

Posted on May 15, 2023 at 10:32 am GMT

This week the focus of attention will be on the US retail sales, the Turkish elections that are coming up with a second round on May 28 and the Japanese GDP and CPI data. The attention will therefore be switched on how EURUSD, EURTRY and USDJPY may react. US retail sales → EURUSD The highlight will be the US retail sales for April. Expectations are for both the headline and core month-over-month rates to have rebounded to 0.7% and 0.4% respectively from -0.6% and -0.4%. Turkish presidential elections → EURTRY [..]

Daily Market Comment – Dollar back in action as Fed considers another rate hike

Posted on May 15, 2023 at 8:58 am GMT

Dollar comes back to life after Michigan data and hawkish Fed remarks Rising yields inflict damage on Japanese yen, but gold finds dip buyers Demand concerns haunt oil prices, Turkish lira sinks after elections Dollar reawakens After getting battered and bruised for several months now, the US dollar might be on the cusp of a comeback. The greenback staged a furious recovery last week, drawing fuel from its safe-haven qualities as risk sentiment turned sour and from some survey data [..]

Technical Analysis – EURUSD falls into bearish control

Posted on May 15, 2023 at 7:21 am GMT

EURUSD traded muted near Friday’s one-month low of 1.0847 early on Friday after suffering its worst week since mid-September, having retreated from a one-year high of 1.1094. Technically, the bears pressed the price below key trendlines and beneath its 20- and 50-day exponential moving averages (EMAs), dampening hopes for a bullish continuation. The weekly chart is also witnessing a negative tendency as the pair seems to have completed a bearish doji candlestick pattern after failing to crawl above its 200-weekly EMA. Also, [..]

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