All Articles Tagged - EURUSD

US retail sales climb to the top of investors’ agenda – Forex News Preview

Posted on May 12, 2023 at 1:23 pm GMT

After Wednesday’s US inflation numbers added credence to the view that the Fed may be forced to cut interest rates later this year, the next focal data set may be the US retail sales for April, due to be released on Tuesday. Industrial production for March, as well as some housing data for the month of April are also in next week’s calendar. Will all these releases help alleviate worries over a potential recession? How will they affect Fed policy [..]

Week Ahead – Focus on US retail sales as debt ceiling drama rumbles on

Posted on May 12, 2023 at 10:25 am GMT

With no central bank decisions on the menu next week, investors will turn to data releases. Top of the list is the US retail sales report, which will help shape expectations about the Fed’s rate path, driving the dollar accordingly. There is also an onslaught of economic data from most major economies to keep traders busy, alongside an election in Turkey and the ongoing drama around the US debt ceiling. Can the dollar shake off the blues? It’s been a [..]

Daily Market Comment – Dollar gains despite increasing Fed cut bets

Posted on May 12, 2023 at 8:07 am GMT

Jobless claims jump to a 1-1/2-year high Dollar attracts haven flows, but too early for reversal BoE hikes, revises up inflation and GDP projections Dow and S&P 500 reflect worries, Nasdaq stays supported Dollar takes safe-haven suit out of the closet The US dollar outperformed every other major currency yesterday, despite US data adding to worries about the US economy and prompting investors to increase bets with regards to rate reductions by the Fed later this year. Initial jobless claims [..]

Daily Market Comment – US inflation dips below 5% but dollar quickly bounces back

Posted on May 11, 2023 at 9:03 am GMT

US CPI eases to two-year low, fuelling Fed rate cut expectations Yields decline but dollar advances after limited selloff Pound in the spotlight today as BoE expected to hike again Fed pause looking more likely after CPI dip Despite some concerns that inflation would quicken in April, the latest CPI readings signalled continued progress for the Fed in its fight to restore price stability. The US consumer price index rose by 4.9% y/y last month, missing expectations that the rate [..]

Technical Analysis – EURUSD slips aggressively around 1.0900

Posted on May 11, 2023 at 8:16 am GMT

EURUSD is plunging beneath the 200-period simple moving average (SMA) and the crucial line of 1.0940. As the pair continues to exhibit its negative structure and the technical oscillators also confirm this view, the outlook is turning to a more bearish one. The RSI is pointing down beneath the 50 level, while the MACD is extending its negative momentum below its trigger and zero lines. More losses could open the door for a rest around the 1.0910 support ahead of the 1.0830 barrier that would endorse [..]

Daily Market Comment – US inflation report awaited for direction as stocks, dollar drift

Posted on May 10, 2023 at 9:05 am GMT

Nerves kick in as debt ceiling talks drag on, uncertainty builds ahead of US CPI Dollar pares some gains, euro bounces off lows but lacks momentum Wall Street slides as bank stocks remain under pressure, default risks rise Caution sets in before inflation data Markets continued to struggle for direction on Wednesday amid some anxiety ahead of the April inflation report out of the United States later in the day and an ongoing stalemate in Congress over raising the debt [..]

Daily Market Comment – Dollar receives mild support ahead of CPI data

Posted on May 9, 2023 at 7:49 am GMT

Dollar rises as Fed survey eases recession fears Risk-linked currencies gain more on improving sentiment Spotlight turns to US CPI numbers Wall Street trades mixed ahead of the data Fed loan survey lends mild support to the US dollar The US dollar gained some ground versus the euro, the pound, and the yen yesterday, but underperformed against the risk-linked aussie, kiwi and loonie. The greenback is slightly outperforming most of its peers today. Traders may have decided to buy some [..]

Can US inflation data turn the tide in the dollar? – Forex News Preview

Posted on May 8, 2023 at 1:42 pm GMT

With the Fed’s final rate increase now likely in the rear-view mirror and the markets pricing in decent chances for the central bank to cut rates by July, the spotlight will fall squarely on the next round of US inflation data out on Wednesday. Forecasts point to a slowdown in core CPI, although business surveys signaled the opposite. As for the dollar, it has been trading ‘heavy’ lately and it is doubtful whether even an upside surprise in this dataset [..]

Technical Analysis – EURUSD keeps focus on 1.1100

Posted on May 8, 2023 at 12:05 pm GMT

EURUSD has not abandoned hopes for a bullish continuation yet as the pair stayed supported around the 1.1000 level despite last week’s pullback. Encouragingly, the constraining ascending line drawn from October 2022 has been cooling downside pressures over the past three weeks, navigating the market softly higher along with the 20-day exponential moving average (EMA). Yet, some caution is necessary as the 1.1060-1.1100 ceiling is still overhead, while the RSI and the MACD keep showing a bearish divergence against the market trend. If the [..]

Weekly Technical Analysis – GBPUSD, EURUSD, AUDUSD

Posted on May 8, 2023 at 9:53 am GMT

This week the focus of attention will be on the Bank of England’s policy decision, the US CPI data and the China CPI so the instruments to have in mind are GBPUSD, EURUSD and AUDUSD and how they may react. BoE decision → GBPUSD The Bank of England’s policy meeting will take place on Thursday at 11:00 GMT. A rate increase of 25bps is already priced in, so attention will shift to any indications or announcements about future policy. As a result, the pound is unlikely to react [..]

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