All Articles Tagged - EURUSD

Technical Analysis – EURUSD extends sideways move, failing to post higher high

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

EURUSD had been in a steady uptrend after finding its feet at the March low of 1.0515. Even though the pair posted a fresh 13-month peak of 1.1094 in late April, it has been rangebound since then, appearing unable to generate a fresh higher high and resume its uptrend. The short-term oscillators are endorsing a cautiously bullish bias. Specifically, the MACD is softening but remains above both zero, while the RSI has flatlined above its 50-neutral mark. If buyers re-gain total [..]

Daily Market Comment – Nonfarm payrolls set to unleash more volatility

Posted on May 5, 2023 at 8:41 am GMT

US employment data in focus today, most signs point to a solid report ECB raises rates and strikes hawkish tone, but euro trades lower Cable hits one-year high, gold near new record, Apple beats earnings NFP seems solid, can USD capitalize? A tempestuous week for global markets will come to a crescendo today with the latest round of US employment data. Another solid report is anticipated, with nonfarm payrolls expected to clock in at 180k in April, less than the [..]

Daily Market Comment – Fed hints at possible pause; ECB enters the spotlight

Posted on May 4, 2023 at 7:36 am GMT

Fed hikes by 25bps, but turns data dependent Dollar extends slide as investors price in a June pause ECB to hike by 25bps as well, focus could fall on Lagarde Wall Street and oil prices slide, gold nearly hits its record Dollar falls as Fed seen pivoting during summer The US dollar continued to weaken across the board yesterday, with the slide extending into the Asian session today as the Fed watered down its forward guidance, prompting investors to price [..]

Technical Analysis – EURUSD retests 13-month high ahead of ECB meeting

Posted on May 4, 2023 at 6:55 am GMT

EURUSD is attempting once more to climb above the 13-month high of 1.1095, endorsing the long-term upside structure. This outlook is reinforced by the RSI, which is rising and remaining above its neutral threshold of 50. In addition, the stochastic oscillator displayed a bullish crossover between its %K and %D lines and is approaching the overbought area. In the event of an upward price movement, the immediate 13-month high of 1.1095 that coincides with the 200-weekly simple moving average (SMA) [..]

ECB set to raise rates, but by how much? – Forex News Preview

Posted on May 3, 2023 at 1:16 pm GMT

All eyes will be on the European Central Bank rate decision on Thursday at 12:15 GMT. A rate increase is all but certain, yet its size is still up for debate. Market pricing is leaning towards 25bps, but some traders are still betting on a bigger 50bps move. The compromise might be the smaller rate hike accompanied by hawkish language, which could take some steam out of the high-flying euro. Euro shines bright The euro has been among the best-performing [..]

Daily Market Comment – Dollar on the back foot ahead of Fed decision

Posted on May 3, 2023 at 7:51 am GMT

US debt default and banking sector concerns hurt the dollar Fed to hike, focus to fall on forward guidance Wall Street in defensive mode ahead of Fed Dollar slides on debt ceiling and banking sector anxiety The US dollar weakened against most of its major peers on Tuesday and continued losing ground today amid concerns about a potential US debt default and a reminder that the troubles in the banking sector are not totally over yet. US Treasury Secretary Janet [..]

Daily Market Comment – Surprise rate hike boosts Australian dollar, yen hits 15-year lows

Posted on May 2, 2023 at 8:59 am GMT

Yen sinks to 15-year low against euro, decimated by central bank divergence Reserve Bank of Australia surprises with rate increase, lifting local dollar All eyes on Eurozone inflation today, size of ECB rate hike hangs in balance Yen gets scorched The Japanese yen has taken heavy damage lately, hitting a fresh 15-year low against the euro this week. Momentum in euro/yen has been quite impressive, with the pair breaching the 150 psychological region with some force to extend the incredible [..]

Will the Fed hike rates for the last time? – Forex News Preview

Posted on April 28, 2023 at 1:17 pm GMT

On Wednesday, the FOMC is widely anticipated to deliver its last rate hike for this tightening cycle. However, with inflation staying well above the Committee’s target and underlying price pressures proving stickier than expected, will policymakers feel comfortable to signal that they are done? Or will they keep the door to more hikes open? And how may the dollar react? Investors don’t listen to the Fed At the last FOMC gathering, Fed officials delivered another 25bps hike, but due to [..]

Week Ahead – Fed and ECB decisions set the stage for US payrolls

Posted on April 28, 2023 at 10:59 am GMT

An explosive week lies ahead for global markets, featuring central bank decisions in the United States, Eurozone, and Australia, alongside the latest edition of nonfarm payrolls. The Fed is expected to raise interest rates one final time, so the dollar will react mostly to any signals around future action. But the euro might enjoy even greater volatility, as traders are split on the size of the upcoming ECB rate increase. Fed to play its final card The US economic machine [..]

Daily Market Comment – Yen sinks after BoJ leaves policy unchanged, dollar shrugs off GDP miss

Posted on April 28, 2023 at 9:24 am GMT

BoJ tweaks guidance but long review dampens bets of near-term policy overhaul Yen tumbles, adding to dollar’s upside after core PCE deflator accelerates in Q1 Strong earnings lift Wall Street despite ongoing recession risks Ueda saves the big guns for another day The Bank of Japan kept its monetary policy settings mostly unchanged on Friday, deciding not to rattle the markets on Governor Kazuo Ueda’s first chairing of the meeting. The decision was widely expected as it was well telegraphed [..]

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