All Articles Tagged - EURUSD

Daily Market Comment – Dollar eyes weekly gain, but Fed pivot bets increase

Posted on April 21, 2023 at 8:43 am GMT

Disappointing US data revives Fed pivot speculation ECB to stay the course on rate hikes Yen enjoys safe-haven flows, inflation data also help Wall Street skids after gloomy earnings Investors see one more Fed hike, but still expect rate cuts The US dollar slid against most of its counterparts on Thursday, but it seems to be regaining ground today. Following hawkish remarks by Fed Governor Waller last Friday, investors became more confident that another hike will be delivered in May [..]

Technical Analysis – EURUSD flirts with medium-term uptrend line

Posted on April 21, 2023 at 7:18 am GMT

EURUSD is moving sideways in the very short-term after the failed attempt to jump above the 1.0990 resistance level, but it is still standing above the medium-term ascending trend line in the 4-hour chart. Currently, the market is easing beneath the 20- and the 40-period simple moving averages (SMAs) with the technical oscillators also suggesting a bearish move. The RSI is dropping beneath the neutral threshold of 50; however, the MACD is consolidating near the zero level with weak momentum. [..]

Daily Market Comment – Gold finds dip buyers, oil begins to fill OPEC gap

Posted on April 20, 2023 at 9:10 am GMT

Gold refuses to decline as central bank demand remains in play Drop in oil prices hits Canadian dollar, Tesla earnings disappoint Focus turns to onslaught of Fed speakers and Japanese inflation Gold defends key region There wasn’t much in the way of news catalysts to steer global markets yesterday, leaving capital flows and risk appetite as the primary drivers of market action. Most major FX pairs closed near their opening levels, with the exceptions being the Canadian dollar and the [..]

Technical Analysis – EURUSD traders appear willing to extend the uptrend

Posted on April 19, 2023 at 2:53 pm GMT

EURUSD went into retreat mode last week, after it hit resistance slightly above the key resistance zone of 1.1035, marked by the peak of February 2. However, just yesterday, some buyers were interested in picking up the pair again and taking it closer to that territory. Overall, EURUSD is trading above the uptrend line drawn from the low of September 28 and above all three of the plotted moving averages, which paints a positive short-term picture. The RSI, already above [..]

Eurozone PMIs eyed as ECB ponders size of next rate hike – Forex News Preview

Posted on April 19, 2023 at 11:28 am GMT

Having defied recession predictions, the Eurozone economy will attract some headlines on Friday when the latest flash PMI readings are due (08:00 GMT). Growth in the euro area has been slowly gaining momentum since late 2022 when the impact of the energy crisis started to dissipate. But there are some doubts as to how strongly the economy can bounce back when interest rates continue to go up. With the European Central Bank’s next policy decision approaching, how important will the [..]

Weekly Technical Analysis – EURUSD, USDJPY, NZDUSD

Posted on April 19, 2023 at 9:34 am GMT

The highlights on the remainder of this week’s agenda could be the Eurozone PMIs, as well as the Japanese and New Zealand CPIs. So, traders are likely to be interested in how EURUSD, USDJPY and NZDUSD may react. Eurozone PMIs -> EURUSD On Friday, euro traders will be looking in the business surveys for clues as to whether the performance of the euro area economy warrants more hikes by the ECB. EURUSD pulled back recently, but it continues to trade [..]

Daily Market Comment – Sterling leaps higher after inflation stats, yen in trouble

Posted on April 19, 2023 at 9:24 am GMT

Hot UK inflation print adds fuel to BoE rate bets, lifting pound Yen gets scorched by revival in US yields, but dollar can’t rally Stock markets in cheery mood ahead of Tesla earnings today Sterling capitalises on inflation scare The British pound was in a jolly good mood on Wednesday after the nation’s latest inflation report came in hotter than expected, cementing investor bets that the Bank of England will keep raising interest rates to put the inflation genie back [..]

Daily Market Comment – China GDP rebound adds some cheer, dollar slips but stocks waver

Posted on April 18, 2023 at 9:03 am GMT

Strong Chinese GDP data calms but does not quell fears about growth Asian stocks mixed, European shares climb, higher yields weigh on Wall Street Dollar off highs, pound and aussie lifted by UK jobs data, hawkish RBA minutes Is China’s economy back on track? The economic recovery in China appears to be gaining tract as GDP expanded by a stronger-than-expected 4.5% in the first quarter of 2023, beating forecasts of 4.0%. At a quarterly level, growth quickened to 2.2% from [..]

Daily Market Comment – Recession fears weigh as Fed stays hawkish after poor US retail sales

Posted on April 17, 2023 at 8:47 am GMT

US retail sales disappoint but Fed does not budge on its hawkish stance Dollar holds firm after Friday’s gains, stocks find some support from strong bank earnings But markets overall steady as busy data and earnings week gets underway Weak data revives recession jitters Recession fears are elevated after retail sales figures out of the United States on Friday pointed to slowing consumer demand in the world’s largest economy. Headline retail sales slumped by a worse-than-expected 1.0% in March compared [..]

Technical Analysis – EURUSD makes one-year high; bears prepare their response

Posted on April 17, 2023 at 7:09 am GMT

The EURUSD rally that started after the September 28, 2022 low of 0.9535 made a new higher high at 1.1075, surpassing the February 2, 2023 high of 1.1032. It has not been a one-way street higher, but euro bulls managed to recover from the early March 2023 dip. The recent price action appears to have formed a nicely structured double-top pattern, but euro bears should wait for confirmation. Specifically, a move lower and a subsequent break of the 1.0523 area, [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

EURUSD

XM Live Chat