All Articles Tagged - EURUSD

Daily Market Comment – Dollar’s woes deepen ahead of US retail sales data, stocks rejoice

Posted on April 14, 2023 at 8:57 am GMT

US dollar slumps to one-year low as soft data bolsters case for Fed pause Wall Street rallies on Fed bets, but bank earnings pose a downside risk Fed-ECB divergence pushes euro towards $1.11, yen selloff eases Fed pause seen more likely after latest US data batch It’s been another week of underwhelming data releases out of the United States, and after the latest figures on consumer and producer prices added to the softening economic picture highlighted by last week’s ISM [..]

Week Ahead – Avalanche of data releases to keep traders busy

Posted on April 13, 2023 at 10:04 am GMT

There are no major central bank decisions scheduled for next week, but that doesn’t mean markets will be quiet as there’s a ton of data releases that can fuel volatility. The highlight will be China’s economic growth, which will reveal exactly how powerful the reopening boost was. Meanwhile in Europe, the latest business surveys could decide whether the euro’s rally still has some miles left in the tank. China set for growth rebound The world’s second-largest economy has been battered [..]

Daily Market Comment – Dollar extends fall as CPI data and Fed minutes corroborate pivot bets

Posted on April 13, 2023 at 7:45 am GMT

Headline CPI rate drops by a full percentage point, core ticks up Investors still expect another 25bps hike, but maintain rate cut bets Fed minutes reveal that some officials considered pausing Dollar slips as investors continue to see rate cuts later this year The US dollar extended its slide against all the other major currencies yesterday after the March CPI data revealed that headline inflation in the US slowed by more than anticipated and after the minutes from the latest [..]

Technical Analysis – EURUSD tries to retest 1.0970; neutral in the medium-term

Posted on April 12, 2023 at 12:44 pm GMT

EURUSD is gaining steam as it approaches the 1.0970 resistance level again after the drop near the 20-day simple moving average (SMA). The pair is stabilizing within a range with 1.0970 as the upper boundary and 1.0530 as the lower barrier on a medium-term timeframe. The pair may remain bullish in the longer term as it holds above the uptrend line created on September 28. In the event of an upside rally, the pair is anticipated to see buyers near the 1.0970 level, [..]

Daily Market Comment – Dollar slides ahead of US inflation data and Fed minutes

Posted on April 12, 2023 at 7:32 am GMT

Dollar slides as traders seem reluctant to buy ahead of CPI figures Wall Street mixed ahead of today’s data, bank earnings on Friday Gold climbs back above $2,000 on the back of a weak dollar Bank of Canada decision also on tap US CPI numbers and FOMC minutes enter the spotlight The US dollar traded lower against almost all the other major currencies on Tuesday and continued to underperform on Wednesday as well. With no clear catalyst behind the weakness, [..]

Daily Market Comment – Wall Street and dollar see-saw as Fed rate path steepens

Posted on April 11, 2023 at 8:15 am GMT

US stocks stage late rebound despite ratcheting up of Fed rate hike bets Asian mood also perks up as regional central banks seen on pause Dollar extends post-NFP gains before easing again; US CPI the main focus US equities attempt a come-back ahead of earnings Wall Street experienced a see-saw session on Monday as traders had the first chance to respond to Friday’s NFP report when the market was closed for the Easter break. The S&P 500 and Nasdaq both [..]

Daily Market Comment – Muted response to solid jobs report as focus quickly shifts to US CPI

Posted on April 10, 2023 at 8:51 am GMT

Dollar firms as May rate hike seen more certain after another healthy gain in US jobs Yet, overall reaction has been muted amid thin trading during long Easter weekend But volatility set to return as US CPI report due this week, plus the BoC decision NFP report clears Fed path for May, still clouded thereafter The resilience of the US labour market was once again on full display on Friday after another solid payrolls print eased heightened recession fears that [..]

Technical Analysis – EURUSD loses ground around 1.0900

Posted on April 10, 2023 at 6:31 am GMT

EURUSD is losing momentum after the climb towards the 1.0970 resistance level, dropping back below the 1.0900 psychological mark. In the medium-term timeframe, the pair is consolidating within a range, with upper boundary 1.0970 and lower boundary the 1.0530 barrier. However, in the longer timeframe, the pair is still bullish as it is holding above the uptrend line, drawn on September 28. From the technical perspective, the MACD oscillator is holding near its trigger line in the positive region, while [..]

Technical Analysis – EURUSD tests March’s resistance

Posted on April 7, 2023 at 11:43 am GMT

EURUSD was muted around the key 1.0940 resistance, in quiet trading on Friday ahead of the US nonfarm payrolls report, having almost retraced its 2023 downfall to reach the 50% Fibonacci retracement of the 2020-2022 downtrend as well. The RSI and the MACD are showing that buying appetite is fizzling out as the former seems unable to post fresh higher highs within the bullish area, while the latter is flatlining above its red signal line. Yet, with the indicators standing comfortably above their neutral levels, the bulls may not give up [..]

Daily Market Comment – Nonfarm payrolls set to rattle deserted markets

Posted on April 7, 2023 at 9:31 am GMT

Nonfarm payrolls report coming up, early indicators flash mixed signals Most markets will remain closed today, so FX is the main game in town Wall Street recovers after another round of soft data cements rate-cut bets All eyes on US payrolls Investors are in for a stormy ride today, as the latest US employment report will be rolled out into a market that is deprived of liquidity. Many traders are away from their desks for the Good Friday holiday and [..]

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