All Articles Tagged - EURUSD

Week Ahead – Jackson Hole and PMIs enter the spotlight

Posted on August 15, 2024 at 1:50 pm GMT

As recession fears ease, investors lock gaze on Jackson Hole Eurozone and UK PMIs to affect ECB and BoE expectations Canadian inflation could back third consecutive BoC cut Japan’s Nationwide CPI data also on the agenda Jackson Hole to test overly dovish Fed cut bets Following the unjustified panic triggered by the weaker-than-expected NFP report for July, investors have taken a calmer stance, thereafter, reevaluating their aggressive Fed rate cut bets as the incoming data suggested that the US economy [..]

Technical Analysis – EURUSD returns to its bullish race

Posted on August 14, 2024 at 3:26 pm GMT

EURUSD accelerates for the second consecutive day; hits the highest level since December 2023 Overbought signals detected but not confirmed yet; bulls need a close above 1.1045 EURUSD spiked to a new eight-month high of 1.1045 in the aftermath of a slightly weaker-than-expected US CPI report on Wednesday, extending Tuesday’s impressive rally which led the price above the tough trendline zone of 1.0950-1.0975. The 1.1045 area capped bullish actions a couple of times during 2023 and it could resume its resistance [..]

Market anxiety fades but volatility remains high – Volatility Watch

Posted on August 13, 2024 at 11:22 am GMT

FX volatility smoothens a little bit as markets digest rate path repricing Volatility in commodities still high amid resurgence of geopolitical tensions Stock indices and Bitcoin still volatile while traders unwind bearish bets Recession concerns from a weaker-than-expected NFP report two weeks ago have been fading, though they led to notable adjustments in expectations about major central banks’ interest rate paths. For that reason, volatility in FX pairs has been elevated, albeit a tad softer than last week. The yen crosses remain the most volatile as the BoJ has scrapped [..]

Technical Analysis – EURUSD bulls don’t want to give up

Posted on August 13, 2024 at 8:29 am GMT

EURUSD maintains sideways move as 1.0940 barrier blocks the way up Technical risk is on the positive side; eyes on 1.0970 too US PPI due at 12:30 GMT; FOMC member Bostic speaks today EURUSD continues to face restrictions near the 1.0940 level and the resistance trendline from July 2023, which squeezed the price below a seven-month low of 1.1007 last week. The RSI has yet to reach overbought levels, remaining elevated within the bullish area. Similarly, the MACD is staying [..]

US CPI and retail sales data to test Fed rate cut bets – Preview

Posted on August 12, 2024 at 12:43 pm GMT

Investors panicked after NFP report But incoming data eased fears and rate cut bets Still, market pricing remains overly dovish Focus turns to US CPI on Wednesday and retail sales on Thursday, at 12:30 GMT Latest data ease recession fears Following the weaker-than-expected US employment report for July, market participants entered panic mode as recession fears resurfaced. The dollar tumbled, the commodity-linked currencies suffered, the yen extended its rally, and stocks slipped. However, incoming data after the jobs numbers suggested [..]

Is the US data that bad to justify a rate cut? – Special Report

Posted on August 9, 2024 at 12:03 pm GMT

The recent acute market reaction occurred due to increased recession fears Surprise indices point to a more balanced US economic situation Recessions tend to be caused by one-off major events The recent market drop has been attributed to higher chances of a US recession It has been a very volatile period in markets. The recent higher-than-expected rate hike by the BoJ caused a knee-jerk reaction in Japanese stock markets that led to the yen making significant gains across the board. [..]

Market Comment – Yen weakens as positive market sentiment lingers

Posted on August 7, 2024 at 7:43 am GMT

Markets continue to recover led by the Nikkei 225 index BoJ comments result in yen underperformance Light calendar again today, focus on geopolitics Kiwi benefits from strong labour market data The Nikkei 225 index sets the tone for recovery The positive momentum persisted yesterday as the key US stock indices finished in the green, recovering a tad from Monday’s lows. Euro/dollar continues to drift lower at the time of writing with the 10-year US Treasury yield hovering around the 3.9% [..]

Market angst pushes volatility higher across the board – Volatility Watch

Posted on August 6, 2024 at 10:34 am GMT

Euro/dollar volatility skyrockets as recession fears resurface Volatility in commodities jumps as geopolitics takes centre stage Stock indices experience much stronger volatility, decoupling from Bitcoin Volatility in the main FX pairs, including euro/dollar, jumped to the highest level of the past month as fears of recession, on the back of last Friday’s weak US labour market report, resulted in the market pricing in an aggressive easing path for most central banks during 2024. Yen pairs continue to attract extra interest [..]

Market Comment – Markets breathe easier but will it last?

Posted on August 6, 2024 at 8:00 am GMT

Slightly more positive tone in equity markets today Fear of recession fuels Fed rate cut expectations Light calendar today, focus on data during Asian session RBA remains hawkish, considers rate hike US stock markets set the tone for recovery With the US stock markets recovering slightly yesterday, the overall market sentiment is more positive today. After three disastrous sessions, the Nikkei 225 equity index is in the green at the time of writing, partly assisted by the strong labour cash [..]

Technical Analysis – EURUSD has its best time of the year

Posted on August 5, 2024 at 3:37 pm GMT

EURUSD changes trajectory to the upside; jumps above 1.1000 Technical signals favor the bulls, but confirmation needed above 1.0940-1.0960 EURUSD marked its strongest daily performance of the year when downbeat US jobs data rekindled fears of a hard landing last Friday. The pair gained extra bullish traction on Monday, extending its post-NFP rally to 1.1007 – the highest level since January. From a technical perspective, there is room for more improvement as the RSI is sloping upwards above its 50 neutral [..]

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