All Articles Tagged - EURUSD

Daily Market Comment – ECB hikes amid turmoil but opens door to pause, lifting markets

Posted on March 17, 2023 at 10:34 am GMT

ECB delivers what it promised but abandons forward guidance, euro climbs US banks pour $30 billion into troubled First Republic in rescue deal Stocks rise in relief rally, yields make unconvincing rebound, dollar slips But some caution today as triple witching looms Banking crisis fears ease after another rescue Equity markets globally were headed for painful losses for the week even as they scrambled to stage a relief rally on Friday. It’s been a challenge for investors to keep apace [..]

Daily Market Comment – Dollar gains as panic returns, ECB meets amidst banking crisis

Posted on March 16, 2023 at 9:15 am GMT

The dollar and the yen Wednesday’s main gainers Franc and euro lose the most ground on Credit Suisse fallout ECB decides on interest rates, with investors split on hike size Wall Street pares loses, but concerns remain Investors seek safety as Credit Suisse sparks more fears The dollar strengthened against all but one of the other major currencies on Wednesday. It lost ground only against the yen, as market participants entered panic mode again after Credit Suisse’s largest shareholder said [..]

Technical Analysis – EURUSD shows positive signs after strong selling interest

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

EURUSD is recouping some of the aggressive losses that it posted on Wednesday, adding almost 1% after the rebound off the 1.0530 support, which is overlapping with the 200-period exponential moving average (SMA) in the daily timeframe. However, the technical oscillators in the 4-hour chart are suggesting a potential recovery. The RSI is rising in the bearish region, while the MACD is still in the negative region, although it appears to have halted its decline. Should the pair manage to strengthen its positive momentum, [..]

Daily Market Comment – Markets rebound, then falter as fears grow over Credit Suisse

Posted on March 15, 2023 at 10:31 am GMT

SVB contagion fears continue to recede, spurring a global rebound in stock markets But the mood sours again as Credit Suisse shares sink, euro skids Treasury yields make a partial recovery, Fed rate hike path steepens only slightly US CPI not much help to wounded dollar as focus turns to ECB decision Risk appetite on the mend but new risks arise Investor jitters following the biggest US bank failures since the 2008 financial crisis abated further on Tuesday as a [..]

Technical Analysis – EURUSD rebounds and breaks above 1.0695

Posted on March 14, 2023 at 1:10 pm GMT

EURUSD rebounded strongly in the last few days, as the US dollar slumped on the back of concerns relating to the Silicon Valley Bank crisis. The pair found support near the 1.0530 barrier, which coincides with the 100- and 200-day exponential moving averages (EMAs), and emerged above the 1.0695 zone, which offered resistance between March 1 and 7. Overall, the pair continues to trade above the uptrend line drawn from the low of September 28, suggesting that the bulls could [..]

ECB meeting: Is a 50bps hike still a done deal? – Forex News Preview

Posted on March 14, 2023 at 11:30 am GMT

Following the sudden collapse of the Silicon Valley Bank (SVB) in the US, investors have become increasingly concerned about the health of the banking system as borrowing costs continue to rise. While they have dramatically scaled back their bets with regards to the Fed’s future course of action, they are also doubting whether the ECB should proceed as aggressively as it signaled at its latest policy meeting. Is the telegraphed 50bps hike indeed a done deal? And if it is, [..]

Daily Market Comment – Bank stocks pummelled but some calm restored ahead of US CPI

Posted on March 14, 2023 at 10:08 am GMT

Financial stocks remain pressured but broader selloff eases as panic subsides US inflation in the spotlight after sharp repricing of Fed rate hikes Gold and cryptos softer after surge, yields steadier, dollar edges up Bank rout turns global but wider equities rebound Equity markets were showing some signs of life on Tuesday following a brutal selloff in the preceding days that was led by a plunge in banking stocks triggered by the collapse of SVB and Signature Bank. Emergency measures [..]

Weekly Technical Analysis – USDJPY, EURUSD, AUDUSD

Posted on March 13, 2023 at 11:58 am GMT

This week the focus of attention will be on the US CPI figures, the ECB meeting and the Australian employment report and how USDJPY, EURUSD and AUDUSD may react. US CPI → USDJPY The US CPI figures are coming out on Tuesday and it will be crucial for traders, as they might determine whether FOMC members vote for a 25 bps or 50 bps rise at their March policy meeting. The month-over-month rises for both the headline and core CPIs are predicted at 0.4% in February. USDJPY is currently printing the fourth [..]

Technical Analysis – EURUSD battles with 50-day SMA

Posted on March 13, 2023 at 9:01 am GMT

EURUSD has been in a consolidation mode after breaking below its upward sloping channel pattern. Nevertheless, the pair has realised some gains in the past few daily sessions, with the 50-day simple moving average (SMA) capping its upside. The momentum indicators currently suggest that bullish forces have gained the upper hand. Specifically, the RSI has crossed above its 50-neutral mark, while the stochastic oscillator is ascending near its 80-overbought zone. If buying pressures persist, initial resistance could be met at the [..]

Week Ahead – US inflation, ECB decision to test markets’ nerve

Posted on March 10, 2023 at 12:16 pm GMT

The US inflation report and the European Central Bank’s policy meeting will share the limelight next week amid another round of ratcheting up of rate hike expectations by investors. Other critical data such as Chinese industrial output, Australian employment and New Zealand GDP estimates might thus get overshadowed. Meanwhile in the UK, it’s budget time again, although the event is not expected to generate as much volatility as last time. CPI report could make the case for 50-bps hike There’s [..]

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