All Articles Tagged - EURUSD

Daily Market Comment – Investors hit the panic button ahead of nonfarm payrolls

Posted on March 10, 2023 at 10:22 am GMT

Dollar turns its sights to another decisive US employment report Yen slips as Bank of Japan refuses to tighten, gold tries to recover Stock markets fall sharply as financial contagion fears infect banks Nonfarm payrolls, high stakes edition It has been a stormy week for financial markets, characterized by turmoil in interest rates and stocks. Some hawkish remarks by the Fed chief served as the trigger for this wave of volatility, after he warned that the ultimate level of interest [..]

Technical Analysis – EURUSD fragile despite support from 200-EMA

Posted on March 9, 2023 at 3:06 pm GMT

EURUSD remains supported around the 200-day exponential moving average (EMA) for the second consecutive day following Tuesday’s breakdown, aiming to repeat last week’s rebound at 1.0530. We do not consider the pair oversold at the moment as the RSI is some distance of 30, while the falling stochastic oscillator has not crossed below 20. Hence, a drop below the 1.0530 base and towards the ascending trendline drawn from the 2022 lows at 1.0400 is still possible. Moving lower, the bears may take a [..]

Daily Market Comment – Dollar rallies as Powell appears in a hawkish suit

Posted on March 8, 2023 at 8:40 am GMT

Fed Chair Powell stresses the need for higher rates Dollar rallies across the board, as Fed hike bets surge BoC is widely anticipated to stand pat today Wall Street feels the heat of Powell’s hawkish remarks Powell opens the door to higher and faster rate hikes The US dollar outperformed every other major currency on Tuesday and continued to gain against most of them today as well. The person responsible for the dollar’s rally was Fed Chair Jerome Powell, who [..]

Can nonfarm payrolls refuel the dollar’s rally? – Forex News Preview

Posted on March 7, 2023 at 3:12 pm GMT

Another high-stakes US employment report will be released on Friday. Most indicators point to another strong month for the labor market, although there’s a risk of some ‘payback’ following the sensational numbers last month. As for the dollar, the outlook seems positive in an environment of rising Fed bets, especially when considering the vulnerabilities in equity markets. Economic resilience The central theme in the markets this year has been the strength of the US economy. Incoming data continues to paint [..]

Daily Market Comment – Dollar loses steam ahead of Powell’s testimony

Posted on March 7, 2023 at 9:52 am GMT

Fed chief testifies before Congress, investors focused on his tone Aussie slides after cautious RBA rate hike, yen ignores softer data Stock markets little changed, waiting for Fed signals and US payrolls Powell appears before Congress The spotlight today will fall on Fed Chairman Powell, who will testify before the Senate Banking Committee at 15:00 GMT. Investors usually pay more attention to the Q&A session with lawmakers, where the Fed chief will face a grilling on the outlook for inflation [..]

Daily Market Comment – Gold and stocks recover as US yields cool off

Posted on March 6, 2023 at 9:58 am GMT

Gold and equities bounce back, capitalizing on retreat in US rates Dollar drifts lower despite strong data, pressured by cheerful mood Massive week lies ahead with three central banks and US payrolls Stocks ride bond waves Investors entered the new trading week in high spirits, as a calmer tone in bond markets helped to brighten the mood in other asset classes. Equity markets and gold prices enjoyed a huge rally on Friday and attempted to extend those gains on Monday, [..]

Technical Analysis – EURUSD faces limited bull pressure below 1.0700

Posted on March 6, 2023 at 8:39 am GMT

EURUSD started the week with minor gains, trading at the crossroads of the 20- and 50-day exponential moving averages (EMAs) at 1.0660, which have been navigating the price southwards over the past month. Previously, the pair refused to close below January’s low and the 200-day EMA, reducing the risk of a worsening outlook in the medium-term picture. Technically, there might be more push for improvement in the coming sessions as the RSI is strengthening its uptrend in the bearish area, [..]

Is it time for Fed Chair Powell to appear in a hawkish suit? – Forex News Preview

Posted on March 6, 2023 at 7:22 am GMT

Market pricing about the Fed’s future course of action has dramatically changed lately, following a streak of upbeat US economic data and hotter-than-expected inflation numbers for January. Several Fed officials have become more vocal about the need for more aggressive action hereafter, but a big question is whether Fed Chair Powell has ditched his disinflationary view following the data. With that in mind, investors will closely watch his testimony before Congress on Tuesday and Wednesday. Streak of January data boosts [..]

Daily Market Comment – Dollar slips from highs ahead of ISM services as stocks defy soaring yields

Posted on March 3, 2023 at 10:11 am GMT

Dollar eases from highs as yields rally pauses for breath ahead of ISM services PMI But Wall Street bounces back as Fed officials hint at ‘steady as she goes’ approach Euro fights back as ECB hawkish soundbites keep coming, yen mixed on BoJ doubts Supercharged bond yields take a breather Government bond yields in Europe and the United States scaled new heights this week as investors were once again caught off guard by fresh evidence of persisting inflationary pressures. Most [..]

Daily Market Comment – Dollar slides on Chinese data, euro awaits inflation numbers

Posted on March 2, 2023 at 9:25 am GMT

Dollar slips as Chinese PMIs spark risk-on mood But pares losses after ISM manufacturing PMI data Euro traders await Eurozone inflation numbers Rising Fed hike bets hurt Wall Street Dollar drops on China PMIs, but Fed hike bets increase on ISM PMI The US dollar traded lower or unchanged on Wednesday, losing the most ground against the kiwi, the euro and the aussie in that order. Today, it is in a recovery mode against all the other majors. The greenback [..]

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