All Articles Tagged - EURUSD

Technical Analysis – EURUSD retains weak bias in near-term ahead of Fed minutes

Posted on February 22, 2023 at 2:02 pm GMT

EURUSD is trading below the 1.0660 key level and is approaching the medium-term uptrend line around 1.0570. The 20- and 50-day simple moving averages (SMAs) are pointing down as well with a potential bearish crossover on the cards. The RSI is standing below the neutral threshold of 50 and the MACD is moving sideways, both suggesting weak momentum. If price action remains below 1.0660, there is scope to test the ascending line at 1.0570. Clearing this key level would see additional losses towards 1.0480. This [..]

Daily Market Comment – Dollar extends gains after PMIs, awaits Fed minutes

Posted on February 22, 2023 at 9:12 am GMT

Dollar strengthens as better PMIs add to Fed hike bets Eurozone and UK PMIs also surprise to the upside Equities and risk-linked currencies feel the heat of hike bets Better PMIs fuel Fed hike bets and the dollar, Fed minutes on tap The dollar traded higher against all but one of the other major currencies yesterday, although it is trading mixed today. The only currency against which the greenback lost ground was the British pound. Following a streak of upbeat [..]

Daily Market Comment – Dollar creeps higher, stocks retreat as caution kicks in

Posted on February 21, 2023 at 10:05 am GMT

Dollar advances against risk-linked currencies, helped by rising yields Stocks retreat, investors face ‘reality check’ on expensive valuations European PMIs point to fading recession risks, RBNZ decision next Dollar gains as risk appetite sours A theme of dollar strength is coursing through the FX market, driven by the relentless advance in short-term US yields and the cautious tone in equity markets. Expectations around Fed policy underwent a massive repricing lately, after a string of encouraging US data releases convinced investors [..]

Dollar eyes Fed minutes and PCE inflation after lacklustre rebound – Forex News Preview

Posted on February 21, 2023 at 7:19 am GMT

The US dollar has come off the back foot after a series of strong data and hawkish Fed talk, but is there scope for a more substantial recovery? The minutes of the Fed’s January 31-February 1 meeting out on Wednesday (19:00 GMT) will guide traders through to Friday when the all-important PCE inflation figures are due (13:30 GMT). Personal income and consumption readings for January will be vital too as the debate about whether the American economy can avoid a [..]

Weekly Technical Analysis – USDJPY, NZDUSD, EURUSD

Posted on February 20, 2023 at 1:39 pm GMT

This week the highlight will be on the Fed minutes, the first RBNZ interest rate decision of the year and the Eurozone flash PMIs, while the focus may turn on the reaction of USDJPY, NZDUSD and EURUSD. Fed minutes → USDJPY The FOMC minutes will take up most of the attention on Wednesday with Fed officials have been much more hawkish since this meeting. USDJPY is flirting with the 134.75 resistance level again and the short-term SMAs posted a bullish crossover suggesting more gains. RBNZ [..]

Daily Market Comment – Mounting Fed bets cannot propel dollar higher

Posted on February 20, 2023 at 10:05 am GMT

Dollar unable to capitalize on ‘higher for longer’ Fed bets Yen and gold feel the heat of rising US yields instead Stocks remain resilient, but risk/reward is unattractive Dollar lethargic despite Fed speculation A series of powerful US economic data releases this month dispelled concerns about an economic slowdown, engineering a massive repricing of Fed policy. Incoming data revealed the labor market is still booming, consumer demand is resilient, and inflationary pressures are not abating fast enough – fueling speculation [..]

Technical Analysis – EURUSD extends pullback below 50-day SMA

Posted on February 20, 2023 at 8:50 am GMT

EURUSD has been on a steep uptrend after finding its feet at the 20-year low of 0.9535, storming to a fresh 10-month high in early February. However, the pair experienced a moderate downside correction, with the price diving below its 50-day simple moving average (SMA) in the last couple of daily sessions. The momentum indicators currently suggest that bearish forces have gained the upper hand. Specifically, the RSI has flatlined beneath its 50-neutral mark, while the MACD histogram is weakening further [..]

Can Eurozone PMIs recover further in February? – Forex News Preview

Posted on February 17, 2023 at 12:00 pm GMT

The Eurozone economy has been showing some signs of improvement over the last three months but is not out of the woods yet. Will the flash PMIs for February point to a further rebound when released on Tuesday at 09:00 GMT? The euro has been consolidating this month as markets re-evaluate how many additional rate hikes are in the pipeline by the Federal Reserve. Can the data put the single currency back on the front foot against the resurgent US [..]

Week Ahead – Fed minutes and RBNZ decision coming up

Posted on February 17, 2023 at 10:41 am GMT

Investors will receive another dose of crucial data releases next week that can fuel FX volatility. The highlight will be the minutes of the last FOMC meeting, where there’s a risk that policymakers strike a different tone than Powell did back then. Over in New Zealand, the central bank is about to roll out another rate hike. Meanwhile, the latest set of business surveys will provide a timely update on the health of the global economy. Dollar tries to capitalize [..]

Daily Market Comment – Dollar stays strong, pound plummets as UK inflation eases

Posted on February 16, 2023 at 9:09 am GMT

US retail sales rebound strongly, adding to soft landing hopes Dollar climbs higher as investors maintain Fed hike bets Pound falls as slowing inflation alleviates pressure on BoE Equities gain, but gold extends decline US retail sales rise most in two years, dollar extends gains The US dollar continued to march north on Wednesday, outperforming all the other major currencies, although it pulled back somewhat today. What added extra fuel to the dollar’s engines may have been the hotter-than-expected US [..]

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