All Articles Tagged - EURUSD

Daily Market Comment – Fed Chair Powell halts dollar rally

Posted on February 8, 2023 at 9:16 am GMT

Fed Chair Powell reiterates disinflation remarks Dollar slides as investors revise their implied rate path slightly lower Eurozone inflation expectations edge up Dollar retreats as Powell fails to appear more hawkish The US dollar traded lower against most of its major counterparts on Tuesday, giving back a small portion of the gains it recorded in the aftermath of Friday’s astounding employment report. The greenback remains on the back foot today as well. The person responsible for the dollar’s retreat was [..]

Central banks actions – what is the market pricing in for the remainder of 2023? – Special Report

Posted on February 7, 2023 at 3:02 pm GMT

The first round of central bank meetings for 2023 has been completed. The RBA was the latest one to meet and, as widely expected, it announced a 25bps rate hike, carrying the torch from the ECB. A total of 175 bps of rate hikes have been announced since the start of 2023 by the seven central banks we have analyzed in this report, and the plan for most central banks is to continue tightening their monetary policy. Now that the dust has settled from [..]

Daily Market Comment – Caution ahead of Powell after RBA’s hawkish drumbeat

Posted on February 7, 2023 at 10:21 am GMT

Equity markets struggle to get back on their feet after hawkish Bostic and RBA Dollar holds near one-month highs, aussie jumps as RBA flags more rate hikes Yen perks up on wage data, gold firmer ahead of Biden’s State of the Union speech Stocks make limited headway as Powell looms large Trading got off on a somewhat steadier note on Tuesday, with some equity markets turning positive, while the US dollar’s rebound appeared to run out of steam. But the [..]

Technical Analysis – EURUSD keeps moving south after failed attempt to close above 1.1000

Posted on February 6, 2023 at 2:37 pm GMT

EURUSD erased February’s gains after Friday’s job report and fell below its 20-day simple moving average (SMA). The pair opened today with a negative gap and is approaching the lower boundary of the medium-term ascending channel. The MACD is losing momentum below its trigger line, while the RSI is diving beneath the neutral threshold of 50. To the downside, the 50-day SMA and the rising trendline drawn from mid-November is the first support to have in mind. If the current selling pressure breaks [..]

Week Ahead – RBA next to hike, UK might avoid a recession (for now)

Posted on February 3, 2023 at 12:56 pm GMT

After the past week’s central bank bonanza, things will quieten down in the coming days, although not completely, as the Reserve Bank of Australia will keep the rate hike theme running. On the data front, the highlights will be Canada’s employment report and the first look at UK GDP in the final quarter of 2022. US indicators will be sparse, giving the dollar little to go on as it bounces back from the knock it took from the not-so-hawkish Fed [..]

Daily Market Comment – Euro and pound slide after ECB and BoE, NFPs enter the limelight

Posted on February 3, 2023 at 9:18 am GMT

ECB’s Lagarde signals another 50bps hike in March BoE’s Bailey says inflation is turning the corner Investors lock gaze on US jobs data ECB President Lagarde appears in hawkish suit but euro slides After the Fed, it was the turn of the ECB and the BoE to announce their monetary policy decisions yesterday. Both of them raised interest rates by 50bps as was widely expected but remarks by ECB President Lagarde and BoE Governor Bailey did not bode well for [..]

Technical Analysis – EURUSD dives below the 1.1000 again and the 9-month high

Posted on February 2, 2023 at 2:10 pm GMT

EURUSD rallied to a fresh nine-month high of 1.1032 earlier today but later retreated somewhat near its opening level. The momentum indicators are supportive of the bearish movement, with the RSI falling from the overbought territory and the MACD easing below its trigger line. Immediate support is being provided by the 1.0930 barrier ahead of the 20-day simple moving average (SMA) at 1.0835. Should prices dip lower again, the next support would likely come from the 50-day SMA, near the lower boundary of the upward [..]

Technical Analysis – EURUSD aims for uptrend extension after FOMC boost

Posted on February 2, 2023 at 10:05 am GMT

EURUSD advanced to a ten-month high of 1.1032 in the wake of a less hawkish FOMC policy statement late on Wednesday, which telegraphed that monetary tightening is probably having the desired impact on inflation. The pair mildly trimmed some gains earlier today, edging slightly below the 1.1000 level as the RSI and the stochastics on the four-hour chart flagged overbought conditions. While a pause can be reasonable after the latest spike, yesterday’s close above the 1.0940 bar, which overlaps with the 50% Fibonacci retracement [..]

Daily Market Comment – Fed flushes dollar down the drain, ECB and BoE next

Posted on February 2, 2023 at 9:20 am GMT

Fed chief strikes neutral tone, markets take it as ‘green light’ to party ECB and BoE decisions coming up, both set for 50bps rate increases Earnings season goes into full force with Apple, Amazon, and Google Dollar crumbles, stocks surge after Fed As expected, the Federal Reserve raised interest rates by one quarter of a percent yesterday and flagged further tightening to come. During his press conference, Chairman Powell struck a relatively neutral tone, highlighting the recent progress in the [..]

Daily Market Comment – Fed decision kicks off central bank bonanza

Posted on February 1, 2023 at 9:36 am GMT

Fed set to raise rates by 25bps but what tone will Powell strike? Dollar remains on the back foot, stocks resume euphoric rally Meta reports earnings, ECB and BoE decisions awaited tomorrow Fed balancing act All eyes will be on the FOMC rate decision today. Investors expect the Fed to wind down the pace of rate increases by rolling out a 25bps hike, which is already fully baked into market pricing. As such, the market reaction will depend mostly on [..]

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