All Articles Tagged - EURUSD

S&P500 short-term correlations hold surprises – Special Report

Posted on February 1, 2023 at 7:13 am GMT

It has been a relatively quiet week, but it is highly probable that this calmness will be broken soon. The numerous central bank meetings, starting with the Fed gathering on Wednesday afternoon, and the busy data calendar promise an eventful period. Market correlations are used extensively by market participants to depict the current state of the market. Do long-term correlations stand or has something changed in the market recently? By using daily data, we calculated the latest 3-month daily correlation, [..]

Roaring euro turns to ECB rate decision – Forex News Preview

Posted on January 31, 2023 at 2:12 pm GMT

The European Central Bank will announce its next policy decision at 13:15 GMT on Thursday. A rate increase of 50bps is already fully priced in, so the euro’s reaction will depend mostly on President Lagarde’s commentary. The economic outlook has improved lately and inflation remains elevated, so a hawkish message that lifts the euro a little might be in store. That said, the bigger picture isn’t so bright. Rescued by the weather The Eurozone economy has been surprisingly resilient in [..]

Daily Market Comment – Dollar gains ahead of major central bank decisions

Posted on January 31, 2023 at 8:58 am GMT

Dollar gains ahead of tomorrow’s Fed decision Spain’s inflation accelerates for the first time in six months Euro/dollar could slide, but outlook stays positive Treasury yields rise, weighing on Wall Street Will the Fed add a hawkish flavor to a smaller hike? The US dollar traded higher against all the other major currencies on Monday and continued to gain ground against most of them today as well. With no major data releases or events to drive the greenback yesterday, it [..]

Daily Market Comment – Dollar stable, euphoric stocks turn lower as busy week begins

Posted on January 30, 2023 at 9:30 am GMT

FX market in a stalemate ahead of crucial central bank decisions Wall Street takes a step back after bull run, tech earnings loom Oil ignores military strikes against Iran, awaits OPEC meeting FX traders brace for central bank updates A massive week lies ahead for investors. Central bank decisions in the United States, Eurozone, and United Kingdom, earnings updates from several Wall Street tech giants, and a heavy dose of economic data releases that include the US employment report all [..]

Technical Analysis – EURUSD weakens after jumping above 1.0900

Posted on January 30, 2023 at 7:24 am GMT

EURUSD is easing from last week’s the nine-month high of 1.0930, remaining within the upward sloping channel and well above the short-term simple moving averages (SMAs). Technically, the MACD oscillator is falling beneath its trigger line in the bullish region, while the RSI is flattening beneath the 70 level, suggesting the momentum is weakening. Further losses should see the 20-day SMA at 1.0780 acting as a major support ahead of the 1.0740 support level and the lower boundary of the [..]

Will the Fed add a hawkish flavor to a smaller hike? – Forex News Preview

Posted on January 27, 2023 at 1:09 pm GMT

With some Fed officials corroborating investors’ view of a quarter point increase, Wednesday’s FOMC gathering will likely be among the highlights of the week. Market participants will be eager to find out whether the consensus of policymakers also agrees with their view on the path of interest rates after the meeting, as this is where opinions between the financial community and the Fed diverge. What will the Fed signal and how may the market respond? A bone of contention At [..]

Week Ahead – Fed, ECB, and BoE rate decisions on the menu

Posted on January 27, 2023 at 11:25 am GMT

A busy week lies ahead, featuring several central bank decisions and a stream of data releases. The Fed is set to raise rates at a slower pace as inflation has started to cool down, putting the emphasis on Powell’s commentary. Meanwhile, market pricing suggests the ECB and BoE will roll out bigger rate increases than the Fed, before the week concludes with the latest US employment report. Dollar awaits Fed update It’s been a difficult few months for the US [..]

Technical Analysis – EURUSD struggles to hold above 1.0900

Posted on January 26, 2023 at 1:23 pm GMT

EURUSD is making an attempt to hold above 1.0900 but the momentum seems to be weak. The pair is still developing within the upward sloping channel and well above the short-term simple moving averages (SMAs). The MACD is standing near its trigger line; however, the RSI is pointing slightly down after the pullback from the overbought territory. If the price has another rally higher, it may hit the 1.1000 psychological mark ahead of the next crucial resistance at 1.1180, taken [..]

Daily Market Comment – Dollar slides ahead of US GDP data, BoC signals likely pause

Posted on January 26, 2023 at 9:20 am GMT

Dollar continues to slide on Fed pivot bets US GDP numbers for Q4 enter the limelight More ECB hawks flap their wings Loonie slides as BoC says it will likely stop raising rates BoC pause adds to bets that the Fed will follow suit The US dollar traded lower against all but two of the other major currencies on Wednesday, with the exceptions being the Canadian and New Zealand dollars. With no major US data to drive the US dollar, [..]

Daily Market Comment – US business activity shrinks, BoC decision up next

Posted on January 25, 2023 at 9:15 am GMT

US continues to contract while Eurozone returns to growth Aussie gains on accelerating inflation BoC expected to deliver one last hike Wall Street ends mixed, awaits more earnings results PMIs confirm divergence between ECB and Fed interest rate bets Although euro traders were not overly impressed by yesterday’s preliminary PMI data suggesting that the Eurozone returned to growth in January, the contrast to the US numbers that came out later in the day may have allowed euro/dollar to stay in [..]

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