All Articles Tagged - EURUSD

Voting rotation, hawkishness and the next ECB meeting in sight – Special Report

Posted on January 25, 2023 at 7:49 am GMT

The ECB prepares to hold its first rate-setting meeting for 2023 on February 2. The market is almost certain that another 50 bps rate hike will be announced next week. The attention falls on the ECB outlook as an open debate among the ECB members is developing before our eyes. Both sides have sound arguments with the doves regaining strength following the recent easing in both the inflation rates and commodity prices. But who has the upper hand at the February meeting? [..]

US GDP and PCE inflation eyed ahead of Fed decision as dollar languishes – Forex News Preview

Posted on January 24, 2023 at 3:45 pm GMT

Investors will get the first reading on US GDP growth for the fourth quarter on Thursday (13:30 GMT), while on Friday, the last inflation statistics before Fed policymakers gather for their first meeting of 2023 will be watched. The data could be a boon for risk appetite, as the American economy probably grew at a solid clip in Q4, and inflation as measured by the PCE price index moderated further. But the US dollar is looking increasingly in trouble, as [..]

Daily Market Comment – Wall Street jumps ahead of key earnings and data

Posted on January 24, 2023 at 10:32 am GMT

Tech stocks surge as S&P 500 closes above 4,000, all eyes on Microsoft Euro eases off highs amid signs of ECB divisions, mixed PMIs also weigh Dollar struggles as Fed bets trimmed, gold hits fresh highs Wall Street bulls fire up ahead of tech earnings Growing hopes that the Fed will soon call time on its aggressive rate-hiking campaign continued to feed optimism in equity markets, pushing the S&P 500 above the 4,000 level on Monday. US stocks staged a [..]

Daily Market Comment – Fed signals downshift, lifting Wall Street, but dollar sags

Posted on January 23, 2023 at 10:47 am GMT

Fed officials warm up to 25-bps rate hikes, cheering equity markets But dollar takes a hit, stands firm only against sinking yen Euro powers on as ECB hawk puts foot down, flash PMIs eyed Fed enters blackout with a nod to slower hikes Trading got off to a quieter start on Monday, as China and other major markets in Asia are closed for the Lunar New Year celebrations, and Friday’s risk rally lost some steam, but the positive sentiment continued [..]

Technical Analysis – EURUSD hits 9-month high; set for its next bullish cycle

Posted on January 23, 2023 at 9:03 am GMT

EURUSD is looking to start a new bullish cycle after gently breaking out of its weekly range to print a new nine-month high of 1.0919 earlier today. The odds are favoring the bulls according to the technical indicators. The exponential moving averages (EMAs) are all sloping upwards, with the 50- and 200-day EMAs having recently registered a clear golden cross for the first time since June 2020. This is a solid positive sign that the four-month-old uptrend could experience further improvement. In momentum [..]

Week Ahead – BoC may hike one final time; Will flash PMIs spread gloom or optimism?

Posted on January 20, 2023 at 10:20 am GMT

As 2023 gets underway, so do the central bank meetings and the Bank of Canada will be the next after the BoJ to announce its first policy decision of the year. Meanwhile, investors will be nervously awaiting the first PMI readings of 2023 next week as they juggle to reach a consensus about the recessionary risks. In the United States, there will additionally be the advance GDP estimates for the final quarter of 2022, as well as PCE inflation data. [..]

Daily Market Comment – Dollar subdued, euro rebounds, yen retreats

Posted on January 20, 2023 at 9:02 am GMT

Dollar trades lower even as initial jobless claims beat estimates Euro rebounds after Lagarde appears hawkish Yen retreats, but stays in broader uptrend Wall Street records another day of losses Dollar unimpressed by slide in jobless claims The US dollar finished Thursday lower against most of the other major currencies, gaining only versus the risk-linked aussie and kiwi. Today, the greenback is losing against all except the yen and the pound. It seems that investors are still trying to estimate [..]

Technical Analysis – EURUSD is range-trading, but bearish pressure building up

Posted on January 19, 2023 at 9:39 am GMT

EURUSD is stuck in a narrow range for the past few sessions after touching 1.0887 on January 18. The market is trying to find a new direction following the strong move higher since January 6. The pair cannot rely on the support of the momentum indicators as both the Average Directional Movement Index (ADX) and RSI seem to be trendless. The same cannot be said for the stochastic oscillator though. It is moving downward, almost in a vertical fashion, potentially pointing to a [..]

Daily Market Comment – US data disappoints, yen stages comeback

Posted on January 19, 2023 at 9:13 am GMT

US data revive recession fears, add to pivot view Yen recovers post-BoJ losses, stays in uptrend Euro awaits ECB minutes and Lagarde’s speech S&P 500 comes under pressure after testing key downtrend line Weak data add credence to Fed pivot hypothesis The US dollar finished Wednesday mixed against the other major currencies and continued in a similar fashion today. It is trading higher against the risk-linked aussie and kiwi, while it is down against the yen. Against the rest, the [..]

Daily Market Comment – Yen tumbles on BoJ decision, US data enters the limelight

Posted on January 18, 2023 at 9:19 am GMT

Yen falls as BoJ defies bets for more policy tweaks US retail sales and PPI data the dollar’s next test Wall Street at the mercy of data and earnings Yen tumbles as BoJ keeps yield control policy untouched The protagonist in the first chapter of today’s FX episode is the Japanese yen, which came under strong selling interest after the Bank of Japan stuck to its ultra-loose monetary policy, disappointing expectations that it could further tweak its yield curve control [..]

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