All Articles Tagged - EURUSD

Daily Market Comment – Stocks steadier, dollar softer as markets weigh recession risks

Posted on December 19, 2022 at 10:16 am GMT

Weak PMIs heighten recession fears in the US, dollar slips from highs But equities attempt to end losing streak as investors pare back rate hike expectations Chinese stocks struggle amid surging virus cases as authorities pledge to boost growth Bank of Japan in focus as speculation of a policy shift intensifies Poor PMIs cast doubt on Fed’s dot plot Trading got off to a muted but somewhat more optimistic start on Monday in a week where volumes are expected to [..]

Technical Analysis – EURUSD poised for bullish continuation

Posted on December 19, 2022 at 9:11 am GMT

EURUSD opened the week with positive momentum marginally below the 1.0600 level, having slightly trimmed some of its recent gains as overbought signals appeared on the chart. The RSI keeps fluctuating comfortably above its 50 neutral mark following the pullback below 70, reflecting persisting buying interest, whereas the stochastics and the MACD are looking for a downside reversal, suggesting that some caution is still required. Yet, with the pair maintaining a clear bullish structure in the short-term picture, which recently [..]

Daily Market Comment – ECB appears hawkish, US retail sales disappoint

Posted on December 16, 2022 at 9:20 am GMT

ECB signals that more double hikes are on the way US retail sales slide by more than expected Dollar ends Thursday higher on haven flows Wall Street slides on recession fears ECB slows hikes to 50bps but pledges more to come The US dollar finished Thursday higher against all its major peers, even against the euro, which at some point received support from a hawkish ECB. That said, a lower euro/dollar does not give the full picture of how the [..]

Week Ahead – Bank of Japan highlights a data-heavy week

Posted on December 16, 2022 at 9:18 am GMT

The central bank torch will pass to the Bank of Japan next week. Even though the consensus is for no policy changes, the prospects for the yen have started to improve heading into a potentially stormy year. There’s also a heavy dose of data releases from Canada and the United States. BoJ to tighten next year? Economic developments in Japan have been encouraging lately, raising speculation that the central bank might finally consider an exit from its decade-long stimulus program. [..]

Technical Analysis – EURUSD bullish bias under threat

Posted on December 15, 2022 at 10:49 am GMT

EURUSD is correcting towards the 1.0610 area after reaching 1.0694, the highest level since June 29. EURUSD has been on an upward trending path since printing a multi-decade low of 0.9535 on September 28, with the latest upleg since late November being the most aggressive one. There are still a few supportive factors for the current bullish bias. The simple moving averages (SMA) are pointing higher, EURUSD is hovering above the Bollinger bands’ midpoint and the November 4 upward trendline remains valid. If the bulls [..]

Daily Market Comment – Traders ‘don’t buy’ Fed’s hawkish signals, ECB and BoE coming up

Posted on December 15, 2022 at 9:51 am GMT

Dollar cannot gain ground even as Fed projects rates above 5% Stocks drift lower, albeit not much, as traders second-guess Fed The central bank show continues with ECB, BoE, and SNB today Markets skeptical of Fed guidance The Federal Reserve raised interest rates by half a percentage point yesterday, as widely anticipated. In the updated economic projections, the message was quite gloomy as the unemployment rate and core inflation for next year were revised higher, while GDP growth was calibrated [..]

Technical Analysis – EURUSD struggles to break above 1.0600

Posted on December 13, 2022 at 12:53 pm GMT

EURUSD has been trading in a consolidative manner for more than a week, with the bulls struggling to overcome the 1.0600 territory, which almost coincides with the 38.2% Fibonacci retracement level of the May 2021 – September 2022 downtrend. However, the overall price structure remains of higher highs and higher lows since September 28, and thus, the short-term outlook could still be considered cautiously positive. Our short-term oscillators detect slowing positive momentum, implying that there is the risk of a setback [..]

Daily Market Comment – Investors brace for US inflation turmoil

Posted on December 13, 2022 at 9:41 am GMT

Dollar drifts lower ahead of pivotal US inflation report Delicate balance between optimism and caution in stocks Yen suffers some bruises ahead of BoJ’s Tankan survey Inflation test A trial by fire awaits investors today, as the latest US inflation report could single-handedly determine whether global markets end the year with a party or a riot. Forecasts suggest inflation cooled further in November, with the yearly CPI rate projected to decline to 7.3% from 7.7% in the previous month. Most [..]

Will the ECB signal the need for more rate hikes? – Forex News Preview

Posted on December 12, 2022 at 4:15 pm GMT

Following the slowdown in the euro area inflation during the month of November, investors changed their minds with regards to whether another triple hike is needed by the ECB, with hopes of a peak in sky-high prices allowing them to conclude that a 50bps increment may be more appropriate. The ECB meets on Thursday at 13:15 GMT, and it remains to be seen whether investors are right or wrong. A bigger question though may be what kind of signals officials [..]

Daily Market Comment – Dollar starts busy week on strong footing

Posted on December 12, 2022 at 9:16 am GMT

Dollar up as producer prices rise by more than expected CPI numbers and Fed decision the greenback’s next tests Wall Street ends Friday session in the red ECB and BoE on the agenda as well Dollar rebounds after upside surprise in PPI data The US dollar entered the new week on a strong footing, outperforming most of the other major currencies. Perhaps market participants decided to enter some long positions, or liquidate some shorts, after Friday’s data showed that US [..]

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