All Articles Tagged - EURUSD

Technical Analysis – EURUSD consolidates after advance pauses

Posted on December 12, 2022 at 8:44 am GMT

EURUSD has been edging higher since early October after its long-term downtrend paused at the 20-year low of 0.9535. However, the pair has been stuck in a sideways pattern in the last few daily sessions after its advance failed to surpass the 1.0594 barrier. The momentum indicators currently suggest that bullish forces are in control. Specifically, the RSI is hovering above its 50-neutral mark, while the stochastic oscillator has posted a bullish cross. To the upside, if buyers re-emerge and push [..]

Week Ahead – Slower rate hikes eyed as Fed, ECB, BoE and SNB clash

Posted on December 9, 2022 at 12:34 pm GMT

A turbulent year is fast drawing to a close and the most crucial week for central banks is upon us. The Federal Reserve will be headlining the last rate-setting decisions of 2022 that will also cover those of the European Central Bank, Bank of England and Swiss National Bank. But it’s not just central bank meetings cramming up the schedule. There will be a flurry of economic data too, led by the latest US CPI report and the flash PMI [..]

Fed decision and US inflation stats to decide dollar’s fate – Forex News Preview

Posted on December 9, 2022 at 12:14 pm GMT

A decisive week lies ahead for the dollar, featuring the latest US inflation and retail sales reports, alongside a critical Fed decision. Business surveys suggest inflationary forces continued to abate, although elevated rents might offset some of that. Meanwhile, a half-point rate increase by the Fed is already locked in, putting the emphasis mostly on the updated ‘dot plot’ projections. Managing risks The US economy finds itself at a crossroads. Most leading indicators suggest a storm will hit next year. [..]

Daily Market Comment – Gold gets its shine back, stocks drift lower amid flight to safety

Posted on December 8, 2022 at 9:58 am GMT

Sharp decline in US yields saps the dollar, breathes new life into gold Oil hits new lows as recession worries mount, despite China reopening Canadian dollar cannot capitalize on surprisingly large rate hike Give me shelter Investors have started to play defense. There’s a distinct sense that the main threat next year will be slow or negative economic growth, replacing inflation as public enemy number one. This has induced a quiet flight to safety in financial markets as traders attempt [..]

Technical Analysis – EURUSD recoups previous losses to reclaim 1.0500

Posted on December 7, 2022 at 2:10 pm GMT

EURUSD is standing above the 1.0500 crucial level, and it also reached a fresh five-month high of 1.0895 on Monday. A bullish sign is also the golden cross within the 20- and the 200-day simple moving average (SMA) as well as the upward slope of the RSI indicator near the overbought region. However, the MACD is moving sideways near its trigger line in the positive area. Another step higher may reach a key resistance at 1.0595, where the price stopped [..]

Daily Market Comment – Stocks lose altitude, dollar reawakens after solid US data

Posted on December 6, 2022 at 9:40 am GMT

ISM services survey signals US economy is still running hot Traders step up bets on Fed terminal rate, boosting dollar RBA delivers no surprises, yen retreats as US yields spike Inflation strikes back Inflation concerns returned to haunt financial markets on Monday, after a closely watched survey suggested that US economic activity gathered momentum heading into year-end, piling more pressure on the Fed ahead of next week’s rate decision. Despite a series of shock-and-awe rate increases this year that were [..]

FX year ahead 2023: Recessions and trend reversals – Special Report

Posted on December 5, 2022 at 3:01 pm GMT

The US dollar steamrolled every other major currency this year, capitalizing on a perfect storm of widening interest rate differentials, safe-haven flows, and an absence of attractive alternatives. This ferocious rally could extend into next year, as most economies will likely fall into recession long before the US does. Nonetheless, the second half of the year might see a reversal in this trend. Could the yen come from behind to be the winner of 2023, in case the dollar rally [..]

Daily Market Comment – Dollar slides despite solid nonfarm payrolls

Posted on December 5, 2022 at 10:14 am GMT

Surprisingly strong US jobs report cannot revitalize dollar rally Stock markets storm back to erase losses, OPEC stands pat China relaxes some covid restrictions, RBA decision eyed Conflicting signals in US jobs data There was no shortage of volatility in the FX complex on Friday. While the latest batch of US employment data was strong on the surface, with nonfarm payrolls exceeding projections and wage growth firing up, the dollar could not capitalize for long. Signs that the economy is [..]

Technical Analysis – EURUSD shows positive signs above 1.0500

Posted on December 5, 2022 at 8:53 am GMT

EURUSD advanced above the 1.0500 in the previous couple of sessions, suggesting that the market is in a bullish mode in the short-term timeframe. Regarding the trend, it is likely to remain on the upside as the price continues to stay above the 200-day simple moving average (SMA). The MACD oscillator is strengthening its bullish momentum above its trigger line in the positive region; however, the RSI is holding near the overbought territory, suggesting some losses. An extension to the upside could meet the 1.0620 resistance level [..]

Week Ahead – Australia and Canada kick off central bank bonanza

Posted on December 2, 2022 at 12:02 pm GMT

A litany of central bank meetings lies ahead in the first half of December. The ball will get rolling with the Reserve Bank of Australia and the Bank of Canada next week, both of which are expected to raise interest rates again, albeit at a slower pace. Meanwhile in America, business surveys and producer prices will shape expectations around Fed policy, helping investors decide whether the dollar’s best days are behind it. RBA shifts into lower gear The Australian economy [..]

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