All Articles Tagged - EURUSD

Daily Market Comment – Mixed US employment report leaves dollar with bruises

Posted on November 7, 2022 at 9:35 am GMT

Dollar retreats, Fed bets ease as nonfarm payrolls offer mixed signals Stock markets, gold prices, and risk-linked assets enjoy relief rally Huge week ahead, featuring US midterm elections and inflation data Conflicting signals in US jobs report A mixed bag of US employment numbers left financial markets in disarray on Friday. While nonfarm payrolls exceeded forecasts and wage growth came in hot, the household survey painted an entirely different picture, with the unemployment rate spiking higher even as labor force [..]

Technical Analysis – EURUSD perks up after impressive rally

Posted on November 7, 2022 at 8:41 am GMT

EURUSD experienced its fastest daily rally in two years on Friday, advancing by 2.0% to an intra-day high of 0.9965. The swift bounce back took place at the bottom of a short-term ascending channel, adding credence to the series of higher highs and higher lows that emerged following the plunge to a 20-year low of 0.9535. The momentum signals are also sending some encouraging signals as the RSI has forcefully returned above its 50 neutral mark and the stochastics have resumed their [..]

Week Ahead – Brace for US midterm elections and inflation data

Posted on November 4, 2022 at 10:54 am GMT

There are only a handful of events next week but they will be crucial for markets. A divided Congress is the most likely outcome when Americans go to the ballots, setting the stage for two years of political deadlock. Meanwhile, the latest US inflation data will decide the pace of future Fed rate increases and by extension, the dollar’s fortunes. US midterms A mid-cycle election in the United States on Tuesday will serve as an appetizer ahead of Thursday’s critical [..]

Daily Market Comment – Stocks pare post-Fed losses ahead of NFP on China hopes; BoE sinks pound

Posted on November 4, 2022 at 10:22 am GMT

Dollar off highs, stocks turn positive as China reopening chatter lifts mood But NFP report could bring Fed tightening fears back into the fore Pound left reeling after BoE hikes big, warns of long recession Hopes of China reopening ease Fed gloom The run-up to the Fed meeting and its aftermath was a rollercoaster ride that didn’t end well for stocks. Investors hoping for a dovish pivot instead got a Fed chief leaning further towards the hawkish end of the [..]

Technical Analysis – EURUSD slips back below downtrend line

Posted on November 3, 2022 at 1:38 pm GMT

EURUSD came under strong selling pressure yesterday following Fed Chair Powell’s hawkish remarks, breaking back below the medium-term downtrend line drawn from the high of February 10. The pair extended its slide today, breaking a short-term upward sloping support line taken from the low of September 28. These technical signs suggest that the bears are back in the driver’s seat. Our short-term oscillators are detecting strong downside speed, which adds more credence to that notion. The RSI is lying below 30 [..]

Can nonfarm payrolls add momentum to the US dollar? – Forex News Preview

Posted on November 3, 2022 at 9:22 am GMT

With the Fed meeting out of the way, investors will turn to the latest US employment report that is out at 12:30 GMT Friday. Economists expect another solid nonfarm payrolls print, although there is some scope for disappointment according to business surveys. As for the dollar, while the outlook remains positive, we seem to be entering the ‘final act’ of this stunning rally. Fed vs economy Despite a series of rapid-fire Fed rate increases this year, the US economy has [..]

Technical Analysis – EURUSD battles with 50-day SMA below 0.9900

Posted on November 1, 2022 at 2:59 pm GMT

EURUSD is still holding above the descending channel, but the parity level is still acting as resistance level. The price is rebounding off the 50-day simple moving average (SMA), which is currently near 0.9880. The MACD oscillator is losing momentum in the positive region, while the RSI is pointing upwards near the neutral threshold of 50. In the event the bulls take control, the 1.0000 crucial level, will come first into view. A violation at this point may see another [..]

Daily Market Comment – Stocks climb, dollar dips as Fed anticipation builds

Posted on November 1, 2022 at 10:27 am GMT

Markets see-saw as speculation that Fed is nearing peak rates goes into overdrive Stocks turn positive, dollar retreats as some optimism returns, US data eyed RBA sticks with 25-bps hike, but aussie gains on China zero-Covid exit rumours Markets struggle for direction in wait for Fed decision Traders continued to weigh the odds of the Federal Reserve signalling an end to the run of jumbo-sized rate increases as the central bank begins its two-day monetary policy meeting on Tuesday. Hopes [..]

Will the Fed confirm hopes of slower tightening? – Forex News Preview

Posted on October 31, 2022 at 4:02 pm GMT

Although the dollar ended last week on a positive note, it’s been trading in a corrective fashion overall for more than a week now, due to growing speculation that the Fed may soon need to start reducing the pace of its rate increases. Although this is not expected to happen this week, investors are sitting on the edge of their seats in anticipation of clues and signals with regards to the future course of action. The decision and the statement [..]

Daily Market Comment – Caution sets in after risk rally as Fed in focus

Posted on October 31, 2022 at 10:09 am GMT

Stocks wobble at start of FOMC week following surprise tech rebound Dollar edges up as rate hike expectations strengthen again Pound and aussie slip ahead of BoE and RBA decisions, commodities struggle Equities in another show of resiliency US futures slipped early on Monday and European shares were mixed as the Apple-led risk rally faded somewhat, with investors turning more cautious ahead of the Fed’s highly anticipated policy decision on Wednesday. Wall Street unexpectedly surged on Friday despite US data [..]

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