All Articles Tagged - EURUSD

Market Comment – Dollar remains strong ahead of key data, yen surges

Posted on July 24, 2024 at 8:22 am GMT

Dollar keeps marching north, PMIs on tap Yen extends rally as traders unwind carry trades Aussi and kiwi slide on China concerns, loonie awaits BoC Stocks trade in the red, tech earnings in the spotlight Traders continue to buy the US dollar The dollar traded higher against all but one of its major peers on Tuesday and continued to do so today. The exception was the Japanese yen. With Fed fund futures suggesting little change in market expectations about the [..]

Technical Analysis – EURUSD tests descending trend line

Posted on July 23, 2024 at 12:03 pm GMT

EURUSD eases from 1.0950 level Bullish cross between SMAs still intact Momentum oscillators head south EURUSD is still diving from the 1.0950 resistance level, finding strong support near the long-term descending trend line. The simple moving averages (SMAs) posted a strong bullish crossover; however, the technical oscillators are suggesting more downside pressure. The stochastic is slipping beneath the 20 level, while the RSI is sloping south above the 50 level. Immediate support for further downside moves could come from 1.0850, [..]

Heightened volatility across all asset classes – Volatility Watch

Posted on July 23, 2024 at 8:56 am GMT

• Yen crosses are volatile as they retreat from multi-year highs • Volatility in oil and gold surges, Bitcoin follows suit • US equities exhibit higher volatility amid correction fears The euro and dollar pairs maintain low volatility ahead of the US PCE release on Friday and a quiet week on the European data front. On the flipside, volatility in yen crosses has increased considerably as the pairs have been extending their latest pullbacks from multi-year highs. In the meantime, [..]

Market Comment – Market in waiting mode as key data in sight

Posted on July 23, 2024 at 7:49 am GMT

VP Harris close to securing nominee status Dollar trades sideways against the euro Tech stocks’ reaction higher helps S&P 500 breathe better Gold under pressure, drags bitcoin lower US Presidential race hots up Incumbent Vice President Kamala Harris has apparently made a significant step in securing the Democratic party’s nominee status by earning the support of enough delegates ahead of the August 19-22 party convention. Former Speaker of the House, Nancy Pelosi, is the last heavyweight to lend her support [..]

Weekly Technical Outlook – USDCAD, Gold, EURUSD

Posted on July 22, 2024 at 8:18 am GMT

BoC policy meeting may send loonie even lower US Core PCE index could drive gold south EURUSD may not affected by Eurozone PMIs figures BoC interest rate decision –> USDCAD The Bank of Canada will announce its monetary policy on Wednesday. This bank lowered interest rates by 25 basis points at its recent meeting, citing falling inflation and slow economic growth. In the previous week, the Canadian CPI showed that inflation fell further in June, supporting a second rate cut with [..]

PMIs could momentarily take focus away from US developments – Preview

Posted on July 22, 2024 at 7:49 am GMT

Wednesday’s PMI surveys key for both the Fed and the BoE Eurozone PMI manufacturing survey could disappoint again US PMIs unlikely to unsettle September Fed expectations UK figures could surprise on the upside after the general election Important PMI survey prints this week as both the Fed and the BoE meet soon Despite last week’s stock market correction and the latest developments in the US Presidential race dominating the headlines, economic data releases this week should attract the market’s interest. [..]

Week Ahead – Flash PMIs, US GDP and BoC decision on tap

Posted on July 19, 2024 at 11:08 am GMT

US data awaited amid overly dovish Fed rate cut bets July PMIs to reveal how economies entered H2 BoC decides on monetary policy, may cut rates again Will investors add to their Fed rate cut bets? With investors ramping up their Fed rate cut bets, the US dollar suffered during the first half of the week, although it recovered some ground on Thursday. Following the softer-than-expected CPI data last week, several Fed officials, including Chair Powell, noted the data are [..]

Market Comment – Stock rout deepens on chipmaker selloff as dollar bounces back

Posted on July 19, 2024 at 9:12 am GMT

Wall Street headed for weekly slump amid China trade war fears Dollar stages dramatic reversal on safety bids but gold loses out Euro slips after ECB decision, yen steady but off week’s highs Rate cut optimism turns to gloom Equity markets were mostly in the red on Friday, adding to the weekly losses after a torrid week that began with optimism that a Fed rate cut is nearing but ended on heightened fears of a fresh trade standoff between China [..]

Technical Analysis – EURUSD reaches the midpoint of a long-term downtrend

Posted on July 18, 2024 at 8:45 am GMT

EURUSD rally slows down near 4-month high Gets bearish vibes, but positive trend is still alive above 1.0900 ECB to hold interest rates steady at 12:15 GMT; Will it signal a second rate cut? EURUSD took a breather after heightened expectations of a Fed rate cut lifted the pair as high as 1.0947 on Wednesday. The price has been displaying a pattern of higher highs and higher lows in the past three weeks, but its failure to reach the upper band of the bullish channel [..]

Market Comment – Stocks suffer a fall but not sounding the alarm yet

Posted on July 18, 2024 at 8:00 am GMT

Stocks under pressure but dollar fails to make gains ECB meets today, unlikely to produce a dovish shift Pound ignores data; yen continues to rally against the dollar Stock markets under pressure; feels like 2007 again Following last weekend’s events, the market is probably paying more attention to Donald Trump’s economic plan. Speculation about increased tariffs on Chinese goods, including high technology products, was probably one of the causes of the Nasdaq experiencing yesterday its weakest trading session since mid-December [..]

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