All Articles Tagged - EURUSD

Week Ahead – Crucial ECB and BoJ decisions on the menu

Posted on October 21, 2022 at 11:26 am GMT

A central bank extravaganza lies ahead. The show will kick off with the Bank of Canada meeting, where markets expect another rate increase but are split on the size. Meanwhile in Europe, a triple-barreled hike by the ECB is already locked in, putting the emphasis on the press conference. Finally, the Bank of Japan is unlikely to throw a life jacket to the sinking yen. ECB ready to swing big With inflation running around 10%, the European Central Bank is [..]

Daily Market Comment – Mood sours as yields creep up again, UK PM resigns

Posted on October 21, 2022 at 9:27 am GMT

Mixed earnings can’t save Wall Street as hawkish Fed talk pushes up yields UK yields are an exception, retreating after Truss quits as PM; pound briefly spikes Dollar crosses 150 yen threshold as BoJ too busy snapping up bonds Markets contemplate 5% Fed funds rate Wall Street’s latest attempt at a rebound has run into another wall as a mixed set of corporate earnings have left stocks vulnerable to renewed bets of aggressive tightening by the Federal Reserve. Philadelphia Fed [..]

Technical Analysis – EURUSD tests 20-day SMA in the middle of descending channel

Posted on October 19, 2022 at 1:27 pm GMT

EURUSD is touching once again the 20-day simple moving average (SMA) to the downside after a failed attempt to jump above 0.9900. The technical indicators are changing their direction back to the bearish territory as the RSI is pointing downwards and the MACD is standing below its zero level and above its trigger line. Any declines beneath the 20-day SMA may open the door for the 0.9630 support, taken from the latest lows and the 20-year bottom of 0.9530. Steeper [..]

What the US midterm elections mean for the dollar and stocks – Special Report

Posted on October 19, 2022 at 12:55 pm GMT

On November 8, American citizens will head to the polls to elect their new Congress. Opinion polls and prediction markets argue the Republicans will take back at least one chamber, setting the stage for two years of political deadlock. Such an outcome could spark a relief rally in equity markets, and perhaps some profit-taking in the mighty dollar. Power shift With less than three weeks to go, investors are grappling with how this election could impact US government policy and [..]

Technical Analysis – EURUSD stays within a range; support at 0.9700

Posted on October 17, 2022 at 7:38 am GMT

EURUSD retained a strong footing around the 0.9700 level despite the flash drop to 0.9631 last week and the downside pressures near the 20-day simple moving average (SMA). The pair continued to trade with weak momentum early on Monday as technical signals provided no clear direction. Although above their recent lows, the RSI is moving sideways below its 50 neutral mark and the MACD is still attached to its red signal line in the negative area. On the other hand, the [..]

Technical Analysis – EURUSD retreats again after pullback off 20-day SMA

Posted on October 14, 2022 at 10:46 am GMT

EURUSD has been forming a descending channel with lower highs and lows since January. After regaining its footing at the 20-year low of 0.9430, the pair swiftly retraced as the 50-day simple moving average (SMA) limited the upside and the price is currently being capped by the 20-day SMA. The momentum indicators indicate a strengthening negative near-term bias. The RSI is ticking marginally down in the bearish area, while the MACD is failing to remain above its trigger line. Selling [..]

Daily Market Comment – Stocks slammed by bond market stress

Posted on October 11, 2022 at 8:39 am GMT

Cracks appear in UK bond markets again, sterling resilient so far Nasdaq hits two-year lows as rising yields hammer riskier assets Dollar reigns supreme, Aussie keeps sinking on China worries UK turmoil Another sharp selloff rocked British bond markets this week, reigniting fears of a debt crisis in the world’s fifth largest economy. With investors dumping UK bonds in force again, borrowing costs have spiraled to the highest level since the Bank of England stepped in to ward off a [..]

Will US inflation seal the deal for another triple Fed hike? – Forex News Preview

Posted on October 11, 2022 at 8:00 am GMT

After another employment report pointing to further tightening in the US labor market, market participants are nearly fully convinced that the Fed will deliver its fourth consecutive 75bps hike when it meets on November 2, and that’s maybe why they kept buying dollars. However, with still three weeks until the meeting, those bets could well be tweaked and the next data having the potential to do so is the inflation numbers for September, due to be released on Thursday at [..]

Daily Market Comment – Dollar shines, stocks slide after another solid jobs report

Posted on October 10, 2022 at 9:00 am GMT

US employment report comes in hot, dashing hopes of a Fed pause Dollar races higher, equities slip, but yen is surprisingly resilient Aussie hits new lows after soft Chinese data, crucial week lies ahead Running hot Despite a relentless rally in interest rates this year that was meant to cool demand, the US labor market continues to fire on all cylinders. Nonfarm payrolls clocked in at 263k in September, a slowdown from last month but still a solid reading overall. [..]

Technical Analysis – EURUSD retreats after rebound falters

Posted on October 10, 2022 at 7:17 am GMT

EURUSD has been losing ground since the beginning of the year, creating a clear structure of lower highs and lower lows within a descending channel. Although the pair managed to post a moderate rebound after finding its feet at the 20-year low of 0.9430, it quickly retraced back as the 50-day simple moving average (SMA) curbed the upside. The momentum indicators currently suggest that the negative near-term bias is strengthening. Specifically, the RSI is declining below its 50-neutral mark, while the stochastic oscillator has [..]

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