All Articles Tagged - EURUSD

Week Ahead – The calm before another US inflation storm

Posted on October 7, 2022 at 11:23 am GMT

An electrifying week is coming up, featuring another crucial US inflation report and minutes of the latest Fed meeting. Both will be key pieces of the puzzle for the dollar and risk assets, as traders grapple with whether the Fed will pause its tightening cycle anytime soon. Even in case of a softer inflation print though, this type of speculation seems premature. Fed bets Investors have been playing with the idea that the Fed might pause its rate increases soon, [..]

Daily Market Comment – Dollar firms as Fed’s hawkish drumbeat gets louder ahead of NFP

Posted on October 7, 2022 at 9:10 am GMT

Fed destroys all hopes of an early pivot even before latest jobs report is out Dollar climbs to one-week high as stocks turn negative again Pound under renewed pressure, yen won’t budge from the 145 level Hawkish Fed takes shine off September jobs report After some very mixed readings on the US economy this week, the latest nonfarm payrolls report will take centre stage today, with investors hoping for some signs of a cooldown in the red-hot labour market. The [..]

Technical Analysis – EURUSD meets 200-period SMA and tests 0.9900

Posted on October 6, 2022 at 11:21 am GMT

EURUSD is underperforming after the pullback off the 200-period simple moving average (SMA) around 0.9920. The pair is approaching the near-term uptrend line near the 0.9900 psychological mark and the 20-period SMA. The RSI is sloping south in the bullish area; however, the stochastic is still moving higher after the bullish cross within the %K and %D lines. Should weakness extend below the uptrend line, support to downside movements could be initially detected within the 0.9835 barrier. Clearing that zone, [..]

Daily Market Comment – Markets shrug off OPEC+ cut and solid US data, await US jobs report

Posted on October 6, 2022 at 9:04 am GMT

Oil rally fizzles out despite steep output cut by OPEC+ as impact seen limited Yields climb as Fed pivot hopes fade further after upbeat US data But Wall Street holds judgement, pares losses as investors look to payrolls report OPEC+ cut adds to winter energy concerns OPEC and its non-OPEC partners decided to cut oil production by two million barrels per day on Wednesday in a bid to stem the decline in prices, which have fallen by more than 30% [..]

Daily Market Comment – Stocks catch fire on Fed hopes, but dollar halts slide

Posted on October 5, 2022 at 9:34 am GMT

Drop in US job openings points to cooling labour market, boosts risk appetite Stocks stage massive rally but may have hit a snag as Fed stands firm Dollar retraces some losses but kiwi bucks the trend after RBNZ hike Oil prices steady ahead of OPEC+ output decision Risk rally starts to fade amid doubts about Fed pivot The market euphoria around the hopes that the Fed is nearing a turning point with its policy tightening began to fade slightly on [..]

Technical Analysis – EURUSD jumps higher but is capped by parity level

Posted on October 4, 2022 at 1:50 pm GMT

EURUSD is looking strongly bullish in the short-term after the rebound off the 20-year low of 0.9530 on September 28. Prices hit a two-week high above 0.9900 and the technical indicators are all pointing to further positive momentum in the near term. The RSI has crossed into bullish territory, while the MACD is climbing above its trigger line. Immediate resistance to further gains would likely come from the parity level and the 50-day simple moving average (SMA) around 1.0020. If [..]

Nonfarm payrolls: More bad news for the Fed? – Forex News Preview

Posted on October 3, 2022 at 2:29 pm GMT

The latest US employment report will rock financial markets at 12:30 GMT Friday. With the Fed actively trying to weaken the labor market, the stakes are very high. However, it seems like Powell won’t get his wish yet, as most indicators point to another solid jobs report. That could inflict more damage on stocks and supercharge the roaring dollar. Still running hot Federal Reserve officials have embarked on a crusade to vanquish inflation, raising interest rates at an astonishing pace [..]

Daily Market Comment – Yen flirts with intervention level, UK budget U-turn lifts pound

Posted on October 3, 2022 at 9:13 am GMT

Dollar mixed as yen and euro struggle, pound extends rebound on budget hopes Stocks lack direction as Credit Suisse woes add to outlook worries US ISM and jobs data eyed as Fed reiterates inflation-busting policy stance Recession fears run high but UK’s Kwarteng offers some relief The third quarter got off to a subdued start on Monday as there was no respite for equity markets from the worsening economic landscape globally, though major currencies were able to bounce back amid [..]

Technical Analysis – EURUSD holds bullish bias in very short-term

Posted on October 3, 2022 at 7:05 am GMT

EURUSD posted almost 4% of gains after the bounce off the 20-year low of 0.9530 in the preceding week, remaining within the long-term downward sloping channel. Technically, the RSI indicator is pointing upwards in the bearish region, while the MACD is trying to strengthen its bullish bias in the negative area, suggesting that the next near-term movements could be to the upside. Currently, the price is approaching the 20-day simple moving average (SMA), which is standing slightly above the 0.9863 [..]

Week Ahead – RBA and RBNZ to weigh 50-bps hikes but NFP report to set the mood

Posted on September 30, 2022 at 10:22 am GMT

The antipodean central banks will kick off the new month with their October policy decisions, but the latest jobs report out of the US could steal the limelight amid the never-ending anticipation of when the Fed will reach peak hawkishness. Following the latest panic in the markets and the renewed rush to buy US dollars, the reserve banks of Australia and New Zealand might be more inclined to maintain their aggressive pace of tightening and not ease up just yet. [..]

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