All Articles Tagged - EURUSD

Could the ECB rate decision come to the euro’s rescue? – Forex News Preview

Posted on September 5, 2022 at 12:42 pm GMT

It’s not a secret anymore that the eurozone will soon head into a recession but there is something that is even more certain in the region and that is inflation. The European Central Bank will likely provide more weight on the price risks when it gathers this week, and although it is between a rock and a hard place, it may decide to up the stakes by delivering a Fed-like rate hike. The policy announcement and new economic projections will [..]

Daily Market Comment – Gas crisis sinks euro and stocks, pound downbeat ahead of new PM choice

Posted on September 5, 2022 at 9:09 am GMT

Euro plunges again after Russia further cuts gas supplies to Europe Energy crisis and rate hike fears scupper equities’ rebound attempt Pound hits fresh 2-year low as pressure builds before Tories unveil their new leader Oil bounces back ahead of OPEC+ decision amid output cut speculation Europe’s energy woes deepen ahead of ECB meeting The euro slid below the $0.99 mark on Monday, brushing its lowest point against the US dollar since December 2002, as fears of energy shortages intensified [..]

Technical Analysis – More misery for EURUSD ahead of ECB

Posted on September 5, 2022 at 7:39 am GMT

EURUSD opened with a gap lower on Monday to chart a new 20-year low at 0.9877. The constraining descending line, which connects all the lows from August 2018, continued to buffer downside pressures ahead of Thursday’s ECB policy announcement, but despite that floor, the technical picture cannot detect any buying appetite. The RSI has erased its latest bounce and is heading south again. Likewise, the Stochastics have also pivoted to the wrong side, while the MACD is trying to resume its bearish wave [..]

Week Ahead – ECB decision highlights central bank trifecta

Posted on September 2, 2022 at 11:21 am GMT

An action-packed week lies ahead, featuring central bank meetings in the Eurozone, Canada, and Australia, an output decision from the OPEC cartel, and the selection of the next UK prime minister. The ECB will likely steal the show, as policymakers seem prepared to roll out the big guns to defend the sinking euro. Euro squeeze? There has been a striking change in tone from the European Central Bank lately. Several officials have stressed the need to raise interest rates forcefully, [..]

Daily Market Comment – Financial world locks gaze on US employment data

Posted on September 2, 2022 at 8:11 am GMT

Dollar hits 20-year high ahead of the NFPs Strong report could justify aggressive Fed hikes Yen, euro lose the most; loonie takes the first place Dollar climbs higher as data support forceful Fed The US dollar continued flexing its muscles against all but one of the other major currencies on Thursday and during the Asian trading session Friday, with the dollar index hitting a 20-year high. Dollar traders kept adding to bets for another triple hike by the Fed at [..]

Daily Market Comment – Eurozone inflation closer to double digits, dollar reclaims its crown

Posted on September 1, 2022 at 7:59 am GMT

Record Eurozone inflation corroborates a 75bps hike Fed’s Mester gives the dollar its crown back Equities slide on the back of stronger dollar, yields rise Euro holds steady as inflation hits new record The US dollar reclaimed its throne on Wednesday, outperforming all the other major currencies. Yet, the euro held its own against its US counterpart, losing the least ground as Eurozone inflation accelerated to a new record high of 9.1% year-over-year, surpassing economists’ expectations of 9.0%. With inflation [..]

Technical Analysis – EURUSD battles with parity level

Posted on August 31, 2022 at 1:47 pm GMT

EURUSD bears are making a comeback and trying to regain control, after a failed attempt to hold above the critical 1.0000 mark. Prior to this, the pair was unable to penetrate the declining channel to the upside and the momentum indicators are currently signalling that further bearish movements may be on the horizon. The RSI is moving lower in the negative territory, and the MACD appears ready to resume its downward wave below its red trigger and zero lines. In [..]

Daily Market Comment – Euro sustains a close above parity ahead of inflation data, equities keep falling

Posted on August 31, 2022 at 8:50 am GMT

Euro/dollar above parity ahead of Eurozone inflation data Equities stay wounded as central banks show more teeth Canada’s GDP to add to the case of a 75bps hike by the BoC ECB remarks and natural gas setback hoist euro The euro was the main gainer against all the other major currencies in the last 24 hours, with king dollar settling in second place. Concerns expressed by several ECB rate-setters over its depreciation, their willingness to take rates higher than previously [..]

Dollar fires up ahead of nonfarm payrolls – Forex News Preview

Posted on August 30, 2022 at 2:28 pm GMT

The latest US employment report will be released at 12:30 GMT Friday and will test the notion that the economy is in solid shape. Business surveys point to some softness in jobs growth, but nothing dramatic yet. As for the dollar, it is enjoying the best of all worlds – widening interest rate differentials, a lack of alternatives, and safe-haven flows. Optimism vs pessimism There is a raging debate going on about the strength of the US economy. Pessimists cite [..]

Daily Market Comment – Euro takes another shot at parity, stocks stabilize

Posted on August 30, 2022 at 8:48 am GMT

Euro inches higher, short squeeze brewing as ECB rolls out big guns Wall Street futures trade higher, but outlook remains challenging German inflation and US consumer confidence data coming up Euro squeeze? The week started off with a bang as the aftershocks of the Fed’s ‘whatever it takes’ message reverberated across the FX arena. A sharp spike in global bond yields dealt a heavy blow to the Japanese yen, which has been plagued by widening rate differentials, while the British [..]

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