All Articles Tagged - EURUSD

Eurozone inflation set to hit new record as gas prices keep soaring – Forex News Preview

Posted on August 29, 2022 at 2:56 pm GMT

With the August S&P flash composite purchasing managers index (PMI) signaling that the Euro area economy is on the verge of recession and the problem of energy supply in Europe getting worse day by day, euro traders have been reluctant to bring euro/dollar back above parity permanently. Now they may turn their gaze to Eurozone’s preliminary inflation numbers for August, due out on Wednesday at 09:00 GMT, as they try to figure out what the outcome will mean for the [..]

Daily Market Comment – Fed’s shock tactics sink equities, supercharge the dollar

Posted on August 29, 2022 at 8:48 am GMT

Fed chief Powell sends a ‘forceful’ message about slaying inflation Stocks and risk-sensitive currencies tank, alongside yen and gold Dollar is the only winner as it hits fresh two-decade highs Shock therapy The Fed chief resorted to shock tactics on Friday, striking a forceful tone about his resolve to win the inflation battle and sending financial markets into a tailspin. His overarching message was that the Fed is committed to do whatever it takes to cool inflation even if that [..]

Technical Analysis – EURUSD’s bearish wave remains intact

Posted on August 29, 2022 at 6:37 am GMT

EURUSD’s bears are attempting to take control again after several failed endeavours to surpass the key 1.0000 level. Previously, the pair was unable to find sufficient buying interest to exit the 2022 downward-sloping channel, and the momentum indicators are currently warning that there might be additional bearish occurrences in the near future. The MACD looks ready to re-activate its negative wave below its red trigger and zero lines, while the RSI is approaching its 30 oversold level. In the bearish scenario, the decline may gather substantial pace towards the 0.9835 support, [..]

Week ahead – NFP report, Eurozone inflation under the microscope as markets wobble

Posted on August 26, 2022 at 9:43 am GMT

The US nonfarm payrolls report will take centre stage next week as speculation about the size of the Fed’s next rate hike goes into overdrive. Investors will also be keeping a close eye on the latest inflation readings in the euro area ahead of the September rate decision amid growing gloom about the bloc’s economic outlook. PMI indicators out of China and as well as quarterly data from Australia and Canada will be important too in helping to gauge the [..]

Daily Market Comment – Dollar steady, stocks fire up as Jackson Hole begins

Posted on August 26, 2022 at 8:25 am GMT

Traders waiting for Powell’s speech – will he right the ship? Little action in FX complex, but stock markets edge higher Oil takes a hit on Iran news, UK raises energy price cap All about Powell The main event today will be the much-anticipated speech by Fed Chairman Powell at 14:00 GMT before the Jackson Hole symposium. This platform has been used in the past to signal strategy shifts, so market participants will be hanging on his lips for any [..]

Daily Market Comment – New stimulus measures from China spread cheer

Posted on August 25, 2022 at 9:11 am GMT

China ramps up economic stimulus, US confirms student loan relief Dollar retreats despite rising yields, commodity currencies recover Stocks edge higher too, but caution lingers ahead of Jackson Hole China steps up Global markets woke up in a sunny mood on Thursday, taking comfort from signs that China is stepping up its stimulus game. Beijing announced a new round of spending measures overnight, amounting to almost 1% of national output, which will be calibrated towards infrastructure spending to reinforce an [..]

Technical Analysis – EURUSD fails to move end sessions above 1.0000

Posted on August 25, 2022 at 8:40 am GMT

EURUSD’s rebound off the 0.9900-0.9910 support, sent the market higher and a spike above the parity level but is currently heading south. The RSI is flattening near the neutral threshold of 50, while the MACD is rising above its trigger line in the negative region. If the market corrects higher, the bullish action may pause initially near the 40-day SMA at 1.0042 before attention shifts to the 38.2% Fibonacci retracement level of the down leg from 1.0370 to 0.9900 at [..]

Fed’s favorite inflation gauge eyed ahead of Jackson Hole event – Forex News Preview

Posted on August 24, 2022 at 3:21 pm GMT

The core PCE index due for release on Friday at 12:30 GMT will be the last piece of economic information ahead of the Jackson hole symposium. Hence, although investors have already gotten some taste of inflation in July and may not get surprised in the wake of a potential slowdown, personal consumption and income figures accompanying the survey might still be important to watch. If the figures mirror a fragile demand picture, the latest bearish correction in the dollar may gain another leg. [..]

Daily Market Comment – Soft business surveys put the brakes on dollar rally

Posted on August 24, 2022 at 9:06 am GMT

Dollar cools off after gloomy surveys highlight Fed’s dilemma Stock markets keep grinding lower as risk buyers go on strike Oil spikes higher on OPEC reports, gold attempts recovery Fed dilemma A disappointing batch of US economic data knocked the wind out of the dollar rally yesterday, although the reserve currency recouped most of its losses in the following hours with a little help from the Fed’s Kashkari, who emphasized the central bank’s determination to eradicate inflation. The latest business [..]

Fed could use Jackson Hole to right the ship – Forex News Preview

Posted on August 23, 2022 at 3:01 pm GMT

With Fed officials heading to Jackson Hole, market participants are bracing for turbulence. Despite raising rates with incredible force, US yields remain stubbornly low as markets speculate about rate cuts next year. That’s counterproductive for a central bank still fighting inflation, and if Chair Powell attempts to ‘right the ship’ in his speech on Friday, that could extend the retreat in stock markets but supercharge the dollar. Unofficial meeting Once per year, Fed officials gather at their summer retreat in [..]

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