All Articles Tagged - EURUSD

Technical Analysis – EURUSD continues to trade within tight boundaries

Posted on August 8, 2022 at 8:04 am GMT

EURUSD has been trading sideways for three weeks after the price managed to rebound from the 20-year low of 0.9951. In addition, the pair is currently standing below both its descending 50- and 200-day simple moving average (SMAs), endorsing a broader bearish technical picture. The momentum indicators suggest that near-term risks are tilted to the downside. Specifically, the MACD histogram remains in the negative territory but above its red signal line, while the RSI is flatlining beneath its 50-neutral mark. Should [..]

Week Ahead – US inflation report to cast light on Fed’s path

Posted on August 5, 2022 at 10:57 am GMT

Another decisive week for global markets lies ahead. The main event will be the latest CPI report from the United States, which will reveal whether inflation has finally started to cool off. That’s what business surveys and commodity prices suggest, setting the stage for a retracement in the almighty dollar. Recession blues Market participants are playing a cat and mouse game, constantly shifting back and forth between worrying about inflation or growth. When incoming data points to a resilient economy, [..]

Daily Market Comment – Stocks drift, dollar firms as markets brace for US jobs slowdown

Posted on August 5, 2022 at 9:33 am GMT

NFP report awaited as recession risks remain front and centre Dollar inches higher ahead of the jobs data, stocks drift sideways Pound regains footing after fall from BoE’s warning of long recession Oil steadies after sliding again, gold shines as yield-curve inversion deepens Jobs report to put US economy to the test Recession jitters were abound on Friday even as markets got off to a steady start following a few wobbles along the week. PMI indicators around the world painted [..]

Dollar awaits nonfarm payrolls as recession worries mount – Forex News Preview

Posted on August 2, 2022 at 2:47 pm GMT

With the US economy teetering on the edge of recession, all eyes will be on the latest employment data at 12:30 GMT Friday. Another solid jobs report is expected, yet various indicators suggest the labor market has started to lose steam. While a disappointment could extend the latest retreat in the dollar as markets price out some Fed tightening, it’s still too early for a trend reversal. Is it a recession? The US economy has now contracted for two consecutive [..]

Technical Analysis – EURUSD extends horizontal move but optimism still intact

Posted on August 2, 2022 at 2:11 pm GMT

EURUSD has been trapped below the flattening blue Kijun-sen line at 1.0275 since mid-July, unable to extend its latest bullish correction towards the upper surface of the bearish channel at 1.0400. The technical picture suggests the bulls may not give up the battle yet as the RSI remains elevated, although struggling to surpass its 50 neutral mark. The MACD keeps gaining ground within the negative area and above its red signal line, while the stochastics maintain an upward slope. In the medium-term [..]

Daily Market Comment – US-China tensions dent appetite as yields crumble, dollar creeps higher

Posted on August 2, 2022 at 9:36 am GMT

Stocks turn red amid renewed Sino-US tensions as Pelosi expected in Taiwan Yen extends winning streak, dollar also catches a bid as bond yields skid Aussie plummets after RBA decision, pound rally loses steam too as BoE eyed Threat of geopolitical flare-up dampens mood Risk sentiment took a knock on Tuesday as it emerged that the Speaker of the US House of Representatives Nancy Pelosi is on her way to Taiwan, defying China’s strong advice against visiting the disputed territory. [..]

Daily Market Comment – Dollar slips further as easing rate hike bets bolster stocks

Posted on August 1, 2022 at 9:37 am GMT

Dollar spun around by mixed data, eventually resuming its slide along with yields Tech and oil earnings stretch S&P 500’s monthly gain to 9% But some caution as weak Asian manufacturing PMIs lift yen Fed rate hike bets continue to waver The US dollar has started August on the backfoot as markets are increasingly convinced that the Federal Reserve’s rate hike days are numbered, while Wall Street has just notched up its best month since November 2020, cheered by more [..]

Technical Analysis – EURUSD extends consolidation slightly above parity

Posted on August 1, 2022 at 7:21 am GMT

EURUSD has been trading within a tight range after it managed to rebound from the 20-year low of 0.9951. In addition, the price is currently standing below both its descending 50- and 200-day simple moving average (SMAs), endorsing a broader bearish technical picture. The momentum indicators suggest a cautiously positive near-term tone. Specifically, the stochastic oscillator is sloping upwards after posting a bullish cross, while the MACD histogram has jumped above its red signal line but remains in the negative [..]

Week Ahead – Bruised dollar looks to NFP report; BoE could speed up rate hikes

Posted on July 29, 2022 at 12:01 pm GMT

The coming week is shaping up to be another crucial one for gauging recession risks and monetary policy paths. It’s NFP week in the United States and the RBA and Bank of England will decide whether to accelerate their hiking cycles. The ISM PMIs are bound to attract a lot of attention as well in the US as growth concerns intensify. Elsewhere, employment figures in Canada and New Zealand, and manufacturing PMIs out of China will be the highlights. Meanwhile, [..]

Daily Market Comment – Stock markets party even as US economy contracts

Posted on July 29, 2022 at 8:57 am GMT

US economy flirts with recession after second negative GDP print Bad news is good news for stock markets, solid earnings help too Yen stages sharp comeback, dollar loses some steam, gold bounces Don’t call it recession The United States is teetering on the edge of a recession after the economy shrank for a second consecutive quarter, adding another headache for Federal Reserve officials in their fight against roaring inflation. Dissecting the GDP report, the silver lining was that much of [..]

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