Category: EURUSD
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Eurozone heading into recession, sell EUR/USD
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Investing.com – The euro performed relatively well in July when measured against the U.S. dollar, but BCA Research sees tough times ahead for the euro zone and advises investors to sell the single currency. At 08:50 ET (12:50 GMT), the pound was trading at 1.0818, down 0.4% on the day…
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European markets mixed ahead of key central bank meetings (EUR:USD)
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Yuji Sakai London (UKX) +0.64% Germany (DAX:IND) +0.32% France (CAC:IND) -0.18% Sweden’s economy shrank by 0.8% quarter-on-quarter in the three months to June. The Finnish consumer confidence index rose to -7.2 in July. Manufacturing confidence in Finland rose to -12 in July. European Stoxx 600 Index (STOXX)) It increased by…
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Kickstart the FX trading day for July 26 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the opening video for July 26, 2024, I take a look at three other major currency pairs from a technical perspective – EURUSD, USDJPY, and GBPUSD. The EUR/USD pair has been trading up and down for the past three days. In favor of the buyers, the low today has…
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Kickstart the FX trading day for July 19 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In my opening video on July 19, I took a look at the three major currency pairs – EURUSD, USDJPY, and GBPUSD. The EUR/USD pair fell, continuing the decline it started yesterday, and in the process tested its rising 200-hour moving average at 1.08794. This moving average will serve as…
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UBS raises EUR/USD forecast amid US data and Fed rate cut prospects By Investing.com
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UBS revised its exchange rate forecasts, citing a lack of strength in the US dollar despite expectations that some political events would support it. Contrary to these expectations, gold and bitcoin prices rose, but not the US dollar. UBS’s adjustment reflects a complex interplay of factors, including recent weak U.S.…
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UBS raises EUR/USD forecast amid US data and Fed rate cut prospects By Investing.com
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UBS revised its exchange rate forecasts, citing a lack of strength in the US dollar despite expectations that some political events would support it. Contrary to these expectations, gold and bitcoin prices rose, but not the US dollar. UBS’s adjustment reflects a complex interplay of factors, including recent weak U.S.…
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UBS raises EUR/USD forecast amid US data and Fed rate cut prospects By Investing.com
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UBS revised its exchange rate forecasts, citing a lack of strength in the US dollar despite expectations that some political events would support it. Contrary to these expectations, gold and bitcoin prices rose, but not the US dollar. UBS’s adjustment reflects a complex interplay of factors, including recent weak U.S.…
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EURUSD extends to swing area/high from June
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EURUSD extends into swing territory As with GBP/USD, EUR/USD has reached fresh highs as European traders look to exit the week. The move takes the price towards the June 2024 high at 1.0915 and a longer swing area between 1.0909 and 1.0918. A break of this area would be required…
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UBS maintains EUR/USD longer-term target at 1.0500 post French election By Investing.com
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UBS kept its long-term target for the exchange rate at 1.0500, following the French parliamentary elections, citing weakness in the far-right National Rally party and a strong showing by President Emmanuel Macron’s centrist party. Despite the uncertainty surrounding the formation and composition of the new French government, UBS highlighted that…
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BofA sees EUR/USD parity as a rare event, ‘unlikely’ to happen By Investing.com
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Analysts at Bank of America noted that while some market watchers continue to speculate that the exchange rate could reach parity, such an event is considered rare and short-lived historically. They pointed to a chart showing that, with the exception of the dot-com bubble burst, the probability of a currency…
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Deutsche Bank says Trump presidency + China tariffs = EUR/USD @parity
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In an interview with Bloomberg TV, Deutsche Bank’s George Saravelos spoke about the main point he made in his talk about the euro: “Imagine a situation where the US erects a massive tariff wall against China.” “All these Chinese goods will have to be diverted to other markets including Europe,…
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Kickstart the FX trading day for July 5 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In this July 5, 2024 Forex Market Opening Video, I take a technical look at the three major currency pairs – EURUSD, USDJPY, and GBPUSD. Today, the US jobs report was mixed, with nonfarm payrolls in June coming in above expectations, but revisions for the previous two months offsetting those…
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ForexLive Asia-Pacific FX news wrap: EUR/USD gapped higher (not a huge gap)
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The Chinese President says he is ready to work with Australia European Central Bank President Lagarde speaks on Monday Bitcoin is back above $63,500 China Caixin Manufacturing PMI June 2024 51.8 (FX: 51.2, Previous: 51.7) Australian Special Inflation Survey, June 2024: +0.3% m/m (previously +0.3%) Roaring Kitty sued for securities…
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ForexLive Asia-Pacific FX news wrap: EUR/USD gapped higher (not a huge gap)
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The Chinese President says he is ready to work with Australia European Central Bank President Lagarde speaks on Monday Bitcoin is back above $63,500 China Caixin Manufacturing PMI June 2024 51.8 (FX: 51.2, Previous: 51.7) Australian Special Inflation Survey, June 2024: +0.3% m/m (previously +0.3%) Roaring Kitty sued for securities…
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MUFG: EUR/USD outlook amid French elections and June NFP print
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Euro to US Dollar Monthly MUFG discusses the potential impact of the French elections and June’s non-farm payrolls report on EUR/USD. The focus is on the risk premium already priced into EUR/USD and how the election results could influence further moves. the main points: the current situation: Stability: The EUR/USD…
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EUR/USD may face parity risk amid bumpy political backdrop ahead By Investing.com
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Investing.com – The euro has struggled recently as political uncertainty in Europe returns, but events across the pond in the U.S. could have a bigger impact, potentially pushing the euro toward parity against the dollar if the Trump White House pursues aggressive protectionist trade policies. “We expect EUR/USD (and many…
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3 scenarios for the EUR/USD in response to French legislative elections
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Investing.com – The euro has fallen significantly in recent weeks, particularly affected by the shock of the dissolution of the National Assembly in France and the resulting political uncertainty. In a note published on Tuesday, Citi analysts highlighted that the reaction of the EUR/USD pair was more significant than they…
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Kickstart the FX trading day for June 21 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the June 21 kickoff video, I look at the three major currency pairs from a technical perspective and explain what the bias is, what the risks are, and what the objectives are for each. EURUSD corrected higher to test a 61.8% retracement of the up move from the April…
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EURUSD tests broken swing area between 1.0720 and 1.0735
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EURUSD is testing a swing zone between 1.0720 and 1.0735 EURUSD fell below the swing zone on Friday between 1.0720 and 1.0735. The selling intensified, and the low price moved towards 1.0666 before bouncing back at Friday’s close. Today, the initial move was to the downside in the Asian session,…
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EURUSD Technical Analysis – The pair broke through a key support
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Basic overview The US dollar was sold off across the board on Wednesday following the release of a weak US CPI report. This data has prompted the market to re-price the discounts twice this year. Later in the day, we got a tougher than expected decision from the FOMC as…