Technical Analysis – EURUSD fights to revive the ascent; bullish signals dominate

Posted on December 17, 2020 at 10:08 am GMT

EURUSD is prodding at the 1.2245 border attempting to restore the upwards drive. The climbing simple moving averages (SMAs) are conveying a positive demeanour, promoting further advances in the pair. The short-term oscillators are displaying growing positive momentum. The MACD, in the positive region, is climbing above its red trigger line, while the upwards creeping RSI is nearing the 70 level. Moreover, the stochastic %K line is moving higher above its %D line in overbought territory and has yet to [..]


Daily Market Comment – Dollar whipsaws on Fed’s dovish guidance, upbeat forecasts

Posted on December 17, 2020 at 9:56 am GMT

Fed commits to current pace of QE until it sees “substantial further progress” Dollar jumps on modest tweak, rosy outlook before being pummelled by dovish Powell Pound continues to soar on Brexit deal optimism, euro climbs new highs too Aussie and kiwi on a roll as strong data, US stimulus hopes maintain bullish momentum Fed disappoints before Powell has to reassure The Federal Reserve pledged on Wednesday to keep buying bonds at the existing pace of $120 billion per month [..]


Daily Market Comment – Two deals in the making and a Fed dilemma

Posted on December 16, 2020 at 10:10 am GMT

US congressional leaders close in on a stimulus deal as talks continue Brexit chatter lifts pound amid rumours a trade deal is within grasp Dollar on the backfoot ahead of least predictable Fed meeting of the year Hopes rise for a deal in Congress Hopes are running high on Capitol Hill that a stimulus deal can be reached after reported progress on Tuesday. US political leaders are set to meet again later today as they inch closer to agreeing on [..]


Eurozone flash PMIs may keep outlook blurry, but the euro may not care – Forex News Preview

Posted on December 15, 2020 at 4:07 pm GMT

Eurozone preliminary PMI readings for December will be the only highlight in the bloc’s calendar this week on Wednesday at 09:00 GMT, with forecasts pointing to a moderate improvement in business activities. While markets are thirsty for some good news, the euro may keep ignoring data releases and tighter Covid restrictions as a negative GDP print in the fourth quarter is inevitable. The last troubling chapter of Covid-19 story Although virus infections have slowed pace in many euro area countries [..]


Fed likely to skip QE boost, may adjust composition and forward guidance – Forex News Preview

Posted on December 15, 2020 at 2:37 pm GMT

The Federal Open Market Committee (FOMC) begins its two-day policy meeting on Tuesday, with a decision expected on Wednesday at 19:00 GMT. Federal Reserve Chair Jerome Powell will give his last post-meeting press briefing of the year 30 minutes later. After a tumultuous year that saw an unprecedented amount of central bank intervention globally, Powell may draw 2020 to a close with one final dose of stimulus to steer the bumpy US recovery through stormy waters. But with investors betting [..]


Daily Market Comment – Dollar steadies amid fresh virus restrictions; stimulus and Brexit talks linger

Posted on December 15, 2020 at 9:36 am GMT

Tighter virus restrictions dampen vaccine optimism; dollar halts slide, stocks struggle US stimulus talks gain momentum but still no agreement London lockdown knocks pound off its Brexit perch as ‘narrow path’ to deal eyed New virus curbs weigh on sentiment Optimism that an end to the global pandemic is within sight was unable to override the darkening clouds on the immediate horizon as Covid restrictions are on the up again. After Germany’s news that it is to enter a hard [..]


Daily Market Comment – Pound jumps as Brexit deadline extended yet again

Posted on December 14, 2020 at 9:47 am GMT

Pound soars after Britain and the EU agree to continue talking Progress in US stimulus talks also lifts markets’ spirits, dollar sags But cause for caution ahead of Fed meeting, stocks up modestly UK and EU agree to go “extra mile” to get a deal After a bruising week, sterling was once again riding high on renewed optimism for a post-Brexit trade deal on Monday. UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen had set [..]


Technical Analysis – EURUSD’s neutral mode favors bullish trend extension

Posted on December 14, 2020 at 9:04 am GMT

EURUSD has been consolidating gains within the 1.2077-1.2150 restrictive area since rising to a two-year high of 1.2176, kindly supported by the red Tenkan-sen line. Despite the neutral mode, the pair does not seem to be in a troubled zone, but appears to be in a pause after a steep rally that will likely see a continuation towards the 1.2240 barrier if the 1.2150 resistance gives way. The upper surface of the ascending channel would be another important obstacle around 1.2300 if [..]


Daily Market Comment – ECB ‘disappointment’ lifts euro, equities struggle

Posted on December 11, 2020 at 12:05 pm GMT

Euro jumps after ECB fails to over-deliver on stimulus package Stocks bounce as Mnuchin hails progress in stimulus talks, but fall back Oil breaks higher, unscathed by recent negative developments Brexit will continue to dominate ahead of Sunday ‘deadline’ ECB firepower fails to impress markets, euro spikes Those looking for a euro-killing stimulus package by the European Central Bank were left disappointed yesterday, with policymakers delivering exactly as much ‘juice’ as markets anticipated. The Bank expanded its QE program by [..]


Daily Market Comment – Can the ECB muster enough firepower to sink the euro?

Posted on December 10, 2020 at 10:06 am GMT

ECB decision the main event today, can policymakers over-deliver? Stock markets retreat from record highs as US stimulus talks stall Pound drops after top-level Brexit meeting yields no breakthrough Gold under pressure too, yet aussie dollar defies cautious mood ECB preview: Sinking the euro won’t be easy The spotlight will fall on the European Central Bank today, which is widely expected to deliver another easing package of around €500bn, likely complemented by more ultra-generous loans to banks. The bad news [..]

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