EURUSD

Week ahead – ECB, BoJ, and BoC meet before crucial European and UK PMIs

Posted on January 17, 2020 at 1:41 pm GMT

It’s going to be an action-packed week, with three major central bank meetings and a storm of economic data likely to keep traders glued to their screens. The European Central Bank is unlikely to signal anything radical, so the euro might be driven mainly by the bloc’s PMI data. The Bank of Japan meeting could also be a snoozer, though there is a case to be made for the Bank of Canada to adopt a more dovish tone. In Britain, [..]

Daily Market Comment – US earnings and data, China GDP propel stocks to fresh highs; dollar nears 8-month high vs yen

Posted on January 17, 2020 at 9:24 am GMT

China reports slowest annual growth in 29 years but signs of rebound at year-end Stocks climb to new records amid ongoing trade optimism and positive earnings String of upbeat data out of the US also boosts risk appetite China’s growth slows in 2019 but recovery could be underway Economic growth in the world’s second largest economy reached the slowest in 29 years according to GDP numbers out of China this morning. GDP expanded by 6.1% for the full year in [..]

Daily Market Comment – Phase One deal brings some cheer despite doubts; dollar drifts lower

Posted on January 16, 2020 at 9:21 am GMT

US and China finally sign ‘phase one’ trade deal; stocks head into record territory Details of deal fail to reassure sceptics about enforcement and target for Chinese purchases Focus to shift to data with US retail sales and Chinese Q4 GDP coming up Markets buoyed as Phase One deal clears final hurdle US President Donald Trump and Chinese Vice Premier Liu He put pen to paper to the long-awaited ‘Phase One’ deal on Wednesday, hoping to draw a line over [..]

Daily Market Comment – Markets turn cautious ahead of trade deal signing as Mnuchin dashes hopes of further tariff cuts

Posted on January 15, 2020 at 9:10 am GMT

Risk appetite eases as details of ‘phase one’ trade deal expected to reveal few surprises US Treasury Secretary Steven Mnuchin suggests no additional tariff rollbacks before ‘phase two’ Stocks slip into the red, yen and franc edge up Market mood dampened ahead of trade deal signing The highly anticipated signing of the ‘phase one’ trade pact between the United States and China will take centre stage later today but with the deal already fully priced in by investors, the event [..]

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ECB minutes: Doves vs hawks in a framework review – Forex News Preview

Posted on January 14, 2020 at 4:10 pm GMT

The minutes of the latest European Central Bank (ECB) meeting are due at 12:30 GMT on Thursday. Investors will look for any details about the central bank’s framework review, and specifically, about whether the inflation target may be changed. ECB President Lagarde will speak a few hours later, at 18:00 GMT. As for the euro, the outlook still looks bleak, with economic growth barely positive and the risk of an escalation in US-EU trade tensions looming. Don’t celebrate yet The [..]

Daily Market Comment – Dollar hits 110 yen after US removes China as currency manipulator

Posted on January 14, 2020 at 9:17 am GMT

US removes currency manipulator label from China ahead of signing of trade deal Yuan surges, yen slides as risk-on theme continues Wall Street hits another record as earnings season gets into full gear US-China tensions thaw further ahead of trade deal signing Relations between the United States and China got a boost on Monday after the US Treasury Department decided to no longer designate China as a currency manipulator. The announcement, which comes just two days before the two countries [..]

Daily Market Comment – Risk assets remain well bid ahead of signing of trade deal; pound slips on rate cut speculation

Posted on January 13, 2020 at 9:31 am GMT

Risk assets start week on positive note, driven by optimism of ‘phase one’ trade deal being signed on Wednesday Risk-on sentiment, along with easing Iranian tensions, weigh on safe havens; gold and yen slide Pound under pressure as more BoE policymakers join the rate cut bandwagon Trade deal optimism continues to set market tone The week got off to an upbeat start as investors set their sights on the imminent signing of the US-China trade pact on Wednesday, which is [..]

Technical Analysis – EURUSD pushes for a rebound but bulls waiting above 1.1200

Posted on January 13, 2020 at 8:31 am GMT

EURUSD started the year on the negative side, closing with marginal losses for the second week. The pair, however, managed to pause its sell-off near the 50-day simple moving average (SMA) on Friday, where the 38.2% Fibonacci of the 1.1411-1.0878 downleg is located, retaining at the same time its upward direction off the 28-month low of 1.0878 alive. The 50% Fibonacci of 1.1144 is currently in target as the reversing RSI and the Stochastics are endorsing the recent positive correction [..]

Week Ahead – US and China set to seal Phase One deal ahead of Chinese Q4 GDP release

Posted on January 10, 2020 at 11:13 am GMT

The United States and China will finally put pen to paper on the hard-fought ‘phase one’ deal on January 15, ending months of trade uncertainty and hostilities. However, it will be too early for the ebb in trade tensions to have benefited China’s export-heavy economy in the fourth quarter and GDP numbers due out of the country will likely leave markets underwhelmed. It will be an important data week in the UK and US as well, with monthly industrial output, [..]

Daily Market Comment – US stocks carve out new highs ahead of Nonfarm Payrolls

Posted on January 10, 2020 at 9:16 am GMT

Wall Street hits new records and US jobs data today may add fuel to the rally Canada’s employment figures also due – asymmetric risk for loonie? Pound drops on dovish BoE comments and may still have some way to go Nonfarm payrolls: More fuel for stocks? The main event today will be the US employment report for December. Nonfarm payrolls (NFP) are forecast to clock in at 164k, less than the astounding 266k in November, but still a solid number [..]

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