Mon, Mar 01, 2021 @ 07:20 GMT
Home Tags USD

USD

Can Powell’s Commitment Cause A Pause In The Steeping Trend On Global Interest Rate Markets?

Markets Investors continued pondering how to cope with different aspects of the reflation trade. Rising yields and an astonishing commodity rally are a sign of optimism on the economic rebound, but might also became a source of volatility. European equities initially nosedived but reversed most of the losses. US indices...

GBP/USD Steadies On Lockdown Lifting Optimism

The British pound sterling, which has already seen a strong bull run got another boost on Tuesday. The UK Government prepared a roadmap towards re-opening its economy. This puts further upside pressure on the currency pair which is already enjoying a strong rally. Price action is trading outside the rising price...

EUR/USD Perched In Resistance Area

The euro currency is strongly consolidating within the resistance levels of 1.2177 and 1.2144. Price action managed to rise to the upper level of the range before giving back the gains. The volatility in the tight range comes as the Federal Reserve Chairman Jerome Powell testifies to Congress. A breakout above...

GBP/USD Pair Moved Further Into A Positive Zone Above The 1.4100 Resistance

The British Pound started a strong increase above the 1.4000 resistance zone against the US Dollar. The GBP/USD pair even climbed above the 1.4100 resistance to move further into a positive zone. There was also a break above a key rising channel with resistance near 1.4150 on the hourly chart....

USDJPY 105.00 Bounce Zone

The US dollar has staged a bounce from the 105.00 level against the Japanese yen currency after the pair suffered due to the recent sell-off in US stocks. The USDJPY pair is currently trapped within a rising price channel, which is located between the 104.80 and 106.30 levels. The...

EURUSD 1.2160 Struggle

The euro is struggling to build upside traction against the US dollar as buying interest above the 1.2160 resistance area remains extremely limited. The upper Bollinger Band and a key trendline on the daily highlight the strong area of resistance bulls need to break, around 1.2160. Failure to surpass...

New Zealand Dollar Spikes After The RBNZ Decision

The New Zealand dollar rose slightly after the Reserve Bank of New Zealand (RBNZ) interest rate decision. The bank left the main interest rate unchanged at 0.25% and the target of its quantitative easing program at N$100 billion. Further, its lending program for businesses will also continue. In a...

Fed Powell Cautioned about Uneven Recovery, Pledged to Maintain Stimulus

At the testimony before the Senate, Fed Chair Jerome Powell cautioned that the economic recovery is uneven. He pledged to maintain sufficient support to achieving the employment and inflation targets. Concerning economic developments, Powell refrained from sending a too optimistic message. He affirmed that the recovery highly depends on the...

CHF Selloff Intensifies, NZD Rises after RBNZ

New Zealand Dollar rises broadly today after RBNZ stood pat and didn't sound particularly concerned with the strong exchange rate. Though, Sterling remains the strongest one, continued to be supported by lockdown exit optimism. Other commodity currencies are also firm despite steady risk market sentiments. Yen and Swiss Franc...

NZD/USD and NZD/JPY surges, RBNZ not too concerned with strong Kiwi

New Zealand Dollar surged after RBNZ rate decision, as the central bank didn't sound particularly concerned about recent surge in exchange rate. "The gains from higher export commodity prices have been somewhat offset by the stronger New Zealand dollar" was the only thing that mentioned. In the key baseline scenario...

Market Morning Briefing: Dollar Index Has Not Been Able To Sustain Below 90 And Has Risen A Bit

STOCKS Dow still keeps alive the chances of seeing a rise to 32000 before witnessing a correction. But other major indices like DAX and Nikkei are not showing any strong signs to see a rise from here. Instead they look vulnerable to fall from here itself. DAX can break 13800...

AUD/USD Rallies Above 0.7900, Dollar Struggle Continues

Key Highlights AUD/USD climbed higher above the 0.7850 and 0.7900 resistance levels. It broke a major ascending channel with resistance at 0.7860 on the 4-hours chart. NZD/USD also gained bullish momentum and cleared the 0.7300 resistance. GBP/USD remains in a strong uptrend above 1.4000 and 1.3950. AUD/USD Technical Analysis After forming...

USD/CHF And DXY Diverge

The DXY and USD/CHF have been trading together for most of 2021. The correlation coefficient has been above 0.90 for over a month. A correlation coefficient of +1.00 means that the 2 assets move together 100% of the time. Many fx traders who may not have access to the...

EUR/USD – Battle Of The Head And Shoulders

Correction over? It's been a few weeks since EUR/USD broke below the neckline of its head and shoulders and the response since has been a little sluggish, to say the least. The trend was starting to look very favourable for the dollar as it enjoyed a bit of a resurgence, taking...

USDCAD Finds Footing at Multi-Year Lows; Pauses its Descent

USDCAD is consolidating in the vicinity of the 34-month low of 1.2580. The Ichimoku lines are reflecting the pause in negative momentum, while the falling 50- and 100-period simple moving averages (SMAs) are promoting further deterioration in the price. The short-term oscillators are conveying mixed signals in directional momentum. The...

All Eyes on Powell

An uninspiring start to trading on Tuesday, with all eyes clearly on Jerome Powell's testimony in the Senate after the open. European stocks have pulled back as the morning has progressed and find themselves largely in negative territory and US futures suggest we're going to similar moves there, with tech...

Sunset Market Commentary

Markets European equity markets held a cautious bias following a mixed Asian session. The recent surge in commodities (although less the case today) and yields continues to weigh on stocks that have already been frontrunning the post-pandemic recovery with great enthusiasm. Stocks quickly slipped in the red after opening flat...

GBP/USD is Poised for New Highs

The GBP/USD is bullish. We should see an uptrend continuation from 1-2-3 pattern after a retracement. If the retracement happens watch out for 78.6-88.6 POC zone. 1.3990-1.4005 is the zone where the price might be rejected from. A bounce could also happen above 1.4100. In both cases 1.4140 is the...

Sterling Stronger on Reopening Optimism, Dollar Stabilizes

Sterling rises broadly today as UK Prime Minister Boris Johnson said he's "hopeful" and "very optimistic " to end pandemic restrictions on June 21, based on the "one-way road to freedom" roadmap unveiled yesterday. Canadian Dollar is Dollar is following as second strongest, with a little help from oil...

EUR/USD Remains Below 1.2180 

During Monday morning, the EUR/USD currency pair bounced off the resistance level at 1.2180. It is likely that the exchange rate could gain support from 55-hour moving average near 1.2140. Thus, some upside potential could prevail in the market. In this case the rate could target the 1.2220/1.2240 range. In the...

GBP/USD Tests Weekly R1

Since Monday afternoon, the GBP/USD exchange rate has been testing the weekly R1 at 1.4092. It is likely that the currency pair could gain support from the 55-hour moving average near 1.4030. Thus, some upside potential could prevail in the market. In this case the pair could target the weekly...

USD/JPY Could Trade Downwards

During today's morning hours, the USD/JPY currency pair reversed north from the 104.95 mark. It is unlikely that some upside potential could prevail in the market due to the resistance area formed by the 55-, 100– and 200-hour moving averages, as well the weekly PP in the 105.40/105.60 range. Therefore, it...

The US Dollar Continues To Fade

Cyclical rotation pushes dollar down The US dollar found no solace in higher longer-end bond yields overnight, likely because the move was mirrored to some extent among other developed market currencies. The greenback suffered as the cyclical rotation into global recovery positioning continued gaining momentum. The dollar index fell 0.40%...

USD/CHF 4H Chart: Buying Signal

The US Dollar has edged higher by 1.57% against the Swiss Franc since last week's trading sessions. The USD/CHF currency pair breached the weekly R1 at 0.9014 on February 23. Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could continue to surge in...

GBP OnThe Rise As Pandemic’s End In Sight

The GBP seems to continue its rise against the USD, EUR,JPY and CHF as the UK has started plans on lifting the restriction measures. It's characteristic that UK's PM Johnson stated that the end of the pandemic is “in sight”, providing further confidence in the markets. Johnson explained a...

The Analytical Overview Of The Main Currency Pairs

The EUR/USD currency pair Technical indicators of the currency pair: Prev Open: 1.2114 Prev Close: 1.2156 % chg. over the last day: +0.35%. The growth of all three indicators of the ease of doing business in Germany from the IFO institute has become a driver for building up long positions in euros. Since not...

Dollar And Tech Shares Suffer Ahead Of Powell’s Testimony

Tech stocks slump as higher yields bite, but FX and commodities calm Dollar lags despite equity selloff, highlighting recent shift in dynamics All eyes on Chairman Powell's testimony today, and RBNZ decision afterward Nasdaq gets smoked as value outshines tech It was a particularly strange session on Monday, with many...

LTCUSD $135.00 Possible

Litecoin is coming under fire on Tuesday as the wide-spread sell-off in the cryptocurrency market is pressuring the top altcoins. A bearish head and shoulders pattern has been activated, following a breakout under the neckline support, around the $185.00 level. According to the overall size of the pattern, the...

Every Man For Himself

US dollar dips, markets eye Powell testimony Financial markets have an every man for himself look about them today, as various asset classes diverge in their own directions. A combination of tightening yields and the impending two-day testimony by Fed Chairman Powell starting today in Washington DC seems to have...

GBPUSD Extends Gains Over 1.4000, Upside Pressures Persist

GBPUSD is trailing the upper Bollinger band hiking to a new 34-month high of 1.4085. The pair is exhibiting a sturdy positive tone, something also reflected in the short-term oscillators. The price is steadily progressing above the climbing simple moving averages (SMAs), which are conveying a predominant bullish demeanour. The...