Fxview Market Insights

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EURUSD TRADES FLAT AS CENTRAL EUROPE BRACES THIRD WAVE OF CORONAVIRUS


EURUSD trades flat during the Asian trading hours on Thursday as investors refrain from placing aggressive bets amid concerns over third wave of coronavirus across Europe. As of now, EURUSD trades flat at 1.2146 level.

Talking about the previous trading session, EURUSD witnessed a two-way price action amid uncertainty among market participants. The single currency initially edged higher and touched an intraday high of 1.2170 level amid hopes that U.S stimulus worth $1.9 trillion would pave way for economic recovery. However, the shared currency soon erased gains amid a recovery in the greenback. The Americans published CB Consumer Confidence data that increased to 91.3 against the market forecast of 90.2, thus cheering USD bulls on hopes of an economic rebound. Consequently, EURUSD settled the day at 1.2146 level with a loss of 0.04%.

Going forward, investors can take clues from German Final GDP, Tentative German 10-year Bond Auction, Fed Chair Jerome Powell testimony, and U.S New Home Sales data to determine the further direction of the pair.

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EURUSD EDGES HIGHER AMID RISK ON MOOD IN THE MARKET



EURUSD gains momentum on the first day of the trading week during the Asian session owing to risk on sentiments in the market. The investors are expecting faster economic recovery on the back of $1.9 trillion coronavirus relief aid which was passed by the US House of Representatives on Saturday. As of now, EURUSD is trading at 1.2085 level with an appreciation of 0.14%

Coming to the previous trading session, EURUSD plummeted to an intraday low of 1.2062 level as investors feared that escalation in the coronavirus cases across Eurozone would dampen EU economic growth. In addition to this, the decline in French Prelim GDP data to -1.4% against the market forecast of -1.3% weighed on investor sentiments. On the other hand, the Americans, published upbeat personal income and core PCE Price Index statistics that increased to 10.0% and 0.3% respectively. Consequently, EURUSD settled the day at 1.2068 level with a loss of 0.87%.

Moving forward, investors can take clue from a slew of macroeconomic data such as EU Final manufacturing PMI, U.S ISM Manufacturing PMI, Constructing Spending, ISM Manufacturing Prices for further impetus.

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EURUSD TRADES LOWER AMID STRENGTH IN GREENBACK



EURUSD extends losses for the third consecutive trading session on Tuesday amidst broad-based strength in the greenback. The investors' appetite for risk reduced owing to concerns regarding the spread of the Brazilian variant of coronavirus across the Eurozone. As of now, EURUSD is trading at 1.2026 level with a depreciation of 0.15%.

Coming to the previous trading session, EURUSD, initially touched an intraday high of 1.2101 level owing to upbeat market sentiments as investors cheered approval of the $1.9 trillion stimulus package by the U.S House of Representatives. However, the single currency soon erased gains and declined to a fresh two-week low of 1.2027 level as a reaction to upbeat ISM manufacturing PMI data that increased to 60.8 against the market forecast of 58.7. Consequently, EURUSD concluded the session at 1.2045 level with a loss of 0.19%.

Moving forward, investors can take clue from a slew of macroeconomic data such as German Retail Sales, EU CPI Flash Estimate, German Unemployment Change, U.S. IBD/TIPP Economic optimism, Wards Total Vehicle Sales for further impetus.

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EURUSD TRADES FLAT TO NEGATIVE AHEAD OF U.S ADP NON-FARM EMPLOYMENT DATA



EURUSD trades flat to negative in the Asian trading session on Wednesday as investors refrain from placing aggressive bets ahead of U.S ADP Nonfarm Employment change data scheduled later today. As of now, EURUSD is trading at 1.2079 level, mildly negative by 0.06%.

Talking about the previous trading session, initially, the single currency declined to three weeks low of 1.991 level amid an increase in German Unemployment Change to 9 K against the market forecast of -9 K. However, the single currency soon recovered losses as investors hoped for faster economic revival amid prospects for U.S stimulus worth $1.9 trillion. Consequently, the currency pair settled the day at 1.2087 level with an appreciation of 0.68%.

Moving ahead, investors can take a clue from EU Final service PMI data, ADP Non-Farm Employment Change, U.S Final Service PMI, and ISM Service PMI for further impetus.

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EURUSD REMAINS STEADY NEAR 1.2050 LEVEL AHEAD OF POWELL’S SPEECH



EURUSD trades flat with a negative bias in the Asian trading hours on Thursday as investors refrain from placing aggressive bets ahead of Fed Chairperson Powell’s speech who can likely drop clue on future monetary policy. As of now, EURUSD is trading at 1.2058 level with a slight loss of 0.02%.

Coming to the previous trading session, initially, EURUSD surged to an intraday high of 1.2113 level as investors cheered ease in coronavirus restrictions across the Eurozone. Furthermore, the upbeat EU Final Service PMI data that increased to 45.7 against the market forecast of 44.7, underpinned the demand for Euro. However, the shared currency soon reversed gains as the U.S dollar strengthened on the back of reflation fears in the market. Consequently, EURUSD settled the day at 1.2061 level with a loss of 0.21%.

Going forward, market participants can take a clue from ECB Economic Bulletin, Retail Sales, Unemployment Rate, U.S Unemployment Claims, Factory Orders, and Fed Chair Powell Speech for further impetus.

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EURUSD TRADES FLAT TO NEGATIVE AHEAD OF U.S NON-FARM EMPLOYMENT DATA


EURUSD trades flat with a negative bias during the Asian trading hours on Friday as investors refrain from placing aggressive bets ahead of U.S Non-Farm Employment Change data that is scheduled to be released later today. Furthermore, the spike in U.S 10-year Bond Yields benefits the greenback against the single currency. As of now, EURUSD is trading at 1.1963 level with a slight loss of 0.02%.

Coming to the previous trading session, EURUSD came under intense selling pressure and declined to a monthly low of 1.1960 level amidst strength in the greenback. The Federal Reserve Chairperson Jerome Powell in his speech showed no major concerns regarding recent bond action which prompted investors to inject money into U.S Treasury yields. In addition to this, demand for the greenback increased following upbeat U.S Unemployment Claims which declined to 745 K against the market forecast of 758 K. Consequently, EURUSD settled the day at 1.1960 level with a depreciation of 0.83%.

Moving forward, investors can take a clue from German Factory Order, French Trade Balance, U.S Average Hourly Earning, Non-Farm Employment Change, Unemployment Rate, and Trade Balance data for further impetus.

Risk Disclaimer: The vast majority of retail client accounts lose money when trading in CFDs.

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EURUSD EXTEND LOSSES AMIDST STRENGTH IN GREENBACK



EURUSD extends its losses for the fourth consecutive session in the Asian trading hours on Monday in the backdrop of stronger dollar. Besides, the spike in long term US Treasury yields owing to higher inflation expectations is rendering support to the greenback. As of this moment, EURUSD is trading at the level of 1.19069, with a slight loss of 0.04%.

Earlier today, the currency pair witnessed a gap opening and surged higher to 1.1929 level owing to the upbeat sentiments amongst investors following the final approval of the US fiscal stimulus worth $1.9 trillion in the Senate house.

Talking about the previous trading session, EURUSD encountered a massive sell-off to a multi-months low of 1.1892 level amidst broad-based strength in the greenback. On the economic docket, the French Trade balance was reported at -3.9B, against the forecast of -3.4B while the Italian retail sales came at -3%, worse than the expectations of -0.6%. On the other hand, the optimistic US macro-economic data with the Unemployment Rate coming at 6.2%, defying the market expectations of 6.3% rendered support to the US dollar. However, the currency pair erased slight losses after witnessing support near a major 1.19 handle

Consequently, EURUSD settled the day at 1.19124, with a depreciation of 0.40%.

Up ahead, investors can take clues from German Industrial Production m/m, European Sentix Investor Confidence data and the US Final Wholesale Inventories m/m statistics for further trading impetus.

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EURUSD TICKS HIGHER AMIDST PULLBACK IN THE U.S. TREASURY YIELDS



After sliding for the four consecutive trading sessions, EURUSD ticks higher in the Asian trading hours on Tuesday following the decline in long-term US Treasury Yields from all-time high levels. Besides, the investors remain vigilant over the development in the U.S. coronavirus relief package as it has moved to the House of Representatives to become a law. As of now, the currency pair is trading 0.10 % higher at the 1.1857 level.

Talking about the previous trading session, initially, the currency pair surged to an intraday high of 1.1932 level owing to the upbeat sentiments amongst investors following the final approval of the US fiscal stimulus worth $1.9 trillion in the Senate house.

However, the pair erased its intraday gains following the release of downbeat German Industrial Production data that arrived at -2.5%, much less than the market anticipation of -1.4%, exerted downside pressure on the pair. Consequently, the currency pair ended the trading session at 1.1845 level, with a depreciation of 0.52%.

Going forward, investors will wait for French Final Private Payrolls, German Trade Balance, Italian Industrial Production, Final Employment Change, Revised GDP, U.S. NFIB Small Business Index for further impetus.

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EURUSD TRADES LOWER AMIDST STRENGTH IN THE GREENBACK


EURUSD flashes red in the Asian trading hours on Wednesday due to the broad-based strength in the greenback. Additionally, the rise in the long-term US Treasury yields weighed on the demand of the pair. Besides, the investors remain watchful over the results of the final vote on the U.S. coronavirus relief package worth $1.9 trillion. As of now, the currency pair is trading 0.15% lower at the 1.1879 level.

Talking about the previous trading session, the currency pair snapped its four-day losing streak following the risk on sentiments. This was after the US Treasury Secretary Janet Yellen promised to unveil the aid of $350 billion to state governments as soon as possible. Additionally, the release of upbeat German Trade Balance, Italian Industrial Production, and French Final Private Payrolls statistics provided support to the currency pair. Subsequently, the currency pair ended the trading session at 1.1898 level, with an appreciation of 0.45%.

Going forward, investors will wait for French Industrial Production and U.S. Core CPI statistics for further impetus.

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EURUSD TRADES FLAT AHEAD OF ECB RATE DECISION


EURUSD trades flat with a slight negative bias in the Asian trading hours on Thursday as investors remain cautious for placing aggressive bids ahead of ECB Rate decision to be announced today. As of this moment, the currency pair is trading at the level of 1.19238, marginally lower by 0.01%.

Coming to the previous trading session, EURUSD witnessed buying on the back of broad-based weakness in the greenback. The final approval given by the US House of Representatives to the Covid-19 relief bill worth $1.9 trillion created pressure over the safe-haven. In addition to this, the French Industrial Production m/m data came better than the expectations which further rendered support to the pair. Consequently, EURUSD settled higher by 0.23% at the level of 1.19258.

Looking ahead, investors would take clues from the European Monetary Policy Statement, US Unemployment Claims and JOLTS Job Openings data to decide the future trajectory of the currency pair.

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EURUSD TRADES LOWER AMIDST BROAD BASED STRENGTH IN THE U.S. DOLLAR


After rallying for three consecutive trading sessions, EURUSD ticks lower in the Asian trading hours on Friday due to the broad-based strength in the greenback. The coronavirus restrictions and slow delivery of coronavirus vaccines in the Eurozone are also undermining the investors' risk sentiment. As of now, the currency pair is trading at a 1.1965 level, with a depreciation of 0.13%.

Talking about the previous trading session, the pair witnessed some pullback as a knee jerk reaction to the dovish ECB Monetary policy Statement. The Central Bank stated to keep its interest rates at an all-time low until the inflation target of 2% is achieved. The apex institute also promised to increase the pace of bond buying to support the European economy reeling from the coronavirus pandemic.

However, the pair witnessed intensive buying pressure owing to the risk on mood amidst the optimism surrounding the coronavirus relief package. This was after the U.S. President Joe Biden signed the massive stimulus bill worth $1.9 trillion into law. Consequently, the currency pair ended the trading session at 1.1981 level, with an appreciation of 0.48%.
Going forward, investors will wait for German Final CPI, Italian Quarterly Unemployment Rate, Industrial Production, U.S. Core PPI m/m, Prelim UoM Consumer Sentiment, and Inflation Expectations data for intraday trading opportunities.

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EURUSD BEARS ON THE FRONT SEAT AMIDST DOLLAR STRENGTH


EURUSD extends losses for the second consecutive trading session following the broad-based strength in the greenback. Additionally, the surge in the long-term US Treasury Yields to the multi-month high of 1.646 level, undermines the demand for the pair. As of now, the common currency is trading 0.41% lower at the 1.1930 level.

Talking about the previous trading session, EURUSD came under intensive selling pressure and plunged to an intraday low of 1.191 level. The investors' risk sentiment declined due to the coronavirus restrictions and slow delivery of vaccine in the Eurozone. In addition to this, the release of upbeat US PPI m/m and Prelim UoM Consumer Sentiment statistics supported the bids for the greenback.

However, the currency pair managed to erase some of its losses due to the optimism surrounding the Joe Biden’s massive $1.9 trillion stimulus bill. Consequently, the currency pair ended the trading session at 1.1949 level, with a depreciation of 0.28%.

Going forward, investors will wait for U/S. Empire State Manufacturing Index for further impetus.

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EURUSD: BULLS BACK ON THE FRONT SEAT AHEAD OF U.S. RETAIL SALES STATISTICS


EURUSD ticks higher in the Asian trading hours following the pullback in the long-term US Treasury Yields. Besides, investors refrain from placing aggressive bets in the greenback ahead of crucial U.S. Retail Sales statistics scheduled to be released later in the day. As of now, the common currency is trading 0.09% higher at the 1.1938 level.

Talking about the previous trading session, initially, the currency pair tested an intraday high of 1.1967 level due to the optimism surrounding Joe Biden’s massive $1.9 trillion stimulus bill. However, the pair erased its intraday gains amidst broad-based strength in the greenback. Additionally, the release of the upbeat US Empire State Manufacturing Index that came at 17.4, better than the market forecast of 14.6, attracted bids for the dollar. Consequently, the pair ended the trading session at 1.1927 level, with a depreciation of 0.19%.

Going forward, investors will wait for French Final CPI, ZEW Economic Sentiment, German ZEW Economic Sentiment, U.S. Core Retail Sales m/m, Import Prices m/m, Industrial Production m/m, and NAHB Housing Market Index for intraday trading opportunities.

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EURUSD TRADES FLAT AT 1.19 LEVEL AHEAD OF FED’S DECISION


EURUSD is trading flat with a slight positive bias as investors seems reluctant to place aggressive bets in the greenback ahead of the conclusion of Federal Reserve’s two-day meeting. Besides, investors remain vigilant over the Fed’s response for tackling the recent rise in the long the bond yields. As of now, the currency pair is trading at 1.1902 level, marginally higher by 0.02%.

Talking about the previous trading session, the common currency came under selling pressure due to the gains in the long-term US Treasury Yields. Additionally, investors remain concerned over the escalation in the EU- UK trade deal tensions. This was after European Union attempted legal actions against UK for breaching the trade agreements concerning Northern Ireland.

However the currency pair managed to erase some of its losses due to the release of downbeat U.S. Core Retail Sales, Capacity Utilization Rate, and Industrial Production statistics which undermined the demand for the greenback in later hours. Consequently, the currency pair ended the trading session at 1.1899 level, with a depreciation of 0.23%.

Going forward investors will keep an eye on Dutch Parliamentary Election, EU Final CPI, US Building Permits and Housing Starts data, FOMC Economic Projections, FOMC Statement, Federal Funds Rate, FOMC Press Conference for further trading impetus.

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EURUSD REMAINS STEADY NEAR 1.19 HANDLE AMIDST CAUTIOUS MARKET MOOD


After witnessing sharp sell off in the previous trading session, EURUSD takes a breather near 1.19 handle in the Asian trading hours on Friday. Investors’ sentiments remain fragile over the slowdown in vaccine coupled with lockdown restrictions in several European nations. Besides, a pullback in US 10Y from its multi- month high level sidelines the demand for the greenback. As of now, the common currency is trading at 1.1916 level, marginally up by 0.05%.

On Thursday, the currency pair slumped to an intraday low of 1.1906 level due to the reports that Europe halted the mass vaccination drive in many countries including Italy, Germany, and France. Additionally, the demand for the pair was undermined due to the surge in the long-term U.S. Treasury yields. Additionally, the broad-based strength in the greenback weighed on the pair. Furthermore, the release of better than anticipated U.S. Philly Fed Manufacturing Index statistics that arrived at 51.8, vs 22.5 forecasted, provided bids to the dollar. Consequently, the currency pair ended the trading session at 1.1910 level, with a depreciation of 0.53%.

Going forward, investors will wait for EU German PPI m/m for further trading impetus.

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EURUSD TRADES TAD LOWER AMID GLOBAL ECONOMIC RECOVERY CONCERNS


EURUSD registered a gap down opening at 1.1878 level in the Asian trading hours on Monday as investors remain concerned over the global economic recovery prospect after German Chancellor Angela Merkel asked to extend lockdown restriction for four more weeks. As of this moment, the currency pair managed to recover some lost ground but still trades lower by 0.04% at 1.1895 level.

Coming to the previous session, the currency pair fell to an intra-day low of 1.1873 level as investors sentiment remained fragile over the slowdown in vaccine coupled with lockdown restrictions in several European nations. Besides, the German PPI data came at 0.7% versus the anticipated 0.8%, thus further weighing on the demand for the single currency. Subsequently, the currency pair settled the day at 1.1897 level, down by 0.11%.

Moving ahead, investors should follow the German Buba Monthly Report, US Existing Home Sales data, and speech of FED Chair Powell scheduled for today.

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