EURUSD

[Terry_8]

EURUSD DWINDLES BELOW 1.21 HANDLE AMID DELAY IN CORONAVIRUS VACCINE



EURUSD tumbles for the second straight session on Thursday in response to the coronavirus woes that took its toll on the Eurozone economy. The pain of vaccine supply shortages amid a surge in cases is being felt across Europe as Spain became the first E.U. nation to halt the vaccination drive on Wednesday. Madrid has suspended its vaccination program for two weeks and Catalonia might follow the same suit due to dwindling vaccine supplies.
As of now, the currency pair is trading at 1.2089 level, representing a loss of 0.15%.
Coming to the previous session, EURUSD plummeted to the day’s low of 1.2058 level as the greenback strengthened across the board. The single currency came under pressure following comments from the Dutch Governor Klass Knot suggesting the readiness for a negative interest rate if necessary. In addition to this, FED chairman Powell expressed a high degree of uncertainty regarding the pace of the economic recovery, which led to risk-off mood in the market. Subsequently, the currency pair settled the day in a red territory at 1.2107 level, down by 0.43%.
Moving ahead, investors should closely follow the German Prelim CPI data and Spanish Unemployment report for short-term trading impetus. Later in the day, the focus will shift towards the US Advance GDP, Unemployment Claims data, and CB Leading Index report.

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[Terry_8]

EURUSD TICKS LOWER AMIDST LINGERING CORONAVIRUS CONCERNS



EURUSD dwindles in early Asian hours on Friday as greenback gains ground amid lingering coronavirus concerns. Several European Union nations resorted to new entry and travel regulations to combat the virulent strain of coronavirus, which dampens the investor sentiments. Apart from travel restrictions, the halt in the mass vaccination drive due to lack of doses is adding to the already bleak tone surrounding the single currency.
As of now, the currency pair is trading at 1.2097 level, down by 0.19%.
Coming to the previous session, EURUSD initially slipped to the day’s low of 1.2080 level in response to the vaccine supply shortages, which led Spain to halt its vaccination drive. However, later in the session, the currency pair reversed losses and edged higher following the release of upbeat Eurozone data. The German Prelim CPI data came at 0.8% versus the anticipated 0.4% and, the Spanish Unemployment report stood at 16.1% against the expected 16.7%. On the other hand, the US Published mixed reports, wherein the Advance GBP report showed dismal results whereas the Unemployment Claims came better than estimates. Subsequently, the currency pair settled the day at 1.2120 level, up by 0.10%.
Moving ahead, investors should closely follow the German and Spanish Prelim GDP data for short-term trading impetus. Later in the day, the focus will shift towards the US Personal Spending data, Chicago PMI report, and Pending Home Sales data.

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[Petrick Liman]

EURUSD TICKS LOWER AMIDST LINGERING CORONAVIRUS CONCERNS

View attachment 17712

EURUSD dwindles in early Asian hours on Friday as greenback gains ground amid lingering coronavirus concerns. Several European Union nations resorted to new entry and travel regulations to combat the virulent strain of coronavirus, which dampens the investor sentiments. Apart from travel restrictions, the halt in the mass vaccination drive due to lack of doses is adding to the already bleak tone surrounding the single currency.
As of now, the currency pair is trading at 1.2097 level, down by 0.19%.
Coming to the previous session, EURUSD initially slipped to the day’s low of 1.2080 level in response to the vaccine supply shortages, which led Spain to halt its vaccination drive. However, later in the session, the currency pair reversed losses and edged higher following the release of upbeat Eurozone data. The German Prelim CPI data came at 0.8% versus the anticipated 0.4% and, the Spanish Unemployment report stood at 16.1% against the expected 16.7%. On the other hand, the US Published mixed reports, wherein the Advance GBP report showed dismal results whereas the Unemployment Claims came better than estimates. Subsequently, the currency pair settled the day at 1.2120 level, up by 0.10%.
Moving ahead, investors should closely follow the German and Spanish Prelim GDP data for short-term trading impetus. Later in the day, the focus will shift towards the US Personal Spending data, Chicago PMI report, and Pending Home Sales data.

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I think the price will test 1.20 a couple of times...

 

[Terry_8]

EURUSD TRADES HIGHER AFTER ASTRAZENECA AGREES TO SUPPLY ADDITIONAL 9 MILLION DOSES TO EUROPEAN UNION



EURUSD kicks off the week on a positive note in the early Asian trading hours after Astrazeneca has agreed to supply extra 9 million doses to European Union. This news comes after the vaccination drive the Europe suffered from the shortfall of vaccine doses.

As of now, EURUSD is trading at 1.2121 level, mildly up by 0.04%

Talking about the previous session, the single currency initially languished to its intraday low of 1.2094 level amid broad-based strength in the U.S dollar. Furthermore, several European Union nations resorted to new entry and travel regulations to combat the virulent strain of coronavirus, which dampened investors’ sentiments. However, the pair managed to recover from its intraday losses and touched the intraday high of 1.2155 level after better-than-expected German Unemployment Change data and Prelim GDP figure.

In the American trading hours, the pair lost some bids but managed to stay in the green area even after a series of positive U.S data. The U.S Employment Cost Index, Personal Spending, Chicago PMI, and Pending Home Sales data came above market expectations. Finally, the closing price of the pair stood at 1.21344 level, registering a gain of 0.10%.

On the data front, today, investors will keep a close eye on the European and German Final Manufacturing PMI data along with European Unemployment Rate. In the American session, the focus will shift to U.S ISM Manufacturing PMI data

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[Terry_8]

EURUSD NUDGES UPWARDS AMID RISK ON MARKET SENTIMENTS



EURUSD ekes out modest gains in the Asian session on Tuesday owing to risk-on sentiments prevailing in the equity market. The optimism regarding the vaccination rollout is underpinning the prospects of speedy economic recovery. In this regard, German Chancellor Angela Merkel said on Monday that government plans to provide COVID-19 vaccination by the end of summer to all German citizens.

As of now, the currency pair is trading at 1.2081 level, up by 0.18%.

Coming to the previous session, EURUSD slumped to the day’s low of 1.2056 level courtesy of the broad-based strength in the US dollar and downbeat German retail sales data. The greenback attracted safe-haven bids on speculation that the proposed 1.9 trillion dollars COVID-19 fiscal package by Joe Biden’s could be scaled down. Besides, the German retail sales data stood at -9.6% versus the anticipated -2.0%, which added to the already bleak sentiments surrounding the shared currency. Consequently, the currency pair settled the day at 1.2059 level, down by 0.06%.

Moving ahead, investors can take cues from the French Prelim CPI data, Spanish Unemployment Claims data, and Eurozone Prelim GDP report for some short term trading impetus.

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[Terry_8]

EURUSD TRADES FLAT, EYES ON US ISM SERVICES DATA

EURUSD trades flat to positive at 1.2044 level in the Asian trading hours on Wednesday as investors remain hopeful regarding the prospect of additional US stimulus. However, the gains remain largely capped as coronavirus cases continue to accelerate at a faster pace. Approximately 104 million people worldwide have been infected with coronavirus, causing over 2.2 million fatalities.

Meanwhile, investors cautiously await the US ISM services data slated for today that can provide fresh cues regarding the direction of the pair.

Coming to the previous session, the currency pair initially touched the intraday high of 1.2087 level in response to the vaccine optimism after German Chancellor Angela Merkel said that government plans to provide COVID-19 vaccination by the end of summer to all German citizens. However, later in the session, the currency pair erased all of its gains following broad-based strength in the greenback. Besides, Eurozone released mixed reports wherein the EU Prelims Flash GDP came better than expecated and the Spanish Unemployment stood at 76.2k worse than the anticipated 35.5k. Subsequently, EURUSD settled the day at 1.2043 level, down by 0.13%.

Today’s economic docket includes Spanish and German Final Services PMI data. After the Eurozone data, the focus will shift towards the US ISM Services PMI data for short term trading impetus.

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[Terry_8]

EURUSD FALTERS AMIDST SUBDUED MARKET MOOD AND USD STRENGTH


EURUSD ticks lower in the Asian trading hours on Thursday in response to the risk-off sentiments prevailing in the market. Besides, the greenback gathers safe-haven bids amid lingering coronavirus woes that dented the already bleak sentiments surrounding the single currency. As a result, the pair struggles to achieve upside traction and is currently seen trading at 1.2018 level, representing a loss of 0.14%.

Coming to the previous session, the currency pair succumbed to the selling pressure and touched the intra-day low of 1.2004 level owing to the concerns over a worrisome surge in the coronavirus cases. Besides, the US released upbeat data that weighed on the demand for the single currency. The ADP Non-Farm Employment Change data stood at 174k, versus the anticipated 48k and the ISM Services PMI report came at 58.7, surpassing the market expectation of 56.7. However, later in the session, the currency pair rebounded from the day's low following the news that ECB President Mario Draghi might form a new Italian government. Consequently, EURUSD settled the day at 1.2034 level, slightly down by 0.07%.

Today’s economic docket includes Eurozone Retail Sales data, US Unemployment Claims data, and Prelim Nonfarm Productivity report for short term trading impetus.

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[Terry_8]

EURUSD TRADES FRAIL BELOW 1.20 HANDLE, EYES ON US UNEMPLOYMENT RATE DATA
EURUSD trades frail for the fifth straight day on Friday as investors refrain from placing heavy bets ahead of the US unemployment rate data that could lead to volatility in the major. Besides, Eurozone is starting to feel the heat of coronavirus vaccines’ achingly slow progress that forces EU nations to maintain tighter lockdown measures and strict social distancing norms. As a result, the currency pair remains subdued below the 1.20 handle and is currently seen trading at the 1.1955 level, representing a marginal loss of 0.05%.

Coming to the previous session, the EURUSD slumped to the day’s low of 1.1957 level as the greenback gathered safe-haven bids amid lingering coronavirus woes. Germany detected a new variant of coronavirus that was previously identified in Luxembourg and Norway. Besides, the US released upbeat data that weighed on the demand for the single currency. The US Unemployment Claims data stood at 779k, versus the anticipated 828k and the Prelim Nonfarm Productivity came at -4.8%, surpassing the market expectation of -2.9%. Consequently, EURUSD settled the day at 1.1961 level, down by 0.61%.

Moving ahead, investors can take cues from the German Factory Order data and French Trade Balance report. Later in the day, the focus will shift towards the US Average Hourly Earnings data, Non-Farm Employment Change report, and Unemployment Rate data

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[Terry_8]

EURUSD TAKES A BREATHER NEAR 1.20 HANDLE AFTER PREVIOUS SESSION’S RALLY
After witnessing a rally in the previous session, the currency pair registers a gap down opening in the Asian trading hours on Monday. However, the losses in the EURUSD remain under check amid buoyant market mood owing to the hopes of additional US stimulus expectations and the continued rollout of the coronavirus vaccine. On Sunday, US Treasury Secretary Janet Yellen stated that the anticipated $1.9 trillion package should consider stimulus checks for workers who make $60,000 per year.

As of this moment, the currency pair trades at 1.2038 level, representing a mild loss of 0.08%.

Coming to the previous session, EURUSD touched the peak of 1.2050 level following the release of dismal US employment data. The US Average Hourly Earnings came at 0.2%, versus the anticipated 0.3% and, the Non-Farm Employment Change stood at 49k, worse than the expected 85k. In view of the tepid US job market, President Joe Biden emphasized a need for aggressive stimulus-response, which further boosted the single currency. Subsequently, the currency pair settled the day at 1.2049 level, up by 0.73%.

Moving ahead, investors should closely follow the German Industrial Production data and Eurozone Sentix Investor Confidence report slated for today.

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[Terry_8]

EURUSD NUDGES HIGHER AMID EXPECTATIONS OF ROBUST US STIMULUS


EURUSD Surges in the Asian trading hours on Tuesday as investors remain cheerful regarding the possibility of additional US stimulus aimed to support the economy battered by the pandemic. In this regard, Congressional Democrats and President Joe Biden appear to inch closer towards the proposed $1.9 trillion coronavirus aid package. Besides, the continued rollout of the coronavirus vaccine is helping EURUSD gain bids.

As of now, the currency pair is trading at 1.2079 level, up by 0.28%.

Coming to the previous session, the single currency touched the intraday high of 1.2066 level amid signs of Risk-on sentiments that exerted downward pressure on the perceived safe-haven greenback. The market mood improved amid the expectation of further US stimulus and vaccine optimism. However, later in the session, EURUSD erased its gains owing to the frail Eurozone data. The German Industrial Production data stood at 0.0% against the forecast of 0.1% and the Sentix Investor Confidence report came at -0.2, worse than the anticipated 4.1. Subsequently, the currency pair settled the day at 1.2044 level, mildly down by 0.03%.

Moving ahead, investors can take cues from the Italian Industrial Production report, US NFIB Small Business Index data and the JOLTS Job Openings report.

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[Terry_8]

EURUSD TRADES ABOVE 1.21 HANDLE AMID BROAD BASED WEAKNESS IN U.S DOLLAR

EURUSD extends its winning streak for the fourth consecutive session in the Asian trading hours on Wednesday amid broad-based weakness in the U.S dollar. Investors remain optimistic that U.S Policymakers would soon approve a stimulus package worth $1.9 trillion helping the single currency to trade higher. As of now, EURUSD is trading near a six-day high of 1.2123 level, with a mild gain of 0.03%.

Talking about the previous trading session, the shared currency witnessed strong buying pressure and surged to an intraday high of 1.2121 level amid risk-on mood in the markets. This was followed by an optimistic German Trade balance data that increased to 16.1 billion against the market forecasts of 14.2 billion. Besides this, dismal macroeconomic data from the United States undermined the demand for the greenback. The Americans published NFIB Small Business Index data that decreased to 95 versus the market expectation of 96.6. Consequently, EURUSD concluded the session at 1.2119 level with an appreciation of 0.60%.

Going forward, investors can take a clue from a slew of economic statistics such as German Final CPI, French Industrial Production, U.S Core CPI, U.S Final Wholesale Inventories along with Federal Reserve Chairman Jerome Powell’s speech.

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[Terry_8]

EURUSD RESILIENT ABOVE 1.21 HANDLE AHEAD OF EU ECONOMIC FORECASTS
EURUSD is trading flat to positive in the Asian trading hours on Thursday as investors look forward to the EU Economic forecasts reports that could potentially bring some volatility in Euro’s prices. Apart from that, the risk-on sentiments prevailing in the Asian equities amid hopes of robust US fiscal stimulus and rollout of vaccine is adding to the bid tone surrounding the single currency.

As of this moment, the currency pair is trading at 1.2126 level, up by 0.07%.

Coming to the previous session, EURUSD initially surged to the day’s high of 1.2143 level as investors remained optimistic that U.S Policymakers would soon approve a stimulus package worth $1.9 trillion. Besides, the release of dismal US inflation figures exerted pressure on the greenback as the data stood at 0.0%, worse than the forecast of 0.2%. However, the pair quickly ran out of steam as investors resorted to profit booking after the currency pair’s 3-days bullish run. Subsequently, EURUSD settled the day mildly lower at 1.2115 level, down by 0.03%.

Today’s economic docket highlights the EU Economic Forecasts and US Unemployment Claims data that could significantly impact the pair’s performance.

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[Terry_8]

EURUSD TAD LOWER AMID THIN HOLIDAY TRADING
The single currency ticks lower versus its US counterpart amid thin holiday trading as markets across Asia remain closed for the Lunar New Year Holiday. Besides, the investors struggle to find any fresh catalysts as there are no major economic releases from the Eurozone which could provide for trading impetus.

On the coronavirus front, the sentiments remain subdued as Germany plans to extend lockdowns to curb the spread of a new variant of coronavirus. Apart from that, the government urged populations to cope with the closure until inoculation programs continue.

As of now, the currency pair is trading at 1.2123 level, mildly down by 0.03%.

On Thursday, EURUSD peaked at 1.2149 level as investors' risk appetite rose on hopes of a robust US fiscal stimulus package worth $1.9 trillion. Also, the dovish remarks by the Fed chair Jerome Powell regarding the inflation and labor market weighed on the greenback. On the data front, the German WPI figures surged unexpectedly and came at 2.1% against the expectation of 0.4%. On the contrary, the US Unemployment Claims data stood at 793k, worse than the forecast of 755k, which further rendered support to the currency pair. However, later in the session, EURUSD pared some of its gains as investors resorted to profit booking. Subsequently, the currency pair settled the day at 1.2126 level, up by 0.09%.

Today’s economic docket highlights the US Prelim UoM Consumer Sentiments report and Prelim UoM Inflation Expectation data.

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[Terry_8]

EURUSD INCHES HIGHER AS ECONOMIC RECOVERY HOPES RENDER SUPPORT
The Single currency stepped up versus its US counterpart on the first trading day of the week as optimism regarding the coronavirus vaccine rollout underpins hopes for a robust economic recovery. In this regard, the EU will fast-track the approval of COVID-19 vaccines that are altered to cater to the new mutation, thus enforcing faster availability of vaccines. Besides, investors are hopeful for an additional $1.9 trillion US stimulus that is adding to the bids surrounding EURUSD.

As of now, the currency pair is trading at 1.2135 level, up by 0.13%.

Coming to the previous session, EURUSD initially succumbed to selling pressure and touched the day’s low of 1.2081 level following news that Germany plans to extend lockdowns to curb the spread of the new variant of coronavirus. However, later in the session, the currency pair managed to recover most of its losses after the release of dismal US data that added pressure on the greenback. The Prelim UoM Consumer Sentiment report stood at 76.2, missing the market expectation of 80.8. Subsequently, EURUSD settled the day little changed at 1.211 level, mildly down by 0.08%.

Moving ahead, investors can take cues from the Eurozone Industrial Production report, Trade Balance data, and Euro group Meetings slated for today.

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[Terry_8]

EURUSD EKES OUT MODEST GAINS AMID GLOBAL RECOVERY HOPES
EURUSD rises modestly in the Asian trading hours as the expectation of a robust $1.9 trillion stimulus package and the implementation of a massive immunization program pinned global recovery hopes. In this regard, World Health Organization has permitted the use of AstraZeneca’s coronavirus vaccine for emergency use. Besides, the weakness in the greenback is adding to the bid tone surrounding the single currency.

As of now, the currency pair is trading at 1.2140 level, up by 0.09%.

Coming to the previous session, EURUSD witnessed lackluster trading in response to the holiday in the US and China. The market in the US were closed on account of Washington’s birthday. On the other hand, Shanghai was closed due to the Lunar New Year holiday. Despite that, risk-on sentiments prevailing in the market on hopes of massive US stimulus gave EURUSD a mild boost. Consequently, the currency pair settled the day on a positive note at 1.2127 level, mildly up by 0.07%.

Moving ahead, investors can take cues from the Eurozone Flash Employment Change data, Flash GDP, ZEW Economic Sentiments report, and US Empire State Manufacturing Index slated for today.

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[Terry_8]

EURUSD DWINDLES BELOW 1.21 HANDLE AS DOLLAR GAINS AMID SURGE IN THE US YIELDS
EURUSD is trading frail in the Asian trading hours on Wednesday as the greenback gathers momentum in response to the surge in US treasury yields. In the overnight trade, the 10-year US treasury yields touched its highest level in a year. Besides, the risk-off sentiments prevailing in the equity market is weighing on the demand of the riskier assets, including the single currency.

As of now, the currency pair is trading at 1.2089 level, down by 0.14%.

Coming to the previous session, EURUSD initially surged to an intra-day high of 1.2169 level as the expectation of a robust $1.9 trillion stimulus package and the implementation of a massive immunization program pinned global recovery hopes. Also, the Eurozone ZEW Economic Sentiments data came at 69.6, much better than the forecast of 59.2, which further gave a boost to the pair. However, the currency pair quickly lost steam and came under selling pressure amid rising US treasury yields, which weighed on the riskier assets. Consequently, EURUSD settled the day at 1.2103 level, down by 0.18%.

Moving ahead, market participants look forward to the release of US Retail Sales data, Core PPI data, NAHB Housing Market Index data, and speech of FOMC member Barkin for some short-term trading impetus.

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[Terry_8]

EURUSD TRADES FLAT AHEAD OF US PHILLY FED MANUFACTURING DATA

EURUSD is trading flat to positive at 1.2038 level, mildly up by 0.03% as investors look forward to the release of the US Philly Fed Manufacturing report. Besides, the gains remain capped as optimism regarding the prospective $1.9 trillion stimulus aid in US is overshadowed by the ongoing pandemic concerns.

Coming to the previous session, EURUSD succumbed to selling pressure and tested the intraday low of 1.2023 level as the greenback gathered momentum in response to the surge in US treasury yields that touched its highest level in a year. Also, the risk-off sentiments prevailing in the market weighed on the demand for the single currency.

The selling pressure further accelerated after the release of cheerful US Core Retail Sales data that came at 5.9%, better than the market expectation of 1.1% and the PPI report stood at 1.3% versus the forecast of 0.4%. Subsequently, the currency pair settled the day at 1.2034, down by 0.59%.

Moving ahead, market participants look forward to the release of ECB Monetary Policy Meeting Accounts for some short-term trading impetus. Later in the day, the focus will shift towards the US Philly Fed Manufacturing report, Building Permits data and Housing Starts data.

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[Terry_8]

EURUSD TAD LOWER, INVESTORS EYE GERMAN FLASH MANUFACTURING PMI DATA
The single currency ticks mildly lower versus its US counterpart in the Asian trading hours on Friday as market participants await the crucial German Manufacturing and Services PMI data. Besides, the risk-off mood prevailing in the market on fears of new coronavirus variant in several parts of the Europe weighed on the riskier assets, including EURUSD.

As of now, the currency pair is trading at 1.2084 level, down by 0.04%.

Coming to the previous session, EURUSD peaked to 1.2094 level in response to the unexpected surge in the US Unemployment figures that weighed on the US dollar. The US Labor Department showcased that Unemployment Claims came at 861k, worse than the market expectation of 775k, and the Housing Starts data stood at 1.58M versus the forecast of 1.66M. Subsequently, the currency pair settled the day close to the day’s high at 1.2089 level, representing gains of 0.46%.

Today’s economic docket highlights the German and Eurozone Manufacturing PMI data for some short-term trading impetus. Later in the day, the focus will shift towards the US Existing Home Sales data, Flash manufacturing, and Services PMI report.

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[Terry_8]

EURUSD TICKS MILDLY HIGHER AMID RISK-ON MARKET MOOD
EURUSD ekes out mild gains on Monday in response to the risk-on sentiments prevailing in the market owing to the expectations of a swift economic recovery. In this regard, investors remain hopeful regrading the prospect of an additional $1.9 trillion US stimulus package, which bodes well with the single currency.

As of now, the currency pair is trading at 1.2121 level, representing gains of 0.06%.

Coming to the previous session, EURUSD initially touched the intraday high of 1.2144 level due to the broad-based weakness in the greenback. Besides, the German and Eurozone Flash Manufacturing PMI data came much better than the market expectations at 60.6 and 57.7, respectively.

However, later in the session, EURUSD pared some of its gains following the release of upbeat US data, which rendered support to the greenback. The US Flash Services PMI stood at 58.9 versus the forecast of 57.9 and the Existing Home Sales data came at 6.69M against the market expectation of 6.59M. Subsequently, EURUSD settled the day at 1.2114 level, up by 0.21%.

On the economic docket, investors must keep a close eye on the German IFO Business Climate data, German Buba Monthy report, and Belgian NBB Business Climate data for short-term trading impetus.

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[Terry_8]

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, EURUD 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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