EURUSD

[Terry_8]

EURUSD RALLIES SIGNIFICANTLY TO ITS HIGHEST LEVEL SINCE APRIL 2018



The risk-fueled rally prompted EURUSD to touch its highest level since April 2018 on Wednesday as the initiation of mass vaccination drive across several nations and the passage of the U.S. relief aid boosted hopes for a faster economic recovery. As of now, the currency pair is trading at 1.2288 level, up by 0.34%.
The market mood remains upbeat as Treasury Secretary Stephen Mnuchin announced that $600 checks are all set to be delivered. However, it should be noted that Trump’s effort of putting the bigger $2000 coronavirus relief checks has been halted for the time being by the Republican-led Senate.
Coming to the previous session, EURUSD surged to an intra-day high of 1.2275 level amidst risk-on sentiments prevailing in the financial markets, which boded well with the single currency. The optimism in the market was spurred by news that U.S. House of Representatives backed Trump’s proposal of increasing the stimulus checks from $600 to $2000. However, later in the session, the currency pair trimmed some of its gains as investors preferred profit booking at higher levels. Subsequently, EURUSD settled the day at 1.2246 level, up by 0.27%.
Moving ahead, investors can take cues from the US Goods Trade Balance data, Prelim Wholesales Inventories data, and Pending Home Sales reports slated for today

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[Terry_8]

EURUSD TRADES CAUTIOUSLY AMID THIN LIQUIDITY TRADING



After surging to the new multi-year high of 1.2310 level in previous trading session, EURUSD ticks marginally lower in the Asian trading hours on Thursday. Investors resorted to profit booking amid thin holiday trading as some regional markets are closed on the eve of New Year’s, while others have shortened the trading sessions. Besides, the news that the United States intends on imposing additional tariffs on the aircraft manufacturing parts and specific wines from Germany and France as a retaliatory move weighed on the demand for EURUSD.
As of now, the currency pair is trading at 1.2295 level, representing a slight loss of 0.02%.
On Wednesday, EURUSD surged to the levels last witnessed in April 2018 as the initiation of mass vaccination drive across several nations and the passage of the U.S. relief aid boosted hopes for a faster economic recovery. In addition to this, the gloomy data released by the US exerted some downward pressure on the greenback. The US Good Trade Balance stood at -84.8B versus the anticipated -81.5B and the Pending Home Sales data came at -2.6% against the forecast of 0.1%. Subsequently, the currency pair settled the day at 1.2298, up by 0.43%.
Moving ahead, EU economic calendar remains muted for the day. Therefore, market participants can take cues from the US Unemployment Claims data for short-term trading impetus

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[Terry_8]

EURUSD AFLOAT ABOVE 1.22 HANDLE ON ECONOMIC RECOVERY HOPES AND WEAKER DOLLAR



EURUSD caught fresh bids in the Asian trading hour on Monday owing to the market's euphoric mood as the initiation of mass vaccination drive across several nations underpins the prospect of a quick economic recovery. Besides, the broad-based weakness in the greenback is adding to the bid tone surrounding the shared currency.
Nevertheless, the global coronavirus cases have surpassed the worrisome 85 million mark with over 1.8 million deaths. Britain and Scotland have also resorted to tighter lockdown restrictions due to the new variant of coronavirus.
As of now, the currency pair is trading at 1.2246 level, representing a gain of 0.25%.
Coming to the previous session, the single currency succumbed to the selling pressure and finally concluded the session on a weaker note at 1.2215 level, down by 0.64%. The news that the United Nations intends on imposing additional tariffs on the aircraft manufacturing parts and specific wines from Germany and France weighed on the demand for EURUSD. In addition to this, the upbeat data released by the US gave a boost to the greenback. The US Unemployment Claims data stood at 787k versus the anticipated 832k.
Moving ahead, market participants can take cues from the French and German Manufacturing PMI data for short-term trading impetus. Later in the day, focus will shift towards the US Final Manufacturing PMI and Constructing Spending report.

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[Terry_8]

EURUSD EKES OUT MODEST GAINS AS DOLLAR WILTS


The single currency ekes out modest gains versus its US counterpart on Tuesday, although the 1.23 handle is turning out to be a crucial resistance for the currency pair. As of now, EURUSD is trading at 1.2272 level, up by 0.21%
The broad-based weakness in the greenback amid the implementation of mass immunization and hopes of faster economic recovery is boding well for the single currency. However, the gains remain capped due to the uncertainty over the Georgia senate runoff elections as the outcome could impact the US fiscal stimulus outlook.
Coming to the previous session, EURUSD initially peaked at 1.2301 level amid vaccine rollouts that underpinned economic recovery prospects. In addition to this, the French and German Manufacturing PMI data came in line with expectations at 51.1 and 58.3 respectively, which further boosted the demand for the single currency. Later in the session, the dollar managed to rebound from its multi-months low level as investors turned cautious over the mounting coronavirus cases that showed no signs of a slowdown. Subsequently, the currency pair trimmed some of its gains to finally conclude the session at 1.2250 level, up by 0.23%.
Moving ahead, investors can take cues from the German Unemployment Change data and the US ISM Manufacturing PMI report slated for today.

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[Petrick Liman]

What is the ultimate goal for EURUSD for 2021?

 

[Terry_8]

EURUSD TRADES A TAD LOWER AHEAD OF US SENATE RUNOFF RESULTS



EURUSD sits below its crucial 1.23 handle in the Asian trading hours on Wednesday as investors cautiously await the outcome of Senate runoffs in Georgia. The election will help ascertain the extent to which the upcoming president Joe Biden can push the democrats' agenda and influence the taxation policies along with the stimulus outlook. On the coronavirus front, approximately 86 million people have been infected with the virus, causing over 1.8 million fatalities worldwide.
As of now, the currency pair is trading at 1.2292 level, mildly down by 0.03%.
Coming to the previous session, EURUSD touched the intra-day high of 1.2305 level in response to the broad-based weakness in the greenback as the implementation of mass immunization and hopes of faster economic recovery boded well with the single currency. In addition to this, the upbeat Eurozone data underpinned the gain in the currency pair. The German Retail Sales data stood at 1.9% versus the forecast of -2.0% and, the German Unemployment Change statistics came at -37k against the expectation of 10k. Subsequently, EURUSD settled the day at 1.2295 level , up by 0.43%.
Moving ahead, investors can take cues from the German and French Final Services PMI data for short term trading impetus. Later in the day, the focus will shift towards the US ADP Non-Farm Employment Change, US Final Services PMI report and FOMC Meeting Minutes

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[Terry_8]

EURUSD RESILIENT ABOVE 1.23 HANDLE ON HOPES OF A LARGER FISCAL STIMULUS


EURUSD ekes out modest gains on Thursday following the news that Democrats won two US senate runoff elections in Georgia. The election outcome can push the democrats' agenda and influence infrastructure spending. With the pandemic lockdowns reinstated, there is a need for economic aid and the Democratic control raises hopes for a larger than expected fiscal stimulus that is needed to support the global recovery.
As of now, the currency pair is trading at 1.2330 level, representing mild gains of 0.05%.
Coming to the previous session, the euro remained a better bid throughout the session in response to the risk-on sentiments prevailing in the market. Besides, the US ADP Non-Farm Employment Change data came at -123k worse than the anticipated 60K, thus adding to the already bleak sentiments surrounding the greenback. However, later in the session, the currency pair trimmed some of its gains after Trump supporters protested against Congress certifying Joe Biden’s win. Subsequently, the currency pair settled the day at 1.2323 level , up by 0.23%.
Moving ahead, investors can take cues from the Eurozone CPI Flash Estimates and Retails Sales data for short term trading impetus. Later in the day, the US will publish Unemployment Claims data and ISM Services PMI reports

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[Terry_8]

EURUSD FALTERS AMID CORONAVIRUS JITTERS



EURUSD is trading on the back foot for the second day in a row as surging coronavirus cases across Europe that show no signs of abating, exerted downward pressure on the single currency. The minsters in Finland decided to restrict the entry from various nations until February 9th after the world health organization warned Europe to tighten its lockdown measure to combat the spread of the new variant of coronavirus.

As of now, the currency pair is trading at 1.2262 level, representing a loss of 0.07%.

Coming to the previous session, EURUSD initially eked out modest gains to test the intra-day high of 1.2345 level following the news that Democrats won two US senate runoff elections in Georgia, which raised hopes for a larger than expected fiscal stimulus. However, later in the session, the currency pair slipped from its day’s high in response to the disappointing eurozone data. The CPI Flash estimates came at -0.3% versus the expectation of -0.2% and the Retail sales stood at -6.1%, worse than the forecast of -3.4%. On the US front, Unemployment Claims and ISM Services data showed upbeat results that added to the already bleak tone surrounding the single currency. Consequently, EURUSD settled the day at 1.2268 level, down by 0.44%.

Moving ahead, investors will be monitoring the German Industrial Production report and Consumer Spending data. Later in the day, the US will publish Average Hourly Earnings data, Non-Farm Employment Change data, and Unemployment Rate statistics.

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[Terry_8]

EURUSD DWINDLES AS GREENBACK GAINS GROUND



EURUSD falters in Asian hours on Monday as greenback gains ground amid lingering coronavirus concerns that shatter the prospects of quick economic recovery. Approximately 90 million people have been infected with the virus, causing over 1.9 million fatalities worldwide. Besides, market participants turned cautious after news that US democrats are planning to impeach the outgoing US President Donald Trump from the office following chaos at Capitol Hill last week.
The currency pair is currently seen trading at 1.2174 level, down by 0.35%.
Coming to the previous session, EURUSD plummeted to the day’s low of 1.2193 level as the rise in the US 10-year treasury yields weighed on the demand for the single currency. In addition to this, the US Average Hourly Earnings data stood at 0.8% better than the market expectation of 0.2%, and the Unemployment Rate came at 6.7% versus the forecast of 6.8%. The data further underscored the bleak tone surrounding the common currency. Subsequently, the currency pair settled the day at 1.2218 level, down by 0.41%.
Moving ahead, investors can take cues from the Eurozone Sentix Investor Confidence data and speech of FOMC Member Bostic for short term trading impetus.

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[Terry_8]

EURUSD: CONCERNS REGARDING THE SURGE IN CORONAVIRUS CASES WEIGH ON EURUSD


EURUSD continues to remain on the back foot for the fourth straight session as the surge in Coronavirus across Europe weighs on the demand for the single currency. Germany reported 11,765 fresh cases, while Spain recorded 24,631 new cases on Monday. Besides, investors remain cautious after the introduction of an article of impeachment by the House Democrats against the outgoing President Donald Trump.
As of now, the currency pair is trading at 1.2142 level, representing a mild loss of 0.06%.
Coming to the previous session, the single currency took a beating in response to the broad-based strength in the US dollar that drifted the EURUSD pair towards the day’s low of 1.2132 level. Investors increasingly flocked towards the perceived safe-haven greenback due to lingering coronavirus concerns that dampens the prospects of quick economic recovery. In addition to this, Eurozone Sentix Investor Confidence data stood at 1.3 versus the expectation of 2.0, thus further denting the demand for the single currency. Consequently, EURUSD settled the day at 1.2149 level, down by 0.57%.
Moving ahead, investors can take cues from the US NFIB Small Business Index data, JOLTS Job Openings reports, and Speech of FOMC members Brainard for further trading impetus.

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[Terry_8]

EURUSD NUDGES MILDLY HIGHER ABOVE THE 1.22 HANDLE AMID HOPES OF ADDITIONAL STIMULUS


EURUSD trades at 1.2212 level, representing marginal gains of 0.06% in the Asian trading hours on Wednesday amid optimism over the additional fiscal aid. The hopes are pinned on Joe Biden’s administration to announce huge stimulus in trillions of dollars to revive the economy hit by the COVID-19 pandemic. Besides, the expectation that mass vaccination will eventually lead to economic recovery underpinned the market mood.
Nevertheless, investors remain a bit anxious after House Speaker Nancy Pelosi stated that votes would be held later in the day to impeach the outgoing president Donald Trump following chaos in Capitol Hill.
Coming to the previous session, EURUSD eked out modest gains to settle the day in green at 1.2205 level, up by 0.46%. The dollar retreated across the board after its four-day winning run, which boded well with the single currency. In addition to this, the release of dismal US data added bids to the EURUSD. As per reports, the NFIB Small Business Index data stood at 95.9 versus the expectation of 100.1.
Moving ahead, investors can take cues from the Eurozone Industrial Production data and the Speech of ECB President Lagarde for short-term trading impetus. Later in the day, the focus will shift towards the US CPI data.

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[Terry_8]

EURUSD DWINDLES AMID CORONAVIRUS WOES, EYES ON FED CHAIR POWELL’S SPEECH



EURUSD edges lower in the Asian trading hours on Thursday as Eurozone tackles a much-feared faster spreading variant of coronavirus by imposing several restrictions and strict social distancing norms. Roberto Speranza, Italy’s Health Minister stated on Wednesday that Covid-19 state of emergency will extend until April as infections continue to rise. On the other hand, the German cabinet allowed for stricter restrictions for passengers from nations with high caseloads.
As of now, the currency pair is trading at 1.2145 level, down by 0.09%.
Coming to the previous session, EURUSD initially touched the intra-day high of 1.2222 level amid optimism over the additional US fiscal aid. However, later in the session, the currency pair succumbed to selling pressure as the greenback strengthened across the board amid worries over the surging coronavirus cases. Besides, the outgoing President Trump had been impeached from office for the second time. On the data front, the Italian Industrial production data came -1.4% worse than anticipated -0.4%, while the US CPI reports came in line with the expectations at 0.4%. Subsequently, EURUSD settled the day at 1.2156 level, down by 0.40%.
Today’s economic docket highlights the ECB Monetary Policy Meeting Accounts, Unemployment Claims data, and Fed Chair Powell’s speech that could significantly impact the pair’s performance.

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[Terry_8]

EURUSD TAD LOWER AMID SURGING CORONAVIRUS CASES ACROSS EUROZONE



EURUSD trades near 1.2148 level, representing a slight loss of 0.03% in the Asian trading hours on Friday. The surging coronavirus cases across Europe that show no signs of abating, exerted some downward pressure on the single currency. Spain and France registered nearly 35,878 and 21,228 fresh coronavirus cases in the past 24 hours. Considering the surge in virus cases, the French government extended curfews in a bid to ‘avoid Stringent measure’ to curb the spread of coronavirus. Meanwhile, the President-elect Joe Biden proposed a $1.9 trillion fiscal aid designed to kick-start the world’s largest economy, which limits losses in the currency pair.
Coming to the previous session, EURUSD initially succumbed to selling pressure and touched the intra-day low of 1.2111 level as the Eurozone imposed several restrictions and strict social distancing norms to tackle the faster spreading variant of coronavirus.
Later in the US session, the pair rebounded from the day’s low following broad-based weakness in the greenback amid announcement of fiscal aid. Besides, the release of dismal US Unemployment Claims data that came at 965k versus the consensus of 785k, further weighed on the US dollar. Subsequently, the currency pair settled the day at 1.2151 level, mildly down by 0.04%.
Moving ahead, investors will take cues from the French CPI data and Eurozone Trade Balance reports for some trading impetus. Later in the day, the US will publish Retail Sales data, Empire State Manufacturing Index, PPI data, and Industrial Production reports.

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[Terry_8]

EURUSD TICKS LOWER AMID CORONAVIRUS SCARE AND USD STRENGTH



EURUSD dwindles for the fourth consecutive session on Monday as the coronavirus scare across the globe that shows no signs of slowdown weighs on the single currency. Global coronavirus cases have surpassed the worrisome 95 million mark with over 2 million deaths. In this regard, Nations across Europe have resorted to tighter lockdown restrictions and strict social distancing norms. Besides, the broad-based strength in the greenback added to the already bleak tone surrounding the shared currency.
As of now, the currency pair is trading at 1.2071 level, mildly down by 0.05%.
Coming to the previous session, the single currency succumbed to the selling pressure and finally concluded the session on a weaker note at 1.2074 level, down by 0.63%. The market sentiments dented following news that there would be an unexpected delay in Pfizer vaccine due to substantial 'cuts' in the delivery. In addition to this, the fresh political uncertainty in Italy weighed on the Euro as the current coalition government lost the support of former Prime minister Matteo Renzi.
Moving ahead, market participants can take cues from the German Buba Monthly Report and Eurogroup Meetings scheduled later in the day.

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[Terry_8]

EURUSD GAINS AMID USD WEAKNESS, EYES ON GERMAN ZEW ECONOMIC SURVEY



EURUSD caught fresh bids in the Asian trading hours on Tuesday in response to the broad-based weakness in the greenback and the risk-on tone prevailing in the Asian equities. Market participants wagers that economic growth in China would boost the economic recovery prospects. Besides, investors await the German ZEW Economic Sentiments data and the comments by US Treasury Secretary nominee Janet Yellen for some guidance on the US stimulus as this could potentially lead to volatility in the pair.
As of now, the currency pair is trading at 1.2096 level, representing gains of 0.17%.
Coming to the previous session, the single currency remained frail against its US counterpart throughout the session, touching the day’s low of 1.2053 level. Investors flocked towards the safe-haven greenback amid coronavirus scare across the globe and tighter lockdown restrictions and strict social distancing norms in Europe. However, later in the session, the currency pair bounced modestly amid thin trading due to a holiday in the US. Subsequently, the currency pair concluded the session unchanged at the 1.2077 level.
Today’s economic docket highlights the ECOFIN Meetings, German ZEW Economic sentiments report, and Italian Trade Balance data for short term trading impetus.

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[Terry_8]

EURUSD EKES OUT MODEST GAINS AMID RISK-ON MARKET MOOD



The single currency ekes out modest gains versus its US counterpart on Wednesday amid risk-on sentiments prevailing in the equity markets. Investors remain largely optimistic regarding the prospect of additional stimulus under the leadership of upcoming President Joe Biden. Besides, the broad-based weakness in the greenback is adding to the bids for the shared currency.
As of now, EURUSD is trading at 1.2143 level, representing gains of 0.11%.
Coming to the previous session, the currency pair recovered its crucial 1.21 threshold and touched its intra-day high of 1.2144 level as the greenback lost momentum across the board. The US Treasury Secretary nominee Janet Yellen urged the lawmakers for a massive fiscal relief package to cushion the economy from the devastating impact of the coronavirus pandemic, thereby adding to the already bleak tone surrounding greenback. Apart from Yellen’s comment, the upbeat German ZEW Survey that came at 61.8 better than anticipated 55.1 gave boost to the single currency. Subsequently, the currency pair settled the day at 1.2128 level, up by 0.45%.
Moving ahead, investors can take cues from the Eurozone Final CPI data and the US NAHB Housing Market Index report slated for today

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[Terry_8]

EURUSD SURGES ABOVE 1.21 HANDLE, EYES ON ECB MONETARY POLICY DECISION



EURUSD trades at 1.2129 level, representing gains of 0.20% in the Asian trading hours on Thursday as the prospect of an additional fiscal stimulus under the leadership of newly inaugurated US President Joe Biden underpins the upbeat market sentiments. On the other hand, investors await the European Central Bank’s policy decision slated for today. The Central Bank is widely anticipated to keep the interest rates unchanged and rely on its existing tools to support the Eurozone economy.
Coming to the previous session, initially, the currency pair surged to the intra-day high of 1.2158 level as investors remained largely optimistic regarding the prospect of massive fiscal aid. However, later in the session, the currency pair tumbled to the day’s low of 1.2076 level as the greenback recovered ground across the board. On the data front, the EU Final CPI data came in line with expectations at -0.3% whereas, the US NABH Housing Market Index came at 83, less than the forecast of 86, which helped EURUSD to recoup some of its losses to finally settled the day at 1.2104 level, down by 0.20%.
Moving ahead, investors should closely follow the ECB’s Monetary Policy Decision, followed by the ECB press conference scheduled for today. On the other hand, the US will publish Philly Fed Manufacturing Index data, Unemployment Claims report, Building Permit data, and Housing Starts report.

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[Terry_8]

EURUSD NUDGES HIGHER AHEAD OF GERMAN PMI DATA



EURUSD trades on the front foot for the second consecutive session as investors await a slew of PMI data to be released by the Eurozone and Germany. Besides, the hopes of additional fiscal aid to temper the devastating impact of the coronavirus pandemic is boding well with the single currency.
As of now, the currency pair is trading at 1.2174 level, representing gains of 0.10%.
Coming to the previous session, EURUSD touched the peak of 1.2173 level as investors remained optimistic regarding the prospect of additional stimulus under the leadership of newly inaugurated US President Joe Biden, which supported the upbeat market sentiments. Besides, European Central Bank’s kept the interest rates unchanged at 0.00% and pledged to support the Eurozone economy with its existing tools.
However, later in the session, ECB president Christine Lagarde expressed concerns regarding the surge in coronavirus cases. Also, the US published encouraging Building permits and Jobless Claims data. Even then, EURUSD managed to sustains gains to conclude the session near its intra-day high level at 1.2161 level, up by 0.47%.
Moving ahead, investors should closely follow the German and Eurozone Manufacturing PMI data scheduled for today. On the other hand, the US will publish Existing Home Sales data, Flash manufacturing, and Services PMI report

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[Terry_8]

EURUSD EDGES HIGHER AS GREENBACK WILTS, MARKETS AWAIT GERMAN IFO DATA



EURUSD flashes green in the Asian trading hours as greenback slips across the board on optimism regarding the prospect of additional stimulus in the US. Apart from that, investors are looking forward to the release of German IFO Business Climate data that can offer cues about the pace of economic recovery in the Eurozone amid the ongoing pandemic.
As of now, the currency pair is trading at 1.2178 level, representing mild gains of 0.06%.
Coming to the previous session, EURUSD touched the peak of 1.2189 level in response to the hopes of massive fiscal aid by newly inaugurated US President Joe Biden. In addition to this, the German Flash manufacturing and services PMI data surpassed the forecasts, which further added bids for the pair.
However, later in the session, EURUSD pared some of its gains following the release of cheerful US data as the Flash Manufacturing PMI came at 59.1 against the expectation of 56.6, whereas the Flash Services data stood at 57.5 versus the forecast of 53.3. Subsequently, the currency pair concluded the session at 1.2170 level, up by 0.07%.
Apart from the German IFO Business Climate data, investors should closely follow the Speech of ECB President Lagarde for short-term trading impetus.

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[Terry_8]

EURUSD TAD LOWER, EYES ON U.S. FED MONETARY POLICY DECISION



The single currency dips modestly versus its US counterpart on Wednesday as investors refrain from placing aggressive bets ahead of the U.S. Federal Reserve monetary policy decision slated for today. The FED is likely to reaffirm an accommodative stance with no policy changes.
On the coronavirus front, the global cases have surpassed the worrisome 100 million mark as nations struggle to contain the new variant of coronavirus amid vaccine shortfalls.
As of now, the currency pair is trading at 1.2156 level, representing a mild loss of 0.03%.
Coming to the previous session, EURUSD initially slipped to the day’s low of 1.2107 level due to the increase in the travel restrictions and the delay in vaccine delivery that weighed on the investor’s sentiments. However, later in the session, the currency pair reversed its losses and surged to the intra-day high of 1.2176 level on optimism regarding the prospect of additional US stimulus, which dented the safe-haven appeal of the greenback. Subsequently, the currency pair settled the day at 1.2159 level, up by 0.19%.
Moving ahead, investors should closely follow the German GFK Consumer Climate data and US Durable Goods Orders data for short-term trading impetus. Later in the day, the focus will shift towards FOMC Statement and Federal Funds rate decision.

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