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AUDUSD

Analysis

Analysis - 2 days ago

Week Ahead – RBNZ to slash rates ahead of US and Eurozone inflation data

RBNZ is expected to cut rates by 50 bps at its last policy meeting of 2024But will PCE inflation data give the green light for a Fed cut?Eurozone flash CPI also critical for ECB’s December decisionRBNZ set for third rate cut The Reserve Bank of New Zealand will kick-start the end of year policy meetings of the major central banks when it announces its decision on Wednesday.
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Analysis - 2 days agoBearish

Technical Analysis – AUDUSD rangebound in quiet trading

 AUDUSD holds steady within 0.6500 zoneTechnical picture remains gloomy below 0.6630AUDUSD has largely ignored the swings in the US dollar this week, staying relatively stable within the 0.6500 area and slightly above its recent three-month low of 0.6439.There is not much evidence of strong buying appetite at the moment as the RSI is pointing down in the bearish area below 50 and the stochastic oscillator is set for a negative reversal.
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Analysis - 5 days ago

Daily Comment – Stocks cautiously edge up amid geopolitical and inflation risks

Softer yields lift stocks despite Ukraine fears and rate cut doubtsGold extends rebound, oil also higher in choppy tradingDollar on the backfoot amid lack of direction as yen firmsStocks rebound but struggle for momentumEquity markets were in a perky mood on Tuesday as a recovery on Wall Street helped Asian stock markets advance, although European shares were more mixed.
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Analysis - 1 week ago

Daily Comment – Wall Street loses more steam as Powell not in a hurry to cut rates

US stocks set for weekly loss as Powell adds to Fed’s hawkish soundbiteBut dollar unable to hit fresh highs; US retail sales eyed nextYen firms after verbal intervention; euro also reboundsDecember cut in doubt after Powell commentsFed rate cut expectations were dramatically pared back on Thursday after Fed chief, Jerome Powell, rounded up the week’s hawkish rhetoric by adding to the sense of caution about the pace of easing.
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Analysis - 1 week ago

Daily Comment – Dollar wavers on US CPI, surges on hawkish Fed remarks

US CPI meets expectations, bolstering rate cut hopesBut Fed hawks spoil the mood as dollar hits one-year highGold continues to bleed even as stocks stumble Dollar ascends as Fed wary after CPI reportThe US dollar’s post-election surge shows no sign of ending as it advanced to one-year highs against a basket of currencies on Thursday, causing fresh pain for its rivals.
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Analysis - 1 week agoBearish

Technical Analysis – AUDUSD remains in the red; sellers seem cautious

AUDUSD charts new low after disappointing jobs dataShort-term outlook remains bearish; sellers eye 0.6470 supportAUDUSD continues its bearish slide, hitting a three-month low of 0.6458 in the wake of weaker-than-expected Australian jobs data early on Thursday.Having slumped below the key support trendline that delivered two impressive bullish cycles earlier this year, the pair might be at risk of a bearish continuation, though with the price returning above the August base of 0.6470, hesitation
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Analysis - 2 weeks agoNeutral

Technical Analysis – AUDUSD selloff loses steam

AUDUSD in the red again todayIt has managed to drop below 0.6547Momentum indicators are mostly bearishAUDUSD is trading lower again today, recording its fourth consecutive red candle, as the dollar bulls continue to dance to the tune of the US presidential election’s outcome. As a result, AUDUSD has dropped below 0.6547, the lowest level since early August.
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Analysis - 2 weeks ago

Daily Comment – Dollar extends gains, bitcoin soars but stocks lose momentum

Tariff fears weigh on euro and other majors, dollar continues to climbBitcoin and Wall Street hit new records but broader equities stumble   Gold unable to get a boost from Trump picking hawks for this team   Trump trade still powering the marketsSpeculation about the expected impact of Donald Trump’s policies continues to dominate the market theme, as investors await details about who will be in Trump’s cabinet.
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Analysis - 2 weeks ago

Week Ahead – US CPI to shift market focus back to data after Trump shock

After Trump comeback, normality to return to markets with US CPIGDP data from UK and Japan to also be importantBut volatility to likely persist as markets assess impact of Trump 2.0US CPI eyed as rate cut bets fade after Trump winDonald Trump’s historic return to the White House was met with a euphoric response by the markets. Wall Street and Bitcoin rallied to record highs, while the US dollar skyrocketed to 4-month highs.
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Analysis - 3 weeks agoNeutral

AUDUSD is well in the red todayStrong resistance set by the 200-day SMAMomentum indicators are mostly bearishAUDUSD is trading lower today, reacting to the news that former president Trump has probably secured a second term in the White House, with today’s price action almost entirely canceling out Tuesday’s upleg, which was caused by the hawkish RBA meeting.
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Analysis - 3 weeks agoBullish

AUDUSD claims 0.6620 zone after fast rallyShort-term bias positive, but there are more threats higherStochastics and RSI in bullish modeAUDUSD has been gaining some ground over the last week, testing the 0.6620 resistance level. The price managed to surpass above the 20- and 50-period simple moving averages (SMAs) in the 4-hour chart with the momentum oscillators experiencing an upside movement.
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Analysis - 3 weeks ago

Daily Comment – Markets hold their breath as America votes

US presidential election in the spotlightMarkets in anticipation mode as volatility is elevatedDollar, equities and gold remain under pressureAussie fails to materially benefit from RBA’s hawkishnessThe long wait is finally overThe countdown for the biggest event of 2024 is finally over as in a few hours around 80 million registered voters will cast their vote across the United States.
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Analysis - 3 weeks ago

Daily Comment – Dollar gaps down as Trump seems to be losing Iowa

Nonfarm payrolls slow to the smallest gain since Dec 2020Dollar opens Monday with negative gap on US election pollWhat will Fed officials decide just after the election?RBA gets the ball rolling tonight; expected to stand patDollar brushes off very weak nonfarm payrollsThe dollar finished Friday’s session up against most of its major peers, despite nonfarm payrolls slowing to 12k last month, the smallest gain since December 2020.Despite the surprisingly low number, the market brushed off the r
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Analysis - 3 weeks ago

RBA in wait-and-see mode despite drop in inflation – Preview

RBA to stand pat at 4.35%Aussie may not be affected from this meetingDecision due on Tuesday at 3:30 GMTRBA policy to remain unchangedThe upcoming Reserve Bank of Australia (RBA) policy meeting on November 5 is highly anticipated, with the bank adopting a wait-and-see approach and holding the cash rate steady while monitoring economic developments.
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Analysis - 3 weeks ago

Week Ahead – US election draws all eyes, Fed, RBA and BoE meet

Traders lock gaze on Tuesday’s US electionTrump and Harris battle neck and neck in final stretchFed to decide whether to cut interest ratesRBA and BoE decisions are also on next week’s agendaThe US dollar flexed its muscles lately on the back of upbeat data suggesting that there is no need for the Fed to deliver another bold 50bps rate cut at the remaining gatherings of the year, but also due to increasing market bets that Donald Trump will return to the White House.It’s US election time!T
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Analysis - 3 weeks ago

Daily Comment – Volatility returns with a vengeance ahead of key US events

Month-end pushes stock indices and gold in the redMarket angst could continue going into Tuesday’s US electionFocus today is on the US labour market dataDollar fails to benefit against the euro and the yenMonth-end pushes stock indices in the redThe recent, relatively quiet, market sessions were interrupted yesterday, with a strong correction recorded in both equities and gold.
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Analysis - 3 weeks agoNeutral

Technical Analysis – Could the AUDUSD selloff pause temporarily?

AUDUSD is trading sideways, a tad above 0.6547The downtrend from the September 30 high remains in placeMomentum indicators are mostly bearishAUDUSD is trading sideways today, a tad above 0.6547. The bearish trend from the September 30 peak remains firmly in place, and, quite interestingly, AUDUSD bulls have failed, up to now, to stage an upleg and temporarily interrupt the ongoing selloff.
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Analysis - 4 weeks ago

Daily Comment – Wall Street lifted by earnings as election jitters boost gold

US dollar and gold remain elevated as markets bet on Trump winBut Nasdaq hits record amid optimism about tech earningsSlew of data awaited out of the US and Eurozone, UK budget also eyedUS election angst still driving sentiment  Growing anxiety about the US presidential election continued to set the market mood on Wednesday, with Republican candidate Donald Trump extending his gains in the polls.
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Analysis - 4 weeks ago

Week Ahead – A decisive week for USD with NFP and more; BoJ meets

A crucial week lies ahead with US jobs report, advance GDP and PCE inflationThe Bank of Japan is expected to hold rates, but will it flag a year-end hike?Flash GDP and CPI data for the euro area are also hotly anticipatedAustralian quarterly CPI and UK budget on the agenda tooAll eyes on US data as Fed turns hawkish againThe Federal Reserve’s surprise decision in September to cut rates by a larger-than-expected 50-basis-points seems like a distant memory now, as policymakers are once again sen
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Analysis - 4 weeks agoBearish

Technical Analysis – AUDUSD battles with 200-day SMA

AUDUSD may pause downside moveStochastic and RSI still show negative signsAUDUSD has been battling with the 200-day simple moving average (SMA) near 0.6630 over the last couple of days, and selling interest has started after its pullback off the 20-month high of 0.6940.According to technical oscillators, the stochastic is trying to cross beneath the 20 level, and the RSI is sloping slightly south below the neutral threshold of 50.If the price successfully falls below the 200-day SMA and the
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