AUDUSD

Technical Analysis – AUDUSD barely recovers; looks to develop sideways

Posted on October 19, 2020 at 1:19 pm GMT

AUDUSD has adopted a positive trajectory, improving slightly after pivoting at the 0.7055 low. The rising red Tenkan-sen line and the strengthening technical indicators endorse additional positive price action. Yet, the weakened slopes of the simple moving averages (SMAs) and their converging bearings are sponsoring an evolving horizontal picture. The short-term oscillators reflect a slight increase in positive momentum. The MACD, some distance below zero, is rising above its red trigger line, while the RSI is struggling to reach the [..]

Week Ahead – Flash PMIs could underscore worsening virus trend; US election polls in focus

Posted on October 16, 2020 at 12:36 pm GMT

The virus reality has come back to bite markets just as investors were attempting once again to shrug off the gloom and doom. The daily frequency of tighter Covid restrictions being announced across Europe and dimming expectations of a pre-election stimulus deal by US lawmakers has put a dampener on risk sentiment over the past few days. Uncertainty about the US election and Brexit are adding to the market anxiety. With none of these outstanding issues expected to be resolved [..]

Daily Market Comment – Wall Street storms back, but currencies don’t play along

Posted on October 16, 2020 at 9:04 am GMT

US stocks trim losses, close almost unchanged as Trump hints at higher stimulus offer Yet, the currency arena doesn’t get the memo – dollar holds onto gains Most likely just a reflection of euro and sterling weakness Coming up: US retail sales today, New Zealand election over the weekend Equity and currency markets dance to different tunes Global markets are torn between conflicting narratives, with fears around new virus restrictions in Europe that could cripple the recovery being mostly neutralized [..]

Daily Market Comment – Sentiment sours as stimulus talks stall, virus cases surge

Posted on October 15, 2020 at 10:39 am GMT

Stocks retreat, dollar goes nowhere as Mnuchin plays down pre-election stimulus European covid cases go through the roof, but euro stands its ground UK signals it won’t abandon Brexit talks this week, pound jumps Aussie slides after RBA Governor fuels speculation for rate cut Stimulus talks stall, markets fall Global equity markets continue to correct lower, with the major US indices sliding yesterday and Asian bourses being a sea of red on Thursday, as the chances of a US relief [..]

Technical Analysis – AUDUSD tests 100-day SMA; neutral bias governs

Posted on October 15, 2020 at 7:58 am GMT

AUDUSD appears fixed, cramped between its 50- and 100-day simple moving averages (SMAs) and is adopting a short-term sideways demeanour. The steadied Ichimoku lines and the regulating 50- and 100-day SMAs back this view and may keep the price bound in a neutral phase for a while longer. The MACD, slightly below zero, is above its red signal line opposing negative momentum but looks set to dip back under it. The stochastic oscillator maintains a strong negative bearing, while the [..]

Australian unemployment data to shed light on recovery – Forex News Preview

Posted on October 13, 2020 at 2:25 pm GMT

September’s employment report for Australia is likely to catch investors’ eyes on Thursday at 0030 GMT as the Australian economy is in recession as a result of the Covid-19 pandemic – its first recession in almost 30 years. Stronger figures in employment may provide some relief to the domestic currency, helping it to surpass the two-year high. Unemployment figure predicted to slow down In the previous release, the unemployment rate unexpectedly fell to 6.8% in August from a near 22-year high of 7.5% [..]

Daily Market Comment – Stocks and currencies tell a conflicting story

Posted on October 13, 2020 at 12:12 pm GMT

Equities cruise higher, back within breathing distance of record highs But FX doesn’t play ball – yen climbs, commodity currencies underperform Euro headed for trouble amid high infections and growth worries Today: US inflation data coming up, earnings season resumes Currencies don’t play along with stock rally The US stock market rallied furiously on Monday, with the tech-heavy Nasdaq 100 gaining 3.1% to come within breathing distance of its recent record highs, propelled higher by the likes of Apple (+6.4%) [..]

Daily Market Comment – Art of the Deal sends equities higher, torpedoes dollar

Posted on October 12, 2020 at 11:38 am GMT

White House bumps stimulus offer to $1.8 trillion, stock market cheers Kudlow hints this offer could be raised further, keeping optimism alive Dollar slides amid renewed deficit concerns, gold capitalizes ECB chief economist prepares the ground for more easing Markets cheerful as stimulus negotiations resume In an epic reversal after pulling out of the stimulus talks last week, Donald Trump came back to the negotiating table on Friday with a counteroffer of $1.8 trillion, sparking hopes that a deal is [..]

Technical Analysis – AUDUSD’s progress suppressed by 200-MA

Posted on October 12, 2020 at 10:27 am GMT

AUDUSD appears muted by the 200-period simple moving average (SMA) after having shot upwards from the 0.7094 level, above the Ichimoku cloud and the SMAs. The stalled blue Kijun-sen line at 0.7168 and the short-term oscillators back a weakening picture, while the rising red Tenkan-sen line and the 50-period SMA’s recent bullish crossover of the 100-period SMA endorse strength in the pair. The MACD, in the positive region, is flattening above its red trigger line reflecting a slight drawback in [..]

Week Ahead – Hopes of a Democratic sweep propel markets higher

Posted on October 9, 2020 at 1:20 pm GMT

It’s been a wild week for global markets, which defied the gloom after President Trump halted the negotiations for another relief package to focus instead on the rising odds of a decisive Biden victory that could bring much greater stimulus after the election. This will likely remain the dominant theme for the dollar and equities for now, with economic data being overshadowed by incoming election polls. Meanwhile, the earnings season resumes, Brexit talks continue, and it seems like the second [..]

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