AUDUSD

European Open Preview – Euro recovery refueled by ECB speculation; trade developments continue to dominate attention

Posted on June 6, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is trading 0.1% lower on Wednesday, looking set to post its third consecutive day of declines. The euro continued to recover amid speculation around an ECB QE announcement coming sooner rather than later, while the Canadian dollar went for a ride following mixed signals on NAFTA. STOCKS: Major US indices closed mixed yesterday, with the tech-heavy Nasdaq Composite and the S&P 500 climbing by 0.41% and 0.07% respectively, [..]

Technical Analysis – AUDUSD posts strong gains surpassing medium-term descending trend line

Posted on June 6, 2018 at 6:36 am GMT

AUDUSD is looking more bullish over the last few hours as the price aggressively surpasses the medium-term tentative descending trend line in the daily timeframe. The negative momentum appears to have run out of steam as prices have been attempting to close a day above the line. Looking at momentum oscillators in the short-term timeframe though, they suggest further upside correction movement may be on the cards. The RSI indicator lies above its neutral 50 line, detecting positive momentum, and is [..]

US Open Preview – Pound wins on services PMI; oil down ahead of US oil inventories

Posted on June 5, 2018 at 11:44 am GMT

Here are the latest developments in global markets: FOREX: The British pound was the best performer during the early European afternoon, trading 0.55% higher against the dollar on the day at 1.3387 after the UK’s services PMI reading rose more than expected. This was also perceived as a sign of economic strength that could persuade BoE policymakers to raise interest rates in August. Versus the Japanese yen, sterling picked up by 0.44% to 146.80. On the other hand, an upward revision to previous Eurozone retail sales figures didn’t [..]

European Open Preview – Aussie recovers from RBA-induced losses; UK services PMI and EZ retail sales due

Posted on June 5, 2018 at 7:54 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback against six major currencies, was little changed on Tuesday. Meanwhile, the aussie recorded some losses after some RBA comments on the outlook for inflation supported lower rates for longer. Nevertheless, the currency managed to largely recover its earlier losses. STOCKS: Major US indices finished in the green yesterday, with the Dow and the Nasdaq Composite adding 0.7% and the S&P 500 rising by 0.45%. [..]

RBA to stand pat with GDP also eyed; Bank’s communication to set tone for aussie – Forex News Preview

Posted on June 4, 2018 at 1:37 pm GMT

The Reserve Bank of Australia will be completing its meeting on monetary policy on Tuesday, with a decision on interest rates scheduled for release at 0430 GMT. No change in rates is anticipated, with positioning on the aussie expected to be dictated by the tone given by the Bank in the statement accompanying the decision. Meanwhile, also of importance out of Australia are Q1 GDP figures due on Wednesday. Australian headline inflation remained unchanged at 1.9% y/y in Q1, [..]

US Open Preview – Euro heads north as investors’ rate optimism resumes; RBA rate decision next

Posted on June 4, 2018 at 12:04 pm GMT

Here are the latest developments in global markets: FOREX: The Australian dollar continued to outperform its peers rallying by 1.12% against its US counterpart and by 1.20% against the Japanese yen as upbeat retail sales readings and business inventories raised growth prospects ahead of the release of Q1 GDP growth on Wednesday. Its New Zealand cousin was also moving higher, elevated by 0.82% versus the greenback, despite markets in New Zealand being closed for public holiday. Euro/dollar and euro/yen climbed to 1 ½-week highs [..]

European Open Preview – Aussie gains on retail sales beat; trade developments remain in focus

Posted on June 4, 2018 at 7:56 am GMT

Here are the latest developments in global markets: FOREX: The dollar eased a bit versus a basket of currencies on Monday after being boosted on Friday on the back of a largely upbeat US employment report. The aussie was a notable outperformer versus the greenback, being helped by better-than-expected Australian retail sales data. STOCKS: Wall Street’s major benchmarks closed considerably higher on Friday, with the positive sentiment carrying through to today’s Asian session. The Japanese Nikkei 225 and Topix indices [..]

Week Ahead – Aussie in the spotlight as Australian GDP and RBA meeting eyed

Posted on June 1, 2018 at 12:54 pm GMT

Trade figures will dominate next week’s calendar with a number of nations publishing monthly data, though they’re unlikely to attract as many headlines as US protectionism as trade risks appear to be on the rise again. The Australian dollar will be in focus for much of the week as the Reserve Bank of Australia holds a policy meeting and first quarter economic performance is examined. Canadian jobs numbers and GDP revisions in the Eurozone and Japan will also be watched, [..]

US Open Preview – Dollar up on yen despite trade noise; NFP employment report the next challenge

Posted on June 1, 2018 at 11:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar edged higher by 0.38% on Friday against the Japanese yen and jumped above the 109.00 psychological level ahead of the US employment report for May later in the day. It is the last NFP data before the June Fed meeting. The US dollar index – which tracks the greenback’s performance versus a basket of six major currencies – traded slightly higher by 0.07% at 94.05. Meanwhile, euro/dollar is poised to post its first week [..]

European Open Preview – Trade tensions escalate as political risks fade; US jobs figures the data-highlight

Posted on June 1, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is a little more than 0.1% higher on Friday, ahead of the release of the always-important US employment report at 1230 GMT. Elsewhere, the Canadian dollar dived yesterday following discouraging news on the trade front, while the euro continued to regain ground as Italy’s political impasse came to an end. STOCKS: Wall Street closed lower on Thursday, as an escalation of trade tensions suppressed risk appetite. The Dow Jones [..]

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