AUDUSD

US Open Preview – Euro holds up on political relief; US core PCE inflation ahead

Posted on May 31, 2018 at 11:43 am GMT

Here are the latest developments in global markets: FOREX: The euro extended its gains on Thursday by 0.33% against the US dollar as Italian bond yields fell amid signs that Italy is trying to form a government, potentially avoiding an early election. In terms of data, the Eurozone CPI rose by 1.9% y/y in May above April’s growth mark of 1.2%, while the unemployment rate decreased to 8.5% in April, following an upwardly revised 8.6% in March, compared with the forecast of 8.4%. Dollar/yen moved lower by [..]

European Open Preview – Euro rebounds as Italian risks recede for now; inflation data the next euro-mover

Posted on May 31, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance versus a basket of six major currencies – was down by 0.2% on Thursday, extending the losses it posted the previous day. The pullback was mainly owed to a rebound in the euro, the currency that holds more than 50% of the weight in the dollar index. Meanwhile, the Canadian dollar surged following some hawkish hints from the nation’s central bank. STOCKS: [..]

US Open Preview – Euro continues recovery as Italy looks for early elections; BoC rate decision ahead

Posted on May 30, 2018 at 11:28 am GMT

Here are the latest developments in global markets: FOREX: The single currency rebounded on Tuesday’s 10-month low near 1.1500 against the greenback (+0.67%) as concerns about Italy’s political crisis remains in focus and there is a chance of new elections taking place on July 29. In data, economic sentiment in the Euro area came in slightly higher than expected in May at 112.5 but below the April’s mark of 112.7. Pound/dollar traded higher by 0.14% to 1.3269 following the 6-month low of 1.3203 that it posted on Tuesday. Dollar/yen rose above [..]

Chinese PMIs due with trade developments remaining in the background; aussie also attracts attention – Forex News Preview

Posted on May 30, 2018 at 9:56 am GMT

Chinese official PMI data for May are scheduled for release on Thursday at 0100 GMT. Manufacturing activity, which is expected to attract most interest, is anticipated to marginally ease though still remain in expansion territory. In the bigger picture, besides data releases, trade talks between the US and China continue taking place and have the capacity to act as market movers. Data releases due on Thursday are projected to show China’s official manufacturing PMI coming in at 51.3 from April’s [..]

European Open Preview – Euro catches its breath after slide; Bank of Canada decides

Posted on May 30, 2018 at 8:03 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by roughly 0.1% on Wednesday, giving back some of the gains it posted yesterday, when it touched its highest point since early November. Meanwhile, although the euro posted considerable losses yesterday, it has rebounded somewhat today, trading higher by 0.3% versus the yen and 0.25% against the dollar. STOCKS: Wall Street was slammed yesterday, with all major US indices posting hefty declines as Italy’s political [..]

Technical Analysis – AUDUSD creates 2-week low of 0.7475; bearish structure remains in medium term

Posted on May 30, 2018 at 6:31 am GMT

AUDUSD has been underperforming in the past three days, following the touch on the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.7410, around 0.7580. Early this morning, the pair recorded a fresh two-week low of 0.7475 while it still trading below the 20-simple moving average (SMA) in the daily timeframe. Short-term momentum indicators are also pointing to a continuation of the bearish bias. The MACD oscillator is heading south and is approaching the its trigger line, while [..]

US Open Preview – Italian politics push euro to 10-month low versus the greenback; US consumer confidence due

Posted on May 29, 2018 at 11:08 am GMT

Here are the latest developments in global markets: FOREX: The euro continued to bleed as the European trading session unfolded, with euro/ dollar touching 1.1506 at its lowest, this being a nadir last experienced in July last year. Political uncertainty in Italy, and to a lesser extent in Spain, were seen as factors behind the common currency’s decline. The traditional safe-haven yen gained ground versus both the dollar and the euro, most notably the latter; euro/yen was down by more [..]

European Open Preview – Euro retreat in full swing as Italian political uncertainties dominate

Posted on May 29, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – edged 0.2% higher on Tuesday, touching its best levels since November. The euro meanwhile remained on the back foot, as the increasing probability for early elections in Italy dampened the currency’s appeal. STOCKS: US markets remained closed on Monday in celebration of the Memorial Day holiday. They look set to open lower today, as futures tracking [..]

Week Ahead – Dollar rally turns to US jobs report for refuelling; Loonie seeks direction from BoC and GDP data

Posted on May 25, 2018 at 1:08 pm GMT

US economic data will return to the forefront next week, with the nonfarm payrolls report being the main focal point. The Bank of Canada will be the only major central bank holding a policy meeting, while Canadian GDP figures will keep the loonie under the limelight. The other highlights will come from the Eurozone flash CPI release, Japanese and Australian capex data, and the latest PCE inflation figures out of the US. The week will get off to a slow [..]

US Open Preview – Oil loses ground as Russia and Saudi Arabia discuss supply increases

Posted on May 25, 2018 at 11:37 am GMT

Here are the latest developments in global markets: FOREX: The US dollar rose 0.18% versus the yen after three straight days of declines. Meanwhile, the US dollar index jumped by 0.13% to 93.87. Euro/dollar fell by 0.09% and is set to complete the sixth week of declines in a row as concerns over Italy’s debt outlook weighed on sentiment. Pound/dollar moved lower by 0.21% to 1.3347 on Friday as investors eyed UK GDP data for signs of whether the BOE will raise interest rates. The British economy expanded 0.1% q/q [..]

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