AUDUSD

Technical Analysis – AUDUSD consolidates, limited between 50- and 100-day SMAs

Posted on October 8, 2020 at 8:10 am GMT

AUDUSD is currently creeping sideways, constricted between the 50- and 100-day simple moving averages (SMAs), after the pullback from the near 25-month peak of 0.7413. The easing negative tones of the Ichimoku lines are aiding the horizontal price action, while the relatively bullish bearing of the 50-and 100-day SMAs defend a neutral-to-bullish structure. Nonetheless, the short-term oscillators reflect mixed signals in directional momentum. The MACD, in the negative region, is strengthening above its red trigger line towards the zero mark, [..]

Stimulus deal: Is it dead or is Trump bluffing? – Special Report

Posted on October 7, 2020 at 3:22 pm GMT

The US president threw another monkey wrench into global markets this week, when he halted the negotiations for a new stimulus package until after the election. Stocks fell while the dollar jumped, but the overall market reaction was rather small and soon turned around. This suggests either that investors believe Trump is bluffing, or that this will cost him so much politically that it increases the chances of a ‘Democratic sweep’ and hence of much greater stimulus after the election. [..]

Daily Market Comment – Trump calls off stimulus talks, sinks Wall Street; dollar up

Posted on October 7, 2020 at 9:06 am GMT

Trump halts stimulus negotiations with Democrats, sends stocks spinning lower But losses cut short as Trump calls for standalone relief bills Dollar comes off highs, eyes FOMC minutes for fresh policy clues Markets not giving up on stimulus as Trump sows confusion Risk assets bounced back on Wednesday as investors questioned President Trump’s intentions for abruptly abandoning talks with the Democrats on a new coronavirus relief bill. A few hours after Trump put an end to the negotiations – where [..]

Daily Market Comment – Dollar steadies as Trump’s health, US stimulus in focus

Posted on October 6, 2020 at 8:49 am GMT

Trump is discharged from hospital but question marks remain about his health US fiscal stimulus edging closer but no deal yet Dollar firms slightly, equities subdued as road ahead still foggy Relief as Trump returns to the White House Markets were calmer on Tuesday as the panic over President Trump’s health subsided further while negotiations for a new coronavirus relief bill continued. Asian stocks got off to a positive start, lifted by news that Trump had been discharged from the [..]

Daily Market Comment – Equities recover as Trump keeps stimulus hopes alive

Posted on October 5, 2020 at 10:40 am GMT

Sentiment recovers on signs that stimulus deal is still in play Stocks rebound alongside crude oil, Japanese yen and gold retreat Markets to stay focused on ultimate game of ‘Deal or No Deal’ Coming up: ISM non-manufacturing and RBA policy decision Markets take solace from signs stimulus is coming Global markets opened on a cheerful note on Monday, emboldened by hopes that a relief package deal can still be brokered in America and that President Trump’s health is improving. The [..]

Technical Analysis – AUDUSD points marginally down but still above SMAs

Posted on October 5, 2020 at 7:42 am GMT

AUDUSD has been recovering nicely after the rebound on the two-month low of 0.7005, crawling back above the 20- and 40-period simple moving averages (SMAs). However, looking at the very short-term the price is ticking slightly down, dropping below 0.7200. From a technical perspective, the near-term bias is viewed as negative, reflected by the decline in the RSI and the MACD. The RSI is pointing down in the bullish area, the MACD is losing momentum below the trigger line and [..]

RBA to hold off on rate cut for now but could flag future move – Forex News Preview

Posted on October 2, 2020 at 1:49 pm GMT

The Reserve Bank of Australia meets on Tuesday for its latest policy decision, with an announcement expected at 03:30 GMT. Having clearly signalled at its previous meeting that the Bank is planning to stay on hold for the foreseeable future, markets were caught by surprise from recent dovish comments by Deputy Governor Guy Debelle. The Australian dollar tumbled in response as short-dated Australian government bond (AGB) yields slipped. But investors are not fully convinced that further easing is imminent as [..]

Week Ahead – Fed, ECB minutes to steer markets through brewing election and virus storm

Posted on October 2, 2020 at 10:02 am GMT

September turned out to be a rough month for equities but a good one for haven currencies as reality caught up with a runaway market. As we head into October, that heightened sense of caution looks set to prevail for a while longer amid intensifying anxiety about the US election and doubts about the sustainability of the global recovery. With not a lot on the economic agenda for the next seven days, jittery traders will be hoping that policymakers on [..]

Daily Market Comment – Markets tank as Trump tests positive for covid, nonfarm payrolls coming up

Posted on October 2, 2020 at 8:55 am GMT

Equities sink, dollar jumps as President Trump gets coronavirus How does this affect election dynamics? Is Biden bad for markets? Sterling trades like a pinball machine amid conflicting Brexit headlines US jobs report is the main event today, European inflation data too Trump throws markets into disarray Global markets are tanking on Friday after US President Trump confirmed he has tested positive for covid-19, injecting another dose of uncertainty into election dynamics. Wall Street futures were already flashing red because [..]

Technical Analysis – AUDUSD rekindles positive sentiment; confronts heavy upside obstacle

Posted on October 1, 2020 at 6:52 am GMT

AUDUSD is encountering tough resistance at the 0.7192 mark after bouncing off the lower band of the cloud that merged with the 100-day simple moving average (SMA), around 0.7005. This fortified barrier coincides with the ceiling of the cloud and is encapsulated by the flattened Ichimoku lines. Nonetheless, the governing tone of the 50-and 100-day SMAs continues to aid the bullish structure. The short-term oscillators also reflect the pickup in positive momentum. The climbing RSI has reached its neutral threshold, [..]

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