AUDUSD

Forex Market Review (European Session) – Dollar and pound march higher; euro extends declines

Posted on November 29, 2017 at 3:21 pm GMT

The US dollar and the British pound remained the day’s biggest winners in European trading on Wednesday on increased hopes of big tax cuts in the United States and the UK and the EU edging closer to a deal on the Brexit divorce terms. Most majors came under pressure from the stronger greenback, including the euro, which headed for a third straight day of losses, but the resurgent pound capped the dollar index’s gains. European equities headed higher after another [..]

Technical Analysis – AUDUSD increasingly bearish after break below 200-day MA

Posted on November 29, 2017 at 7:07 am GMT

AUDUSD continues its downward trajectory and is hovering at its lowest levels in more than 5 months. The outlook has turned increasingly bearish after the market broke below the 200-day moving average. The recent bounce off 0.7531 (November 21 low) was capped at the 61.8% Fibonacci retracement level (0.7630) of the 0.7328 – 0.8124 rise. Breaking above this level would ease immediate downside pressure but prices would meet a resistance zone between 0.7693 – 0.7724 (200-day MA and 50% Fibonacci). [..]

Forex Market Review (European Session) – Dollar broadly weaker; sterling rises despite Brexit uncertainty; oil retreats

Posted on November 27, 2017 at 3:51 pm GMT

With US new home sales being the day’s major release during today’s session, upcoming developments, such as US tax reform deliberations and Brexit negotiations, were in forex market participants’ minds during today’s European session. Meanwhile, the yen was advancing on some softness in Asian and European equity markets. At 1523 GMT, the dollar index, which measures the greenback against the currencies of six major US trading partners, was 0.1% down at 92.74. The gauge finished lower in the three preceding [..]

Forex Market Review (Asian Session) – Dollar pressured by risk-off, looming Senate tax vote; Euro hits fresh 2-month high

Posted on November 27, 2017 at 8:51 am GMT

Asian markets had a poor start to the week as sentiment was dampened by sliding stocks in China and South Korea and uncertainty ahead of the Senate vote on the Republican’s tax plan later this week. Investors were also cautious ahead of a busy data week for the major economies. The yen was the biggest beneficiary of today’s risk aversion, rising against most of its major peers, while the US dollar wallowed at two-month lows against a basket of currencies. [..]

Week Ahead – Manufacturing PMIs and inflation data to dominate; OPEC meeting also eyed

Posted on November 24, 2017 at 2:06 pm GMT

After a relatively quiet week, the economic calendar is looking busier for the coming seven days. Manufacturing PMIs will be released in most major economies as the month comes to an end, and inflation measures for the Eurozone, Japan and the United States will also highlight the week. Canada will be in focus too as GDP and jobs figures are published, while the outcome of a meeting of major oil producers will be awaited by commodity traders. Aussie capex eyed [..]

Forex Market Review (Asian Session) – Dollar flat following losses on Fed perceived dovishness; thin trading on Thanksgiving holiday

Posted on November 23, 2017 at 8:29 am GMT

As the Asian session was nearing completion, the dollar was little changed on the day relative to major rival currencies after yesterday posting sizable losses following the release of the minutes of the Federal Reserve’s October 31-November 1 meeting which showed differing views within the FOMC, casting doubts about the timing of delivery of future rate hikes. Trading activity is relatively thinner today as Japan is closed for Labor Thanksgiving Day and US markets will also be closed for the [..]

Technical Analysis – AUDUSD drops to 5-month lows; bearish outlook stronger

Posted on November 22, 2017 at 7:17 am GMT

AUDUSD has fallen to its lowest level in five months and has turned increasingly bearish after breaking below its 200-day moving average. The slide from the 0.8124 peak is still in progress and shows no sign of reversing yet. The market has retraced over 61.8% of the rise from 0.7328 to 0.8124. The break below the key 0.7600 level has strengthened the bearish outlook. This is now acting as an immediate resistance level. Breaking above it will help ease downside pressure and [..]

Forex Market Review (European Session) – Aussie bounces after RBA Lowe says next rate move is up; Turkish lira hits record low

Posted on November 21, 2017 at 4:26 pm GMT

The aussie overperformed its peers during the European session, posting a strong rebound after the RBA governor ruled out the possibility of expanding stimulus monetary policy. On the other hand, the Turkish lira hit a record low against the greenback after the Turkish president threatened to take control of the Central Bank of the Republic of Turkey (CBRT). Speaking at a dinner event in Sydney, the RBA governor underlined that “there is not a strong case for a near-term adjustment [..]

Stock Market News (European Open) – European stocks head lower, losses limited though; Hang Seng at decade high

Posted on November 21, 2017 at 9:37 am GMT

Equities in Asia were broadly on the rise during today’s trading. The Nikkei 225 and the Topix, which more widely gauges Japanese equity performance, finished the day higher by 0.7% and 0.65% respectively. Hong Kong’s Hang Seng added 1.9%, closing at its highest in a decade, and the Shanghai Composite rose by 0.55%. Australia’s S&P/ASX 200 advanced by 0.3% as RBA minutes pertaining to the central bank’s early November meeting showed policymakers not being confident about rising wage growth and [..]

Forex Market Review (Asian Session) – Euro weakness on political risks supports dollar; aussie down after RBA minutes

Posted on November 21, 2017 at 8:36 am GMT

Trading conditions were thin on Tuesday as economic releases were few, while the US was in a holiday mode ahead of the Thanksgiving Day on Thursday. Japan is also celebrating its Labour Thanksgiving Day on Thursday. The dollar remained steady at one-week high levels during the session as political noise in Germany continued to weigh on the euro. The aussie touched a five-month low after the RBA meeting minutes signalled concerns on subdued wage growth. The euro recouped some of its losses made yesterday in Asia, [..]

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