AUDUSD

Forex Market Review (European Session) – Euro fails to rebound after Draghi’s dovish words; pound gains on Brexit hopes

Posted on November 20, 2017 at 4:22 pm GMT

Political noise in Germany continued to draw markets’ attention during the European trading hours as the economic calendar was lacking major releases and any progress on the US tax reforms was expected only after the Thanksgiving holidays. The euro was on track to erase losses made in the previous session but dovish remarks by the ECB President pressured the currency. The dollar was in the green during the session while the pound drifter higher as hopes on Brexit negotiations moving [..]

Forex Market Review (Asian Session) – Euro drifts lower as German elections loom; dollar recovers despite tax risks

Posted on November 20, 2017 at 8:57 am GMT

The euro was the worst performer among its major peers on Monday after German negotiations to form a coalition government broke down during the weekend. Consequently, the dollar index jumped on the news, but the yen might attract investors’ attention this week as the future of the US tax overhaul is still unclear. The German Chancellor, Angela Merkel, failed to meet the second deadline to form a three-way coalition government during the weekend after the liberal FDP party announced on late Sunday that it would pull [..]

Week Ahead – Flash PMIs, FOMC and ECB minutes, and UK budget among highlights in muted Thanksgiving week

Posted on November 17, 2017 at 2:22 pm GMT

With few exciting data releases on the calendar next week, attention will likely drift to central bank speeches and meeting minutes, developments on the US tax reform front and the UK Autumn budget. RBA, ECB and Fed publish their minutes Three central banks will release the minutes of their recent monetary policy meetings: the Reserve Bank of Australia, the European Central Bank and the Federal Reserve. The RBA is up first on Tuesday with the minutes of its November 7 [..]

Special Report – Chinese debt potentially raising dark clouds on the horizon – analogies to Japan; who stands to lose the most?

Posted on November 17, 2017 at 12:12 pm GMT

International organizations including the International Monetary Fund and the World Bank have been warning of dangerous debt levels in China. A debt crisis in the world’s second largest economy might seem like a frightening prospect for the rest of the world, however a closer look reveals that under the current state of affairs, one such crisis would mostly be of serious detriment to nations whose exports are heavily directed towards China, one such nation being major commodity exporter Australia. Not [..]

Forex Market Review (Asian Session) – Dollar stuck in a tax trap; aussie gains little on employment data

Posted on November 16, 2017 at 8:44 am GMT

Weakened prospects on the US tax reforms continued restricting the dollar’s gains in Asia despite Wednesday’s encouraging data cementing a third-rate hike this year, while a mixed employment report in Australia did little to support the aussie. On Wednesday, two Senate Republicans expressed their opposition to the tax plan, claiming that they would not support a plan which favours corporations over other enterprises including small companies. Particularly the new version produced on Tuesday aims to activate permanent tax cuts for corporations and only temporary tax cuts [..]

Aussie again on spotlight as employment figures eyed – Forex News Preview

Posted on November 15, 2017 at 4:23 pm GMT

Following a disappointing report on Australian wage growth on Wednesday, the Australian Bureau of Statistics is due to give an outline on the state of the labor market at 0030GMT on Thursday. Unlike wage forecasts which projected a rise in earnings, analysts anticipate the economy to create fewer jobs in October, maintaining the unemployment and participation rates steady at their previous levels. If the numbers fail to meet expectations or otherwise fail to impress, then the aussie could get another shake tomorrow as a slow-growing jobs market would keep wage growth subdued for longer, harming household spending [..]

Forex Market Review (Asian Session) – Dollar struggles ahead of inflation figures; aussie takes a knock after wage data

Posted on November 15, 2017 at 8:43 am GMT

On Wednesday, the dollar performed poorly relative to its major counterparts in Asia, failing to recover on the back of a stronger euro and on continued concerns on the future of the US tax overhaul. Its Australian peer, however, was the worst performer during the session, as wage growth readings out of the country missed expectations. The dollar index, which gauges the dollar’s strength against six major currencies hovered around a three-week low of 93.56 (-0.25%) after stronger-than-expected GDP growth readings released [..]

Technical Analysis – AUDUSD extends decline; bearish outlook now stronger

Posted on November 15, 2017 at 7:17 am GMT

AUDUSD is in a bearish phase as it extends its decline from the multi-year peak of 0.8124. The pair is now testing its lowest level since July. The bearish outlook was strengthened after prices fell below the 200-day moving average. Key support failed at the 61.8% Fibonacci retracement level (0.7630) of the upleg from 0.7328 to 0.8124. This level has now turned to immediate resistance. Indicators like RSI and MACD are in bearish territory although looking neutral at the moment, [..]

Forex Market Review (European Session) – Euro jumps to 3-week high on upbeat GDP; pound slips on inflation miss

Posted on November 14, 2017 at 3:40 pm GMT

The euro enjoyed its strongest daily gain in a month as upbeat GDP numbers out of Europe lifted sentiment for the region. The pound came under pressure though after UK inflation missed expectations, while the US dollar remained below session highs despite US producer prices rising more than anticipated. Stronger-than-expected growth in Europe’s largest economy during the third quarter set the tone for today’s European session as investors were once again drawn to the improving outlook for the region. German [..]

Forex Market Review (Asian Session) – Pound slides as UK parliament votes on Brexit bill; aussie bounces on business confidence

Posted on November 14, 2017 at 8:56 am GMT

Ahead of a busy day in terms of economic data out of the UK, the US and the Eurozone, the pound moved lower as doubts over May’s leadership continued weighing on the currency, while markets were also cautious whether British lawmakers would approve the government’s Brexit bill. The aussie was the biggest winner of the session, gaining on business confidence despite disappointing figures out of China pressuring the currency. With the UK Prime Minister Theresa May facing increasing political challenges following a report published by the Sunday Times newspaper and stating that [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms