AUDUSD

Forex Market Review (European Session) – Sterling performs worst among majors on added cloud of uncertainty; dollar higher

Posted on November 13, 2017 at 3:37 pm GMT

In the absence of major economic releases during today’s European session trading, forex markets were focused on upcoming data, a central banking conference set to take place tomorrow and developments on the political front, in particular Brexit and the US tax reform. Sterling was the worst performing major currency. The dollar’s index against a basket of currencies was 0.1% higher at 1520 GMT. On Friday, it hit 94.26, its lowest since October 26 as developments on the US tax front [..]

Forex Market Review (Asian Session) – Pound down as May faces political noise; dollar rebounds but tax uncertainties weigh

Posted on November 13, 2017 at 8:45 am GMT

Forex markets were relatively quiet on Monday as economic releases were limited. However, political challenges in the UK during the weekend, pressured the pound, while the dollar managed to gain ground as investors were widely expecting a third Fed rate hike despite continuing uncertainties around the US tax overhaul lingering in the background. An article published in the Sunday Times over the weekend reported that forty parliament members from the Conservative Party agreed to sign a letter expressing their reluctance on Prime Minister Theresa May’s leadership -eight more members would be [..]

Forex Market Review (European Session) –Dollar drifts lower; pound heads up as Barnier sets a deadline on divorce bill

Posted on November 10, 2017 at 4:00 pm GMT

The dollar was on track to finish the week in the red against its major counterparts after three weeks of rising as uncertainties around the US tax overhaul continued weighing on the markets and disappointing readings on the Michigan Consumer sentiment also pressured the dollar. On the other hand, the pound was the biggest winner during the European session as Brexit talks did not conclude bitterly, with the EU Brexit negotiator setting a deadline for the UK to clarify its financial obligations, while upbeat industrial [..]

Week Ahead – Inflation, jobs and retail sales in focus; Japanese GDP also eyed

Posted on November 10, 2017 at 2:38 pm GMT

Economic data will move to the forefront next week as the focus moves away from central bank meetings to price, employment and consumer spending indicators. Canada, the Eurozone, the UK and the US all release CPI numbers. Jobs reports are due from Australia and the UK, and retail sales figures will be published in China, the UK and the US. GDP data will also attract attention as investors get the first glimpse of third quarter economic performance in Japan. Australian [..]

Forex Market Review (Asian Session) – Dollar weakens as Senate delays tax-cuts; aussie slips after RBA cuts inflation forecasts

Posted on November 10, 2017 at 8:53 am GMT

US tax legislation was the main headline during today’s Asian session after the US Senate flagged a delay in corporate tax cuts on Thursday, pushing the dollar lower against its counterparts. Meanwhile, the aussie posted moderate losses after the RBA downgraded its forecasts on inflation. While the US President continues his trip in Asia, his team back in the US faces increasing obstacles to turn the promised massive tax cuts – that could be Trump’s first major legislative achievement since he took the presidential role in January – into law. Late on Thursday, [..]

Forex Market Review (Asian Session) – Kiwi rallies as RBNZ signals faster inflation; aussie climbs on Chinese inflation

Posted on November 9, 2017 at 8:33 am GMT

The kiwi recorded a strong rebound on late Wednesday, flying to a two-week high after the RBNZ left rates unchanged but raised expectations that future hikes might emerge earlier than anticipated. The aussie posted some gains early on Thursday as China, Australia’s main export partner, released stronger than projected annual CPI figures. As it was mainly expected, the RBNZ policymakers decided to keep rates steady at a record low level of 1.75%. However, what pushed the kiwi higher was a statement highlighting that [..]

Technical Analysis – AUDUSD shifts from bearish to neutral in the short-term

Posted on November 8, 2017 at 7:22 am GMT

AUDUSD has shifted from bearish to neutral in the short-term as it continues to trade in a range since October 26 after breaking below the 200-day moving average. Risk is tilted to the downside as AUDUSD has retraced more than half of the upleg from 0.7328 to 0.8124. The pair is now trapped between the 50% and 61.8% Fibonacci levels, with resistance at 0.7723 and support at 0.7631. MACD remains in bearish territory and is sloping down, suggesting there is [..]

Forex Market Review (European Session) – Dollar holds strong despite Fitch raising debt ratio forecasts; euro dips further

Posted on November 7, 2017 at 4:38 pm GMT

Expectations that the Fed will proceed with a rate hike in December and an encouraging report on JOLTS job openings pushed the dollar higher during European trading hours, although Fitch raised its US medium-term debt-to-GDP forecasts. On the other hand, the euro was unable to find support on better-than-expected retail sales figures and despite the news that some key ECB officials opposed the central bank’s decision to continue buying assets until inflation improves. Fitch said on Tuesday that it expects a version of tax plans to pass the US Congress and push [..]

Stock Market News (European Open) – DAX records fresh record high, boosted by weaker euro; Nikkei at highest since 1992

Posted on November 7, 2017 at 10:14 am GMT

Bullish sentiment was strong in Asian markets today with major indices closing at multi-year highs. The Nikkei 225 and the Topix, Japan’s broader gauge of equity performance, added 1.7% and 1.2% to finish at their highest since early 1992 and early 2007 respectively. The Nikkei is now eyeing the 23,000 mark. The two benchmarks were boosted by positive corporate results and a weakening dollar/yen pair as component stocks’ revenues are heavily dependent on exports. Hong Kong’s Hang Seng rose by [..]

Forex Market Review (Asian Session) – Aussie gains little after RBA leaves rates unchanged; kiwi climbs on currency policy relief

Posted on November 7, 2017 at 8:33 am GMT

Early on Tuesday, the RBA decided to hold interest rates steady at record low levels, retaining its confidence on economic growth and the labour market. The aussie, however, posted short-lived gains following the policy statement as weak inflation continued to worry policymakers. Meanwhile, in New Zealand, the Finance Minister said that targeting the currency was not the new government’s monetary goal, lifting the kiwi higher for a while. In the wake of the RBA decision to keep rates at 1.5%, the aussie was [..]

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