AUDUSD

Forex Market Review (European Session) – Pound gains on Brexit optimism; euro struggles despite robust economic data

Posted on November 6, 2017 at 4:30 pm GMT

During the European trading hours, the pound outperformed its peers as investors stood optimistic about Brexit developments, while the euro failed to find support on robust economic data out of the eurozone. With Brexit negotiations expected to resume on Thursday, the pound was on track to post gains for the second consecutive trading day supported mainly by encouraging remarks made by the British Prime Minister Theresa May in front of business leaders. May backed a deal on a transitional period crucial for businesses so as not [..]

Forex Market Review (Asian Session) – Dollar vs yen reaches 8-month high as BOJ’s Kuroda favors easy policy; oil pierces 2-year high

Posted on November 6, 2017 at 8:37 am GMT

The dollar managed to hit an 8-month high against the yen on Monday in Asia after the BOJ Governor Haruhiko Kuroda signaled a continuation of the current ultra-easy monetary policy, while persistent confidence on the US economy supported the pair as well. Oil recorded a substantial increase, rising to a two-year high amid tightening markets and as anti-corruption measures took effect in Saudi Arabia. With the economic calendar lacking important data, the dollar index which gauges the dollar’s strength against a basket of major currencies was [..]

Forex News – Preview – RBA meets as aussie retreats; new forecasts eyed

Posted on November 3, 2017 at 4:19 pm GMT

The Reserve Bank of Australia is due to announce its latest policy decision on Tuesday amid a mixed outlook for the economy. Australia’s central bank is almost certain to hold rates unchanged at 1.5% following disappointing inflation and retail sales numbers for the third quarter. Rising household debt has been holding back consumer spending, with anaemic wage growth further restraining households’ spending power. Like in most other advanced economies, a tightening labour market in Australia has done little in lifting [..]

Week Ahead – RBA and RBNZ meetings to headline quiet week

Posted on November 3, 2017 at 2:44 pm GMT

The central bank theme will continue for a third week following the past fortnight’s policy meetings by the ECB, Bank of Japan, Fed and the Bank of England. This time, it will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand. Data-wise, the main focus will be on trade and industrial output figures from China, France, Germany, and the United Kingdom, as well as Chinese inflation numbers. Industrial output and trade data to [..]

Forex Market Review (Asian Session) – Dollar little changed ahead of jobs report; aussie loses ground on weak retail sales

Posted on November 3, 2017 at 8:29 am GMT

As Asian traders were completing this week’s trading, the dollar was not much changed relative to most major counterparts with investors’ attention falling to the US jobs report due at 1230 GMT. At 0818 GMT, the dollar’s index against a basket of currencies was 0.1% higher, trading at 94.79. It yesterday fell to a one-week low of 94.41, perhaps on uncertainty related to US tax reform. Euro/dollar was 0.1% lower and not far below 1.1650. Dollar/yen was flat, a few [..]

Forex Market Review (European Session) – Dollar and pound bolstered by upbeat data ahead of rate decisions

Posted on November 1, 2017 at 3:31 pm GMT

The prevailing risk-on mood ahead of key risk events in the next few days lifted the US dollar and weakened the yen in European trading on Wednesday. Upbeat economic data also boosted the greenback along with the British pound. The aussie and kiwi were other notable gainers, while the euro joined the yen in being the day’s worst performers. Manufacturing PMI out of the UK was the main data release in Europe. The index rose from an upwardly revised 56.0 [..]

Technical Analysis – AUDUSD holds bearish outlook under 200-day MA

Posted on November 1, 2017 at 7:26 am GMT

AUDUSD is under pressure below its 200-day moving average. The market has been reversing the May to September uptrend, retracing over half of this move. The drop below the 50% Fibonacci level of the 0.7328 to 0.8124 upleg last week has strengthened the short-term bearish bias. The market is now consolidating just above Friday’s low of 0.7624 and near the 61.8% Fibonacci level. This is expected to provide support in the near term, while prices are capped by the 200-day MA at 0.7691. [..]

Week Ahead – Fed and BoJ meet but all eyes on BoE; US jobs also in focus

Posted on October 27, 2017 at 3:28 pm GMT

Central bank meetings will dominate the next seven days as the Bank of England, the Bank of Japan and the US Federal Reserve all hold their policy meetings. It will be a big week for economic indicators as well, as the Eurozone releases preliminary GDP figures and the October jobs report is out in the United States. Australian, New Zealand and Canadian data eyed after aussie, kiwi and loonie take a battering Political concerns in Australia and New Zealand have [..]

Forex Market Review (European Session) – Dollar flexes its muscles on GDP beat; euro headwinds on Catalan independence

Posted on October 27, 2017 at 3:00 pm GMT

The dollar was standing broadly higher relative to most other major currencies as US quarterly GDP estimates beat expectations. However, the US currency gave up part of its gains later in the session as, according to a report by Bloomberg, US President Donald Trump is leaning towards Federal Reserve Governor Jerome Powell – a perceived dove – to lead the Federal Reserve after current Fed Chair Janet Yellen’s term expires next year. News of Catalonia declaring independence from Spain during [..]

Forex Market Review (Asian Session) – Dollar stands tall ahead of GDP; euro records 3-month low on “dovish tapering”

Posted on October 27, 2017 at 7:51 am GMT

The US currency stood higher on the day as the Asian session was nearing completion, though barring a development that makes US tax reform more likely, that was mostly due to other majors’ weakness rather than any dollar specific factors. Market participants are awaiting the advance estimate of US third quarter GDP growth which is due at 1230 GMT. The dollar’s index against a basket of currencies was trading 0.3% up on the day, near the day’s high and not [..]

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