AUDUSD

Forex Market Review (European Session) – Euro slips as ECB halves QE but keeps it open ended; dollar firms on reports Yellen is out of Fed race

Posted on October 26, 2017 at 2:54 pm GMT

The euro reversed lower from a near one-week high after the ECB pledged to maintain easy monetary policy even as it announced a reduction in its monthly asset purchases. The single currency slipped back below $1.18, while the US dollar was once again eyeing the 114 yen level amid reports that incumbent Fed chief Janet Yellen was out of the race to lead the central bank. The European Central Bank announced it is extending its asset purchase program (APP) for [..]

Forex Market Review (Asian Session) – ECB in focus; dollar eases in need of fresh catalysts

Posted on October 26, 2017 at 7:49 am GMT

As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week. The dollar index, which measures the strength of the US currency versus the currencies of six major US trading partners, was 0.1% lower at 0737 GMT, falling for a third straight day and moving further below Monday’s three-week high of 94.02. [..]

Forex Market Review (European Session) – Pound rises on GDP, hike speculation; loonie declines on BoC inflation expectations

Posted on October 25, 2017 at 3:07 pm GMT

The British pound was a notable gainer during today’s trading as forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the loonie, aussie and the kiwi and retreating versus the euro, yen and of course sterling. At 1542 GMT, the dollar index, which gauges the greenback against the currencies of six major [..]

Technical Analysis – AUDUSD under pressure; bearish short-term outlook while market trades below 0.80

Posted on October 25, 2017 at 6:23 am GMT

AUDUSD is under pressure and fell for a fourth consecutive day today. The pair has approached a critical area and could close below the 50% Fibonacci retracement level of the uptrend from 0.7328 to 0.8124. The bias is now clearly to the downside and a daily close below 0.7724 (50% Fibonacci) could trigger a deeper decline towards the 200-day moving average at 0.7691 and then to the 61.8% Fibonacci at 0.7632. Additional support is expected at an area of congestion [..]

Forex Market Review (Asian session) – Majors stay in recent ranges; kiwi hit by New Zealand’s coalition government program

Posted on October 24, 2017 at 2:32 pm GMT

Most foreign exchange majors stayed within narrow ranges during today’s Asian session as traders were awaiting key business survey data out of the Eurozone and the United States later in the day. The only big mover was the New Zealand dollar, which continued to post heavy losses as the country was seen getting a coalition government whose policies could have a negative impact on the currency. In particular, the new Labor-led government could push for the Reserve Bank to include [..]

Week Ahead – ECB tapering decision looms; BoC also meets; UK and US GDP eyed

Posted on October 20, 2017 at 4:13 pm GMT

The European Central Bank will take centre stage next week as it announces its long-awaited decision to scale back its asset purchase program. Central banks in Canada, Sweden and Norway will also be holding their monetary policy meetings. On the data front, the first estimate of third quarter growth in the UK and the US will be in focus. Other major data will include Japanese and Australian inflation and Eurozone PMIs. Japan’s Abe’s election gamble likely to pay off Recent [..]

Forex Market Review (Asian Session) – Kiwi sinks as Peters supports Labour Party; aussie slips as China’s growth softens

Posted on October 19, 2017 at 8:07 am GMT

A day after China’s twice-in-a-decade Communist Party Congress commenced, statistics out of China showed that the economy continued to grow above the government’s annual target, giving more confidence on President XiJinping’s leadership. However, the expansion was slightly softer relative to the previous quarter, with the Australian dollar falling slightly in the wake of the data. In New Zealand, the Labour Party looks set to govern the country pushed the kiwi to a near five-month low. According to the National Bureau of Statistics [..]

Forex Market Review (Asian Session) – Eyes on Chinese communist party conference; loonie, Mexican peso jump as NAFTA talks extend

Posted on October 18, 2017 at 7:54 am GMT

Markets turned their focus on China on Wednesday, as China’s President Xi Jinping welcomed the biggest political event in the country, the Communist Party Congress, which plays a key role in the global economy. Meanwhile, the announcement of NAFTA talks extending to next year gave room for improvement to the Canadian dollar and to the Mexican peso. The Chinese President XI Jinping opened the twice-in-a-decade and closed-door Communist Party Congress in Beijing on Wednesday, with investors expecting the leaders of the world’s second-largest economy to announce any policy [..]

Technical Analysis – AUDUSD maintains soft undertone in short-term

Posted on October 18, 2017 at 6:26 am GMT

AUDUSD maintains a soft undertone and the neutral to bearish technical indicators are supporting the bearish view for the short term. The downward move from the 0.8124 peak is still in progress after the recent bounce off 0.7732 reversed back down as prices found resistance at the 50-day moving average. AUDUSD may be forming a lower top at 0.7897 to continue the downtrend. This would be confirmed if prices break below the 50% Fibonacci retracement level of the uptrend from [..]

Forex Market Review (European Session) – Pound tumbles on dovish BoE comments; Fed chair talk drives dollar higher

Posted on October 17, 2017 at 2:37 pm GMT

Sterling took a tumble on Tuesday after Bank of England officials appeared more cautious than anticipated in supporting policy tightening even as UK inflation rose to a 5½-year high in September. The US dollar enjoyed a second day of solid gains as investors speculated that President Trump was considering appointing an inflation hawk as the next head of the US Federal Reserve. The euro meanwhile remained subdued as renewed political risks continued to weigh on the currency. It was a [..]

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