AUDUSD

Forex Market Review (Asian Session) – Dollar rallies as US tax reforms head to Senate; pound tumbles to one-month low

Posted on October 6, 2017 at 7:58 am GMT

A stream of upbeat US economic data, as well as the approval of the 2018 fiscal budget in the US on Thursday, boosted the dollar to a 7-week high on Friday ahead of the widely expected nonfarm payrolls due later today. Meanwhile, the pound stretched its downtrend as concerns over May’s leadership continued to weigh on the currency. Late on Thursday, the Republican-led US House of Representatives gave the green light to the 2018 fiscal spending to set the stage for a tax overhaul which is expected [..]

Forex Market Review (European Session) – Pound slides on political worries; euro weaker after ECB minutes

Posted on October 5, 2017 at 3:10 pm GMT

The pound was the worst performing major currency in Thursday’s European session as speculation mounted about whether the UK prime minister would resign. The euro also underperformed as the European Central Bank’s September meeting minutes showed policymakers wanted to maintain a “highly accommodative” monetary policy once tightening gets underway. The US dollar meanwhile was broadly firmer after another batch of solid US data. Fears about the possible resignation of British Prime Minister Theresa May were heightened today following a party [..]

Forex Market Review (Asian session) – Dollar holds strong amid rising economic confidence; aussie tumbles after retail sales shrink

Posted on October 5, 2017 at 8:01 am GMT

On Thursday, the dollar opened higher in the Asian session, gaining from investors’ increasing confidence on the US economy, while its Australian counterpart fell sharply after underpaid consumers tightened their spending, driving retail sales to the lowest level in five years. The dollar index moved from yesterday’s closing price of 93.28 to a high of 93.37 in Asia before it slipped back as upbeat US non-manufacturing data released on Thursday continued to support the dollar against its rivals and the Fed chair Janet Yellen failed to give any [..]

Technical Analysis – AUDUSD maintains neutral bias in the medium term; market stabilized after short-term bearish phase

Posted on October 4, 2017 at 6:16 am GMT

AUDUSD maintains a neutral bias in the medium term and has shown signs of stabilization after a recent decline. The pair has been trading sideways within a range of 0.7817 and 0.8124 since July. The recent bearish phase has stalled and suggests that the decline could be more of a corrective move of the rally to the highest level since May 2015 rather than a change in the broader bullish trend. Strong support was found at 0.7817, which is the [..]

Forex Market Review (European Session) – Dollar retreats as investors take profits; euro rebounds

Posted on October 3, 2017 at 3:05 pm GMT

The dollar pared earlier gains during the European trading hours as investors were engaging in profit-taking, while the euro managed to rebound despite political uncertainty remaining in the background. The dollar index retreated from the 1 ½-month high of 93.92, falling to 93.45 before the session-end as investors were locking in gains ahead of the nonfarm payrolls report to be released on Friday. Investors though seem to remain confident on the US economic environment and Trump’s tax policy which aims to deliver large tax cuts to businesses. The pound [..]

Forex Market Review (Asian Session) – Dollar bulls in charge on improved US economic outlook; aussie down after RBA policy meeting

Posted on October 3, 2017 at 7:36 am GMT

On Tuesday, rising economic prospects in the US kicked the dollar higher to a 1 ½-month high against its major rivals during Asian trading, while a steady monetary policy and an unchanged economic outlook as indicated overnight by RBA policymakers sent the aussie down to a two-month low. The spot dollar index stretched its uptrend during the Asian session, reaching a fresh 1 ½-month high of 93.92 as confidence in the US economic environment was enhanced after the release of upbeat manufacturing PMI readings on Monday and the Fed retained its [..]

Forex Market Review (European Session) – Dollar strengthens after manufacturing PMI beat; pound hits three-week low as manufacturing industry slows

Posted on October 2, 2017 at 3:23 pm GMT

The dollar continued its rally during the European session and managed to peak at a two-week high against its major peers following upbeat manufacturing PMI releases, although a music festival in Las Vegas turned into the deadliest mass shooting in US history. However, gains from positive data were short-lived following dovish remarks by the Minneapolis Fed President Neel Kashkari. The UK manufacturing PMI numbers failed to provide support to the pound, which was one of the worst performing currencies relative to the dollar during the day, hitting [..]

Forex Market Review (Asian Session) – Euro dips into losses after violent Catalan independence vote; dollar gains

Posted on October 2, 2017 at 8:04 am GMT

With markets in China, South Korea, Hong Kong and India being closed for public holidays, the dollar managed to recover from earlier losses against its peers in Asia – helped by higher US Treasury yields – while the euro recorded a downtrend in the wake of a political crisis in Spain. The dollar posted gains versus a basket of major currencies during the Asian session on the back of higher US Treasury yields, with the dollar index rising by 0.40% on the day to 93.26. [..]

Week Ahead – US jobs report and ISM PMIs eyed as dollar rallies again; RBA meets

Posted on September 29, 2017 at 3:08 pm GMT

The US dollar just had its most positive week of 2017, driven by firming expectations of a December rate hike. Data out of the US next week will therefore be watched very carefully for further evidence supporting this view. Also coming under the limelight next week is the Reserve Bank of Australia, which meets for a scheduled monetary policy meeting, while Canadian employment figures, ECB meeting minutes, UK PMIs and the Bank of Japan’s Tankan survey will too be watched [..]

Forex Market Review (Asian Session) – Dollar steady as uncertainties on tax reforms weigh; focus on inflation

Posted on September 29, 2017 at 8:09 am GMT

On Friday, currencies in Asia were in a quiet trade, with the dollar moving sideways near yesterday’s lows as positive sentiment on Trump’s tax proposals was fading and investors were less certain on whether those would pass in Congress. However, the focus during the day will be on the US inflation readings which might affect the Fed’s views on future monetary policy if they come in as a surprise. Although the US tax cuts proposed by the Trump administration raised confidence initially on the country’s fiscal policy, investors were less [..]

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