AUDUSD

Forex Market Review (Asian Session) – Dollar surges on Trump’s tax proposals; kiwi down after RBNZ releases monetary statement

Posted on September 28, 2017 at 8:06 am GMT

In a data-quiet session, the dollar managed to extend yesterday’s gains in Asia after the US President, Donald Trump, revealed his plans on tax reforms a day before. Meanwhile, markets were scanning the RBNZ statement released after the central bank decided to hold rates steady, with the kiwi dipping into losses after the new RBNZ Governor signaled that a weaker currency was needed. Trump unveiled late on Wednesday in Indianapolis the tax plan outline prepared by White House members and his Republican counterparts that is dubbed as the biggest US tax reform in three decades. The plan [..]

Forex Market Review (European Session) – Dollar rallies on hopes of tax reforms; eyes on RBNZ

Posted on September 27, 2017 at 3:13 pm GMT

Hawkish remarks by Fed Chair Yellen on Tuesday continued supporting the dollar against its major rivals during European trading as markets were more confident now that the Fed would deliver another rate hike in December. Investors were also cautious to hear whether the US tax overhaul plan announced later today would be Trump’s first major legislative achievement since his election, a day after his proposals to repeal Obamacare failed to pass yet again. The dollar index breached again the 93 key level during the European session, last trading at [..]

Forex Market Review (Asian Session) – Dollar stronger on hawkish Yellen but eyes on tax plans; kiwi weak ahead of RBNZ meeting

Posted on September 27, 2017 at 8:00 am GMT

Fed Chair Janet Yellen, held a hawkish stance on the Fed’s rate path on Tuesday, boosting the dollar to a fresh one-month high against a basket of major currencies. On Wednesday, dollar sentiment is expected to be positive as markets anticipate the Congress to welcome Republicans’ tax plans after Senate Republicans failed again to replace Obamacare. Meanwhile, the focus will be also on the policy meeting held by the Reserve Bank of New Zealand (RBNZ) later today. The dollar index stood tall at a fresh one-month [..]

Technical Analysis – AUDUSD turns bearish after dropping below 50-day moving average

Posted on September 27, 2017 at 6:24 am GMT

AUDUSD is turning bearish this week after shifting from a consolidation phase around the key 0.8000 level. After a brief pause, downward momentum resumed once the pair broke below the 50-day moving average at 0.7947. The medium-term bullish trend from May to September is at risk should prices extend lower. The short-term bias is now bearish based on the RSI dropping below 50 and thereby giving a bearish signal. The first target is the mid-August low at 0.7807. Failure to recover [..]

Forex Market Review (European Session) – Dollar index hits one-month high ahead of Yellen’s speech; euro sinks to one-month low

Posted on September 26, 2017 at 3:16 pm GMT

The European forex markets on Tuesday continued digesting political uncertainties arising from the German elections, kicking the euro to a one-month low. The dollar, on the other hand, stood tall at a one-month high ahead of Fed Chair Janet Yellen’s speech later today despite US-North Korea war tensions becoming dangerous as fiscal policy came to the spotlight. The dollar extended its uptrend against a basket of major currencies despite escalating North Korean tensions as focus turned to fiscal policy. Sources familiar [..]

Forex Market Review (Asian Session) – Safe havens gain ground as Pyongyang threatens to shoot down US jets; oil hits fresh highs

Posted on September 26, 2017 at 8:08 am GMT

Geopolitical uncertainties became dangerous late on Monday giving a boost to safe havens during Tuesday’s Asian session. The North Korean Foreign Minister Ri Yong Ho used a stronger language against the US, saying that Trump’s recent comments were a declaration of war on the Korean peninsula and the regime has the right to shoot down US bombers even if they fly outside the regime’s airspace. A few hours later the White House spokeswoman Sarah Sanders denied that the US has declared war on North Korea, while the National Security Adviser H.R McMaster argued [..]

Forex Market Review (European Session) – Markets digest Fed message as dollar corrects; aussie drops on Chinese downgrade

Posted on September 21, 2017 at 2:47 pm GMT

The US dollar gave back some of its gains versus its major counterparts such as the euro, the yen and the British pound after the Fed signaled the previous day it was planning to raise interest rates one more time this year. The Fed also announced that in October it would start to slowly roll back some of the stimulus it injected in the form of Quantitative Easing; the first major central bank to do so since the financial crisis [..]

Forex Market Review (Asian Session) – Dollar eases ahead of FOMC decision; oil up after Iraq says to cut oil supply

Posted on September 20, 2017 at 7:56 am GMT

While geopolitical tensions escalated after the US President used stronger language against North Korea at his first speech in front of global leaders at the UN on Tuesday, the dollar showed relatively little reaction slipping near its two-year lows. Markets instead were more cautious about the FOMC decision to be announced later today, while they were also looking forward to the BOJ policy meeting scheduled for Thursday. Meanwhile, oil prices headed higher after OPEC member Iraq said it would take further action to limit its supply. The dollar index was [..]

Technical Analysis – AUDUSD neutral to bullish; rally stalls around key 0.8000 level

Posted on September 20, 2017 at 6:20 am GMT

AUDUSD is neutral to bullish and is pivoting around the key psychological level at 0.8000 after hitting its highest level since May 2015 at 0.8124. The RSI and MACD oscillators are flat, indicating a loss in upside momentum. This suggests that the market has put in a short-term top after the subsequent slide from this September 8 high. Sideways trading is expected in the near term within a range of 0.7934 and 0.8057. Strong support is expected at 0.7934 as [..]

Forex Market Review (Asian Session) – Dollar climbs vs yen ahead of FOMC; pound loses ground after Carney speaks on rates and Brexit

Posted on September 19, 2017 at 8:06 am GMT

On Tuesday, the dollar hit a fresh eight-week high against the yen in Asia with investors widely expecting the Fed policymakers to announce the start of monetary tightening later this year in their two-day meeting that concludes on Wednesday. Its British counterpart was in an uptrend as well following a deep fall on Monday after the BOE Governor, Mark Carney, talked down the country’s post-Brexit trade prospects and argued that rates should rise moderately, giving no clues on when the [..]

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