AUDUSD

Forex News – Australian Q2 GDP growth puts pressure on the aussie

Posted on September 6, 2017 at 10:43 am GMT

A day after the Reserve Bank of Australia decided to hold cash rates at a record low of 1.5% and maintained its optimism about the future economic performance of the country, the Australian Bureau of Statistics (ABS) published the GDP growth figures for the second quarter on Wednesday. These surprised analysts to the downside pushing consequently the aussie down. The Australian economy expanded by 0.8% quarter-on-quarter in the three months to June, 0.5 percentage points higher than in the previous quarter and registering its 26-year consecutive growth [..]

Forex Market Review (Asian Session) – Dollar tumbles as North Korea promises a “gift of packages”; aussie retreats on disappointing GDP growth

Posted on September 6, 2017 at 7:36 am GMT

On Wednesday, markets continued being in a risk-averse mood as a North Korean diplomat warned the day before that more is coming from his country. However, in the US the focus turned to domestic policies, as Fed policymakers are preparing for their next meeting in two weeks’ time. With geopolitical risks in the background, the dollar weakened further following the dovish comments made by the Minneapolis Fed President Neel Kashkari. Meanwhile, the aussie lost steam after the GDP growth data appeared lower than expected. Late on Tuesday, comments by a [..]

Technical Analysis – AUDUSD consolidates below key 0.80 level; maintains neutral to bullish outlook

Posted on September 6, 2017 at 6:17 am GMT

AUDUSD has a neutral to bullish bias in the short-term. The key 0.8000 level has proven to be a strong resistance level and will be quite a challenge to break. Daily momentum indicators such as RSI and MACD are pointing to a neutral outlook. AUDUSD has been trading sideways within a broad range between 0.7890 and 0.8000 since a sharp rebound in mid-August off lows of 0.7807. Lack of upside momentum led to a consolidation phase. A horizontal MACD and [..]

Forex Market Review (European Session) – Dollar drifts lower vs majors amid war risks; aussie, kiwi posts fresh highs

Posted on September 5, 2017 at 3:45 pm GMT

The dollar extended its losses against a basket of major currencies during the European session as US markets returned from holidays, pricing the heightened geopolitical risks as well as the dovish comments from the Fed’s Lael Brainard. While the dollar was losing ground, the aussie and its cousin the kiwi hit fresh highs after the RBA governor Philip Lowe supported that the current monetary policy is appropriate given the risks of the already overloaded household debt. Geopolitical risks continued weighing heavily on [..]

Forex Market Review (Asian Session) – Dollar consolidates; aussie retreats as RBA holds rates at record lows

Posted on September 5, 2017 at 7:53 am GMT

The dollar entered a consolidation phase in Asia as investors remained nervous about North Korea’s possible future nuclear actions, while US markets provided little direction as they were closed for the Labour Day Holiday. Meanwhile, in Australia the RBA decided to keep its monetary policy unchanged, holding cash rates at record lows, but concerns over an appreciating exchange rate pushed the aussie down. Investors preferred to put their money in safe-haven assets during the Asian trading hours and avoid riskier assets as they were worried that [..]

Forex Market Review ( European Session) – Risk-off sentiment pushes dollar down as North Korea said to launch another ballistic missile test

Posted on September 4, 2017 at 3:31 pm GMT

While markets were focused to see whether geopolitical risks would ease later on Monday after North Korea announced its successful test of a powerful weapon on Sunday, risk-off sentiment rose again instead, following rumors that North Korea was preparing for another intercontinental ballistic missile test. The dollar dipped into further losses, unable to find support as US and Canadian markets were closed for the Labor Day holiday. According to South Korea’s central news agency, the North Korean regime was speculated to be planning another intercontinental ballistic missile test into the [..]

Forex Market Review (Asian Session) – Safe-havens gain demand as North Korea fires a hydrogen bomb; Gold tops at 11-month high amid rising geopolitical risks

Posted on September 4, 2017 at 8:07 am GMT

It was another risk-off Monday for investors as North Korea was said to have fired its sixth and most powerful weapon on Sunday, driving the demand for safe-haven assets higher while the US markets were closed for the Labour Day holiday. Gold gained the most, hitting a fresh 11-month high during the Asian trading hours. Yesterday, the North Korean regime announced that it had successfully tested a hydrogen bomb as a response to the US-South-Korean military exercise conducted last week. Although there was no independent verification whether [..]

Week Ahead – Markets look to ECB meeting for euro and tapering guidance; RBA and BoC also meet

Posted on September 1, 2017 at 3:14 pm GMT

Monetary policy will dominate the coming week as the central banks of Australia, Canada, the Eurozone and Sweden hold their scheduled policy meetings. Data wise, the focus will be on trade and industrial output indicators, with a number of countries reporting, including Germany, France and the United Kingdom. However, it will be a slow start to the week with both US and Canadian markets closed on Monday for Labour Day. Important week for aussie with GDP and RBA meeting The [..]

Forex Market Review (Asian session) – Dollar ticks up in Asia ahead of NFP; Aussie weaker ahead of busy week

Posted on September 1, 2017 at 8:00 am GMT

With geopolitical risks remaining in the background and the tropical Storm Harvey devastating the Southern US, the dollar managed to reverse some of yesterday’s losses during the Asian session. Investors were also forming their predictions for the widely expected nonfarm payrolls released later today. The aussie posted short-lived gains during today’s trading after AIG manufacturing index and the Chinese Caixin came in better than expected. Following disappointing inflation and consumer spending readings published on Thursday as well as US Treasury [..]

Forex Market Review (Asian Session) – Dollar extends gains as economic confidence rises; Aussie weaker after CAPEX; Kiwi hits 2 ½ – month low

Posted on August 31, 2017 at 7:46 am GMT

The dollar had a relatively winning battle against its peers overnight, extending its positive momentum after investors restored their confidence in the US economy despite geopolitical risks remaining high and huge damages from the ongoing tropical storm Harvey. On the other hand, the Australian dollar performed poorly, failing to find support on positive economic data, while the Kiwi was the worst performer after figures out of New Zealand came in disappointing. While waters continued rising in southeast Texas and slow-moving [..]

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