AUDUSD

Forex Market Review (Asian Session) – Dollar in doldrums ahead of NFP data; most other majors and gold firm up

Posted on August 4, 2017 at 7:14 am GMT

The greenback had yet another setback overnight ahead of the eagerly-anticipated non-farm payrolls data out today. Following yesterday’s disappointing ISM non-manufacturing PMI, the dollar slid on an alleged grand jury issuance of subpoenas about a June 2016 meeting President Trump’s son and his son-in-law held with a Russian lawyer. The dollar index weakened about a tenth-of-a-percent to last trade at 92.74. In Asia, forex markets had a mixed reaction against the dollar. The yen and the aussie firmed up against the greenback, [..]

Forex Market Review (Asian Session) – Sterling gains ahead of BOE, Trump approves Russia sanctions, US-China trade at risk

Posted on August 3, 2017 at 7:41 am GMT

Markets have been relatively quiet during the Asian session with only a couple of notable economic data releases, which haven’t caused significant moves in the forex market. Looking ahead, the key event of the day will be Bank of England Governor Mark Carney’s speech and the central bank’s decision on interest rates. Out of Asia, China’s Caixin services PMI and Australia’s balance of trade were the two main economic releases. The services PMI inched down to 51.5 in July from [..]

Forex Market Review (Asian Session) – Asian currencies weaken against dollar as euro, sterling firm up; oil under pressure

Posted on August 2, 2017 at 7:26 am GMT

As traders in Europe were about to start the day, the dollar managed to retrace some of its losses against Asian currencies. However, the dollar index was moderately down at 93.01 as the euro and sterling strengthened. A weak labor market drove the New Zealand dollar lower during the Asian session, as the figures curbed the possibility of a shift in the central bank’s neutral guidance on monetary policy. Change in employment fell 0.2% in the second quarter, faring worse than the expected 0.7% expansion and well [..]

Forex news – Aussie breaks above $0.80 but loses ground after RBA keeps rates on hold

Posted on August 1, 2017 at 10:52 am GMT

Early on Tuesday, the Australian dollar picked up following the upbeat Chinese PMI data, but a few hours later the RBA’s decision to maintain its monetary policy on hold over concerns of a rising exchange rate drove the currency lower. As expected, RBA policymakers held interest rates steady on Tuesday at a record low of 1.5% at their August meeting, with rates being unchanged for almost a year now. Despite the bank’s forecasts about Australian economic growth remaining optimistic, as employment opportunities, consumer confidence, and business conditions are continuously improving, RBA members are worried about the [..]

Forex News – Aussie little moved after soft Chinese PMI and mixed Australian data

Posted on July 31, 2017 at 9:29 am GMT

Data out of China on Monday showed that both manufacturing and service sectors’ activity slowed down unexpectedly in July, but remained above the expansionary threshold. However, the aussie did not show any significant reaction to Chinese data as Australian private housing credit in June surprised analysts to the upside while new home sales for the same month plummeted. The China Logistic Information Centre released on Monday its estimates on Chinese manufacturing and non-manufacturing Purchasing Managers indexes (PMI) for the month of July. According to the numbers, Chinese manufacturing PMI slipped by 0.3 points in July to 51.4, [..]

Technical Analysis – AUDUSD shifts to neutral after rally to 2-year high

Posted on July 31, 2017 at 8:19 am GMT

AUDUSD has a neutral bias after pausing a rally that took the pair to a high of 0.8065 on July 27. This is the highest level since May 2015. The underlying market structure is bullish after a sharp rise from the July 7 low of 0.7571. Looking at the 4-hour chart, upside momentum has faded as indicated by the flat RSI. Consequently, AUDUSD is trading sideways within a range. The key psychological level at 0.8000 is now a strong resistance [..]

Forex Market Review (Asian Session) – Top world economies expand, but arising geopolitical risks take stage in forex markets

Posted on July 31, 2017 at 7:52 am GMT

The US dollar gained during the Asian session, with the dollar index up 0.20% to last trade at 93.44. The session was busy with ample of data from Asian economies signaling economic expansion. The euro and sterling declined against the US currency. Oil prices rose while gold gave up on some of Friday’s significant gains. Data signalling the latest economic activity in China was the main news of the day. While activity in the world’s second largest economy continued to [..]

Week Ahead – All eyes on NFP after dovish FOMC; RBA and BoE to hold rates

Posted on July 28, 2017 at 3:22 pm GMT

Key data out of the United States next week may provide the struggling dollar some boost after the Fed struck a less hawkish tone at the July policy meeting. The latest non-farm payrolls numbers will be the most keenly watched indicators of the week but central bank meetings in Australia and the UK will also be in focus. In other data, the preliminary flash GDP estimates for the Eurozone will be eyed too. RBA meets as aussie soars above $0.80 [..]

Investment Theme – Dovish Fed spurs commodity prices and currencies higher

Posted on July 27, 2017 at 4:19 pm GMT

Commodity currencies are looking at their most bullish since 2015 after the Federal Reserve struck a dovish tone on inflation at its latest monetary policy meeting yesterday, lifting the price of risk assets, including those of commodities. Commodity prices have already been on the up during the past month, boosted in part by growing demand from China – the world’s biggest consumer of commodities. This uptrend has helped drive commodity-linked currencies such as the Canadian, Australian and New Zealand dollars [..]

Forex Market Review (Asian Session) – Fed’s inflation concern weakens dollar; aussie, kiwi at two-year high

Posted on July 27, 2017 at 7:47 am GMT

It was a relatively quiet data day in forex markets prompting traders to dwell over yesterday’s events, namely the Federal Open Market Committee (FOMC) meeting. As a result of the Federal Reserve’s dovish tone, the weakness in the US dollar unfolded, with the dollar index hitting a fresh 13-month low. The Australian and New Zealand dollars jumped to two-year highs as traders sold off the greenback. The Fed confirmed market anticipations of the federal funds rate remaining at the same target [..]

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