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AUDUSD

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Forex News – Aussie pulls back on softer growth in Australian consumer prices

Posted on July 26, 2017 at 9:27 am GMT

The aussie weakened in the middle of Asian trading as statistics out of Australia indicated that consumer prices experienced a surprisingly softer increase in the June quarter, justifying the RBA’s last decision to hold interest rates steady and lengthening the odds for another rate hike. On Wednesday, in the middle of the Asian session, the Australia Bureau of Statistics published CPI readings for the second quarter of the year. According to the numbers, headline CPI grew by 0.2% on a [..]

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Forex Market Review (Asian Session) – Dollar gains ground ahead of FOMC; aussie suffers on softer inflation

Posted on July 26, 2017 at 7:43 am GMT

Inflation figures out of Australia were today’s main data release during Asian session trading. The softer than expected data led to the aussie posting losses. Beyond that, the dollar index seems to be maintaining some positive momentum following yesterday’s upbeat consumer confidence report. The dollar’s index against a basket of currencies was up 0.2% as Asian traders were about to complete their trading day. It stood above the 94 mark, but not far above 93.64, the 13-month low reached yesterday. [..]

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Forex Market Review (Asian Session) – Dollar softens ahead of FOMC meeting; Saudi Arabia helps push oil prices up

Posted on July 25, 2017 at 7:27 am GMT

During the Asian session, forex markets didn’t have much to react to in the absence of important economic releases. Hence, yesterday’s events along with the upcoming two-day US Federal Open Market Committee meeting that starts today have been commanding most of the moves today. The US dollar weakened against most currencies as investors await the news from the two-day FOMC meeting on interest rate policy that starts later today. Many investors expect the Federal Reserve to announce that it will begin [..]

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Technical Analysis – AUDUSD turns neutral after pausing rally

Posted on July 24, 2017 at 8:03 am GMT

AUDUSD rose to a high of 0.7987 on July 20 before steadying. The pause in the rally suggests that a temporary top is now in place as the market lost upside momentum. Looking at the 4-hour chart, the weakening in momentum is indicated by the RSI which fell after reaching overbought levels above 70. The near-term bias has turned neutral for consolidation. Support is provided at 0.7890, which is the 23.6% Fibonacci retracement level of the rise from 0.7571 to [..]

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Forex Market Review (Asian Session) – Dollar weighed by political woes, close to 13-month low; aussie gains

Posted on July 24, 2017 at 7:42 am GMT

As Asian traders were about to complete their trading day, the dollar index was up on the day after previously hitting a fresh 13-month low. Excluding aussie/dollar, most major pairs were moving within a relatively narrow range during Asian trading hours, while gold was down after recording a one-month high. The dollar’s index against a basket of major currencies fell to 93.82 today – it’s lowest since June 24 of last year. It later managed to recover to last trade [..]

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Week Ahead – FOMC meeting and Q2 GDP data in focus; Eurozone PMIs also eyed

Posted on July 21, 2017 at 3:50 pm GMT

The Federal Reserve meets next week for a scheduled policy meeting but with no change in rates expected, the focus will likely fall on the balance sheet reduction plan. Data-wise, second quarter GDP estimates will be watched for France, the United Kingdom and the United States. Japanese and Australian inflation data will also be important, while flash PMIs for the Eurozone and the US should give the first glimpse on economic activity in July. Eurozone PMIs Starting the week on [..]

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Aussie tumbles on Deputy Governor’s dovish speech; US dollar weak on political woes

Posted on July 21, 2017 at 7:15 am GMT

The Australian dollar tumbled amid a dovish speech by Reserve Bank of Australia Deputy Governor Guy Debelle. The US dollar remained under pressure against most majors following the plunge yesterday when news broke out about expansion of an investigation into Trump’s links with Russia. The aussie fell to $0.7907 during Asian trading as the RBA Deputy Governor said that no importance should be given to the board’s discussion around the neutral rate and that it doesn’t imply monetary policy tightening. [..]

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