AUDUSD

Daily Market Comment – Powell jolts dollar; yen spikes on Abe resignation

Posted on August 28, 2020 at 8:52 am GMT

Powell sets out Fed’s new approach to inflation and employment Dollar swings wildly as yields plunge and then rally on Fed policy shift Japan’s Abe quits unexpectedly; Tokyo stocks tumble, yen jumps Fed’s new plan stokes inflation expectations As expected, Fed Chair Jerome Powell unveiled on Thursday a big shakeup of how the Federal Reserve conducts monetary policy. The Fed adjusted its objectives for both inflation and employment, moving to a more flexible regime of targeting an average inflation rate [..]

Daily Market Comment – Dollar treads water as all eyes on Powell

Posted on August 27, 2020 at 8:37 am GMT

Markets steady as Powell’s highly anticipated Jackson Hole speech awaited Dollar braces for major dovish tilt by the Fed Aussie and kiwi lead the gainers; loonie seeks further oil boost How dovish can the Fed get? Fed chief Jerome Powell will take centre stage when he updates investors on the Fed’s policy framework review at the annual Jackson Hole conference of central bankers, which has gone virtual this year due to the ongoing pandemic. Powell will deliver his hotly anticipated [..]

Technical Analysis – AUDUSD hovers around 8-month high

Posted on August 27, 2020 at 6:48 am GMT

AUDUSD has been advancing since March 19 but over the last month, it has been moving sideways below the eight-month peak of 0.7275 achieved on August 19. Currently, the pair is developing slightly above the short-term simple moving averages (SMAs) and the stochastic is approaching the overbought territory, however, the MACD is confirming the recent neutral mode and is losing momentum in the positive zone. If there is an attempt above the eight-month peak, immediate resistance would come from the [..]

Australian Q2 data to shed light on virus slump; unlikely to curb strong aussie – Forex News Preview

Posted on August 25, 2020 at 9:58 am GMT

Australia has yet to publish its second quarter GDP reading (due in a week’s time) and there will be two precursors ahead of it: quarterly construction output is out on Wednesday at 01:30 GMT and capital expenditure will hit the markets on Thursday at the same time. The data are almost certainly expected to underscore predictions that the Australian economy entered its first recession in nearly three decades in the first half of 2020. But that may not be enough [..]

Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]

Technical Analysis – AUDUSD retains bullish bias, refuels ascent by driving above MAs

Posted on August 24, 2020 at 1:49 pm GMT

AUDUSD retained potency of its positive structure, prodding back above the congested, gradually rising 50- and 100-period simple moving averages (SMAs) and the Ichimoku cloud, around the 0.7177 – 0.7190 zone. The simple moving averages (SMAs) communicate a steady confidence in the pair with their bullish tone still intact. However, the Ichimoku lines’ calm tone reflects a somewhat stalling behaviour within the pair. Glancing at the short-term oscillators, they suggest some improvement in positive momentum. The MACD, in the negative [..]

Week Ahead – Markets to stay choppy ahead of virtual Jackson Hole symposium

Posted on August 21, 2020 at 12:49 pm GMT

The Federal Reserve will be front and centre next week as traders will be hoping policymakers will provide clearer signals on future monetary stimulus than they did in the FOMC minutes when they hold a virtual gathering of their annual economic symposium. Data out of the United States will constitute the predominant data releases, and coupling that with the Fed event, there can be little doubt the US dollar will be the primary driver of the FX market in an [..]

Daily Market Comment – Dollar gets a second wind after bleak Eurozone PMIs

Posted on August 21, 2020 at 8:49 am GMT

Vaccine news from Pfizer boost sentiment, more records for Nasdaq Dollar can’t find much love amid risk-taking mood But how long can the market ignore Europe’s second wave? Perhaps not long, as the Eurozone’s PMIs provide a reality check Dollar feels the ‘risk on’ blues There’s no love for the US dollar out there. The reserve currency remained on the back foot on Thursday, surrendering some of the gains it posted after the FOMC minutes played down the prospect of [..]

Technical Analysis – AUDUSD retains steady positive tone despite pullback

Posted on August 20, 2020 at 8:23 am GMT

AUDUSD has managed to preserve its five-month progression from the 17½-year low of 0.5506 to the fresh high of 0.7275. The bullish simple moving averages (SMAs) and the positive demeanour of the Ichimoku lines continue to convey optimism in the pair, despite its recent weakening. The technical oscillators mirror the current pullback in the pair displaying the fading in positive momentum. The MACD, in the positive region, is cautiously trailing below the red signal line, while the RSI is waning [..]

Daily Market Comment – Wall Street eclipses all-time high, dollar gets a black eye

Posted on August 19, 2020 at 9:18 am GMT

S&P 500 closes at a new record, powered by slowing US cases and stimulus signals Dollar gets hammered, hits fresh two-year lows Sterling capitalizes most on the dollar’s troubles Today: FOMC minutes and Canadian inflation numbers Mission accomplished: Wall Street at new records There’s no stopping the US equity freight train. The S&P 500 erased all its losses since the pandemic rocked global markets to capture new records, pulling off its quickest ever return to new highs after entering a [..]

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