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AUDUSD

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Forex Market Review (Asian Session) – Aussie gains on strong business conditions; dollar strength unfolds; oil up slightly

Posted on July 11, 2017 at 7:34 am GMT

As the Asian markets were about to close for the day, the dollar continued strengthening against the yen and the euro. The Australian dollar rose for the day on strong business conditions, while pressure on oil eased, as commodity prices showed some gains. The Australian dollar was among the rare gainers against the greenback during the Asian trading session. Supported by the newest data pointing to strong business conditions, the aussie climbed to $0.7623 ahead of the European open. Australian [..]

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Forex Market Review (Asian Session) – Fed split opinions weaken dollar short-term; euro under pressure

Posted on July 6, 2017 at 7:42 am GMT

The US dollar had weakened against the yen during the early Asian trading session on the mixed tone from the minutes of the Fed’s latest meeting. However, the greenback gathered strength as the yen gave up gains ahead of the European open. Australia’s trade surplus lent some short-lived gains to the aussie. Minutes from the Fed’s latest meeting in June, at which the US central bank voted to raise interest rates, showed an absence of consensus about when to start the [..]

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Forex Market Review (Asian Session) – US dollar steady ahead of Fed minutes; euro, sterling modestly up

Posted on July 5, 2017 at 7:56 am GMT

Following yesterday’s low trading activity during the US session amid the 4th of July holiday in the US, not much data has been released during today’s Asian session either. Both, the euro and sterling modestly gained against the dollar. Looking at commodities, both oil prices and gold were up. The Australian dollar retraced some of yesterday’s losses, last trading at $0.7614, after tumbling on Tuesday as a result of the Reserve Bank of Australia’s decision to maintain a neutral policy [..]

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Technical Analysis – AUDUSD makes corrective move lower after bullish run

Posted on July 5, 2017 at 6:47 am GMT

AUDUSD is making a corrective move lower after rising from 0.7328 to 0.7711. This pullback is not surprising after such a strong rally that brought the market to overbought conditions, as indicated by the RSI being at 70 at the end of June when the market peaked. It remains to be seen whether this move lower is a temporary correction of the May 9 to June 30 uptrend. A sustained downside move is not expected and for now there is [..]

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Forex Market Review (European Session) – Praet keeps euro down while safe havens benefit from North Korean missile test

Posted on July 4, 2017 at 2:31 pm GMT

It was a relatively quiet forex trading session for Europe on Tuesday, as the 4th of July holiday in the US brought down volumes and overall activity. The main news of the day was the test of a long-range missile by North Korea, which led investors to seek the safety of havens such as the yen and gold.  The gains by both the yen and gold were relatively modest however, suggesting that the North Korean action did not unsettle investors [..]

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Forex news – Aussie falls as RBA maintains benchmark rate at record low

Posted on July 4, 2017 at 11:04 am GMT

As expected by market participants, the Reserve Bank of Australia (RBA) today decided to keep rates unchanged at the historical low level of 1.5%. This comes at a time when major central banks around the world are either normalizing rates or are signalling that they’re getting closer to start tightening their respective monetary policies. The RBA’s decision followed the release of the Australian retail sales data, which were published a few hours earlier. The figures showed retail sales growing by [..]

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Forex Market Review (Asian Session) – Aussie under pressure; geopolitical concerns lift yen

Posted on July 4, 2017 at 7:45 am GMT

The Australian dollar came under pressure against the greenback on the unchanged cash rate by the Reserve Bank of Australia. Meanwhile, the yen got a lift amid geopolitical concerns induced by another North Korea missile test. The euro and sterling were broadly steady against the US dollar. The RBA left its cash rate unchanged at a historic low of 1.5% during its policy meeting earlier today. While this was widely expected by the markets, the aussie was under pressure against [..]

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