AUDUSD

Technical Analysis – AUDUSD hits fresh 2-week high; surpasses the 0.75 handle

Posted on June 6, 2017 at 1:44 pm GMT

AUDUSD is currently up from the day’s open, rising above the 50-day moving average (MA) and setting a new two-week high of 0.7515. The short-term picture as depicted by the RSI is looking bullish as the indicator is above its 50 neutral-perceived level at 57. Note though that the indicator is not as steeply sloped as in the preceding trading days, perhaps indicating that momentum is not as strong as before. The upper Bollinger band at 0.7517, coinciding with the [..]

Forex News – Aussie gains as RBA keeps rates unchanged; focus shifts to tomorrow’s GDP report

Posted on June 6, 2017 at 9:13 am GMT

During today’s monthly policy meeting, the Reserve Bank of Australia announced its decision to leave its benchmark interest rate unchanged at the record low of 1.5%. This was widely expected by analysts given the central bank’s guidance, as policy makers projected a steady outlook for the remainder of the year. The Australian economy has been giving mixed signals recently – despite stronger jobs growth in recent months, subdued wage growth combined with rising household debt are raising concerns of weaker [..]

FX Daily Outlook | 06-06-17

Posted on June 6, 2017 at 8:30 am GMT

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Forex Market Review (Asian Session) – Dollar extends decline; aussie rallies after RBA; oil under pressure

Posted on June 6, 2017 at 7:16 am GMT

The dollar was broadly weaker and the yen gained on safe haven demand. The aussie rallied after the RBA meeting. Oil remained under pressure. The Reserve Bank of Australia announced its decision to hold its benchmark interest rate steady at 1.5% and said that its unchanged policy was consistent with sustainable growth and hitting its inflation target. The markets took comfort from the RBA statement and this helped the aussie erase earlier losses to reach a session high of $0.7495. [..]

FX Daily Outlook | 05-06-17

Posted on June 5, 2017 at 7:29 am GMT

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Forex Market Review (Asian Session) – Sterling slips after London attacks; oil surges on tensions in the Gulf

Posted on June 5, 2017 at 5:43 am GMT

The dollar hovered near seven-month lows against the yen following Friday’s disappointing US jobs report, while sterling weakened after the news of the attacks in London over the weekend. Gold hit its highest in over six week and oil was lifted due to tensions in the Middle East. The greenback held onto losses made on Friday after the release of the non-farm payrolls report which showed fewer jobs were added to the US economy in May, while the previous two [..]

Week Ahead – Uncertainty ahead of UK election, ECB guidance shift and Aussie GDP concern

Posted on June 2, 2017 at 3:23 pm GMT

A number of key risk events next week could cause some volatility in financial markets with the UK general election taking centre stage. The European Central Bank will also be in focus as it meets to possibly discuss removing its easing bias from its policy statement. In contrast, the Reserve Bank of Australia may find it hard to maintain an upbeat outlook at its meeting on signs that growth in Australia is slowing. In terms of data, GDP figures for [..]

Forex Market Review (Asian Session) – Dollar firmer after ADP jobs; all eyes on NFP; oil drops after US decision to withdraw from Paris Climate Accord

Posted on June 2, 2017 at 7:19 am GMT

The dollar consolidated gains made after a solid ADP jobs report on Thursday which gave investors optimism that today’s non-farm payrolls number could also be upbeat. This would strengthen expectations for a rate hike by the Federal Reserve at its meeting this month. The ADP private employment report was better than expected and increased by 253,000 jobs in May versus forecasts for a gain of 185,000 jobs. A separate report showed US factory activity picked up last month after slowing [..]

Forex Market Review (European Session) – Dollar jumps higher on strong ADP employment data; pound recoups losses but aussie slumps

Posted on June 1, 2017 at 2:52 pm GMT

The US dollar turned sharply higher in today’s European session after the ADP employment report showed a bigger-than-expected increase in private sector payrolls. The pound managed to recoup its earlier losses but the Australian dollar extended its slide to three-week lows. The greenback had its best day in a fortnight against the yen today as it got a boost from strong jobs data. Private sector employment rose by 253k in May according to the ADP employment report. Analysts were expecting [..]

Forex News – Australian dollar pushed lower by weaker-than-expected capital expenditure data and weak Chinese PMI

Posted on June 1, 2017 at 10:12 am GMT

The Australian dollar fell to its lowest level since mid-May early on Thursday after initially gaining following domestic data on retail sales and capital expenditure. Disappointing details in the data combined with softer Chinese manufacturing PMI data, caused the aussie to tumble against the greenback. China is a major trading partner for Australia. The Australian Bureau of Statistics published data showing retail sales rebounded sharply from March’s 0.2% drop, to rise 1.0% month-on-month in April, well above the 0.3% increase expected [..]

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