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AUDUSD

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Forex Market Review (European Session) – Euro eases from highs; dollar steady ahead of Trump tax plans

Posted on April 26, 2017 at 3:02 pm GMT

The euro eased back from its earlier highs in Wednesday’s European session, while the US dollar largely held on to its gains as the market’s attention shifted to the much-anticipated announcement on tax reforms by the US Treasury Department. After two days of solid gains, the euro succumbed to profit taking as it pulled away from the 5½-month high of 1.0950 touched earlier in the day to ease to around 1.0880 dollars in late European session. Another factor driving the [..]

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Forex News – Australian inflation enters RBA’s target range, still below forecasts; aussie falls

Posted on April 26, 2017 at 11:19 am GMT

Australian CPI data for the first quarter of the year showed annual inflation entering the Reserve Bank of Australia’s target range for the first time since September 2014. Despite this feat, inflation numbers were below what analysts expected while core inflation significantly lagged the RBA’s target band of 2 to 3%. These factors caused the Australian dollar to fall. Taking a look at the actual numbers, inflation stood at 2.1% year-on-year during the first quarter of 2017. This compares favorably [..]

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Forex Market Review (Asian Session) – Aussie hurt by miss on inflation; yen weakens while euro hits new 5½-month high

Posted on April 26, 2017 at 7:50 am GMT

The aussie weakened after Australian inflation data missed forecasts. Risk appetite continued to pressure safe havens like the yen and gold. The euro was supported by the euphoria of the outcome of round one of the French elections. Australia reported that its headline inflation rose to an annualized rate of 2.1% in Q1, pushing it into the Reserve Bank of Australia’s target band of 2 to 3% for the first time since the September quarter of 2014. However, the result [..]

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Technical Analysis – AUDUSD bearish bias below the 200-day moving average; posts 6-day low

Posted on April 26, 2017 at 7:12 am GMT

AUDUSD has fallen since the day’s open. The pair is on its third straight day of declines, while today’s fall constitutes a near one-week low. The RSI is pointing to a bearish short-term picture as it is currently at 42, below the 50 neutral-perceived level. The MACD histogram reinforces this view, as it is negative and below the red signal line. The current level of the 200-day moving average (MA) at 0.7552 could offer some intra-day resistance. Notice that today’s [..]

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Week Ahead – US and UK GDP eyed amid slowing consumer spending; French election, ECB and BoJ meetings also in focus

Posted on April 21, 2017 at 4:01 pm GMT

After a quiet week for data following the Easter celebrations, the economic calendar is looking busier over the coming seven days. However, political events could once again overshadow the statistics as France holds the first round of its presidential election on Sunday. Central banks will also be under the spotlight with both the European Central Bank and the Bank of Japan holding their scheduled policy meetings. In terms of data, the first estimates of US and UK GDP will be [..]

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Forex Market Review (Asian Session) – Sterling holds gains at six-month highs; aussie underperforms

Posted on April 19, 2017 at 7:39 am GMT

Sterling held on to gains made after surging to its highest level in more than six months on Tuesday in reaction to an announcement by UK Prime Minister Theresa May who surprised markets by calling a snap general election in June. Markets see a sure win for Theresa May and the Conservative party and expect that this would strengthen her position during the Brexit negotiations as well as stabilize domestic politics. The pound rallied to a high of $1.2904 by [..]

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Forex News – China GDP growth accelerates to 6.9% in Q1 but debt concerns rise

Posted on April 18, 2017 at 11:05 am GMT

China’s economy expanded at an annual pace of 6.9% in the first quarter of 2017, beating analysts’ expectations of 6.8% growth. The figure is the highest since the third quarter of 2015 and above the government’s official target of 6.5%. Growth during the three-month period was fuelled by a rapid rise in credit and infrastructure spending, but a rebound in factory output added to hopes of a more sustained recovery. After recording the slowest annual growth in 26 years of [..]

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