AUDUSD

Technical Analysis – AUDUSD exhibits slowing ascent; positive risks persist

Posted on August 17, 2020 at 1:22 pm GMT

AUDUSD appears to have secured its positive bearing for now, as the price nudged back above the simple moving averages (SMAs) and the Ichimoku cloud. Once again, the price resisted negative pressures and now stands on top of the 50-period SMA at the cloud’s upper surface at 0.7177. Yet, the recently directionless Ichimoku lines sponsor a restrained mode within the pair. Nonetheless, the short-term oscillators reflect some improvement in positive momentum. The MACD has advanced above its red trigger line [..]

Technical Analysis – AUDUSD exhibits slowing in ascent, positive risks persist

Posted on August 17, 2020 at 12:51 pm GMT

AUDUSD appears to have secured its positive bearing for now, as the price nudged back above the simple moving averages (SMAs) and the Ichimoku cloud. Once again, the price resisted negative pressures and now stands on top of the 50-period SMA at the cloud’s upper surface at 0.7177. Yet, the recently unclear Ichimoku lines sponsor a restrained mode within the pair. Nonetheless, the short-term oscillators reflect some improvement in positive momentum. The MACD has advanced above its red trigger line [..]

Technical Analysis – AUDUSD bulls flirt with long-term SMA after two years

Posted on August 13, 2020 at 2:35 pm GMT

AUDUSD has been flirting with the 200-weekly simple moving average (SMA) around 0.7240 for the past fortnight while struggling to surpass the 61.8% Fibonacci of the 0.8135-0.5701 downtrend at the same time. The last time the price touched the long-term SMA was in 2018. The pair violated the 2018 downward pattern and increased the odds for further recovery after crossing above the previous high of 0.7030 and jumping out of the Ichimoku cloud. A bullish cross between the 20- and 50-weekly SMAs [..]

Australian jobs data: Statistical shenanigans – Forex News Preview

Posted on August 12, 2020 at 2:23 pm GMT

Australia’s employment data for July will hit the markets at 01:30 GMT Thursday. Forecasts point to a spike in the unemployment rate, though that’s likely owed to more people coming back to the labor market, not a setback in the economy. As for the aussie, its broader direction will depend mostly on global risk sentiment and vaccine news. Yet, given the RBA’s yield curve control strategy, encouraging vaccine headlines might not boost the aussie across the board – only against [..]

Daily Market Comment – Vaccine fever shakes markets, RBNZ shoots kiwi down

Posted on August 12, 2020 at 9:17 am GMT

Vaccine news catapult global yields higher, push stocks lower Gold falls without a parachute – has it peaked? Dollar inches higher amidst the turbulence, but Fed speakers are a risk RBNZ expands QE and opens door to negative rates, kiwi stumbles Putin says Russia has developed the first vaccine President Vladimir Putin unleashed mayhem in financial markets on Tuesday, after he announced to the world that Russia has developed the first successful coronavirus vaccine. Global bond yields erupted higher [..]

Daily Market Comment – US stocks flirt with record highs, gold retraces

Posted on August 11, 2020 at 8:57 am GMT

S&P 500 cruises towards all-time high as Trump floats capital gains tax cut Markets also take heart from ‘soft’ Chinese retaliation against US Gold pulls back as dollar and bond yields recover RBNZ meets overnight, might ‘talk down’ the kiwi more forcefully Wall Street sets its sights on new records Financial markets seem to have concluded that better days lie ahead for the global economy, with most asset classes trading in a buoyant manner this week. The S&P 500 is [..]

Technical Analysis – AUDUSD seems ready to test uptrend line

Posted on August 10, 2020 at 1:16 pm GMT

AUDUSD completed a double top formation around the 0.7243 resistance level and dropped beneath the 0.7174 resistance and the 40-period simple moving average (SMA). However, the price found strong support at the 23.6% Fibonacci retracement level of the up leg from 0.6830 to 0.7243 at 0.7146 and the Ichimoku cloud. Technically, the RSI indicator is flattening below the 50 level and the MACD oscillator dropped beneath the trigger line and the zero level. The 20- and 40-period SMAs are sloping [..]

Daily Market Comment – Dollar gets a second wind after US payrolls, can it last?

Posted on August 10, 2020 at 10:44 am GMT

Decent US jobs report triggers a short squeeze in the dollar Is the reversing trend in European/American virus cases going to show up in euro/dollar? Trump signs executive orders to bypass Congress and provide more stimulus Muted market reaction to this – does it imply less stimulus overall? Dollar shorts get squeezed after payrolls The world’s reserve currency got a second wind on Friday, recovering some lost ground after a decent US employment report saw traders cover or trim some [..]

Week Ahead – Dollar eyes US stimulus talks, retail sales; UK GDP and RBNZ in focus too

Posted on August 7, 2020 at 1:10 pm GMT

Congressional talks in the United States on a new virus relief package will dominate the market headlines yet again in the coming week as the durability of the latest risk-on episode rests on a deal being reached. But investors will also be keeping a close watch on US retail sales figures to gauge how well consumption is holding up amid renewed virus restrictions. Progress on the recovery will be preoccupying the pound too as UK GDP numbers for Q2 and [..]

Daily Market Comment – Trump fans the geopolitical flames ahead of NFP

Posted on August 7, 2020 at 10:49 am GMT

Nonfarm payrolls to set the tone for markets, along with stimulus negotiations Trump fires another salvo at Beijing, bans transactions with Tencent, moves to delist Chinese firms Geopolitical worries keep dollar alive, Wall Street set to snap 5-day winning streak Nonfarm payrolls: A most uncertain one The main event today will be the US employment report for July. The consensus is for the US economy to have added another 1.6 million jobs, pushing the unemployment rate down to 10.5%, from [..]

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