AUDUSD

Daily Market Comment – Wall Street at fresh record as Biden sworn in; euro up ahead of ECB

Posted on January 21, 2021 at 10:10 am GMT

Hopes of more stimulus and relief over Biden’s peaceful transition lift sentiment US stocks close at new record highs as strong earnings add extra fuel Dollar skids again, euro bounces off lows ahead of ECB decision Optimism high as Biden enters White House After four tumultuous years, Trump’s presidency came to a historic end on Wednesday, as Joe Biden marked his first day at the White House by spreading a message of hope and unity to a fractious nation. While [..]

Technical Analysis – AUDUSD targets January’s top, but will the bulls persist?

Posted on January 21, 2021 at 9:09 am GMT

AUDUSD is buying the shortfall from January’s top of 0.7819 thanks to the 20-day simple moving average (SMA), which managed to cancel bearish forces for the second time. The RSI has resumed its positive momentum above its 50 neutral mark, though the indicator continues to hold a downward direction, while the red Tenkan-sen line, although in a comfortable distance above the blue Kijun-sen, remains flattish. The MACD is also sending some cautious signals as it keeps weakening below its red [..]

Daily Market Comment – Stocks climb, dollar slips as Yellen makes case for more stimulus

Posted on January 20, 2021 at 9:53 am GMT

Stocks power higher after Yellen calls for more big spending to fight pandemic Risk assets rally ahead of Biden inauguration as reflation trade boosted Dollar under renewed selling pressure, gold capitalizes Yellen talks up big spending Risk appetite was riding high on Wednesday after Treasury Secretary nominee Janet Yellen reignited hopes of more massive stimulus packages in the United States in her confirmation hearing yesterday. Yellen went out of her way to make the case for higher spending to counter [..]

Australian employment report may shoot aussie higher – Forex News Preview

Posted on January 19, 2021 at 2:25 pm GMT

December’s employment report for Australia is likely to attract investors’ attention on Thursday at 00:30 GMT. Technically, the recession is over in the country as the economic indicators have turned positive, however, the recovery is not. Unemployment is expected to take two to three years to return to pre-pandemic levels and looking at the nation’s currency, it is holding near recent highs. Unemployment rate predicted to drop to its lowest level since April In the previous release, the unemployment rate unexpectedly fell to 6.8% in November versus October’s figure of 7%. This [..]

Daily Market Comment – Wall Street eyes Yellen testimony, dollar eases

Posted on January 19, 2021 at 9:31 am GMT

Stocks perk up after slow start to the week as focus turns to Yellen and earnings Hopes that Biden administration will spend “big” bolsters sentiment Euro steadies as Italian worries abate, dollar retreats Yellen to tell US lawmakers to “act big” After a sluggish start to the week, risk sentiment improved late on Monday as investors turned their attention on incoming Treasury Secretary Janet Yellen’s confirmation hearing before the Senate today (1500 GMT), while bracing themselves for a slew of [..]

Daily Market Comment – Strong China GDP can’t shake off virus blues, dollar firms

Posted on January 18, 2021 at 9:55 am GMT

Markets wrestle vaccine and stimulus optimism with worsening near-term gloom Upbeat Chinese GDP highlights global growth disparity as US retail sales sag Euro stuck in the doldrums, eyes Italian confidence votes China notches up positive full-year growth in 2020 As most major economies struggle under the weight of the pandemic, China is demonstrating to the world that a full recovery from the virus slump is possible. China’s gross domestic product (GDP) rose by an annual rate of 6.5% in the [..]

Technical Analysis – AUDUSD ranges somewhat; uptrend under some strain

Posted on January 18, 2021 at 9:41 am GMT

AUDUSD has dipped below the 100-period simple moving average (SMA) and appears to be testing the lower boundary of a minor consolidation pattern at 0.7666. The directionless Ichimoku lines and the slightly slowed upward pace of the 50-period SMA are feeding the sideways direction in the pair. That said the steadily climbing 100- and 200-period SMAs are bolstering the positive structure. However, the short-term oscillators are leaning towards the downside, nurturing additional negative price action. The MACD, is declining further [..]

Week Ahead – ECB, BoJ and BoC meet but all eyes on US Capitol

Posted on January 15, 2021 at 12:17 pm GMT

The first of the new year’s central bank meetings will get under way next week and it will be a heavy schedule on the data front as well. The European Central Bank, Bank of Japan and Bank of Canada will almost certainly be debating the latest setback to the recovery from the worsening Covid-19 outbreak. China will report its fourth quarter GDP print and flash PMIs along with inflation and retail sales numbers will be doing the rounds in most [..]

Technical Analysis – AUDUSD maintains solid incline; sentiment favours upside

Posted on January 14, 2021 at 8:48 am GMT

AUDUSD has somewhat consolidated above the mid-Bollinger band after a subtle fade from its recent 33½-month high of 0.7820. The dominant bullish tone in the pair remains unbroken, something also reflected in the dictating simple moving averages (SMAs), which are defending the positive structure. The short-term oscillators overall are leaning towards an improving picture despite showing some dwindling in positive momentum. The MACD, far above the zero mark, has merely dipped below its red trigger line, while the upwards facing [..]

How the pandemic made China stronger – Special Report

Posted on January 12, 2021 at 4:45 pm GMT

The Covid-19 pandemic has stigmatized China as the birthplace of one of most awful diseases in modern history. But it is not all black for the second biggest economy in the world, although challenges remain, as its successful handling of the virus has likely marked another positive quarter in the end of 2020 at a time when new lockdown measures are prolonging growth agonies in the rest of the world. Covid-19, a national pride China’s Communist governing party had a tough year, receiving words [..]

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