AUDUSD

Aussie jobless rate could hit 2-decade high as government’s wage bill skyrockets – Forex News Preview

Posted on May 13, 2020 at 1:43 pm GMT

Australia is among the few fortunate countries that can claim success in quickly containing the spread of the coronavirus. But on Thursday, the latest employment report, due at 1:30 GMT, will reveal what the cost of that success was on the labour market. The number of job seekers is expected to have soared in April. But with the country’s lockdown being slowly relaxed, the primary concern for aussie traders now is how fast the recovery will be. Unemployment to jump [..]

Daily Market Comment – RBNZ flags negative rates, Powell expected to do opposite

Posted on May 13, 2020 at 8:42 am GMT

Kiwi plunges after RBNZ signals negative rates are an option But Fed’s Powell unlikely to embrace negative rates in upcoming speech Warnings of second virus wave hit stocks RBNZ could be next to tiptoe into negative rates The New Zealand dollar fell about 1% on Wednesday after the Reserve Bank of New Zealand doubled its bond buying plan at its policy meeting today and gave its clearest indication yet that negative interest rates could become “an option in future”. As [..]

Daily Market Comment – Fed talks down negative rates, dollar likes it

Posted on May 12, 2020 at 8:27 am GMT

Dollar jumps as Fed officials downplay prospect of negative rates in the US Stocks slip as growing fears of second wave of infections weigh on sentiment Central banks in focus: more Fed speakers on the way, RBNZ decision awaited US yields rise as negative rate expectations fade The US dollar held onto its gains on Tuesday after surging yesterday on the back of rising Treasury yields. The yield on two- and five-year Treasury notes hit record lows on Friday as [..]

Technical Analysis – AUDUSD retreats after flirting with 7-week peak

Posted on May 11, 2020 at 1:29 pm GMT

AUDUSD penetrated to the downside the short-term rising trend line in the previous days, but advanced to meet it again before the bearish movement today. A trading range has been created after the touch again on the seven-week high of 0.6570 with lower boundary the 0.6378 barrier. The price is flirting with the 20-period simple moving average (SMA) ahead of the flat 40-period SMA, while the technical indicators are confirming the recent negative bias with the RSI approaching the 50 [..]

Daily Market Comment – Dollar and stocks crawl higher but markets on alert amid virus spike

Posted on May 11, 2020 at 8:33 am GMT

Dollar gains versus yen, stocks edge up as lockdown easing spurs bets of economic rebound But fears of second virus wave keep risk appetite in check, gold ticks higher Doubts about Trump’s commitment to US-China trade deal adds to subdued tone Safe-haven yen takes a tumble as more economies reopen The US dollar appeared to lose some of its safe-haven allure on Monday as signs of economic life in many parts of the world shifted the focus to the improving [..]

Week Ahead – RBNZ may increase QE; Aussie, UK and US data to deepen that sinking feeling

Posted on May 8, 2020 at 9:48 am GMT

There can be no hiding from the awful economic data that is now pouring in from all angles as we move well into the second quarter. Australian jobs, UK Q1 GDP, and US retail sales and inflation numbers will be the next key releases to showcase the virus turmoil. But amid growing optimism about the pandemic easing, the Reserve Bank of New Zealand will likely err on the side of caution at its policy meeting, posing a downside risk for [..]

Daily Market Comment – Stocks soar ahead of worst NFP ever on bets Fed will go negative

Posted on May 8, 2020 at 8:42 am GMT

US nonfarm payrolls today will be a horror show, but will markets care? Stocks set for more gains on trade news and bets Fed will cut to negative Dollar and yen retreat amid risk-on mood, but losses limited Commodity currencies climb, loonie eyes its own jobs report Worst nonfarm payrolls ever, by far The disconnect between sanguine financial markets and an imploding real economy grows larger by the day, as bets for more and more stimulus are leading Wall Street [..]

Daily Market Comment – Yen smiles as stocks struggle for direction

Posted on May 7, 2020 at 9:40 am GMT

Yen and dollar shine amid dire US and EU data, trade tensions, bankruptcy fears Stocks close lower, but solid Chinese trade numbers lift futures and aussie Pound perks up after BoE keeps stimulus powder dry, but risks linger US jobless claims on the menu today; can equities continue to defy gravity? Yen and dollar stand tall as traders weigh risks Stock markets have been partying like central bankers invented a virus vaccine in recent weeks, but some realism may be [..]

Technical Analysis – AUDUSD lands on 20-day MA; keeps uptrend safe

Posted on May 7, 2020 at 7:26 am GMT

AUDUSD nicely landed on the 20-day simple moving average (SMA) following its pullback from a peak of 0.6569 on April 30. Despite the latest downside reversal, the main trend remains up in the short-term picture, with the price set to confirm another higher low at 0.6371 and head north again if the bulls manage to close above the nearby 0.6450 resistance, which is the 61.8% Fibonacci retracement level of the bearish wave from the 0.7031 top. The bullish cross between [..]

Daily Market Comment – German ultimatum sinks euro, yen capitalizes

Posted on May 6, 2020 at 10:57 am GMT

Euro crumbles after German courts challenge ECB stimulus Outlook still bleak, this is the last thing the fragile Eurozone needs Stocks trim gains on Fed gloom and Congressional ‘pause’, yen climbs Today: ADP data will give a taste of what’s on Friday’s NFP menu Euro falls apart as Germany challenges ECB The single currency came under heavy fire yesterday, after Germany’s top court ruled that the ECB’s asset purchases were unconstitutional. The judges gave the European Central Bank three months [..]

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