AUDUSD

Daily Market Comment – Wall Street snaps back, but FX not convinced

Posted on May 5, 2020 at 11:04 am GMT

US stocks bounce back on medical headlines, rising oil prices, tech strength But FX market signals caution – yen and dollar hold strong, gold too Are investors piling into tech because of re-opening fears and US-China tensions? Euro suffers after German court decision on ECB asset purchases Stock markets storm higher Wall Street continues to defy economic gravity, with all three major US stock indices recouping early losses on Monday to close higher, brushing aside the simmering tensions between Washington [..]

RBA to keep policy unchanged but forecasts may rattle aussie – Forex News Preview

Posted on May 4, 2020 at 12:12 pm GMT

The Reserve Bank of Australia will announce its latest policy decision on Tuesday (4:30 GMT) and is not anticipated to make any changes to the cash rate or its quantitative easing (QE) program. But as one of the newest members to the QE club, the RBA may also be the first to exit its emergency programs as the virus is brought under control in Australia and the Bank has had to make less purchases lately to keep the target on [..]

Technical Analysis – AUDUSD pauses bearish structure at Ichimoku cloud; penetrates uptrend line

Posted on May 4, 2020 at 9:55 am GMT

AUDUSD broke the rising trend line to the downside earlier today, challenging the Ichimoku cloud in the 4-hour chart. This movement is confirmed by the simple moving averages (SMAs) as they are ready to create a bearish crossover and the MACD oscillator is heading south in the negative zone. On the other hand, the RSI indicator is sloping upwards in the bearish zone, suggesting an oversold market. If the price rebounds on the cloud and move higher, it could find [..]

Daily Market Comment – Specter of trade war returns to haunt stocks

Posted on May 4, 2020 at 9:15 am GMT

US stocks drop on Amazon earnings, fall further as US-China tensions flare up Finally discounting the long-term impact on consumption, psychology, and (de)globalization? Yen and dollar shine as risk aversion returns, aussie and kiwi suffer US-China tensions reintroduce stocks to gravity The stimulus-fueled bear rally in global stocks seems to be running on fumes, with optimism evaporating after some distressing remarks by Amazon cast doubt on the sustainability of this heavily concentrated market, and the US-China trade war came back [..]

Daily Market Comment – Trump reignites China feud; Stocks fall on data, ECB and earnings blows

Posted on May 1, 2020 at 8:50 am GMT

Markets go into risk averse mood as Trump threatens China with new tariffs Dire data, ECB inaction and mixed earnings further dent risk sentiment Liquidity thin due to May Day holiday; ISM manufacturing PMI coming up Trump’s tough on China rhetoric is back, spooks markets US President Donald Trump raised the prospect of fresh tariffs on China on Thursday as his administration seeks ways to retaliate against China’s handling of the COVID-19 outbreak. The virus has cost more than 60,000 [..]

Week Ahead – Nonfarm payrolls: The market’s trial by fire?

Posted on April 30, 2020 at 2:17 pm GMT

The serenity that has encompassed global markets lately will be put to the test next week, when America’s nonfarm payrolls data reveal how much destruction the pandemic has left in its wake. The Bank of England and the Reserve Bank of Australia are unlikely to deliver anything new at their meetings, though both will likely maintain a very dovish tone. Overall, the recent flood of liquidity and stimulus has helped stabilize markets, but ultimately, the V-shaped recovery that is now [..]

Technical Analysis – AUDUSD tops at fresh highs; short-term risk cautiously positive

Posted on April 30, 2020 at 7:33 am GMT

AUDUSD has been printing fresh highs over the past three days, with the pair registering another one at 0.6569 early on Thursday. The short-term risk is overall positive as the price is rising comfortably above the Ichimoku cloud and higher than the upward-sloping 20-day simple moving average (SMA) which has recently posted a bullish cross with the 50-day SMA, adding extra credibility to the market’s short-term uptrend. Moreover, the MACD continues to gain momentum above its red signal line, while [..]

Chinese manufacturing PMI could stay in the expansion area – Forex News Preview

Posted on April 29, 2020 at 2:27 pm GMT

The Chinese National Bureau of Statistics (NBS) will publish April’s manufacturing PMI survey on Thursday at 01:00 GMT and analysts expect a tiny pullback after last month’s incredible rebound that drove the index to pre-outbreak levels. While the slowdown in the data may not downgrade hopes of further improvement in the second quarter, the limited actions taken by the country combined with suffering international markets may keep the country’s overall economic outlook cloudy for now. China’s manufacturing PMI may slow [..]

Daily Market Comment – Dollar edges down ahead of Fed; aussie’s bull run continues

Posted on April 29, 2020 at 8:35 am GMT

Dollar drifts lower in mostly risk-on mood ahead of Fed statement Virus success powers aussie to 7-week high, euro perks up too Oil steadies, stocks move higher in lacklustre trading Dollar pressured amid lockdown easing, eyes Fed meeting The mood of cautious optimism continues to prevail in the markets on Wednesday as several countries have begun or are preparing to ease their lockdown measures. Hopes that shuttered businesses will soon be able to reopen their doors has sparked a relief [..]

Daily Market Comment – Oil plunges again despite lockdown exits; gold down too

Posted on April 28, 2020 at 8:34 am GMT

Threat of another crash in oil prices after biggest oil ETF dumps holdings in June contracts But markets otherwise enjoying a rare calm as lockdown measures are slowly relaxed Stocks and dollar hold steady but gold and kiwi skid Oil’s woes persist as WTI plunges WTI oil futures are on track for a second day of hefty losses as the commodity remains heavily pressured after the biggest oil exchange-traded fund (ETF) yesterday said it plans to sell all its WTI [..]

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