AUDUSD

Technical Analysis – AUDUSD bulls lose steam near trendline

Posted on February 12, 2020 at 8:14 am GMT

AUDUSD earlier this week escaped from a more-than-a-decade low of 0.6661 to bounce back into the 0.6700 territory. While the RSI and the MACD on the four-hour chart have entered bullish territory, both indicators have yet to show strong momentum above their neutral levels, bolstering the case of a neutral to-positive session in the short-term. Besides, for the bulls to return to the game, the price should break above the resistance trendline stretched from the 0.7031 peak and pierce the bottom of [..]

Daily Market Comment – Wall Street hits new records, but beware of the Democratic primary

Posted on February 11, 2020 at 11:59 am GMT

Fading virus fears boost equities, but New Hampshire primary today poses risks Euro pummeled as markets price out prospect of a big German spending package Fed chief Powell testifies, ECB’s Lagarde and BoE’s Carney speak RBNZ rate decision coming up – a more dovish tone seems likely Stocks climb as virus fears fade, but how long until they ‘feel the Bern’? Concerns around the economic fallout of the coronavirus seem to be fading off the market’s radar, as the rate [..]

Daily Market Comment – ‘King dollar’ continues its reign after solid jobs data

Posted on February 10, 2020 at 10:16 am GMT

Dollar cruises higher after strong payrolls push back expected timing of Fed cuts Yet, stocks struggle for altitude, yen climbs as virus fears remain in play Aussie breaks 11-year low, but quickly bounces back The world’s reserve currency shined once again on Friday, after US payrolls for January exceeded estimates, prompting traders to push back the expected timing of the next Fed rate cut. Nonfarm payrolls rose by 225k, smashing the forecast for a 160k increase and signaling that the [..]

Daily Market Comment – Risk aversion creeps in as virus death toll jumps

Posted on February 7, 2020 at 9:27 am GMT

Equities rally fades as spread of coronavirus shows no sign of slowing Yen edges up but dollar also holds firm ahead of US jobs report Pound set for large weekly losses amid Brexit brinkmanship Virus fears intensify; risk rally loses steam The relief rally sparked by China’s efforts to contain the coronavirus and support its economy appeared to run out of steam by the end of the week as most major stock indices in Asia turned red on Friday. Futures [..]

Virus treatment: Can it unleash a wave of risk appetite? – Special Report

Posted on February 6, 2020 at 4:22 pm GMT

The deadly virus theme that has plagued global markets, devastating commodity prices and risk-sensitive currencies, seems to be calming down. The rate of infections appears to be levelling off, and Chinese media suggest scientists found a drug that effectively treats patients. If confirmed, that could ignite a fresh wave of risk-taking, helping the commodity-linked Australian, Canadian, and New Zealand dollars to rally in relief, as safe-havens like the yen come under selling pressure. Is it a short-term thing? Evaluating the [..]

Daily Market Comment – US stocks extend bull run as China cuts tariffs, Trump gets acquitted

Posted on February 6, 2020 at 9:29 am GMT

Global stocks continue to rally on upbeat US data and as virus fears ease Risk-on further aided after China cuts US tariffs and President Trump gets acquitted Dollar climbs to 2-month highs, yen retreats Unstoppable Wall Street scales fresh records A string of positive developments added further impetus to the rebound in global stocks on Thursday, as the recovery extended into a third day. Global stock markets plunged last week with China playing catch up on Monday as fears about [..]

Daily Market Comment – Markets hold steady but virus risks linger; oil up as OPEC+ considers output cuts

Posted on February 5, 2020 at 9:33 am GMT

Stocks extend rebound but caution keeps gains in check Yen and gold edge back up as coronavirus death toll continues to rise OPEC+ holds technical meeting to discuss fresh cuts to output amid virus impact Markets remain calm but growth worries persist This week’s cash injection by Chinese authorities and pledges of additional stimulus if needed to stabilize the economy from the disruptions caused by the coronavirus outbreak helped maintain calm in financial markets on Wednesday. Stocks in Asia headed [..]

Technical Analysis – AUDUSD completes inverted hammer after rebound on 4-month low

Posted on February 5, 2020 at 7:45 am GMT

AUDUSD is looking more bullish after completing an inverted hammer pattern on Tuesday – supposedly a reversal move – once it posted a new four-month low of 0.6680. The strong sell-off started from the six-month high of 0.7030 but the technical indicators are suggesting a potential pullback in the short-term. The RSI is flattening after the jump in the bearish territory, while the stochastic oscillator is moving higher. A continuation of the upward rally would send prices towards the immediate [..]

Daily Market Comment – Stocks steadier as China tries to calm markets; dollar up on ISM beat

Posted on February 4, 2020 at 9:28 am GMT

Chinese shares recoup some losses as authorities attempt to stem sell-off Dollar lifted by surprise pickup in US manufacturing activity Pound extends losses as UK and EU clash on post-Brexit trade arrangements Asian stocks turn green but virus fears persist Stocks in Asia took a breather from yesterday’s steep sell-off as Chinese authorities stepped in to limit the fallout from the worsening outbreak of the coronavirus, as the death toll continues to rise. A massive injection of liquidity by China’s [..]

Will the coronavirus infect the RBA’s policy? – Forex News Preview

Posted on February 3, 2020 at 3:14 pm GMT

The Reserve Bank of Australia (RBA) will announce its rate decision on Tuesday at 03:30 GMT, and markets assign only a 25% chance for a rate cut. While the aussie could spike up if policy is indeed kept unchanged, any positive reaction might remain short lived, as the broader outlook still seems negative amid fears of a severe slowdown in China and falling commodity prices. That said, much will also depend on whether aussie/dollar can break below the 10-year low [..]

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