AUDUSD

Daily Market Comment – Euro slips after ECB; stocks stage another comeback

Posted on January 24, 2020 at 12:28 pm GMT

Euro/dollar breaks lower as ECB is a touch more dovish than expected European PMIs today were mixed, leaving the euro in search of direction Stocks recover losses, but yen doesn’t move accordingly – excess liquidity to blame? UK PMIs beat forecasts, arguing for the BoE to stay on hold next week Euro drops as Lagarde doesn’t hit back at negative rates As expected, the European Central Bank (ECB) made no changes to its stimulus program yesterday, nor did President Lagarde [..]

Daily Market Comment – ECB meets after BoC sinks loonie; risk appetite wobbles

Posted on January 23, 2020 at 9:54 am GMT

ECB to stay on hold – risks tilted towards a slightly more upbeat narrative BoC teases rate cut, sends loonie plunging Yen jumps as China seals off major city to avoid virus contagion Pound and aussie soar after strong data diminish odds of rate cuts ECB decision: No action, but perhaps a less dovish tone All eyes will be on the European Central Bank (ECB) today, which concludes its policy meeting at 12:45 GMT. No action is expected, so the [..]

Australian jobs data a major clue for RBA rate cut as bushfires rage on – Forex News Preview

Posted on January 22, 2020 at 9:40 am GMT

Australia hasn’t had the best start to 2020 as the bushfires that have been ravaging the country since October have only just started to subside, with the full economic impact yet to be seen. The December data – when the fires intensified – could reveal the extent to which the economy was hit by the devastating blazes. The first key report is Thursday’s employment numbers, due at 12:30 GMT. With the Reserve Bank of Australia already on an easing bias, [..]

Daily Market Comment – Don’t fear the virus; BoC rate decision in sight

Posted on January 22, 2020 at 9:19 am GMT

BoC to stay on hold, but any hints of concern might elicit sharp downside in loonie Risk sentiment recovers as concerns about the virus fade Decent UK data lift sterling, but PMIs will be the casting vote on rate cut BoC meeting: Another asymmetric event for the loonie The main event today will be the Bank of Canada (BoC) rate decision at 15:00 GMT. A press conference by Governor Poloz will follow about an hour later. Rates are almost certain [..]

Technical Analysis – AUDUSD appears to be improving; aided by uptrend line

Posted on January 22, 2020 at 9:01 am GMT

AUDUSD is finding substantial upside pressure at the 0.6827 level around where the 100-day simple moving average (SMA) is currently located. Furthermore, the price is retesting a broken downtrend line drawn from December 2018 and the tentative uptrend line pulled from the multi-year low of 0.6670, which is aiding the above outlook. The short-term oscillators reflect mixed signals in directional momentum. The MACD is declining further below its red trigger line and under its zero mark. However, the %K line [..]

Daily Market Comment – Risk appetite hit by China virus fears

Posted on January 21, 2020 at 9:57 am GMT

Yen shines, Asian stocks drop as markets focus on virus outbreak BoJ preserves its limited firepower for a rainy day Busy day ahead: UK data, impeachment, World Economic Forum, and earnings Yen lifted by coronavirus concerns, but is this sustainable? Financial markets traded quietly on Monday, with most currency pairs staying confined in very narrow ranges, as a public holiday in America and the absence of any noteworthy economic data releases in Europe left investors wanting. That all changed overnight [..]

Daily Market Comment – Dollar grinds higher, Wall Street hits new records

Posted on January 20, 2020 at 9:43 am GMT

Greenback outperforms as incoming data reaffirm strength of US economy Pound crumbles after soft retail sales enhance case for a BoE rate cut next week Bank of Japan rate decision coming up; supply disruptions boost oil Solid US data lift dollar, catapult US stocks to fresh records The dollar was the star performer in the FX market on Friday, advancing across the board after the latest batch of US data beat forecasts, feeding the narrative that the American economy continues [..]

Week ahead – ECB, BoJ, and BoC meet before crucial European and UK PMIs

Posted on January 17, 2020 at 1:46 pm GMT

It’s going to be an action-packed week, with three major central bank meetings and a storm of economic data likely to keep traders glued to their screens. The European Central Bank is unlikely to signal anything radical, so the euro might be driven mainly by the bloc’s PMI data. The Bank of Japan meeting could also be a snoozer, though there is a case to be made for the Bank of Canada to adopt a more dovish tone. In Britain, [..]

Daily Market Comment – US earnings and data, China GDP propel stocks to fresh highs; dollar nears 8-month high vs yen

Posted on January 17, 2020 at 9:24 am GMT

China reports slowest annual growth in 29 years but signs of rebound at year-end Stocks climb to new records amid ongoing trade optimism and positive earnings String of upbeat data out of the US also boosts risk appetite China’s growth slows in 2019 but recovery could be underway Economic growth in the world’s second largest economy reached the slowest in 29 years according to GDP numbers out of China this morning. GDP expanded by 6.1% for the full year in [..]

China’s GDP growth expected to stabilize as Phase One deal completed – Forex News Preview

Posted on January 16, 2020 at 2:35 pm GMT

China will report GDP numbers for the fourth quarter on Friday 02:00 GMT alongside industrial output and retail sales figures for December. After growth slowed to a three-decade low in the third quarter, will the optimism around the ‘phase one’ trade deal in the final three months of 2019 be enough to kick start the economy? No rebound expected just yet Economic growth in China has been steadily decelerating since 2010 and stood at just 6.0% year-on-year in the third [..]

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