AUDUSD

Technical Analysis – AUDUSD retreats below short symmetrical triangle

Posted on January 15, 2020 at 8:34 am GMT

AUDUSD is slipping below a short symmetrical triangle formed between the 20- and the 50-period simple moving averages (SMAs) in the four-hour chart. However, the fact that the 20-period SMA is preparing to cross above the 50-period SMA is still sending some possible trend signals if completed. In momentum indicators, signals remain neutral to bearish as the RSI is pointing downwards below 50, while the MACD keeps flattening around its red signal line. Should sellers dominate below the 0.6880 restrictive [..]

Daily Market Comment – Risk assets remain well bid ahead of signing of trade deal; pound slips on rate cut speculation

Posted on January 13, 2020 at 9:33 am GMT

Risk assets start week on positive note, driven by optimism of ‘phase one’ trade deal being signed on Wednesday Risk-on sentiment, along with easing Iranian tensions, weigh on safe havens; gold and yen slide Pound under pressure as more BoE policymakers join the rate cut bandwagon Trade deal optimism continues to set market tone The week got off to an upbeat start as investors set their sights on the imminent signing of the US-China trade pact on Wednesday, which is [..]

Week Ahead – US and China set to seal Phase One deal ahead of Chinese Q4 GDP release

Posted on January 10, 2020 at 11:42 am GMT

The United States and China will finally put pen to paper on the hard-fought ‘phase one’ deal on January 15, ending months of trade uncertainty and hostilities. However, it will be too early for the ebb in trade tensions to have benefited China’s export-heavy economy in the fourth quarter and GDP numbers due out of the country will likely leave markets underwhelmed. It will be an important data week in the UK and US as well, with monthly industrial output, [..]

Daily Market Comment – US stocks carve out new highs ahead of Nonfarm Payrolls

Posted on January 10, 2020 at 10:10 am GMT

Wall Street hits new records and US jobs data today may add fuel to the rally Canada’s employment figures also due – asymmetric risk for loonie? Pound drops on dovish BoE comments and may still have some way to go Nonfarm payrolls: More fuel for stocks? The main event today will be the US employment report for December. Nonfarm payrolls (NFP) are forecast to clock in at 164k, less than the astounding 266k in November, but still a solid number [..]

Daily Market Comment – Oil crashes, stocks roar higher as geopolitical nerves calm

Posted on January 9, 2020 at 9:58 am GMT

Yen and gold slump, equities jump as US-Iran tensions take a back seat Dollar outperforms amid fading Fed rate-cut expectations – lots of Fed speakers today In Canada, BoC Governor Poloz delivers remarks and might strike a dovish tone Oil collapses alongside safe havens as worries of US-Iran war fade Global markets continued to price out the risk of an imminent all-out war between the US and Iran yesterday, amid signs that neither side is seeking further escalation. The fact [..]

Daily Market Comment – Iran attacks US bases, but risk aversion doesn’t last

Posted on January 8, 2020 at 9:40 am GMT

Safe havens spike higher, stocks drop as Iran hits US bases in Iraq Yet, risk aversion fades as both sides show little appetite for more escalation Meanwhile, dollar advances on healthy US data, aussie burned by wildfires Oil and gold jump, stock futures briefly dip after Iran strikes back Tehran didn’t take long to retaliate against the US assassination of its most powerful general, as overnight Iran attacked with ballistic missiles two military bases in Iraq that are hosting American [..]

Technical Analysis – AUDUSD pauses bearish move near 0.6850; remains in bullish channel

Posted on January 8, 2020 at 7:13 am GMT

AUDUSD found a strong resistance obstacle on the six-month high of 0.7030 on December 31 and subsequently completed four consecutive red days. The price dropped towards the 20-day simple moving average (SMA) and the 50.0% Fibonacci retracement level of the upleg from 0.6670 to 0.7030, near 0.6850. Furthermore, the pair remains within the upward sloping channel, created from the bottom on October 1. Looking at the technical indicators, the RSI and the stochastic seem to be flat in the negative [..]

Daily Market Comment – Geopolitical fears ease, but risk sentiment remains fragile

Posted on January 7, 2020 at 9:47 am GMT

Safe havens pull back, stocks recover as some geopolitical risk is priced out Alas, it might be only a matter of time before Middle East fears resurface – how will Iran retaliate? In economics, the ISM non-manufacturing PMI today may prove crucial for the dollar Yen retreats, stocks rebound as Middle East worries ease – for now Global risk appetite improved on Monday, with defensive currencies such as the Japanese yen surrendering some recent gains while US stocks recovered lost [..]

Week Ahead – US jobs report to heat things up after holiday snooze

Posted on January 3, 2020 at 12:30 pm GMT

Markets will get back into full gear next week as traders return from their festive breaks and the economic data start rolling again. The spotlight will be on the nonfarm payrolls report in the United States, but key indicators out of the Eurozone, China, Canada and Japan should also attract attention. With the trade optimism setting the market mood at the end of 2019 and the start of 2020, there’s a risk the incoming data may not support the brightening [..]

Daily Market Comment – Oil jumps, Mideast tensions rise after US air strikes kill Iranian commanders

Posted on January 3, 2020 at 9:15 am GMT

Tensions flare up in the Middle East after US air strikes kill Iran’s top military leader Oil prices shoot higher, stocks turn negative after the attacks Gold hits 4-month high, yen and Swiss franc soar US air strikes kill risk-on mood Heightened geopolitical tensions threatened to destroy the risk-on sentiment that’s been driving the markets since December after the United States launched air strikes in Iraq, killing top Iranian military officials. The US Defense Department said President Trump had ordered [..]

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