AUDUSD

Daily Market Comment – Stocks cheer Trump’s stimulus U-turn; pound muted after ‘thin’ Brexit deal

Posted on December 28, 2020 at 9:40 am GMT

President Trump makes surprise U-turn on virus aid bill, averts government shutdown ‘Thin’ Brexit deal leaves many unanswered questions, pound unimpressed Equities buoyed, dollar pressured, gold jumps Relief as US stimulus and spending bill becomes law Trading for the last week of 2020 got off to a bullish start after President Trump unexpectedly signed into law the Covid-19 relief and funding bill late on Sunday after repeatedly refusing to do so. The $2.3 trillion package, which includes a fresh round [..]

Commodities outlook: can gold, oil and metals stay bullish in 2021?

Posted on December 24, 2020 at 2:46 pm GMT

It’s been an incredible year for commodities as the global pandemic has induced some historic moves in the prices of key commodities such as gold and oil. Growth commodities like oil and industrial metals, whose fortunes are more directly tied to economic performance, have rallied hard since March when markets were flooded with stimulus and look set to finish 2020 on a positive note. The safe-haven gold, which had been on the rise long before the pandemic, has not been [..]

Daily Market Comment – Brexit deal announcement imminent, pound up

Posted on December 24, 2020 at 9:57 am GMT

UK and EU on the verge of a historic post-Brexit trade agreement, pound advances Trump imperils stimulus deal, risks government shutdown But markets calm in thin holiday trade; dollar drifts lower, stocks edge up Brexit deal is ‘done’ Britain and the European Union appear to be on the cusp of agreeing to a historic post-Brexit trade pact, with officials reportedly working through the night to put the finishing touches to the 2,000-page text. Negotiators continue to thrash out the final [..]

Technical Analysis – AUDUSD restores bullish bias with foothold on mid-Bollinger band

Posted on December 24, 2020 at 8:39 am GMT

AUDUSD’s recent traction off the mid-Bollinger band at 0.7461 appears to have revived the upside tendency, which commenced from the 0.6990 low of November 2. In addition, the climbing simple moving averages (SMAs) are safeguarding the dominant bullish picture. Furthermore, positive momentum seems to be improving within the short-term technical indicators. The MACD has slid marginally below its somewhat stationary red signal line but remains deep in the positive region, while the rising RSI is approaching the 70 level. Additionally, [..]

Daily Market Comment – Virus scare eases but Trump’s stimulus threat tempers mood

Posted on December 23, 2020 at 9:39 am GMT

Equities on firmer footing as panic over new virus strain subsides further But another danger looms as President Trump unhappy with $900 billion stimulus bill Pound’s yo-yo ride continues as hopes rise for pre-Christmas Brexit deal Can Trump scupper Congress’ stimulus aid? Equities were on edge on Wednesday even as investors struck a cautiously optimistic tone ahead of the festive break. President Trump threatened late on Tuesday to block the $900 billion virus relief bill passed by both chambers of [..]

Daily Market Comment – Dollar edges up amid the wait for elusive stimulus and Brexit deals

Posted on December 18, 2020 at 10:01 am GMT

Dollar selling eases as caution creeps in, but still set for big weekly losses The long wait for deals in Washington and Brussels takes edge off risk rally Stocks mixed, some volatility may lie ahead Dollar bears pause for breath as Congress in race against time The US dollar was attempting to end its week-long losing streak on Friday as doubts about how soon a stimulus deal in Congress and a Brexit trade pact between the UK and EU can [..]

Daily Market Comment – Dollar whipsaws on Fed’s dovish guidance, upbeat forecasts

Posted on December 17, 2020 at 9:56 am GMT

Fed commits to current pace of QE until it sees “substantial further progress” Dollar jumps on modest tweak, rosy outlook before being pummelled by dovish Powell Pound continues to soar on Brexit deal optimism, euro climbs new highs too Aussie and kiwi on a roll as strong data, US stimulus hopes maintain bullish momentum Fed disappoints before Powell has to reassure The Federal Reserve pledged on Wednesday to keep buying bonds at the existing pace of $120 billion per month [..]

Technical Analysis – AUDUSD stretches bullish wave to fresh 2 ½-year high

Posted on December 17, 2020 at 8:30 am GMT

AUDUSD’s impressive rally shows no signs of abating as the pair is set to explore the 0.7600 zone for the first time in 2 ½ years. The pair seems to have completed a three-step corrective cycle (a-c) and is currently building a new bullish wave, with the technical indicators endorsing the positive mode in the market. Although well into the overbought territory, the RSI and the Stochastics have yet to find a turning point, reflecting a cautiously bullish short-term bias. [..]

Daily Market Comment – Two deals in the making and a Fed dilemma

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

US congressional leaders close in on a stimulus deal as talks continue Brexit chatter lifts pound amid rumours a trade deal is within grasp Dollar on the backfoot ahead of least predictable Fed meeting of the year Hopes rise for a deal in Congress Hopes are running high on Capitol Hill that a stimulus deal can be reached after reported progress on Tuesday. US political leaders are set to meet again later today as they inch closer to agreeing on [..]

Technical Analysis – EURCHF looks neutral-to-bullish; indicators are flat

Posted on December 15, 2020 at 1:11 pm GMT

EURCHF seems to be range bound, something also reflected in the flattening technical indicators. The RSI is standing near the neutral threshold of 50, while the MACD is trying to jump above the zero line with weak momentum. The directionless Ichimoku lines and the steadied cloud further reflect this view, however, the 20- and 40-period simple moving averages (SMAs) are ready to post a bullish crossover in the short-term. In case of positive pressures, initial tough resistance could develop from [..]

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