AUDUSD

Technical Analysis – AUDUSD starts year in red after fresh 6-month top

Posted on January 2, 2020 at 11:11 am GMT

AUDUSD stretched its nine-day rally to a new six-month high of 0.7030 on December 31, penetrating the upward sloping channel to the upside, before pulling slightly lower. The pair rallied very sharply at the end of the previous year, but now it seems to be losing momentum as the RSI is turning lower below the 70 level for a potential downside correction. Also, the stochastic oscillator completed a bearish crossover within the %K and %D lines in the overbought area, indicating more [..]

Daily Market Comment – Stocks start new year on positive note; dollar recoups some losses

Posted on January 2, 2020 at 9:36 am GMT

Policy easing in China lifts stocks in Asia on first trading day of the year But as stocks extend their rally, in FX markets, most majors pull back against the dollar Gold edges up towards 3-month highs amid some tensions in Middle East and North Korea Quiet start to new year The new year got off to a subdued start with equity markets extending their incredible rally of 2019 and little new developments to rattle currency markets. But with Japanese [..]

Daily Market Comment – Gold levitates higher, Wall Street and dollar retreat

Posted on December 31, 2019 at 9:31 am GMT

Gold freight train rolls past $1520, fueled by decline in dollar & Treasury yields US stocks pull back despite positive trade news – will Trump target the EU next? Have a great New Year! Gold extends gains on weaker dollar, lower yields A broad-based decline in the US dollar remains the dominant theme in the holiday-thinned FX market, even in the absence of any noteworthy headlines. The retreat in the greenback is ‘lifting all boats’, with the New Zealand dollar [..]

FX Year Ahead 2020: Turnaround or same old blues? – Special Report

Posted on December 30, 2019 at 3:33 pm GMT

While 2019 was a turbulent year to be sure, every asset class still managed to end in the green, mainly thanks to central bank stimulus. In the FX space, the winners were the Canadian dollar and British pound, the US dollar was almost flat, while the euro underperformed. Looking into 2020, many risks still hang over the euro as the Eurozone is hardly growing, and while many strategists are calling for the dollar’s demise, that seems unlikely unless the Fed [..]

Daily Market Comment – Year end flows hit dollar, but gold can’t capitalize

Posted on December 30, 2019 at 9:49 am GMT

Greenback takes a hit in thin markets – a prelude to 2020? Gold unable to take advantage of weaker dollar and lower US yields Calendar empty, scarce liquidity still a theme No news is bad news for the US dollar News flow in financial markets remains non-existent as things wind down heading into the New Year, but that hasn’t stopped investors from cutting their exposure to the US dollar, which continues to bleed amid year-end flows. Many argue that [..]

Week Ahead – Focus on manufacturing PMIs in subdued holiday week

Posted on December 27, 2019 at 2:01 pm GMT

The economic calendar will only marginally get busier in the coming week and trading volumes are not expected to pick up much as New Year celebrations get underway. However, key manufacturing gauges out of China and the United States could spoil the festive rally in equities as trade deal optimism continues to support risk assets heading into 2020. Meanwhile, in FX markets, the threat of another flash crash similar to the one seen in January 2019 will likely keep traders [..]

Technical Analysis – AUDUSD extends winning streak but rally at risk of being overstretched

Posted on December 27, 2019 at 8:10 am GMT

AUDUSD surged to a 5-month high of 0.6954 on Friday as the pair looked set to post a seventh straight session of gains. However, although the technical indicators suggest there’s plenty of positive momentum remaining to sustain the rally, there are some signs that the pair is in danger of becoming overbought. The RSI continues to rise and has yet to enter the overbought region, indicating there’s scope for more gains in the near term. But the stochastics are already [..]

Daily Market Comment – Wall Street hits new highs for Christmas; gold gains too

Posted on December 24, 2019 at 9:21 am GMT

Dow Jones lifted by Boeing, aussie and kiwi follow stocks higher Sterling edges lower as Brexit worries persist Gold does its own thing again – swims against the risk-on tide US stocks close at fresh records; aussie and kiwi climb as well Another day, another record close for all three major US equity indices, this time with the Dow Jones (+0.34%) leading the pack. The price-weighted index was propelled higher by some gains in Boeing (+2.9%), which has the highest [..]

Daily Market Comment – Dollar recovers some poise, stocks hit new records

Posted on December 23, 2019 at 9:51 am GMT

Solid US data propel equities higher alongside the greenback Loonie stumbles as retail sales plunge, oil prices pull back Liquidity may remain thin overall, so any piece of news – or a tweet – might shake markets Dollar rebounds in quiet markets; stock rally in full swing It was a relatively quiet session in the FX market on Friday, as things started to wind down for the holiday season and news flow was thin. The overarching theme was an increased [..]

Daily Market Comment – Pound stumbles, franc and yen up as Johnson aims for hard Brexit

Posted on December 20, 2019 at 9:14 am GMT

Pound headed for large weekly loss as UK government pushes for speedy Brexit Hard Brexit fears support safe havens even as US and China move closer to signing trade deal US consumption and inflation data eyed before holiday lull Brexit moves closer to reality, unnerves markets UK Prime Minister Boris Johnson used his post-election Queen’s speech yesterday to unveil his Brexit agenda and reintroduce the Withdrawal Agreement bill to Parliament with some changes. The revised bill has all the indications [..]

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