AUDUSD

Daily Market Comment – Britain votes; Lagarde makes her ECB entrance

Posted on December 12, 2019 at 10:05 am GMT

UK election firmly in the spotlight as voting begins – results early on Friday ECB meets today, though any major market reaction is unlikely Fed signals no rate cuts in 2020, but Powell still talks the dollar down Brits elect their new government – lopsided risks for pound? The day of political reckoning has finally arrived for the United Kingdom. The much-anticipated general election will be held today, and the result will decide what form Brexit takes, whether there’s a [..]

Daily Market Comment – Fed meets, new ‘dot plot’ could lift dollar

Posted on December 11, 2019 at 9:21 am GMT

Fed to stay on hold today; dollar may get a mild boost if ‘dots’ show no cuts in 2020 Sterling retreats as model-based poll saps hopes for a Tory majority Risk aversion fades after reports Washington may postpone upcoming tariffs Fed on hold, all eyes on the new ‘dots’ The spotlight will fall on the Federal Reserve today, which will conclude its policy meeting at 19:00 GMT. After slashing rates at the last three meetings, policymakers are now expected to [..]

Technical Analysis – AUDUSD looks for improvement within descending channel

Posted on December 11, 2019 at 8:30 am GMT

AUDUSD declined to close below the Ichimoku cloud and the short-term downward-sloping channel on Tuesday, with the price changing direction slightly north and back into the 0.6800 area. Technically, the rebound in the RSI and the pause in MACD’s negative momentum is an encouraging signal for the next move in the price. However, as long as the indicators remain in bearish territory there is always a risk to the downside and therefore a potential for a retest of the 0.6800 area. [..]

Daily Market Comment – Currencies take a breather ahead of risk events, stocks retreat

Posted on December 10, 2019 at 10:03 am GMT

FX market stays quiet as news flow dries up and traders await Fed decision tomorrow Pound perks up as Tories maintain poll lead; Yougov model today at 22:00 GMT may be critical Currencies snooze, equities retreat as investors position for risk events It was a very quiet session for financial markets, with most major currency pairs trading in tight ranges and ending little changed overall, without any major news to drive the price action. Stocks inched lower, with the [..]

Daily Market Comment – Dollar jumps on solid NFP; markets brace for huge week

Posted on December 9, 2019 at 9:35 am GMT

Greenback and stocks cheer after blockbuster jobs report, but yen tells a different story Loonie nosedives on weak employment data, despite higher oil prices Calendar is low key today, but week is packed: Fed, ECB, UK election, tariff decision Dollar shoots higher as nonfarm payrolls smash expectations It was all about the US employment data on Friday, which easily beat forecasts. Nonfarm payrolls clocked in at 266k, much higher than the expected 180k, with last month’s print also revised up. [..]

Daily Market Comment – US employment data to dictate mood; OPEC can’t lift oil

Posted on December 6, 2019 at 9:35 am GMT

Spotlight falls on the US jobs report today; risks around dollar asymmetric Is European fiscal stimulus not a pipe dream after all? OPEC pledges deeper production cuts, but oil doesn’t ‘buy it’ In Britain, Boris Johnson debates Jeremy Corbyn for the final time Nonfarm payrolls: Mind the asymmetry The main event today will be the US employment report for November, due at 13:30 GMT. Forecasts point to another solid data set, with nonfarm payrolls (NFP) expected to clock in at [..]

Daily Market Comment – Markets climb on hopes Trump is bluffing; pound soars

Posted on December 5, 2019 at 12:40 pm GMT

Risk appetite returns on reports suggesting Trump was just posturing on trade Pound surges as election polls show Tories consolidating their lead Loonie climbs on less-dovish BoC signals, looks to OPEC meeting Optimistic trade headlines breathe life back into riskier assets US stock markets snapped a three-day losing spell on Wednesday, with the S&P 500 gaining 0.63% on the back of a report claiming that American and Chinese negotiators are “moving closer” to agreeing the amount of tariffs that would [..]

Technical Analysis – AUDUSD’s ascent dwindles ahead of downtrend line

Posted on December 4, 2019 at 10:16 am GMT

AUDUSD seems to be turning neutral – in a bigger negative picture – as it nears the downtrend line drawn from December 4. The price is currently resting at the 0.6810 point where the mid-Bollinger band, 50- and 100-day simple moving averages (SMAs) have converged, suggesting that the price may linger sideways to encounter the downtrend line. Further backing the undecided picture are the mixed signals from the SMAs and short-term oscillators. The MACD, in the negative zone has moved [..]

Daily Market Comment – Markets rattled as Trump says “no deadline” for trade deal; gold jumps

Posted on December 4, 2019 at 9:30 am GMT

Risk mood darkens after Trump hints he’s in no hurry to sign trade deal with China US bill on China’s treatment of Muslim minorities further raises tensions between the two countries Safe havens soar as stocks and Treasury yields slide US ISM non-manufacturing PMI awaited; BoC decision eyed too Trump sends markets spinning as trade deal hopes fade Risk sentiment was dealt another blow on Tuesday after US President Donald Trump dampened hopes of an early resolution to the long-running [..]

Daily Market Comment – Dollar sinks on Trump tariffs and poor ISM PMI

Posted on December 3, 2019 at 8:57 am GMT

Trump expands trade war by imposing tariffs on South American metal imports Renewed trade frictions and unexpectedly weak ISM manufacturing PMI dampen sentiment Stocks turn negative; dollar plunge lifts euro Aussie jumps as RBA remains in wait-and-see mode; kiwi rallies too Trump ratchets up trade war by announcing tariffs on metal imports The long-running trade war took another twist yesterday after President Trump shocked markets by announcing tariffs on aluminium and steel imports from Brazil and Argentina. Citing the “massive [..]

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