AUDUSD

RBA meeting and GDP data up next, as aussie licks its wounds – Forex News Preview

Posted on December 2, 2019 at 1:27 pm GMT

The Reserve Bank of Australia (RBA) will complete its latest meeting at 03:30 GMT on Tuesday, and markets expect no action this time. The aussie’s reaction will therefore depend on the signals for future rate cuts. Judging by the deterioration in recent data, policymakers are likely to strengthen their easing bias, which could exacerbate the currency’s losses. GDP data for Q3 and retail sales for October will follow on Wednesday and Thursday respectively, at 00:30 GMT. Dark clouds The clouds [..]

Daily Market Comment – Yen skids on upbeat China data even as trade deal faces delay

Posted on December 2, 2019 at 9:16 am GMT

Markets in risk-on mood on better-than-expected Chinese manufacturing PMIs Still plenty of caution though, as US and China struggle to conclude ‘phase one’ deal Pound slips as Tories’ poll lead narrows further Oil bounces back after Iraq says deeper cuts to be discussed at OPEC+ meeting Sentiment lifted by rebound in Chinese factory activity December got off to a positive start after data over the weekend and on Monday showed manufacturing output in China unexpectedly rose in November. China’s official [..]

Week Ahead – US jobs report could further bolster dollar; RBA and BoC meetings eyed

Posted on November 29, 2019 at 12:13 pm GMT

Central bank meetings and the US jobs report will kick off the final month of 2019 next week, energising the markets as many traders return from the Thanksgiving break in the United States. The nonfarm payrolls report will of course be the main highlight as a positive print there could further add to the improving picture for the US economy, fuelling the dollar. But the ISM manufacturing and non-manufacturing PMIs will also be key in directing the greenback in the [..]

Daily Market Comment – All quiet on the currency front, but key data could spice things up

Posted on November 29, 2019 at 9:43 am GMT

Currencies trade in narrow ranges without news – pound retreats a little Euro area inflation data today may disappoint, spelling more pain for euro Is OPEC ‘managing’ market expectations ahead of next week’s meeting? British pound the sole mover in quiet markets It was a very uneventful session across financial markets, with little to speak of in terms of news and with most currencies trading in awfully tight ranges as American traders stayed home for Thanksgiving. A notable exception [..]

Daily Market Comment – Dollar and stocks jump, but trade worries keep investors on edge

Posted on November 28, 2019 at 10:12 am GMT

Solid US data dispel economic slowdown concerns, send dollar & stocks up Yet, optimism takes a hit after Trump signs Hong Kong bill, enraging China Sterling lifted by Yougov model projecting a clear Conservative victory Dollar and stocks climb on strong data, but China worries curb optimism Worries that the American economy may be headed for a recession took a breather yesterday, after the latest batch of US data beat forecasts, sending the dollar higher alongside Treasury yields as traders [..]

Technical Analysis – AUDUSD eases sideways as 23.6% Fibonacci continues to halt declines

Posted on November 27, 2019 at 12:58 pm GMT

AUDUSD’s descent seems to have paused yet again at the 0.6767 level, which is the 23.6% Fibonacci retracement of the down move from 0.7081 to 0.6670, turning the pair sideways. Further backing this view is the squeeze in the Bollinger bands and the flattening in the 50- and 200-period simple moving averages (SMAs). The short-term oscillators reflect the stalling in the negative outlook. The MACD remains in the negative area but above its red trigger line, while the RSI indicates [..]

Daily Market Comment – Trump keeps the trade hype train rolling, stocks levitate

Posted on November 27, 2019 at 9:35 am GMT

Equities power ahead on more trade optimism, but FX and bond markets remain skeptical In Britain, a crucial model-based poll may reveal how close the election will be Packed calendar today, with an avalanche of US data coming up US stocks ascend to new heights as Trump hypes trade deal The hype train that has pushed Wall Street to new records time and time again just keeps on rolling, with all three of the major US stock indices ascending to [..]

Australian capex figures in scope as trade doubts return – Forex News Preview

Posted on November 26, 2019 at 2:24 pm GMT

The aussie has continued to struggle, as doubts about a US-China trade deal resurfaced and the US dollar staged a comeback. The nation’s capital expenditure data for Q3 – due at 00:30 GMT on Thursday – may shed some light on whether the RBA will cut rates again, but the biggest driver for the aussie will be what happens next in the unstable trade war. Overall, the risks surrounding the currency appear asymmetric, with a ‘phase one’ deal bringing only [..]

Daily Market Comment – Stocks hit new records, but currencies quiet

Posted on November 26, 2019 at 9:57 am GMT

Markets stay in ‘risk-on’ mode amid positive trade headlines, but risks mounting? Pound pares gains as polls show Labour closing the gap on Tories Light calendar today: tier-two US data and central bank speakers US stocks ride the trade hype train, cruise to new highs The bullish sentiment that enveloped financial markets on Monday persevered, with investors drawing hope from encouraging headlines surrounding the trade talks. The latest reports from Chinese media suggested the two sides have reached a “broad [..]

Daily Market Comment – Dollar powers higher; trade hopes boost risk appetite

Posted on November 25, 2019 at 9:43 am GMT

Greenback soars after latest PMIs reaffirm US economic outperformance Risk appetite recovers as China reportedly prepares to crack down on IP issues Pound slips on soft PMIs, but recovers as polls show Tories extending lead Dollar rips higher after promising PMIs, capitalizes on euro softness The world’s reserve currency outperformed on Friday, after the preliminary US Markit PMIs for November rose by more than anticipated, prompting traders to scale back bets that the Fed will cut rates in the coming [..]

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