AUDUSD

Technical Analysis – AUDUSD at fresh decade lows; vulnerable to more downside

Posted on October 2, 2019 at 7:22 am GMT

AUDUSD slumped to a fresh 10 ½-year low of 0.6670 on Tuesday, signaling that the more-than-a-year bearish wave is here to stay, with the negative direction in the RSI and the MACD backing this view as well. The next support to downside movements could emerge within the 0.6565-0.6500 area, while lower the bears should break a tougher wall around 0.6400 to stretch the decline towards the 0.6280-0.6248 restrictive zone, taken from the lows in 2009. On the upside, there are [..]

RBA to slash rates for the third time as data disappoint – Forex News Preview

Posted on September 30, 2019 at 3:02 pm GMT

The Reserve Bank of Australia (RBA) is setting interest rates on Tuesday at 04:30 GMT and markets expect another rate cut as key metrics continue to miss targets while external risks keep lingering in the background. Yet not all signs point to more easing as there is something Australia is not proud of and other counterparts do not face intensely, and this is called: household debt. While the Australian upward-moving trade surplus indicates surprisingly that there is not much damage coming from [..]

Daily Market Comment – Trade war goes financial

Posted on September 30, 2019 at 8:59 am GMT

Markets stay in risk-off mode as US considers financial sanctions against China Kiwi drops to new 4-year low after weak business confidence numbers Pound tumbles on hints of BoE rate cut, but may get some relief from politics Sentiment turns sour on fears trade war may spread into finance The main story on Friday was that the Trump administration is examining whether to restrict US financial flows into China. According to reports, Washington is considering delisting Chinese companies from [..]

Week Ahead – RBA expected to cut again; US jobs report and September PMIs in focus too

Posted on September 27, 2019 at 10:30 am GMT

More central bank meetings will follow in the coming week, this time with the Reserve Bank of Australia, while things will heat up a little on the data front as September PMIs are on the agenda, as well as the all-important US jobs report. Although investors have recently pared some of their bleakest outlook for global growth and recession risks have receded somewhat, the incoming data will nevertheless be watched closely as trade tensions could flare up at any moment. [..]

Daily Market Comment – Trade rollercoaster keeps sentiment fragile; dollar climbs

Posted on September 27, 2019 at 8:00 am GMT

Stocks retreat on trade doubts, but short-term outlook still positive Euro weakens amid ECB easing speculation, dollar capitalizes Flood of US data due out today, but trade issues more important for greenback Stocks pull back on reports US is unlikely to extend Huawei waivers Market moves were relatively muted on Thursday, as investors remained hesitant to increase their exposure until they get a better grip on the various risks currently at play, most notably the Trump impeachment threat and the [..]

Daily Market Comment – Dollar soars as impeachment worries fade, trade optimism returns

Posted on September 26, 2019 at 8:35 am GMT

Renewed trade optimism and fading impeachment concerns lift dollar & stocks One of the biggest ECB hawks resigns; Draghi speaks today RBNZ Governor plays down prospect of QE, lifts kiwi Dollar and equities shoot up as Trump says a trade deal may be close Global risk sentiment improved drastically on Wednesday, as a combination of optimistic trade remarks and diminishing fears of a US presidential impeachment saw investors rotate back into riskier assets. The market’s mood started to improve after [..]

Technical Analysis – AUDUSD decline restricted around 23.6% Fibonacci

Posted on September 25, 2019 at 9:47 am GMT

AUDUSD has plotted a bullish harami cross pattern around 0.6770, which is the 23.6% Fibonacci retracement of the down leg from 0.7081 to 0.6676. The pattern suggests that the recent plunge from September 18 that has steered out of the Ichimoku cloud may be coming to an end, backed, also by the bullish cross. The 40-, 100- and 200-day simple moving averages (SMAs) endorse the negative picture, while the MACD is underneath its red trigger line and has slipped marginally [..]

Daily Market Comment – Trump impeachment risk scares stocks; UK Parliament returns

Posted on September 25, 2019 at 8:35 am GMT

Trump impeachment probe dampens sentiment, but is the market overreacting? Pound cheers Supreme Court ruling, but retreats on Corbyn’s remarks RBNZ holds its fire, kiwi briefly spikes higher Risk aversion engulfs markets as Trump faces impeachment enquiry Sentiment in financial markets turned sour on Tuesday, as a double whammy of trade and political risks blindsided investors, triggering a rotation away from riskier assets like equities and towards defensive ones such as the yen and Swiss franc. The initial catalyst [..]

Daily Market Comment – UK Supreme Court decision eyed ahead of RBNZ meeting

Posted on September 24, 2019 at 8:24 am GMT

UK Supreme Court rules at 09:30 GMT whether Parliament’s suspension was lawful – upside risk for sterling? RBNZ rate decision due early on Wednesday; kiwi may briefly spike higher US stocks recover after upbeat manufacturing PMI, but safe havens tell another story UK Supreme Court to rule on Johnson’s suspension of Parliament It will be an eventful day in Britain, as the nation’s Supreme Court will decide whether Boris Johnson’s choice to suspend Parliament for five weeks was lawful, or [..]

Daily Market Comment – Euro reels after dismal PMIs, but don’t panic yet

Posted on September 23, 2019 at 8:26 am GMT

Euro drops after German PMIs suggest recession ahead – but there may be good news there too Trump’s trade remarks dampen risk appetite Oil prices jump on reports that Saudi output may be offline for longer Euro reels as preliminary PMIs paint a gloomier picture The single currency is on the back foot early on Monday, following the release of the preliminary French and German PMIs for September, which signaled that more pain lies ahead for the European economy. All [..]

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