AUDUSD

Technical Analysis – AUDUSD stuck in a sideways channel; bullish signals weak

Posted on August 21, 2019 at 1:36 pm GMT

AUDUSD continues to trade softly within a sideways channel for the third consecutive week with an upper boundary at 0.6820 and a lower boundary at 0.6745. The MACD in the four-hour chart has gained some strength above its red signal line, endorsing the current upside movement in the price, though the indicator is still close to zero, while the red Tenkan-sen remains flat around the blue Kijun-sen, both giving little hopes for a meaningful rally. The bulls need a decisive close [..]

Daily Market Comment – Stimulus hopes lift sentiment; dollar approaches 3-week highs

Posted on August 20, 2019 at 8:25 am GMT

Stocks extend gains as prospect of more stimulus overrides worries about fallout from trade war US dollar edges higher as Treasury yields recover; Fed minutes and Powell speech awaited Aussie firms on RBA minutes; euro struggles amid unease about Italy Global stimulus hopes continue to drive sentiment Growing signs that more governments and central banks around the worlds are taking measures to support their economies remained the main market driver on Tuesday. Most major indices in Asia closed around 1% [..]

Week Ahead – Fed minutes and Jackson Hole eyed for policy direction; ECB minutes and Eurozone PMIs also in focus

Posted on August 16, 2019 at 10:47 am GMT

The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come to the fore as world leaders attend a G7 summit in France. Aussie and kiwi to remain on the backfoot The Australian and New Zealand dollars have managed to steady [..]

Daily Market Comment – Markets steadier but recession fears persist; strong US data lifts dollar

Posted on August 16, 2019 at 8:19 am GMT

Stocks head higher as Trump trade comments and strong US retail sales calm markets But fears of a downturn persist as bond markets remain in dangerous territory Pound up on latest bid by UK opposition parties to thwart no-deal Brexit Stock market sell-off eases on positive headlines Stocks in Asia were mostly positive on Friday and European and US equity futures were also pointing to a firmer start following yesterday’s rebound in risk appetite. Sentiment was boosted from a surprise [..]

Technical Analysis – AUDUSD keeps range-bound trading below 0.6820

Posted on August 14, 2019 at 8:54 am GMT

AUDUSD was unable to crawl above the upper boundary of its narrow 0.6820-0.6745 range despite Tuesday’s encouraging trade news. In the short-term, the market may remain muted as the slow progress in the RSI and the gently rising MACD suggest a bearish-to-neutral bias, with the falling red Tenkan-sen also reducing the odds for an impressive gainful session. Yet the pause in the recent steep downfall and the following consolidation phase increase speculation that an upward correction may be nearing. A rally above the 0.6820 resistance may [..]

Daily Market Comment – Dollar and stocks rally in relief after tariff delays

Posted on August 14, 2019 at 8:10 am GMT

US tariff exemptions lift risk sentiment – stocks soar, yen retreats But optimism tempered by weak Chinese data overnight UK inflation data and Eurozone GDP coming up Trump’s tariffs delay revives risk appetite, but is this a game changer? Global risk sentiment came roaring back on Tuesday, with US stock markets closing 1.5% higher and WTI oil gaining 4%, after the Trump administration said it will delay tariffs on several Chinese products until December and exempt some goods altogether. [..]

Daily Market Comment – Hong Kong concerns keep risk aversion in play

Posted on August 13, 2019 at 8:24 am GMT

Safe havens shine and stocks retreat – mainly on fears about Hong Kong Deteriorating political outlook in Italy likely adding to risk aversion Busy calendar today, with crucial UK, German, and US data coming up Stocks stumble on reports China may crack down on Hong Kong protests Risk aversion was the name of the game on Monday, as worrisome political headlines triggered another rotation away from risky assets like stocks, and into the safety of havens like the Japanese [..]

Australian jobs data to be eyed for “turning point”, as aussie stumbles to 10-year lows – Forex News Preview

Posted on August 13, 2019 at 6:23 am GMT

Wage and employment data will be watched out of Australia this week as investors try to guess how many more rate cuts are on the cards for the rest of the year. The wage price index is released first on Wednesday at 01:30 GMT, with the employment numbers coming up on Thursday, also at 01:30 GMT. Given the huge weighting the Reserve Bank of Australia is attaching to developments in the labour market in setting monetary policy, the upcoming data [..]

China’s monthly data to reveal impact of trade fallout – Forex News Preview

Posted on August 12, 2019 at 2:23 pm GMT

The world’s second-largest economy reports retail sales, industrial production, and fixed asset investment data early on Wednesday. Forecasts point to a slowdown in most figures, which if met, could signal that the trade war has truly started to inflict pain – despite substantial stimulus. Alongside the yuan, the China-sensitive aussie will also keep an eye on these prints, though the bigger driver for both will probably be what happens next in the trade saga. China’s economy probably lost steam at [..]

Daily Market Comment – Sterling feels the burn; Trump plays trade ‘hardball’

Posted on August 12, 2019 at 7:58 am GMT

Sterling resumes downtrend as UK economy shrinks, Brexit fears intensify Yen extends gains after Trump says he isn’t ready to make a deal Calendar practically empty today, in a thin liquidity environment Pound feels the burn as UK economy contracts The British pound remains the ‘sick man’ of the FX market, plummeting to a new three year low against the euro on Friday, after the latest GDP figures showed that the economy contracted in Q2 for the first time since [..]

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