AUDUSD

Week ahead – Markets set to quiet down, despite tug of trade war

Posted on August 9, 2019 at 12:00 pm GMT

It may be a quiet week in financial markets, with no central bank meetings or any other major events on the agenda, as the summer lull finally kicks in. Economic data will therefore attract most of the attention, though any tweets on the trade war or Brexit news could always stir things up. British data unlikely to be a game-changer for the pummeled pound The UK economy continues to feel the heat, with GDP growth contracting in Q2, as Brexit [..]

Daily Market Comment – China exports rise helps markets stabilize; yen holds near highs

Posted on August 8, 2019 at 8:23 am GMT

Positive trade data out of China lifts sentiment but stocks recover only modestly Aussie and kiwi bounce off lows, US dollar struggles for direction Markets spooked by global slump in government bond yields; gold jumps China posts surprise increase in exports China reported unexpectedly strong export numbers on Thursday, adding some cheer to a gloomy market environment. Exports were up 3.3% annually in July, beating forecasts of a 2.0% drop. Imports also came in at a better-than-expected -5.6%, suggesting domestic [..]

China’s exporters could have a painful summer as trade game turns more defensive – Forex News Preview

Posted on August 7, 2019 at 12:54 pm GMT

China played its exchange rate weapon this week to prove that it has the means to fight a tougher trade war with the US, but the Chinese government, like its major counterparts, also needs a solid economic floor to survive a bigger turmoil. Hence, trade and inflation data out of the country early on Thursday and Friday could be treated as clues on whether the world’s second biggest economy should proceed with more stimulus to enhance its financial dynamics. China’s exports to keep falling, [..]

Daily Market Comment – Kiwi plunges on shock RBNZ cut; stocks sell-off eases on Kudlow remarks

Posted on August 7, 2019 at 8:19 am GMT

New Zealand dollar nosedives after RBNZ cuts rates by bigger-than-expected 50 basis points Yen and Swiss franc turn back up after yuan slips again Stocks end losing streak after Kudlow keeps alive prospect of more trade talks Kiwi slumps to 3½-year low on shock RBNZ move The Reserve Bank of New Zealand surprised markets on Wednesday by delivering a hefty 50-bps cut in its official cash rate (OCR), confounding analysts and traders who were expecting a smaller 25-bps cut. This [..]

Technical Analysis – AUDUSD collapses to decade lows after breaking 0.6745

Posted on August 7, 2019 at 7:17 am GMT

AUDUSD managed to clear the 0.6745 support level that kept the bears on hold the past two days, with the price falling rapidly to a new 10 ½-year low of 0.6676 early on Wednesday. The trend signals remain negative as the price has further distanced itself below its negatively sloped simple moving averages (SMA) and the Ichimoku cloud. Yet in momentum indicators, the stochastics and the RSI suggest that the downfall is overstretched and hence the negative momentum could stall in the near term. Immediate resistance [..]

Daily Market Comment –Yuan steadies after US brands China currency manipulator; stocks slide again

Posted on August 6, 2019 at 8:18 am GMT

Yen and Swiss franc retreat after yuan steadies as US labels China a currency manipulator Global stocks extend slide as US-China tensions continue to heat up Aussie and kiwi firmer as RBA keeps rates on hold, RBNZ coming up next Euro perks up but pound under pressure Yuan off lows on PBOC midpoint The risk-off moves engulfing currency markets since President Trump’s decision last Thursday to slap more tariffs on Chinese goods eased on Tuesday with the help of a [..]

Daily Market Comment – Yen and gold soar; yuan sinks as trade war savages markets

Posted on August 5, 2019 at 8:26 am GMT

Safe havens such as the yen and gold surge as heated trade tensions extend broad sell-off in risk assets Yuan breaks past 7 per dollar level as PBOC gives green light to a weaker currency US dollar mixed as Fed rate cut expectations rise again Market rout deepens, yen rallies The fallout from the latest escalation in the US-China trade dispute continued to be felt across financial markets on Monday as investors sold off stocks and emerging market currencies [..]

Week Ahead – RBA and RBNZ to keep up rate-cut rhetoric; UK and Japan to post Q2 GDP

Posted on August 2, 2019 at 1:33 pm GMT

It will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand to next announce their latest policy decisions following a busy week for central banks. New Zealand will also see the release of the quarterly employment report and jobs figures are due out of Canada too. The highlight for the United Kingdom and Japan will be GDP growth numbers for the second quarter, and in China, the monthly trade and inflation releases will [..]

RBA to stay on hold for now, as aussie takes a tumble – Forex News Preview

Posted on August 2, 2019 at 11:01 am GMT

The Reserve Bank of Australia is due to announce its next policy decision on Tuesday at 0430 GMT and is widely expected to keep interest rates unchanged, pausing after two consecutive cuts. However, with the Australian dollar coming under heavy selling pressure over the past week, its clear investors are anticipating more reductions in the months ahead. Hence, the language in the RBA’s statement will be carefully examined for clues about the likely scale of future cuts. RBA to pause [..]

Daily Market Comment – Stocks sink as Trump escalates trade war; US payrolls due

Posted on August 2, 2019 at 8:17 am GMT

Equities plunge, yen skyrockets as trade war fears heighten Nonfarm payrolls may present a one-sided risk for the dollar today Chance of UK General Election rises as Johnson’s working majority slips Risk aversion takes over markets as Trump threatens new tariffs American equities erased some early gains to close about 1% lower yesterday, after the US President took the trade war with Beijing to the next level – announcing that he will impose a 10% tariff on all remaining products [..]

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