AUDUSD

Daily Market Comment – Fed’s ‘hawkish’ cut propels dollar higher; BoE next

Posted on August 1, 2019 at 8:36 am GMT

Fed cuts by 25bp, but appears hesitant to commit to more Dollar soars to two-year high versus euro, may have more room to gain for now BoE likely to adopt a more dovish tone at today’s meeting Stocks retreat after Fed, despite “constructive” trade talks Not-so-dovish Fed sends dollar soaring As expected, the Federal Reserve cut rates by 25 basis points (bp) yesterday, citing global growth and trade uncertainties coupled with muted inflation pressures as the driving forces behind the [..]

Daily Market Comment – Fed rate decision dominates a busy agenda

Posted on July 31, 2019 at 7:51 am GMT

Dollar may gain briefly if Fed only cuts rates by 25bp today Stocks feel the heat as Trump cranks up the trade rhetoric Flurry of key data due out of the Eurozone, US, and Canada Fed meeting: One cut at a time The main event for today will be the FOMC rate decision at 18:00 GMT, which will be followed by a press conference from Chairman Powell. The central bank is virtually certain to slash rates, so the real question [..]

Technical Analysis – AUDUSD bounces on key support level; MACD still bearish

Posted on July 31, 2019 at 7:05 am GMT

AUDUSD bears got exhausted near the key 0.6864 support level early on Wednesday, with the fast-Stochastics pointing to a price reversal as the green %K line has already crossed above the red %D line in the oversold territory and seem to be turning higher. The fact that the price has been repeatedly touching the lower Bollinger band in the past few sessions is also an indication that upside corrections may soon take place. The MACD, however, has yet to show any sign of improvement, reducing [..]

Daily Market Comment – Sterling pummeled by Brexit blues

Posted on July 30, 2019 at 8:37 am GMT

Sterling crumbles as no-deal rhetoric heats up – outlook still negative Bank of Japan takes no action, yen likes it German and US data due; trade talks resume Pound collapses as Boris plays ‘chicken’ with EU There’s no reprieve for the wounded British pound, which fell to a fresh 2½-year low against the dollar earlier today, following another round of worrisome Brexit rhetoric. Boris Johnson and his lieutenants reiterated that the Irish backstop is “dead”, with Foreign Secretary Raab saying [..]

Australian inflation to inch higher but unlikely to stop RBA from cutting rates further – Forex News Preview

Posted on July 30, 2019 at 8:27 am GMT

Australia will publish quarterly inflation data on Wednesday at 01:30 GMT amid a stepping up by the Reserve Bank of Australia in its efforts to spur price growth. The RBA has cut rates twice since June on slowing economic growth and stubbornly low inflation and so the latest readings on the consumer price index (CPI) will be dissected for clues on the prospect of additional easing by the central bank. The Australian dollar is looking highly vulnerable ahead of this [..]

Daily Market Comment – Dollar lifted by US GDP, eyes Fed and trade talks; pound tumbles on no-deal Brexit risk

Posted on July 29, 2019 at 8:13 am GMT

US dollar at 2-month peak on US GDP beat, doubts about aggressive Fed easing cycle Cautious start to big week for central banks and US-China trade talks Pound tumbles to 28-month low as new UK PM sets ground for no-deal Brexit Dollar holds firm ahead of Fed The US dollar held onto Friday’s gains at the start of the trading week following the boost from better-than-expected US growth figures for the second quarter. The American economy grew by an annualized [..]

Week ahead – Fed, BoJ, and BoE meet ahead of US payrolls

Posted on July 26, 2019 at 9:37 am GMT

Investors will be glued to their screens next week, with a plethora of central bank meetings and an avalanche of data releases set to provide ample excitement. The Fed is certain to slash rates, though probably only by a quarter-point, which may briefly lift the dollar given expectations for even more aggressive action. The BoJ and BoE are both likely to soften their tones, while in the euro area, growth and inflation data may decide how forcefully the ECB acts [..]

Daily Market Comment – Euro rebounds from lows after ECB disappoints; dollar holds firm

Posted on July 26, 2019 at 7:58 am GMT

ECB pledges more stimulus but euro bounces back from 2-year lows as no change this month disappoints US dollar climbs to 2-month highs as odds of 50-bps cut fade on solid US data Pound heads back down again after EU rejects Johnson’s request to renegotiate backstop Euro off lows but subdued The euro was steadier on Friday following yesterday’s volatility in response to the European Central Bank’s highly anticipated monetary policy meeting. The ECB kept policy unchanged on Thursday, though [..]

Daily Market Comment – Euro area PMIs disappoint; Dollar powers through competition

Posted on July 24, 2019 at 8:45 am GMT

Euro area PMIs disappoint, raising bets for a dovish ECB tomorrow US dollar outperforms, without any clear catalyst Euro/franc falls below 1.10 – will the SNB intervene soon? Euro slips as disappointing PMIs fuel ECB bets Preliminary PMI data out of France and Germany for June have just been released, and were disappointing overall. While the service sector numbers were more or less in line with forecasts, the manufacturing figures fell substantially, with the French print touching the neutral 50 [..]

Technical Analysis – AUDUSD extends downside below 20-day SMA

Posted on July 24, 2019 at 8:40 am GMT

AUDUSD drifted lower after hitting a three-month high of 0.7081, slightly above the 50% Fibonacci level of the steep downleg from 0.7392 to 0.6745. The bearish move has driven the price back into the Ichimoku cloud and below the 20-day simple moving average (SMA), increasing speculation that the softness may stay in place in the short-term. Meanwhile in momentum indicators, the signals are neutral-to-negative as the RSI is exiting the bullish territory, while the MACD seems to be losing ground [..]

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