AUDUSD

Week ahead – Flurry of key data eyed as markets digest Powell’s cautiousness

Posted on July 12, 2019 at 11:45 am GMT

After Fed chief Powell all but guaranteed a July cut, things could quiet down a little next week, as the agenda is dominated by economic data. Growth figures from China may shed light on how much damage the trade war has inflicted, while in the US, retail sales numbers will be among the final pieces of the puzzle before the next Fed meeting. Inflation stats from New Zealand and Canada are also on tap, with some UK data perhaps attracting [..]

China’s Q2 GDP growth to pave way for more stimulus – Forex News Preview

Posted on July 11, 2019 at 3:50 pm GMT

GDP growth accompanied by industrial production, retail sales and urban investment readings will be out of China on Monday at 0200 GMT. Given the cloudy conditions on the trade front, the data are expected to reinforce speculation that extra stimulus may be needed to stabilize the economy in the coming months. The last time the Chinese economy picked up steam was in the first quarter of 2017 when expansion topped at 6.9% on a yearly basis. Since then, GDP growth has been [..]

China’s export data to shed light on trade war damage – Forex News Preview

Posted on July 10, 2019 at 9:06 am GMT

Trade figures from the world’s second-largest economy will be released early on Friday, with forecasts pointing to a modest contraction in both exports and imports. Markets will scrutinize exports in particular, for any signs of damage from the recent escalation in the trade war. Besides the yuan, the China-sensitive aussie could also react to these data. The trade ‘ceasefire’ between the US and China that was agreed in late June was greeted with relief in the markets, as it at [..]

Daily Market Comment – All eyes on Powell as markets seek rate cut confirmation; dollar at 3-week high

Posted on July 10, 2019 at 8:08 am GMT

Powell’s testimony awaited as investors seek clues on rates following mixed data US dollar continues to advance higher as odds of 50 basis points cut are erased Pound and aussie extend declines on rising rate cut expectations Bank of Canada expected to hold rates Markets are praying for a dovish Powell Fed Chairman Jerome Powell’s testimony will be today’s and the week’s focal point as investors attempt to gauge how dovish policymakers will be when they meet for their next [..]

Technical Analysis – AUDUSD creates red days below short-term MAs

Posted on July 10, 2019 at 6:33 am GMT

AUDUSD has lost its short-term positive momentum over the last four days after the bounce off the 0.7050 resistance barrier. The market could retain the downward movement as the RSI dropped beneath the 50 level but is flattening and the MACD oscillator is weakening below the trigger line and near the zero line. Should the pair stretch south, the 23.6% Fibonacci retracement level of the downleg from 0.7390 to 0.6746 near 0.6900 could be the immediate support level, slipping beneath [..]

Daily Market Comment – Dollar holds firm as Fed rate signals awaited; pound slips to 6-month lows

Posted on July 9, 2019 at 8:21 am GMT

Dollar remains buoyant as investors re-evaluate Fed rate cut bets Focus on Fed as FOMC minutes and Powell testimony eyed for clarity on rates Pound slips to fresh 6-month lows ahead of key UK data amid slowdown fears Dollar edges higher on fading expectations of an aggressive Fed The US dollar was heading towards three-week highs against a basket of currencies on Tuesday as investors pared back their expectations that the Federal Reserve would soon embark on an aggressive easing [..]

Daily Market Comment – Dollar surges after strong US jobs report but stocks slide

Posted on July 8, 2019 at 8:06 am GMT

US dollar roars higher on surprise jump in US payrolls But stocks are sold off as investors trim expectations of aggressive Fed rate cuts Attention now turns to Powell’s semi-annual testimony in Congress for policy clues Strong US jobs report puts dollar back in the front foot The US dollar was trading close to Friday’s highs today when it surged on the back of a much better-than-expected nonfarm payrolls report. The US economy added 224k jobs in June, significantly higher [..]

Daily Market Comment – US payrolls could decide how deep Fed cuts in July

Posted on July 5, 2019 at 8:24 am GMT

US employment data today will be crucial for Fed rate-cut expectations and the dollar Canadian jobs figures also due, as loonie touches new 2019 high In Europe, bond markets continue to price in QE, but euro snoozes US payrolls may dictate how deep Fed cuts in July and dollar’s path After a relatively quiet session on Thursday, the spotlight will fall on the US employment data today. Markets are still pricing in a ~25% probability for a ‘double’ rate cut [..]

Daily Market Comment – US stocks sail into uncharted waters; loonie shines

Posted on July 4, 2019 at 8:00 am GMT

American equities soar to record highs, as ‘bad news is good news’ again Loonie advances to best levels this year on Fed-BoC policy divergence Trump calls for weaker dollar, but dollar yawns US stocks hit new records American equity markets sailed into uncharted waters yesterday, with all the major indices – the S&P 500 (+0.77%), Dow Jones (+0.67%), and Nasdaq Composite (+0.74%) – closing at new record highs. In a classic case of ‘bad news is good news for stocks’, [..]

Daily Market Comment – Lagarde to succeed Draghi at ECB; US data eyed

Posted on July 3, 2019 at 8:34 am GMT

Lagarde to take over ECB after Draghi; markets bet on more QE BoE’s Carney strikes dovish tone, drags pound down Oil retreats as traders ‘sell fact’ after OPEC US ADP jobs and ISM non-manufacturing to drive dollar today IMF’s Lagarde chosen as next ECB chief In an otherwise quiet session on Tuesday, the biggest piece of news was that EU leaders finally reached a consensus on who to nominate for the Union’s top jobs. German defense minister Ursula von der [..]

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