AUDUSD

European Open Preview – Dollar roars higher; Wall Street stabilizes, for now

Posted on May 30, 2019 at 8:20 am GMT

Dollar remains king as major peers continue to lack appeal Stocks calm down after drop, but perhaps only temporarily BoC stands pat, loonie drops as officials keep a lid on optimism Dollar reigns over FX market, nears 2-year highs The world’s reserve currency remains the undisputed king of the FX market, as investors continue to favor dollar-denominated assets amidst worries that the conflict between Washington and Beijing is slowly morphing into a new cold war. The greenback outperformed even the [..]

European Open Preview – Stocks slip as trade worries intensify; BoC decides

Posted on May 29, 2019 at 9:40 am GMT

Equities drop, safe havens soar as trade outlook darkens Bank of Canada meets today – may be a touch more optimistic Aussie resilient despite trade woes & RBA rate cut bets Trade woes return to haunt stocks; yen & dollar cruise higher Risk appetite turned sour again on Tuesday, as British and American traders returned to their desks after a long weekend and were met by more worrisome trade news. Recent reports citing Chinese officials suggest the real reason the [..]

Technical Analysis – AUDUSD regains some ground above 0.69

Posted on May 29, 2019 at 6:25 am GMT

AUDUSD is regaining some losses after the violent sell-off towards the four-month low of 0.6864 in the prior week, sending prices above the red Tenkan-sen line and the 23.6% Fibonacci retracement level of the downfall from 0.7390 to 0.6746. The RSI is currently increasing positive momentum towards its neutral threshold of 50 after an exit from overbought levels, while the MACD is heading north in negative territory, both hinting that the next move in prices could be on the upside [..]

Australian Q1 capex expected to be soft, reinforce RBA rate cut bets – Forex News Preview

Posted on May 28, 2019 at 10:25 am GMT

Capital expenditure figures from Australia will be watched on Thursday (due at 01:30 GMT) as they will be a prelude to Q1 GDP estimates released the following week. With market expectations running high that the RBA will cut rates at its next meeting, a feeble reading would almost certainly fuel such bets. Having formed a floor after its recent slide, the Australian dollar appears at risk of breaking below this support as rate cut odds increase. Economic data out of [..]

European Open Preview – Euro slips as EU threatens Italy with fine; dollar edges higher

Posted on May 28, 2019 at 8:14 am GMT

Euro slips back below $1.12 on reports the EU could fine Italy with $4 billion penalty over high deficit Dollar supported by risk-off even as Treasury yields fall back towards 19-month lows Stocks buoyed by M&A news, hopes of more Chinese stimulus Euro on the backfoot again as Italy faces EU fine The euro’s bounce from yesterday’s results of the election for the European Parliament proved short-lived as the row over Italy’s high budget deficit came back to haunt the [..]

Week Ahead – US PCE inflation, BoC meeting and Aussie Q1 capex eyed amid rising risk aversion

Posted on May 24, 2019 at 9:58 am GMT

As trade tensions continue to simmer and there’s no end in sight to the Brexit turmoil, risk sentiment will probably remain the biggest driver for forex markets in the coming week. But there will still be several market-moving events for investors to keep a watch on. PCE inflation numbers from the United States, Canadian Q1 GDP estimates and a Bank of Canada meeting, as well as capital expenditure figures from Australia will be the main highlights. Aussie to stay on [..]

European Open Preview – Dollar retreats as rate-cut bets grow; yen soars

Posted on May 24, 2019 at 8:16 am GMT

Wall Street tumbles, yen soars on growth and trade concerns Dollar pulls back on mounting expectations for Fed easing Sterling catches its breath as May prepares to set departure date Risk sentiment takes a hit as soft PMIs revive growth worries Risk aversion dominated markets on Thursday, as alarming PMI data from major economies coupled with deepening US-China trade tensions amplified concerns around global growth. Preliminary Markit PMIs from both the US and Europe disappointed, highlighting that trade worries are [..]

European Open Preview – Sterling suffers as knives come out for Theresa May

Posted on May 23, 2019 at 8:11 am GMT

Sterling hammered on expectations PM May could resign soon German PMIs disappoint – euro may stay under pressure Risk aversion deepens as markets fear ‘new cold war’ Fed minutes reaffirm neutral stance, dollar advances No reprieve for sterling as May fights for political survival The British pound continues to be hammered by political uncertainty, with the leader of the House of Commons – Andrea Leadsom – resigning from the cabinet yesterday in protest to the government’s Brexit approach. The move [..]

European Open Preview – Pound unimpressed by Brexit plan; Fed minutes due

Posted on May 22, 2019 at 8:09 am GMT

Pound surrenders gains to trade lower after May unveils Brexit plan Fed minutes today may boost the dollar a little Stocks advance on Huawei relief, but risks still heightened Sterling not convinced by May’s ‘last Brexit push’ The British pound briefly spiked higher yesterday, before surrendering all its gains to trade even lower, after PM May laid out her modified Brexit deal. In an attempt to win over votes from opposition parties and pro-EU moderates, she proposed giving Parliament a [..]

Technical Analysis – AUDUSD bears face big challenge below 0.69

Posted on May 22, 2019 at 6:39 am GMT

AUDUSD held losses over the last five days, dropping to a new four-month low of 0.6864 last Friday and penetrating the descending triangle formation to the downside. The RSI in the 4-hour chart continues to lack direction near the oversold area, while the red Tenkan-sen keeps flattening below the blue Kijun-sen line, reducing chances for a meaningful recovery in the short-term trading. The MACD oscillator is strengthening its negative momentum below the trigger and zero lines. If the price closes comfortably below the 0.6864 support, traders could add more pressure to the pair, pushing [..]

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