AUDUSD

European Open Preview – Trump threatens new tariffs, markets retreat

Posted on May 6, 2019 at 8:24 am GMT

Stocks fall, yen soars as Trump hints at new tariffs Dollar retreats after jobs data, but trade concerns provide support Sterling rebounds amid hopes for Brexit progress Trump warns of new tariffs on China, dents risk appetite Risk aversion is the name of the game on Monday, with investors diverting funds away from riskier assets like stocks and towards safe havens such as the Japanese yen, amid fears that the US-China trade conflict is ready to re-escalate. President Trump said [..]

Week Ahead – Aussie and kiwi braced for dovish RBA and RBNZ meetings; UK Q1 GDP also eyed

Posted on May 3, 2019 at 12:32 pm GMT

Central bank policy meetings in Australia and New Zealand will be the main focus next week with investors anticipating a further dovish tilt. Out of all the central banks that have turned dovish this year, the Reserve Bank of New Zealand is the most likely to cut rates and analysts are predicting a move as early as next week. In terms of economic indicators, UK growth figures for the first quarter will be the most important release followed by US [..]

European Open Preview – Dollar rally eases, looks to US jobs report for further impetus

Posted on May 3, 2019 at 8:07 am GMT

US dollar extends gains ahead of today’s nonfarm payrolls report Aussie hits 4-month low as odds rise of RBA rate cut next week Oil prices slump on oversupply concerns as US output continues to surge Dollar stands tall ahead of NFP report There was little to hold back the US dollar on Friday as recent solid US data and a not-so-dovish Fed have lessened the odds of a rate cut before the year-end. Investors sharply adjusted their rate cut bets [..]

European Open Preview – Dollar whipsaws after Fed; Pound holds firm ahead of BoE

Posted on May 2, 2019 at 8:05 am GMT

US dollar swings sharply after Powell tones down Fed’s dovish statement Hawkish Powell puts dent on equities rally Pound holds near highs ahead of Bank of England meeting as hopes rise May will agree to a customs union Rate cut bets ease after Powell’s press conference The Federal Reserve kept interest rates on hold yesterday as expected and the dollar initially fell on the announcement as the FOMC statement highlighted the recent decline in inflation. However, the greenback quickly reversed [..]

Technical Analysis – AUDUSD still consolidates in a sideways channel; hovers near 0.7000

Posted on May 2, 2019 at 7:17 am GMT

AUDUSD has been struggling in a tight range over the last three months with upper boundary the 0.7200 psychological level and lower boundary the 0.7000 handle. During the preceding week the price tried to break lower, posting a new four-month low of 0.6987, but it failed once again to end the day below the consolidation area. Currently, the pair is trading below the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.6746 around 0.7070 and the Ichimoku cloud, [..]

European Open Preview – Dollar buoyant ahead of Fed, but caution elsewhere amid mixed growth signals

Posted on April 30, 2019 at 8:06 am GMT

Solid US growth and muted inflation boosts US dollar and Wall Street But other majors sag as disappointing Chinese PMIs revive growth fears Fed to start two-day monetary policy meeting, unlikely to alter stance Dollar eases from 22-month high but remains supported ahead of FOMC meeting The US currency was outperforming its peers early on Tuesday as there was further evidence on Monday that growth in the world’s largest economy is picking up speed. Personal consumption in the US rose [..]

Week Ahead – Fed, NFP, Eurozone GDP and BoE to inject life into subdued FX markets

Posted on April 25, 2019 at 11:53 am GMT

After a lacklustre couple of weeks for foreign exchange markets, trading volumes are expected to return to somewhat more normal levels over the next seven days with plenty of risk events on the horizon. But with many European markets shut on Wednesday for Labour Day and Japan closed for the entire week, liquidity might still be in short supply. The US currency and economy will remain at the fore as the Federal Reserve holds a policy meeting and the all-important [..]

European Open Preview – King dollar returns as investors flee euro, loonie

Posted on April 25, 2019 at 8:33 am GMT

Dollar index soars to 2-year high as euro, commodity currencies suffer BoC remains on hold but abandons rate-hike bias; loonie drops BoJ commits to low rates until 2020 but yen snoozes ‘King dollar’ returns as euro and antipodeans lose their shine The world’s reserve currency advanced across the board on Wednesday, with the dollar index soaring to 2-year highs, even without any US-specific catalyst. Instead, the greenback capitalized on weakness in other major currencies, most notably in the euro, aussie, [..]

European Open Preview – BoC may disappoint bears; US stocks hit records

Posted on April 24, 2019 at 8:02 am GMT

Bank of Canada may not be as dovish as markets expect today US stocks close at new record highs on blockbuster earnings Dollar rallies amid demand for US equities Aussie suffers after disappointing CPIs fuel rate-cut bets BoC: Cautious, but less than markets expect The main event today will be the Bank of Canada (BoC) policy decision at 14:00 GMT. No change in policy is expected, so price action will depend on the language of the accompanying statement, the updated [..]

Technical Analysis – AUDUSD posts strong sell-off near 7-week low

Posted on April 24, 2019 at 6:34 am GMT

AUDUSD is recording its third day of losses with strong momentum, reaching a seven-week low at 0.7026 earlier today. The price plunged beneath the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.6746, around 0.7070 and the Ichimoku cloud in the daily timeframe, suggesting a retest of the 0.7000. If the price pauses around the latter level this would confirm the sideways channel with upper boundary 0.7200 and lower boundary 0.7000. The short-term bias looks negative as the [..]

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