AUDUSD

European Open Preview – Pound swings wildly on May’s Brexit defeat; more votes to come

Posted on March 13, 2019 at 9:01 am GMT

Pound edges up, recovering from earlier sharp losses, as UK Parliament expected to vote against no-deal Brexit May’s yet another historic defeat leads equities into risk-off mood; global growth concerns and Boeing slump also weigh Aussie slips on weak consumer confidence Sterling likely to remain volatile as British MPs to vote on no-deal and delaying Brexit After rallying sharply to a high of $1.3288 yesterday, the pound dramatically reversed lower, hitting a low of $1.3003 as it became apparent that [..]

Technical Analysis – AUDUSD stretches below 23.6% Fibonacci; next level 0.70

Posted on March 13, 2019 at 7:31 am GMT

AUDUSD stretched slightly to the downside today, falling back below the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.6746, around 0.7070 and the Ichimoku cloud. The technical picture remains to the upside as the MACD is trying to post a bullish crossover with the trigger line, while the stochastic is approaching the overbought zone. Also, currently, the price is trading below the 20- and 40-simple moving averages (SMAs) in the daily timeframe and the red Tenkan-sen and [..]

Week Ahead – Another Brexit deadline looms; Bank of Japan meets

Posted on March 8, 2019 at 1:30 pm GMT

A vote in the British parliament could determine whether the Brexit deadline will be extended, while a Bank of Japan policy meeting will be another highlight for traders in the coming week. Economic indicators will also be watched closely amid renewed growth jitters as industrial output figures for January are reported in China, the Eurozone, the United Kingdom and the United States. Inflation numbers from the US will be the other main release. Chinese growth likely softened further at start [..]

European Open Preview – BoC throws in the towel, spotlight turns to ECB

Posted on March 7, 2019 at 8:57 am GMT

ECB meeting the main event today, focus will be on signals for loans to banks Loonie sinks to two-month lows as BoC abandons rate hike plans Elsewhere, stocks retreat without a clear catalyst – perhaps on profit taking Will the ECB join the chorus of dovish central banks today? All eyes will be on the highly-anticipated ECB policy decision today, and in particular on the updated economic forecasts and Draghi’s press conference at 13:30 GMT. The euro area economy continues [..]

As a trade deal moves closer, is China at risk of overstimulating its economy? – Special Report

Posted on March 6, 2019 at 3:40 pm GMT

Growth in China decelerated to the slowest pace since 1990 last year, underlining the challenges the country faces amid sluggish global demand and a more protectionist United States. China’s leaders haven’t been sitting on their hands, however, as an abundance of policy measures have been initiated since last summer when the first wave of US tariffs struck. But with the fiscal and monetary loosening being stepped up amid a continuing downtrend in growth, is the government risking undoing the progress [..]

European Open Preview – BoC decides as rate-hike bets evaporate; aussie drops

Posted on March 6, 2019 at 8:49 am GMT

Bank of Canada meets; markets seem to be expecting a major dovish pivot, which may not materialize US dollar rally revitalized by robust ISM index Aussie drops to two-month lows as RBA rate-cut expectations grow BoC decides as rate-hike bets evaporate The main event on Wednesday will be the Bank of Canada (BoC) rate decision. No action is expected, and since there is no press conference by Governor Poloz either, investors will scrutinize the accompanying statement for any policy hints. [..]

Technical Analysis – AUDUSD sell-off sharpens to 2-month lows

Posted on March 6, 2019 at 8:08 am GMT

AUDUSD stretched sharply on the downside on Wednesday to unlock a two-month low of 0.7027 after sliding sideways the past three days. The technical picture has also turned more bearish as the MACD deepened further in negative territory and below its red signal line, while the RSI has increased its speed southwards. The latter however is not far from its 30 oversold level, a sign that losses may not last for long. Should bearish action continue below the 0.70 mark, support could [..]

Markets could shrug off weak Chinese trade data after fiscal boost and as US deal edges closer – Forex News Preview

Posted on March 5, 2019 at 1:17 pm GMT

China will publish monthly trade numbers on Friday with exports seen to have fallen back in February after January’s unexpected surge. But with the country’s negotiators closing in on a trade deal with the United States and the government announcing further fiscal measures to stimulate growth in the economy, the trade figures may not generate much reaction even if it surprises to the downside. In January, exports jumped by 9.1% year-on-year as they were boosted from companies front-loading their shipments [..]

European Open Preview – Dollar rally in full throttle, but mind the speed bumps

Posted on March 5, 2019 at 8:58 am GMT

Dollar upswing continues unabated, but caution gradually warranted US stocks retreat after soft data, Chinese markets up on stimulus news RBA stays on hold, aussie yawns UK services and ISM non-manufacturing PMIs coming up today Dollar rally in full throttle, but speed bumps may lie ahead The US dollar registered another session of strong gains to kick off the week, gaining ground against all its major counterparts besides the defensive Japanese yen, which was the best performer as risk sentiment [..]

European Open Preview – Stocks bask in trade optimism; dollar advances

Posted on March 4, 2019 at 9:09 am GMT

Stocks cruise higher on reports that a trade deal is just around the corner Dollar advances, despite soft US data and ‘jawboning’ by Trump Loonie crushed as Canadian GDP disappoints, oil retreats Equities bask in trade optimism US stock markets closed higher on Friday, and futures suggest these indices will likely open in the green on Monday as well, fueled by renewed optimism that a US-China trade deal is just around the corner. Media reports over the weekend reinforced such [..]

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