AUDUSD

Technical Analysis – AUDUSD maintains a neutral to positive short-term outlook

Posted on February 5, 2019 at 10:01 am GMT

AUDUSD erased some gains after it touched the 200-day simple moving average (MA) last week, but the uptrend started in early January is still intact, with the 20-day MA suggesting that the positive tendency may hold in place as the line managed to jump back above the 50-day MA early this month. In momentum indicators, the MACD is gaining strength above its red signal line, while the RSI is moving sideways since the start of the month together with the red Tenkan-sen line. Hence [..]

European Open Preview – Neutral RBA lifts aussie; Wall Street advances

Posted on February 5, 2019 at 8:46 am GMT

Stocks climb while haven assets tumble, without any fresh catalyst Aussie outperforms after RBA wasn’t as dovish as markets expected Today, services PMIs from both the UK and US will dictate the action Stocks advance, yen crumbles as “no news is good news” Global risk appetite returned on Monday, in the absence of any material news or fresh fundamental catalysts to speak of. US stock markets recorded decent gains, with the benchmark S&P 500 (+0.68%) closing at a two-month high, [..]

RBA to tell the same story but with different language – Forex News Preview

Posted on February 4, 2019 at 3:15 pm GMT

Following the Fed, the RBA comes next in line to decide on monetary policy. The first meeting of 2019 at 0330 GMT on Tuesday is expected to extend the historic period of inaction to 29 months, though with the Fed, the world’s most influential central bank, shifting outlook to neutral, speculation is swirling that Australia’s central may appear more dovish this time. The event will be followed by a speech from the RBA governor, Philip Lowe, on Wednesday (0130 GMT) and updated economic forecasts [..]

European Open Preview – Dollar steady despite healthy US data; RBA in focus

Posted on February 4, 2019 at 9:08 am GMT

Dollar unable to rally even after US payrolls smash expectations Risk sentiment mostly in positive territory today amid trade optimism Aussie on the back foot ahead of RBA decision Dollar unimpressed by strong US data, as Fed casts shadow Nonfarm payrolls smashed expectations in January, clocking in at a robust 304k, much higher than the anticipated 165k – though last month’s print was revised down significantly, mitigating some of the good news. Wage growth held steady at 3.2% in annual [..]

Week Ahead – BoE and RBA next to set rates; will they turn dovish too?

Posted on February 1, 2019 at 2:29 pm GMT

The Bank of England and the Reserve Bank of Australia will be next in the central bank world to set monetary policy amid rising risks and uncertainty about the outlook. It will be relatively quiet on the data front as Chinese markets will be shut for the whole week for the Lunar New Year celebrations, while the US economic calendar will be void of top tier releases. RBA to hold rates; may lower growth forecasts The Australian dollar will take [..]

European Open Preview – Dollar looks to payrolls; euro halted in its tracks

Posted on February 1, 2019 at 8:46 am GMT

The US employment report takes center stage today; dollar may be at risk Euro turns lower as Italy enters recession, Weidmann strikes dovish tone US stocks advance amid “progress” in trade talks Dollar rebounds, turns its sights to US employment data The dollar shaked off some of its post-FOMC weakness against a basket of six major currencies, mainly because the euro retreated (see below). There was little in terms of US catalysts, but that changes today, as the all-important jobs [..]

European Open Preview – Dollar suffers losses as Fed abandons hiking plans

Posted on January 31, 2019 at 8:53 am GMT

Fed removes guidance for more hikes; dollar crumbles, stocks soar Trade talks conclude today – any signs of progress crucial for markets Eurozone releases GDP data, risks seem skewed to the downside Dollar drops, stocks roar as Fed folds on further rate hikes While the Fed kept rates unchanged as expected yesterday, the meeting wasn’t short of surprises. Policymakers adopted an even more cautious tone, dropping the reference that further gradual rate hikes will be needed, instead reiterating the mantra [..]

Chinese manufacturing PMIs eyed amid sharp slowdown fears – Forex News Preview

Posted on January 30, 2019 at 9:49 am GMT

China will publish the official government manufacturing PMI gauge on Thursday at 01:00 GMT, with the private Caixin/Markit manufacturing PMI following on Friday at 01:45 GMT. The official PMI contracted in December for the first time since July 2016, confirming a deepening slowdown in the world’s second largest economy. A second straight month of contraction would likely add to investor jitters about the growth outlook for 2019 and could increase pressure on Chinese authorities to find a quick resolution to [..]

Technical Analysis – AUDUSD surpasses bullish cross of SMAs; still negative in long term

Posted on January 30, 2019 at 9:37 am GMT

AUDUSD has come under renewed buying interest earlier today finding a strong support level on the bullish crossover between the 20- and 40-simple moving averages (SMAs) in the daily timeframe. After the significant bullish rally from the decade low of 0.6746, the pair is consolidating above the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.6746, around 0.7070 and below the 0.7235 resistance. Momentum indicators now suggest that the market sentiment might get better as the RSI is reversing back to the upside in positive area. [..]

European Open Preview – Brexit stays in limbo; Fed decision eyed

Posted on January 30, 2019 at 9:00 am GMT

Fed decides; Powell’s remarks on the balance sheet may be crucial Pound slides as Brexit uncertainty seems set to remain elevated US-China trade talks commence; plethora of earnings and data also due FOMC meeting – emphasis on Powell’s balance sheet remarks The main event today will be the Fed policy decision at 1900 GMT, which will be followed by a press conference from Chairman Powell – as will every meeting from now on. No change in policy is expected, and [..]

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