AUDUSD

European Open Preview – Pound advances as May survives; ECB meeting eyed

Posted on December 13, 2018 at 8:39 am GMT

Sterling advances as PM May survives leadership contest, but sustained rally unlikely ECB meets today; Draghi’s tone will be crucial for the euro SNB meets as well, likely to maintain a dovish stance Meanwhile, reports China may open its economy boost risk sentiment Pound soars as May survives, but odds of a sustained rally slim Sterling surged on Wednesday, as it became increasingly clear throughout the session that PM May would survive the no-confidence motion, amid a plethora of Tory [..]

European Open Preview – Pound under pressure as Tories trigger leadership contest

Posted on December 12, 2018 at 9:12 am GMT

Sterling near 20-month lows as Conservative lawmakers trigger no-confidence vote in Theresa May; ballot to be held today Risk appetite recovers as Trump and China stoke hopes for a deal Euro remains on the back foot ahead of tomorrow’s ECB meeting US inflation data on tap Sterling crumbles as Tories trigger leadership challenge The British pound sank to a fresh 20-month low versus the dollar on Tuesday, following reports that “rebels” within Theresa May’s Conservative party nearly have the numbers [..]

Technical Analysis – AUDUSD pauses bearish rally in short-term; indicators turn positive

Posted on December 12, 2018 at 7:35 am GMT

AUDUSD is paring some of the previous week’s losses, surpassing the 40-day simple moving average (SMA). However, the price returned back below the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.7020, near 0.7285 after it created a new peak at 0.7390, a four-month high. While the technical indicators continue to pick up speed, mirroring the market’s bullish behavior over the past two days, the RSI is still moving in the negative zone, but is pointing up, flagging [..]

Aussie eyes China’s trade and inflation data – Forex News Preview

Posted on December 7, 2018 at 1:34 pm GMT

Over the weekend, China will release its trade and inflation data for November. Forecasts point to a slowdown in both exports and imports, as well as in inflationary pressures. Such figures could amplify speculation that trade-related uncertainty is starting to weigh on the world’s second largest economy and potentially hurt the yuan, as well as the aussie, which is considered a liquid proxy for “China plays”. China’s exports are anticipated to have grown by 10.0% on a yearly basis in [..]

European Open Preview – Risk sentiment sours; OPEC summit front and center

Posted on December 6, 2018 at 8:33 am GMT

Risk appetite crumbles as US arrests Huawei CFO, generating worries of re-escalation in the trade conflict Today, all eyes are on OPEC’s meeting (1200 GMT); expectations for a production cut are elevated Loonie nosedives to a 1½-year low as BoC shifts to a more cautious stance Risk appetite falters on fears of “trade war” re-escalation After a relatively calm Wednesday, risk appetite deteriorated once more during the Asian session on Thursday, following news that the CFO of the Chinese tech [..]

Strategy update: The trade ‘truce’, the Fed’s possible pause and May’s Brexit woes

Posted on December 5, 2018 at 3:06 pm GMT

Markets unconvinced by Trump-Xi trade rapprochement The Fed could slow rate hikes Market braces for Brexit turbulence as May struggles to convince Parliament Markets unconvinced by Trump-Xi trade rapprochement A major theme for global markets and the global economy is the uncertainty caused by the frictions between the United States and China. It was therefore an initially positive piece of news that the two countries would restart a new round of negotiations that would last for 90 days, that China would pledge to import [..]

Technical Analysis – AUDUSD stops at 4-month highs; positive risks not faded yet

Posted on December 5, 2018 at 7:50 am GMT

AUDUSD reached overbought levels according to the RSI and reversed lower just before touching the 200-day simple moving average (SMA) on the daily chart, creating a new peak at 0.7392, a four-month high. While the aforementioned technical indicator continues to slow down, mirroring the market’s bearish behavior over the past three days, the indicator is still moving in bullish territory, flagging that a recovery could reemerge in the short term. The MACD is also holding above its red signal line, which supports the bullish view [..]

European Open Preview – Markets retrace as trade optimism wanes

Posted on December 4, 2018 at 8:58 am GMT

Trade optimism fades as markets digest the agreement Dollar extends recent pullback Oil continues to recover amid speculation for an OPEC cut RBA slightly more upbeat, but no policy change in sight Stocks edge higher on trade relief, but optimism wanes The boost to global risk appetite following the US-China trade “ceasefire” seems to have been short-lived. Even though US stock markets closed higher, they did surrender a decent part of their gains late in the session, and futures tracking [..]

RBA interest rate decision and Australian GDP growth next on agenda– Forex News Preview

Posted on December 3, 2018 at 4:19 pm GMT

In all likelihood, the Reserve Bank of Australia will keep interest rates at record lows once again on Tuesday at 0330 GMT as the Bank is still monitoring slow progress in household income. A day later, GDP growth figures for the third quarter will come into light (0030 GMT) but analysts do not see expansion picking up speed, justifying somewhat the RBA’s cautious stance. The RBA chief, Philip Lowe, believes that higher interest rates require higher wage growth for consumers to afford increased costs [..]

European Open Preview – Risk-on sentiment resumes as trade storm eases

Posted on December 3, 2018 at 9:37 am GMT

Stocks up, dollar down as trade fears ease French President Macron under political pressure but euro heads up Brexit risks loom in the background Oil surges as Russian President backs production cuts; Qatar to withdraw OPEC membership Stocks head higher on trade relief The US President, Donald Trump, and the Chinese leader, Xi Jinping had progressive trade talks during their dinner on the sidelines of the G20 summit on Saturday, with the world’s largest economies deciding to ceasefire the [..]

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