AUDUSD

Week Ahead – After central banks and midterms, focus to move back to economic data

Posted on November 9, 2018 at 1:58 pm GMT

With central bank meetings and the US midterm elections out of the way, economic data will return to the forefront next week. Monthly stats on inflation, industrial output, employment and retail sales will dominate the calendar, while GDP numbers out of Japan will be watched for a possible contraction in Q3. Italian politics will also be on investors’ radar over the coming week as the country has until November 13 to submit a redraft of its budget or risk EU [..]

European Open Preview – Dollar cruises higher after FOMC; UK GDP in the spotlight

Posted on November 9, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar is little changed against a basket of six major currencies on Friday (+0.06%), consolidating the gains it recorded in the previous session as the Fed signaled it remains on track to meet its rate-path projections. Meanwhile, the defensive yen is outperforming, as risk appetite seems to have soured once again. In Canada, the loonie continued to track oil prices lower, touching a fresh two-month low against the dollar. STOCKS: Wall Street [..]

US Open Preview – Dollar remains bullish ahead FOMC rate decision

Posted on November 8, 2018 at 12:59 pm GMT

Here are the latest developments in global markets: FOREX: Expectations that the Fed will continue to signal further monetary tightening when it keeps rates steady at the conclusion of the FOMC meeting later today probably helped the dollar index to move higher by 0.22% as the market took a breath after the US midterm elections. Dollar/yen traded up by 0.13% at 113.66, near one-month highs. Meanwhile in the Eurozone, the European Commission revised the bloc’s economic growth for 2019 downwards to 1.9% y/y from 2.0% before, and [..]

European Open Preview – Dollar bounces back after midterms and ahead of Fed decision

Posted on November 8, 2018 at 8:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar index pared early losses to close the day higher on Wednesday and is also up by 0.27% on Thursday, drawing strength from a surge in US bond yields, which amplifies the dollar’s attractiveness from a relative rates perspective. In the UK, the pound extended its recent gains as Brexit optimism remained elevated. Meanwhile, the antipodeans – aussie and kiwi – outperformed, buoyed by strong risk appetite, speculation that the trade [..]

US Open Preview – Dollar’s rivals gain as US Congress split flags political noise; RBNZ rate decision awaited

Posted on November 7, 2018 at 12:48 pm GMT

Here are the latest developments in global markets: FOREX: As was widely anticipated, Democrats took control of the House and Republicans retained the majority in the Senate in the mid-term US elections. The dollar index opened with a gap down on Wednesday, slipping to a 2-month trough of 95.67 before inching up to 95.81 (-0.52%). Dollar/yen edged lower by 0.20% to 113.19 along with US Treasury yields after hitting a fresh 1-month high at 113.81 earlier in the day. The 10-year [..]

Chinese exports to start reflecting effect of tariffs? Aussie eyed too – Forex News Preview

Posted on November 7, 2018 at 10:12 am GMT

Chinese trade data for October are due on Thursday. The ongoing Sino-US trade dispute has rendered such releases somewhat more important, with the numbers likely to be scrutinized for any negative effects stemming from US tariffs. As is usually the case, the Aussie will also be attracting attention after the figures are made public due to the Australian economy’s heavy reliance on China; the currency is viewed as a liquid proxy for China-related “plays”. Analysts’ projections call for Chinese exports and [..]

European Open Preview – Split Congress keeps dollar bulls sidelined; RBNZ decision looms

Posted on November 7, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The dollar is lower by 0.28% against a basket of six major currencies on Wednesday, weighed down by the results of the US midterm elections, which produced a split Congress – dampening the prospect for any further tax cuts. Meanwhile, the pound continued its Brexit-induced march higher, while the kiwi dollar soared overnight, after a surprisingly strong employment report out of New Zealand. STOCKS: Wall Street closed in the green on Tuesday as [..]

Technical Analysis – AUDUSD remains above long-term falling trend line; indicators suggest bullish correction mode

Posted on November 7, 2018 at 7:34 am GMT

AUDUSD recorded a stunning rally last week, surpassing the long-term descending trend line. Earlier today, the pair reached a fresh six-week high of 0.7271 but returned quickly near its opening level. The price has almost violated the fall off 0.7314 turning somewhat neutral, with the technical indicators suggesting further upside to folllow up. Looking at the daily timeframe, the stochastic oscillator entered the overbought zone with strong momentum and the MACD oscillator jumped above its trigger and zero line. Moreover, the simple moving averages (SMAs) [..]

US Open Preview – Dollar finds resistance at 1-month highs vs yen; US midterm elections awaited

Posted on November 6, 2018 at 12:14 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar hit one-month highs against the yen at 113.44 on Tuesday but it soon lost ground returning to 113.13 (-0.06%) before the US midterm elections take place later today. The US dollar index, however, managed to climb by 0.14%, erasing some of yesterday’s losses on the back of a weaker euro and pound. Euro/dollar was steady at 1.1412 despite the upward revision in final Markit Services PMI figures for October [..]

European Open Preview – Dollar little changed ahead of US congressional elections

Posted on November 6, 2018 at 8:34 am GMT

Here are the latest developments in global markets: FOREX: The dollar was marginally higher versus a basket of currencies on Tuesday, after losing around 0.3% the previous day. Traders will be eyeing the US congressional elections as a potential driver for the world’s reserve currency during today’s trading. STOCKS: Wall Street finished the day mixed on Monday, with the Dow Jones (+0.76%) and the S&P 500 (+0.56%) advancing and the tech-heavy Nasdaq Composite (-0.38%) edging lower; Apple, Amazon, Google-parent Alphabet and Facebook were [..]

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