AUDUSD

Week Ahead – Aussie in focus as GDP and RBA awaited; BoC and Riksbank also meet; US jobs report eyed too

Posted on August 31, 2018 at 1:03 pm GMT

The Australian dollar will fall under the spotlight next week as a raft of data is due to be published out of Australia and the Reserve Bank of Australia holds a policy meeting. However, central bank meetings in Canada and Sweden, where near-term policy changes are on the cards, pose bigger risks for traders than the RBA’s. Monthly job reports will also be vying for attention as both the US and Canada release their respective figures for August. Also important [..]

US Open Preview – Trade fears hold major currencies in the red; loonie weakens as NAFTA deadline looms

Posted on August 31, 2018 at 11:59 am GMT

Here are the latest developments in global markets: FOREX: Trump’s stubborn stance the previous day aiming to enhance US’s trade protective measures against China and keep the pressure on the EU, shifted funds away from riskier assets, pushing dollar/yen down to 110.78 (-0.16%) and dollar/franc to 0.9666 (-0.23%). The dollar index, which is set to close in the red for the third consecutive week, was slighlty up at 94.80 (+0.08%) as the euro and the pound felt the trade pain as well. Euro/dollar inched down to 1.1647 [..]

European Open Preview – Risk appetite turns sour on trade angst; eurozone inflation due with Brexit also in focus

Posted on August 31, 2018 at 7:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was down on Friday, albeit by less than 0.1%, giving back some of the gains it posted in the previous session. Elsewhere, the Japanese yen advanced across the board on Thursday, as trade concerns led investors to increase their exposure to the safe-haven currency. Meanwhile, the euro and the loonie retreated, weighed on by concerns surrounding Italy and disappointing Canadian data respectively. STOCKS: US equities fell for the first time in five days as [..]

US Open Preview – Pound’s rally takes a breather after Barnier’s cautious remarks; US core PCE inflation pending

Posted on August 30, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: Pound/dollar stalled yesterday’s rally, trading at 1.3016 (-0.08%) as the EU’s Brexit negotiator Michel Barnier talked down expectations of a Brexit deal today, saying that the bloc must be prepared for a “disorderly” exit. His comments came a day after he said that the UK could be offered a special partnership “such that has never been with any other country”. Euro/dollar was struggling to overcome the 1.1700 level, last seen at 1.1694 (-0.09%) [..]

Chinese PMIs coming up with trade concerns still in the background – Forex News Preview

Posted on August 30, 2018 at 9:33 am GMT

Chinese official PMI data for August are due on Friday at 0100 GMT. Manufacturing activity, which is expected to gather the most interest, is anticipated to ease for the third straight month, though to yet again remain in growth territory. Beyond data releases, US-China trade considerations are still at play, with any updates likely to prove market-moving. Figures out of the world’s second largest economy are projected to show manufacturing PMI standing at 51.0 in August, below July’s 51.2 and at its lowest since February. Despite declining in recent months, it [..]

European Open Preview – Barnier gives the pound a helping hand; US core PCE inflation coming up

Posted on August 30, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar is flat against a basket of six major currencies on Thursday, after it closed lower for a fourth consecutive session yesterday. The biggest mover was the British pound, which soared higher following comments from the EU’s chief Brexit negotiator suggesting that Europe is willing to offer the UK a special deal. Meanwhile, the kiwi plunged overnight after New Zealand’s latest business confidence data disappointed, amplifying expectations for a more [..]

US Open Preview – Sterling bounces in quiet markets; trade updates awaited

Posted on August 29, 2018 at 11:21 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was up by 0.14% on Wednesday, drawing support from a robust reading on US consumer confidence yesterday, and looking set to snap a three-day losing streak. Against the euro, the dollar gained 0.21%, while it was practically flat against the Japanese yen. Meanwhile, the British pound was in recovery-mode, with investors seemingly brushing aside reports suggesting UK Brexit Secretary Raab is frustrated that EU chief negotiator Barnier is [..]

Aussie looks to Australian capex data for direction after political drama – Forex News Preview

Posted on August 29, 2018 at 8:57 am GMT

The Australian Bureau of Statistics will publish data on capital expenditure for the second quarter on Thursday at 1:30 GMT, giving investors a glimpse to GDP performance during the period. A small pick up in private new capital expenditure is forecast by analysts. However, with persistently low inflation still being the Reserve Bank of Australia’s primary concern, Thursday’s figures are unlikely to make much impact on monetary policy. Nevertheless, a solid release could help the Australian dollar extend its recovery [..]

European Open Preview – Loonie advances amid trade optimism; updated GDP estimates due out of the US

Posted on August 29, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.10% against a basket of six major currencies on Wednesday. Even though the currency was on the back foot for most of the trading session on Tuesday, it managed to recover nearly all of its losses following the release of upbeat US consumer confidence data. Elsewhere, the loonie continued to advance amid optimism that a resolution to the NAFTA renegotiations may be inching closer. STOCKS: Wall Street closed higher yet [..]

Technical Analysis – AUDUSD lacks clear direction in short-term; long-term downtrend intact

Posted on August 29, 2018 at 7:04 am GMT

AUDUSD has lost its positive momentum after the rebound on the 20-month low of 0.7200 on August 15, trading sideways between 0.7236 and 0.7380. In the short-term, the market could retain the range-bound trading as the RSI holds near its 50 neutral mark and the MACD remains around zero and close to its red signal line. The bearish trend though could stay in place given that prices continue to fluctuate below the Ichimoku cloud. Still, the bullish doji created around 0.7200 makes an uptrend possible. [..]

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