AUDUSD

Technical Analysis – AUDUSD retreats below 20-day SMA; bearish bias in short and medium term

Posted on July 18, 2018 at 6:35 am GMT

AUDUSD has eased sharply to the downside this week and the 0.7475 resistance level acted as a strong obstacle for the bulls in the preceding weekly session. Moreover, the pair dipped below the 20-day simple moving average (SMA) early in European session today, signaling further downside pressures. The short-term technical indicators in the daily timeframe are bearish and point to more weakness in the market. The RSI indicator is sloping downwards and stands below the threshold of 50, while the MACD oscillator is strengthening again its [..]

Aussie turns its sights to Australia’s jobs data, as trade tensions take a break – Forex News Preview

Posted on July 17, 2018 at 2:12 pm GMT

Australian employment data for June will hit the markets on Thursday, at 0130 GMT. The forecast is for another solid jobs report, which would confirm the RBA’s view that the labor market continues to tighten and could help the aussie rebound somewhat. Besides economic data, the other major consideration for the battered Australian currency will be how global trade tensions evolve. Australia’s labor market had been on a tear throughout 2017, posting robust and consistent gains, though the pace of [..]

US Open Preview – Dollar firmer versus yen ahead of Powell’s testimony

Posted on July 17, 2018 at 11:39 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading higher at 112.48 against the Japanese yen (+0.20%) ahead of the Federal Reserve Chairman Jerome Powell’s semi-annual testimony on the economy and monetary policy. Overall, the dollar index was weaker against a basket of six major currencies (-0.03%) and is set to post the third consecutive negative day. Pound/dollar touched a session high of 1.3267 after the Office for National Statistics revised April’s average earnings index (including bonuses) from [..]

European Open Preview – Dollar pulls back ahead of Powell’s testimony; UK jobs data in focus

Posted on July 17, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by 0.14% on Tuesday, ahead of a testimony by Fed Chairman Jerome Powell before the US Senate at 1400 GMT. Elsewhere, kiwi/dollar is up by 0.77%, following encouraging core inflation data out of New Zealand overnight. STOCKS: US markets closed mixed on Monday. While the Dow Jones managed to advance by 0.18%, the S&P 500 and the Nasdaq Composite edged lower by 0.10% and 0.26% respectively. Something similar appears [..]

US Open Preview – Dollar weakens ahead of US retail sales; oil on the backfoot

Posted on July 16, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading below the 6-month high of 112.79 today against the Japanese yen, but managed to add some gains to its daily performance (+0.02%) ahead of the release of the US retail sales later in the day. The dollar index, which gauges the greenback’s strength versus six major currencies, moved lower by 0.24%. Pound/dollar rebounded sharply from near the 1.3101 barrier on Friday and drove the price even further to 1.3265 (+0.24%) on Monday. Meanwhile, euro/dollar climbed [..]

European Open Preview – Pound rebounds ahead of busy week; US retail sales in the spotlight

Posted on July 16, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.1% on Monday, extending the losses it posted in the previous session as longer-term US Treasury yields tumbled. The Japanese yen, meanwhile, is slightly lower against all its major counterparts on Monday, amid a lack of escalation in trade tensions. STOCKS: US markets closed higher on Friday, as trade concerns remained out of the spotlight. The Dow Jones led the way up, gaining 0.38%, while the S&P 500 advanced [..]

Week Ahead – China GDP eyed amid escalating trade row; inflation data to dominate

Posted on July 13, 2018 at 12:43 pm GMT

China will publish second quarter growth figures next week, putting the focus on China’s economy which has been under attack by the Trump administration. Inflation numbers from Canada, Japan, New Zealand and the United Kingdom will also come under the spotlight, as well as employment reports out of Australia and the UK. It will be a quieter week for the United States where only a handful of releases are due, but investors will be watching for President Trump’s next move [..]

US Open Preview – Dollar bulls remain in control ahead of Fed chief’s prepared remarks

Posted on July 13, 2018 at 11:31 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index (+0.38%) continued its march higher during the European trading session on Friday, with little in the way of fresh news to guide price action. It is currently trading near 95.18, and if the bulls remain in control, it could soon test its highs for the year at 95.53. Reflecting the strength in the US currency, euro/dollar is down by 0.42% at 1.1622. Dollar/yen, although having surged earlier in [..]

European Open Preview – Yen retreat in full swing amid signs of trade negotiations looming

Posted on July 13, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is up by almost 0.1% on Friday, building on the gains it posted in the previous session. The yen, meanwhile, is losing ground against all its major counterparts amid an absence of any worrisome news on the trade front, touching a fresh six-month low against the dollar. STOCKS:US markets closed higher on Thursday, buoyed by the absence of an immediate retaliation from China against the latest US tariff salvo, as [..]

Aussie eyes raft of Chinese data as trade tensions lurk in the background – Forex News Preview

Posted on July 12, 2018 at 12:21 pm GMT

China will release its monthly trade balance data during the Asian session Friday, which will be followed by the nation’s quarterly GDP figures for Q2 early on Monday, alongside fixed asset investment, industrial production, and retail sales prints. The aussie – widely viewed as a liquid proxy for “China plays” – will be firmly in focus when these data are released, with the ongoing escalation in trade tensions between the US and China also a major consideration for its near-term [..]

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