All Articles Tagged - AUDUSD

US Open Note – Greenback extends pullback before Powell’s testimony

Posted on July 14, 2021 at 1:02 pm GMT

Dollar declines ahead of Powell’s testimony Fed Chair Powell will today testify in front of the House, and tomorrow, he will testify in front of the Senate. Right now, his opinions are well-known and is expected to keep QE as open-ended as possible, but if the US data continues to heat up, the expectation is that something more conclusive will come at either the August Jackson Hole Symposium or the September 21-22 FOMC meeting. Fed Governor Daly stated yesterday that it is time to talk about tapering, and [..]

Daily Market Comment – US CPI spikes again, dollar rallies; kiwi surges too after RBNZ ends QE

Posted on July 14, 2021 at 8:59 am GMT

US inflation jumps again, sending stocks spinning and dollar and yields flying RBNZ shocks by halting bond purchases, kiwi soars as August rate hike eyed Powell testimony in the spotlight as Fed’s patience put to the test Markets settle down after another CPI shock Annual inflation in the United States hit a fresh 13-year high of 5.4% in June, surpassing the top estimates and casting doubt on the Fed’s narrative that this inflationary episode will be transitory. Month-on-month, both the [..]

What does China’s GDP mean for the aussie? – Forex News Preview

Posted on July 13, 2021 at 3:15 pm GMT

Economic growth numbers out of China will hit the markets at 02:00 GMT Thursday. The world’s second-largest economy seems to be losing momentum and Chinese authorities have responded by adding more liquidity to the financial system, which is a risky move. Besides the yuan, the upcoming data could also impact stock markets and the Australian dollar. Gamble The Chinese economy seems to be losing steam. Business surveys like the PMIs declined sharply in June, signalling a slowdown in growth as [..]

US Open Note – Stocks dip from record highs and dollar soars after CPI beat

Posted on July 13, 2021 at 1:50 pm GMT

Markets digest key US inflation data Market composure and the subdued volatility in the forex arena quickly faded as today’s US CPI data beat expectations. US major indices dived from their tops as much stronger inflation figures jolted markets, causing jitters in the currency markets as well, shaping into dollar-driven volatility throughout the forex arena. It will be interesting to see the rhetoric in Fed Chairman Jerome Powell’s testimony in the coming days relating to the recovery, price pressures and [..]

Daily Market Comment – Wall Street hits record before earnings kickoff, dollar holds firm

Posted on July 13, 2021 at 9:14 am GMT

Earnings optimism drives US equities to fresh record highs ahead of bank results Risk appetite still shaky in FX markets, dollar and yen resist deeper selloff US inflation data and Powell testimony will be key in directing sentiment Wall Street rallies as reopening boost eyed It’s the start of the second quarter earnings season and optimism is running high that the reopening of the US economy will power corporate earnings to new peaks. The new season will properly kick off [..]

Technical Analysis – AUDUSD buyers kept at bay; downside risks persist

Posted on July 12, 2021 at 2:02 pm GMT

AUDUSD’s simple moving averages (SMAs) and lately the 50-period SMA, along with the Ichimoku cloud’s lower surface have managed to curb amplified buying interest off the 0.7400 level. The Ichimoku cloud and the shielding SMAs are silencing attempts by buyers to recoup previously lost ground. Currently, the short-term oscillators are skewed to the downside, with negative momentum fixed to become the clear frontrunner. The MACD is dipping back down ahead of the zero level, looking set to dive back below [..]

US Open Note – Dollar soars ahead of busy week; commodities ease

Posted on July 12, 2021 at 12:35 pm GMT

Dollar’s strong move drives euro lower Ahead of a busy week, the dollar is moving higher against a basket of currencies. Dollar/yen is holding above the 110.00 handle, developing within the short-term simple moving averages (SMAs), while US futures are mixed before the market opens. Euro/dollar is slipping below the 1.1850 level as ECB President Lagarde warned investors to expect new monetary stimulus guidelines in the next ten days and hinted that more measures to help the euro-area economy may [..]

Daily Market Comment – Risk appetite runs into trouble again as virus cases trend higher

Posted on July 12, 2021 at 9:24 am GMT

Worries that Delta variant is fuelling a new global surge in infections sap sentiment Dollar halts decline, edges up, while stocks back under pressure Bonds to stay in focus as Treasury auctions, CB meetings, Powell testimony coming up Subdued start to week as virus woes return Risk assets were struggling on Monday as signs that virus infections have started to creep higher globally put a dent in the improvement in sentiment that took hold from the middle of last week. [..]

Week Ahead – RBNZ and BoC to stay on taper path but Delta strain may cause angst for BoJ

Posted on July 9, 2021 at 10:53 am GMT

It will be a busy week as the Bank of Canada, Bank of Japan and the Reserve Bank of New Zealand all meet, while inflation will take centre stage on the data front. With increasing concerns that the new Delta Covid variant could scupper reopening plans around the world, Japanese policymakers are the most likely to strike a more cautious tone, but the BoC and RBNZ will probably maintain their optimism for now. After the Federal Reserve signalled that a [..]

Technical Analysis – AUDUSD stuck on the bearish side; trend signals unfavorable

Posted on July 8, 2021 at 7:08 am GMT

AUDUSD is pointing to the downside again after its bullish attempts to close above the red Tenkan-sen line at 0.7531 and run beyond the 0.7600 resistance vanished on Tuesday. The RSI has reversed course as well, unable to create a higher high in the bearish territory, while the MACD has resumed its negative momentum below its red signal line, both painting a blurry picture for short-term trading. Of note, the 20- and 200-day simple moving averages (SMAs) have completed a bearish cross for [..]

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