All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD crawls above 200-SMA but eyes remain on 0.7600

Posted on June 24, 2021 at 6:39 am GMT

AUDUSD has been on a recovery mode this week, slowly erasing the slump to an eight-month low of 0.7476, which shot the price out of the 0.7531 – 0.8006 range area and put the market in a soft downward path. The pair is currently aiming to extend its positive momentum above the 200-day simple moving average (SMA), with the RSI and the Stochastics backing the bullish attempt as the indicators are sloping upwards again after hitting a bottom in the oversold [..]

US Open Note – Dollar unlocks new yearly high versus yen; oil posts new high

Posted on June 23, 2021 at 12:53 pm GMT

Dollar/yen flies above 111.00; US futures in red As markets wait for US Markit preliminary readings at 13:45 GMT, the dollar is edging higher. After two red days, the dollar index is practically unchanged below 92.00. The US dollar continues to rise versus the Japanese yen, creating new highs for the year, jumping above 111.00. Following Powell’s remarks, stocks rallied; however, US futures are currently trading flat on Wednesday. The single currency is heading above $1.19 but is still stuck [..]

Daily Market Comment – Fed aftershock deepens in equities but dollar pauses for breath

Posted on June 21, 2021 at 9:09 am GMT

Fed’s normally dovish Bullard sees 2022 rate hike, Wall Street crumbles Rout stretches on but dollar rally eases, gold catches a bid Markets dreading key Fed speakers this week including Powell US yield curve flattens, roils markets The US yield curve flattened further on Monday as investors continued to adjust their rate hike bets, steepening the short end of the curve while pushing long-term borrowing costs sharply lower. Markets are still coming to terms with last week’s FOMC bombshell when [..]

Week Ahead – Fired up dollar looks to PCE inflation; flash PMIs and BoE eyed too

Posted on June 18, 2021 at 12:28 pm GMT

After the Fed’s abrupt but not totally unexpected hawkish turn, the supercharged US dollar will be hoping for another shot in the arm from next week’s PCE inflation data. Meanwhile, the flash PMI readings for June will be making the rounds in all the major markets. The forward-looking PMI surveys could further bolster tapering speculation – not just for the United States but elsewhere too – as economies around the world reopen with the help of ramped up vaccinations. In [..]

Technical Analysis – AUDUSD fails to escape range trajectory despite plunge

Posted on June 17, 2021 at 6:22 am GMT

AUDUSD tumbled in the wake of the hawkish FOMC policy announcement late on Wednesday, but the bearish wave was not strong enough to violate the 0.7600 level and send the price out of the three-month-old range area. Negative pressures could persist in the short term as the MACD is growing bearish below its signal and zero lines, while the RSI has yet to reach its 30 oversold level despite the harsh drop below its 50 neutral mark. Yet, an upside [..]

Aussie may shrug off employment report as all eyes on July RBA – Forex News Preview

Posted on June 15, 2021 at 3:09 pm GMT

Employment numbers for May are due in Australia on Thursday (01:30 GMT) when a jobs gain is likely after the unexpected decline in April. However, with the labour market already fully recovered from the pandemic, investors are more preoccupied with RBA policy right now as the central bank is due to decide in July whether to extend its quantitative easing programme. The July meeting could be a turning point for the Australian dollar, which has been rangebound since March. But [..]

Technical Analysis – AUDUSD maintains neutrality; gains capped by MAs

Posted on June 14, 2021 at 3:30 pm GMT

AUDUSD has been sustaining a relatively neutral picture since mid-April with the price action confined to the upper limit of 0.7890, a two-and-a-half-month high, and a lower one at 0.7644. The largely directionless simple moving averages (SMAs) have failed to shield a more prevailing price direction resulting in the pair oscillating between these frontiers. The Bollinger bands are reflecting the shifts in volatility with constant squeezing of the price followed by bolstered price moves in both directions. Currently, the short-term [..]

US Open Note – Stocks, oil on the rise; FX markets on the sidelines

Posted on June 14, 2021 at 1:38 pm GMT

Stock indices hit fresh record highs There was no clear winner in the FX space during the European session on Monday as the calendar was empty of market moving events, but the surge in oil and other commodity prices provided a small advantage to risk-sensitive currencies such as the New Zealand and Australian dollars. Rising energy and utility prices underpinned global stocks as well, with the pan-European STOXX 600 and the US S&P 500 futures inching to fresh record highs [..]

US Open Note – US CPI surprise driving dollar higher; Lagarde comments hurt euro

Posted on June 10, 2021 at 1:10 pm GMT

US CPI spike higher than expected Consumer prices in the United States were closely watched today for any clues about a tapering timeline. The headline CPI rose by 5% year-on-year for May, driving the dollar higher. This figure is the highest number since August 2008 amid low base effects from last year. The annual core CPI accelerated to 3.8% from 3.0% while the monthly rate ticked slightly down to 0.7% versus 0.9% previously. The Fed is anticipated to take baby steps towards slowing its bond purchases and the [..]

Daily Market Comment – All quiet before ECB and US CPI; dollar resists slump in yields

Posted on June 10, 2021 at 9:14 am GMT

Inertia sets in as ECB decision, US inflation seen key in determining the summer tone Treasury yields tumble again but dollar steady, stocks sluggish Euro and pound on the backfoot as EU-UK tensions simmer ECB and US CPI ahead: calm before the storm? Trading got off to another lacklustre start on Thursday, with major currencies and equities subdued and the volatility confined to the bond market. However, the unusual lull is unlikely to last much longer as the European Central [..]

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