All Articles Tagged - AUDUSD

Daily Market Comment – Stocks bounce back as optimism returns, dollar sags

Posted on May 18, 2021 at 9:13 am GMT

Stocks bounce back as recovery hopes supersede virus and inflation jitters Dollar slumps on easing Fed taper worries but inflation bets lift gold Euro and pound surge as Europe reopens, loonie hits highest in 6 years Markets buoyed as optimism takes over Fears about rising virus cases in Asia receded on Tuesday as signs that infections in India are on the decline and as more European nations slowly lift their restrictions boosted hopes that the global recovery remains on track. [..]

Aussie remains firm with unemployment expected to be steady in April – Forex News Preview

Posted on May 18, 2021 at 7:54 am GMT

The aussie has been trading sideways over the last three months with the employment report for April, due out on Thursday at 00:30 GMT, likely to attract some attention. The recession in Australia is over as the economic indicators have turned positive; however, the recovery still has a long way to go. Nevertheless, unemployment is expected to return to pre-pandemic levels faster than expected, while in April it likely remained at the same rate as the preceding month. Unemployment rate to remain the same The unemployment rate is forecasted to remain at 5.6% as the economy recovered further from the disruption caused by coronavirus. This was [..]

US Open Note – Virus spikes favor safe havens; US equity futures point lower

Posted on May 17, 2021 at 1:12 pm GMT

Stocks tumble as Covid outlook gets cloudy again Markets traded with mixed feelings during the European session as Covid success countries such as Taiwan, Singapore, and Hong Kong reported the highest number of daily infections since the start of the pandemic, forcing the resumption of fresh social distancing measures and the closure of schools, cafes and bars. On the other side of the planet, European economies were moving forward with their reopening plans, with the UK lifting its international travel [..]

Technical Analysis – AUDUSD upside obstacles prove significant to mute gains

Posted on May 17, 2021 at 1:08 pm GMT

AUDUSD is surrendering more ground after the Ichimoku cloud declared the pair’s latest price progression out of the 0.7674-0.7706 support base temporary, and lacking necessary bullish drive to pilot for the 0.7900 mark. The persistent gradual incline in the simple moving averages (SMAs) is conveying a neutral-to-bullish preference. Nonetheless, limited positive impetus remains incapable of lifting the price beyond the cloud, something also being reflected in the Ichimoku lines and the short-term oscillators. The MACD, in the negative zone, is [..]

Weekly Comment – More pain for USD or will the Fed let something slip?

Posted on May 14, 2021 at 1:34 pm GMT

After some wild gyrations, nothing much has changed for USD as investors are in the dark as ever on when the Fed will dial back its QE programme. The only thing that has become more certain is that it’s less likely to be in the summer. As markets are bombarded with conflicting data, the volatility can only get worse. But a quieter week ahead might provide some respite. What to watch: The focus will remain very much on the Fed [..]

US Open Note – US retail sales disappoint with minor impact on greenback

Posted on May 14, 2021 at 12:57 pm GMT

US retail sales dive below expectations The highlight of the day is the US retail sales, which were flat month-on-month in April, worse than the 1% increase that was expected versus an upwardly revised 10.7% surge in March. The US dollar index is retreating for the second consecutive day with weak momentum and unable to surpass the 91.00 mark. Dollar/yen is trading soft but above the 109.00 psychological level. The dollar could gain on a rise in US yields, while the slow recovery in the employment market may turn consumption [..]

US Open Note – Dollar rally stalls despite strong jobless claims and PPI

Posted on May 13, 2021 at 1:10 pm GMT

Jobless claims fall again but dollar slips The producer price index and initial jobless claims out of the United States are in the spotlight today after last week’s disappointing jobs report and the surprise jump in inflation yesterday. US initial jobless claims declined to 473 thousand in the week ended May 7 versus 490K forecast after Wednesday’s inflation shock and the Federal Reserve was clear that the employment outlook will have to notably rise before there is a change in monetary policy. Annual inflation climbed to the [..]

Technical Analysis – AUDUSD plunges in consolidation area

Posted on May 13, 2021 at 6:19 am GMT

AUDUSD is plunging within a ten-week sideways channel, meeting the Ichimoku cloud and the short-term simple moving averages (SMAs). However, the 200-day SMA is still moving higher, approaching the current market price. The RSI, around the 50 neutral level, is heading south, while the stochastic posted a bearish crossover within the %K and %D lines. Should prices decline further, an immediate level could be found around 0.7570, an area which has provided crucial support. Then a leg below that, the pair could [..]

US Open Note – Stocks slip and yields muted; dollar takes back seat as inflation fears remain

Posted on May 11, 2021 at 1:27 pm GMT

Stocks in the red and dollar’s might curbed as yields steady The major US indices have pulled back from their highs with the Nasdaq 100 slipping 2.63% and the Dow Jones falling the least. It seems some aftereffects from the freshly inflicted wound of the disappointing NFP payrolls for April may be curbing dollar strength, but subdued yields are also playing their part. The dollar index is flirting with the 90.00 mark after the greenback surrendered to bearish forces. Moreover, [..]

Technical Analysis – AUDUSD retreats from 2½-month high; bullish bearing unbroken

Posted on May 10, 2021 at 2:06 pm GMT

AUDUSD extended the recent rally from 0.7674 just short of the 0.7900 handle after forming a foothold, around the early and mid-March peaks. The slopes of the simple moving averages (SMAs) have regained an upwards trajectory and are backing the pair’s latest bullish impetus despite the latest price pullback. The Ichimoku lines and the short-term oscillators are reflecting a pause in upwards drive but are favouring an optimistic outcome in the pair. The MACD is above zero and is flying [..]

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