All Articles Tagged - AUDUSD

US Open Note – Dollar steadies; pound skyrockets after elections

Posted on May 10, 2021 at 12:29 pm GMT

US steadier after slump from soft NFP report Today is a quiet day, with the US dollar moving slightly higher after the poor US jobs reports on Friday, which indicated that the Fed will have to keep accommodative policy for longer. The greenback is likely to remain soft until there is a notable turnaround in US yields. The US dollar index is hovering slightly above the 90.10 barrier, having on Friday created the sharpest decline in five months. Euro/dollar is looking neutral after it reached a new ten-week high of 1.2176 and gold is developing around three-month [..]

Weekly Comment – NFP miss crushes USD; can a CPI jump limit the damage?

Posted on May 7, 2021 at 1:42 pm GMT

USD’s attempt to halt its downtrend suffered a major blow after Friday’s massive miss in the nonfarm payrolls estimate. There is still hope for a near-term rebound, however, as inflation and retail sales numbers are coming up next week. EUR has shot above $1.21 after the NFP report but GBP is more cautious. What to watch: The Bank of England surprised markets by announcing it will reduce its weekly bond purchases, although it is keeping its QE size unchanged. GBP [..]

Week Ahead – US and UK data to lead quiet week as dollar can’t make up its mind

Posted on May 7, 2021 at 12:14 pm GMT

After plenty of excitement from central banks and top-tier economic releases in the past couple of weeks, things will take a backseat over the next seven days. The slower news pulse could give way to some sideways action in currency markets as the US dollar fights off selling pressure. A more cautious mood on Wall Street could assist dollar bulls as stocks tend to perform poorly in May. There could be a further boost for the greenback coming in the [..]

Technical Analysis – AUDUSD trendless within 0.7700 area; bias tilted to the downside

Posted on May 6, 2021 at 7:18 am GMT

AUDUSD continues to sideline inside the 0.7700 area and below the surface of the Ichimoku cloud for the third consecutive week, also remaining within the broader range of 0.7526 – 0.8006 since the start of the year. The short-term risk looks to be tilted to the downside, as the RSI has been making lower lows and lower highs since the end of April, while the MACD has been losing strength during the same period, recently crossing below its red signal [..]

US Open Note – Stocks recoup lost ground, dollar retreats, gold steadies and oil climbs

Posted on May 5, 2021 at 2:27 pm GMT

Stocks recover and dollar bounces back As a slight return in risk assets seeps into markets and major US indices regain their buoyancy, the forex environment seems to be subdued. The Nasdaq is reclaiming yesterdays’ lost ground but at a slower pace than the S&P 500, while the Dow Jones is holding back at its all-time highs. The blow to markets footing was apparent in the US indices’ Tuesday tumble, corresponding to US Treasury Secretary Yellen’s erroneous choice of words [..]

Daily Market Comment – Dollar gets a second wind ahead of ISM data

Posted on May 3, 2021 at 9:44 am GMT

· Taper talk, mild risk aversion, and month-end flows reawaken the dollar · Wall Street takes a minor hit but after a fantastic month · All eyes on ISM survey today and RBA rate decision afterward Dollar strikes back A battle of narratives continues to rage in the forex market, with mounting signs that the US economy is in the early stages of a stimulus-fueled boom being negated by the Fed’s insistence that this won’t be enough to trigger any [..]

Weekly Comment – After dovish Fed, NFP unlikely to boost sagging dollar

Posted on April 30, 2021 at 2:10 pm GMT

The US dollar recouped some losses at the end of the week but couldn’t hide the bruises endured in April as the Fed dashed any remaining expectation that it will respond to any spike in inflation. The focus next week will be on the NFP numbers. But don’t expect the dollar to get excited. Next week’s highlights: The RBA meets on Tuesday and will update its view on the economy. Australia’s recovery remains strong but subdued inflation and [..]

Week Ahead – RBA to stand pat but BoE might taper; Can a bumper NFP excite after dovish Fed?

Posted on April 30, 2021 at 12:24 pm GMT

The central bank theme will continue over the next seven days with policy meetings by the Reserve Bank of Australia and Bank of England. The RBA will probably maintain some caution after weak inflation figures but there is some speculation the BoE could start to taper its asset purchases as early as the May meeting. On the data front, the nonfarm payrolls report is due out of the United States. However, after the Fed once again dismissed talk of an [..]

RBA to hold steady as aussie tries to head north – Forex News Preview

Posted on April 30, 2021 at 11:25 am GMT

The Reserve Bank of Australia (RBA) meets on Tuesday for its policy meeting, with a decision expected at 04:30 GMT. No change in policy is anticipated at the May meeting. The vaccination progress in the country has some delays and a dovish statement could land a blow to the Australian dollar, which has been in a slightly upside tendency over the last couple of weeks. RBA cash rate may remain steady again During the coronavirus pandemic, the RBA has been one [..]

Daily Market Comment – Dollar set for big monthly losses, stocks struggle for direction again

Posted on April 30, 2021 at 8:56 am GMT

Dollar steadier but month-long rout probably not over yet, yen firmer too S&P 500 closes at another record high but stocks slip today amid some jitters Copper soars past $10,000 a tonne, oil moderates after boost from upbeat US GDP Don’t fight the dovish Fed The US dollar is on track for its worst 4-week run since last July and looks set to end the month with losses of at least 2.5%. An uptick in the growth outlook for some [..]

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