All Articles Tagged - AUDUSD

China’s Q1 GDP growth next on the Asian calendar – Preview

Posted on April 15, 2024 at 3:24 pm GMT

China’s Q1 GDP expected to fall below 5.0% on Tuesday at 02:00 GMT Expansion to remain solid but unlikely to quell stimulus calls AUDUSD tests lower boundary of the 2024 range China to report weaker GDP after disappointing trade data China remains a major trade partner for advanced economies such as the US and Europe, especially in the manufacturing sector, where its global dominance in terms of production and value added surpasses its peers by a large margin. Therefore, [..]

Weekly Technical Outlook – GBPUSD, USDJPY, AUDUSD

Posted on April 15, 2024 at 8:26 am GMT

Will UK CPI data drive cable even lower? USDJPY still skyrockets ahead of Japanese CPI China GDP may help AUDUSD exit from trading range UK CPI data –> GBPUSD Inflation in the United Kingdom dropped to 3.4% in February, and experts predict that it will fall to 3.1% in March. It is anticipated that the core figure will likewise fall once more. On Friday, eyes will be on the March retail sales figures to see if spending is increasing. Currently, cable is trading higher after the strong sell-off on Friday, penetrating the long-term sideways channel to the downside. Incoming data might potentially lead to a decline in price if it indicates that the Bank of England is still planning to begin cutting rates in August, even while the Fed’s timeframe [..]

Week Ahead – More inflation data on the way as rate cut bets thrown into disarray

Posted on April 12, 2024 at 10:53 am GMT

CPI numbers due in the UK, Japan, Canada and New Zealand China to also come into the spotlight as Q1 GDP eyed US retail sales to kickstart the week as earnings season gets underway CPI figures to headline UK data flurry After yet another hot CPI report in the United States, inflation data will remain at the forefront of the upcoming week’s releases, including in the United Kingdom. But first up on the UK agenda will be the February employment [..]

Technical Analysis – AUDUSD plummets in the US CPI aftermath

Posted on April 11, 2024 at 8:11 am GMT

AUDUSD drops 1.7% on hotter-than-expected US CPI data Violates both 50- and 200-day SMAs before finding its feet Momentum indicators deteriorate drastically AUDUSD had been in a steady advance since the beginning of April, posting a fresh one-month high of 0.6643 on Tuesday. However, the pair experienced a strong decline and erased all its progress following a stronger-than-expected US inflation report on Wednesday. Should the price extend its recent slide, the recent support of 0.6479, which also held strong in February and [..]

Technical Analysis – AUDUSD steady after several sessions of gains

Posted on April 9, 2024 at 7:24 am GMT

AUDUSD bounces off 200-period SMA RSI suggests some losses AUDUSD created consecutive green days after the bounce off the 0.6550 support level, which overlaps with the 200-period simple moving averages (SMAs) in the 4-hour chart. According to the technical oscillators, the RSI is moving marginally down in the positive region, while the MACD is still extending its bullish structure above its trigger and zero lines. Should prices reverse lower, immediate support could come at the 20-period SMA at 0.6590 ahead [..]

Technical Analysis – AUDUSD surpasses SMAs within trading range

Posted on April 8, 2024 at 12:56 pm GMT

AUDUSD lacks clear direction MACD and RSI move horizontally AUDUSD is moving back and forth from the short-term simple moving averages (SMAs) which are standing near the 0.6540 number. The pair is also consolidating within the 0.6485-0.6635 range with the technical oscillators confirming this view. The MACD is moving horizontally below its trigger line and near the zero level, while the RIS is ticking marginally up above the 50 level. If the price continues to move higher, immediate resistance could [..]

Market Comment – Fed hawks spook markets ahead of NFP

Posted on April 5, 2024 at 9:08 am GMT

Hawks dominate latest round of Fed speak; stocks slip, dollar rebounds But rate cut odds little changed as US jobs report awaited Yen firms after Ueda opens door to more rate hikes Oil extends gains on geopolitical tensions, but gold pulls back Fed officials cast doubt about rate cuts Fresh uncertainty about the timing and pace of Fed rate cuts this year weighed on markets on Friday as policymakers grew increasingly wary about the inflation outlook. The expectation that the [..]

Technical Analysis – AUDUSD continues the bounce off 0.6475 mark

Posted on April 4, 2024 at 7:34 am GMT

AUDUSD holds within trading range Prices rise above SMAs RSI indicates more gains AUDUSD is surging after the rebound off the 0.6475 support level, surpassing the simple moving averages (SMAs) and extending its move towards the 0.6633 barrier, which is acting as the upper boundary of a short-term sideways channel. According to technical oscillators, the MACD is holding marginally above its trigger line and near the zero level with weak momentum, while the RSI is pointing upwards, crossing above its [..]

Market Comment – Dollar and gold rise in tandem as Fed rate cut bets pared back

Posted on April 2, 2024 at 9:17 am GMT

Dollar strengthens across the board after upbeat ISM as June cut hopes fade Japan keeps up intervention rhetoric as yen stays under pressure Gold undeterred by strong dollar, rebounds towards record high Equities mixed ahead of crucial European and US data Rate cut bets suffer another blow Hopes for an early rate cut by the Fed were dashed again on Monday following yet another upbeat data release out of the US. The ISM manufacturing PMI rose more than expected in [..]

Week Ahead – Rate cut hopes rest on US jobs report and Eurozone flash CPI

Posted on March 29, 2024 at 10:32 am GMT

Nonfarm payrolls report and European flash CPI to shape rate cut bets ISM PMIs to also be important for Fed expectations and US dollar Canadian employment and Chinese PMIs also on the agenda Fed hawks rear their ugly heads The March round of policy meetings reinforced June as the likely date when most central banks will begin cutting rates. Yet, doubts remain about whether or not inflation is on a sustainable path downwards, especially in the United States. Although FOMC [..]

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