All Articles Tagged - AUDUSD

US Open Note – Dollar marks third cold week as euro shines; US PMIs next into focus

Posted on April 23, 2021 at 1:15 pm GMT

Another bad week for the dollar It’s been the third depressing week for the US dollar as investors had more to chew in Europe. The US economy is widely expected to grow at its fastest annual pace in decades this year as its successful vaccination program and the falling infection and death rates reduce the case for more lockdowns. But this is already old news, and as long as the Fed shows no willingness to step off the accelerator pedal, [..]

Week Ahead – Fed to be a yawn but glowing US data could spoil the calm

Posted on April 23, 2021 at 12:46 pm GMT

Never have central bankers so seemingly sung from the same hymn sheet as Fed policymakers have in the past few weeks. Having successfully aligned market expectations, the Federal Reserve is almost certain to repeat the message that QE tapering is not on the near-term horizon when it meets next week. The Bank of Japan is also not expected to diverge from recent language when it announces its latest policy decision. Traders are therefore likely to turn their focus on the [..]

Technical Analysis – AUDUSD makes failed attempts to improve positive picture

Posted on April 22, 2021 at 6:24 am GMT

AUDUSD is moving in a horizontal trajectory near the Ichimoku cloud and the short-term simple moving averages (SMAs), sustaining its bullish twinkle. The MACD has marginally stepped above its red trigger and zero lines, while the RSI paused its improving movement in the positive territory. It is noteworthy that the 20- and 40-day SMAs are looking ready to create a bullish crossover in the short-term timeframe. If the price runs above the Ichimoku cloud and the 0.7840 barrier, buyers would be required to produce a more decisive push [..]

Technical Analysis – AUDUSD eases after sharp increase in near term

Posted on April 19, 2021 at 1:11 pm GMT

AUDUSD is under pressure as prices are drifting lower after a sharp upside move in the preceding two sessions. The short-term technical indicators are bearish and point to a possible weakness in the market. Looking at the 4-hour chart, the RSI indicator is sloping down after reaching the overbought territory, while the MACD is losing ground below its trigger line. However, the 40-period dimple moving average (SMA) is ready to complete a bullish cross with the 200-period SMA, suggesting that [..]

US Open Note – Dollar remains under pressure; euro hits wall at $1.20

Posted on April 16, 2021 at 12:49 pm GMT

Quieter end to the week; Morgan Stanley releases earnings A calmer session in the forex and stock markets is on the cards today. The US dollar index is struggling around the 91.60 level and the 50-day simple moving average (SMA), which is acting as a crucial level. Dollar/yen rebounded off the 40-day SMA and the 108.40 support, pointing marginally up today. The futures of the S&P 500, Nasdaq 100, and Dow Jones were pointing to a slightly positive open again after a new record high on Thursday. [..]

Daily Market Comment – Yields plunge, defy logic, after blowout data, but dollar steadies

Posted on April 16, 2021 at 9:06 am GMT

US economy firing on all cylinders as data keeps getting better But Treasury yields in surprise fall; dollar off lows as gold jumps to 7-week high Wall Street hits another record on upbeat earnings US recovery gathers steam but Treasuries in puzzling move The US economic outlook continued to brighten after retail sales surged almost 10% in March and jobless claims declined to a new post-pandemic low last week. The stellar data indicate America’s recovery is racing ahead of its [..]

China set to post record Q1 GDP growth, but bounce may be short-lived – Forex News Preview

Posted on April 15, 2021 at 1:59 pm GMT

China was the only major economy in 2020 that managed to grow for the full year, proving that it’s possible to leave the pandemic wreckage behind. The pace of the recovery is expected to have accelerated in the first quarter of 2021 and the country is on track for double-digit annual growth when it reports its GDP estimates on Friday (3:00 GMT). However, this growth surge is more likely down to the low base effect from Q1 2020 when China [..]

US Open Note – US retail sales surprises but dollar remains firm

Posted on April 15, 2021 at 1:11 pm GMT

US retail sales’ number stronger than expected The spotlight of the day is the US retail sales of March, which surprisingly increased to 9.8% m/m, surpassing the predictions of 5.9%, versus a contraction of 3% in February. The retail sales control group advanced to 6.9% from -3.4% before. Initial jobless claims came out too – filings for unemployment benefits – declining to 576k in the week ending April 10 from 769k before, the lowest level since the start of the coronavirus crisis in March 2020. The greenback [..]

Daily Market Comment – Dollar succumbs to Powell’s dovish tune; stocks mixed

Posted on April 15, 2021 at 9:13 am GMT

Powell reiterates that rate hikes are a long way off, pressing down on yields Dollar skids again but upside risk from retail sales and jobless claims Banks kick off US earnings with a bang but only Dow Jones rises Most dovish Fed Chair ever strikes again The US dollar slid and the 10-year Treasury yield held near three-week lows as Fed Chair Jerome Powell went out of his way to dampen fears of pre-emptive action to stem rising inflation. Speaking [..]

US Open Note – Stocks soar; dollar continues to slip as US yields fall

Posted on April 14, 2021 at 12:30 pm GMT

US dollar back to losses A downside move in the US dollar and the significant climb in US stock futures are the major themes of the day. The question is if this recovery is being driven by the fall in US yields after the milder-than-feared US CPI data. The US dollar index is approaching the 91.60 level, while dollar/yen is in the process of completing the third straight negative day around 109.00. Futures tracking the S&P 500, Nasdaq 100 and Dow Jones were pointing to a slight [..]

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