All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD struggles to extend bounce as bearish risks linger

Posted on April 5, 2021 at 12:37 pm GMT

AUDUSD recently found a foothold within the 0.7516-0.7542 support foundation, although the aggressive traction off the three-month low of 0.7531 has been muted somewhat. The falling 100- and 200-period simple moving averages (SMAs) are safeguarding the bearish structure while the 50-period SMA remains incapable of disrupting it, despite its slowed downward pace. Even though the pair has edged over the 50-period SMA at 0.7612, the directionless Ichimoku lines are reflecting the absence of positive drive in the pair to clear [..]

Daily Market Comment – Dollar smiles after stellar jobs report, RBA in focus

Posted on April 5, 2021 at 8:55 am GMT

Dollar and equities cruise higher after encouraging US employment data Elevated yields continue to keep euro and yen under pressure RBA policy decision and ISM services survey coming up Good times in the United States The aftershocks of the stellar US employment report are still reverberating across global markets on Monday, as most of Europe and several Asian trading hubs remain closed for holidays. The US economy added an impressive 916k jobs in March, far more than the projected 660k, [..]

RBA to stand pat, focus on yield containment as aussie settles lower – Forex News Preview

Posted on April 2, 2021 at 1:05 pm GMT

The Reserve Bank of Australia meets on Tuesday for its policy meeting, with a decision expected at 05:30 GMT. No change in policy is anticipated at the April meeting despite a turbulent month for bond markets that prompted some heavy intervention by the central bank, wrong-footing some traders. But as the upward pressure on yields isn’t about to go away anytime soon, policymakers will probably want to reassert their commitment to keeping borrowing costs low. A dovish statement could land [..]

US Open Note – NFP skyrockets, showing strong recovery in US; dollar turns green

Posted on April 2, 2021 at 1:00 pm GMT

Nonfarm payrolls surge by 916k; unemployment rate plunges Today’s nonfarm payrolls report is the biggest and only event of the day in the absence of any other data due to most markets being closed for Good Friday, with forex being the only notable market open. The report generated some volatility in the greenback after several months of muted impact. The US economy added 916k jobs in March from February’s job growth of 379k, beating expectations of a 660k increase, the strongest employment growth in seven months. The unemployment rate ticked [..]

Week Ahead – A battle of yields as RBA meets, Fed and ECB publish minutes

Posted on April 2, 2021 at 11:31 am GMT

With most markets closed on Monday for the Easter celebrations, it will be a fairly muted week as there’s not a lot on the agenda that can excite markets. The Reserve Bank of Australia’s policy decision will be the main highlight, but the minutes of the Federal Reserve’s and European Central Bank’s last meetings could stir some reaction too as policymakers tread water so as not to deepen the bond rout. Outside of the central bank sphere, employment numbers out [..]

Daily Market Comment – Dollar and yields retreat as S&P 500 smashes 4,000 level

Posted on April 2, 2021 at 8:46 am GMT

Biden’s tax increases dampen Treasury yields, dollar slips back S&P 500 hits new record above 4,000 amid recovery hopes, NFP eyed Oil likes OPEC+ plans to gradually ease supply curbs Dollar on the backfoot ahead of NFP The US dollar was struggling to hold onto to its weekly gains after falling sharply on Thursday on the back of the slide in Treasury yields. The retreat in long-dated yields comes after President Biden said his $2 trillion infrastructure plan would be [..]

Daily Market Comment – Biden infrastructure plan gets lukewarm reception, dollar steady

Posted on April 1, 2021 at 9:12 am GMT

Biden unveils $2.3 trillion in infrastructure spending, but much of it already priced in Stocks edge up after mixed day on Wall Street, Treasury yields hold steady Dollar maintains gains, euro weighed by French lockdown, aussie crumbles Gold gets quarter-end boost, oil eyes OPEC+ decision Biden announces tax-and-spend plans US President Joe Biden outlined his much-awaited plan on boosting infrastructure across America on Wednesday, unveiling a $2.25 trillion package that looks set to divide Congress. Biden’s ambitious policies include billions [..]

Technical Analysis – AUDUSD bears eye 0.75 level after breaking key support

Posted on April 1, 2021 at 6:03 am GMT

AUDUSD has broken below the key support level of 0.7560, which was successfully defended back in February and March, and is now plumbing fresh 3-month lows. The momentum indicators are pointing to increased bearish bias in the short term. The RSI is declining and heading towards the 30 oversold level, while the %K of the stochastic oscillator has crossed back below the %D line and both are falling. At this rate, it’s only a matter of time before the psychologically [..]

China PMIs could add optimism in boost for the aussie – Forex News Preview

Posted on March 30, 2021 at 12:28 pm GMT

As markets grapple with the relationship between the United States and China, which could derail the global economic recovery if tensions flare, the risk-sensitive Australian dollar will keep an eye on the March non-manufacturing PMI and NBS manufacturing PMI out of China on Wednesday at 02:00 GMT. The Caixin Manufacturing PMI will be released also on Thursday at 02:45 GMT, being one highlight for traders this week. China’s manufacturing growth may pick up pace The falling move in the aussie may change as the data coming out of China may [..]

US Open Note – Oil recovers; US stocks and dollar ease

Posted on March 29, 2021 at 12:46 pm GMT

Oil rises after negative open The focus of the day is the modest recovery in oil, which is flirting with the $61/per barrel level, after the episode in the Suez Canal. There is no clarity yet of when traffic in the canal will restart. At least 450 ships are thought to be waiting or heading towards the waterway. Traders may next turn their attention on the OPEC+ meeting later this week when major producers are expected to keep output levels [..]

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