All Articles Tagged - AUDUSD

Australian employment report may shoot aussie higher – Forex News Preview

Posted on January 19, 2021 at 2:25 pm GMT

December’s employment report for Australia is likely to attract investors’ attention on Thursday at 00:30 GMT. Technically, the recession is over in the country as the economic indicators have turned positive, however, the recovery is not. Unemployment is expected to take two to three years to return to pre-pandemic levels and looking at the nation’s currency, it is holding near recent highs. Unemployment rate predicted to drop to its lowest level since April In the previous release, the unemployment rate unexpectedly fell to 6.8% in November versus October’s figure of 7%. This [..]

Daily Market Comment – Wall Street eyes Yellen testimony, dollar eases

Posted on January 19, 2021 at 9:31 am GMT

Stocks perk up after slow start to the week as focus turns to Yellen and earnings Hopes that Biden administration will spend “big” bolsters sentiment Euro steadies as Italian worries abate, dollar retreats Yellen to tell US lawmakers to “act big” After a sluggish start to the week, risk sentiment improved late on Monday as investors turned their attention on incoming Treasury Secretary Janet Yellen’s confirmation hearing before the Senate today (1500 GMT), while bracing themselves for a slew of [..]

Daily Market Comment – Strong China GDP can’t shake off virus blues, dollar firms

Posted on January 18, 2021 at 9:55 am GMT

Markets wrestle vaccine and stimulus optimism with worsening near-term gloom Upbeat Chinese GDP highlights global growth disparity as US retail sales sag Euro stuck in the doldrums, eyes Italian confidence votes China notches up positive full-year growth in 2020 As most major economies struggle under the weight of the pandemic, China is demonstrating to the world that a full recovery from the virus slump is possible. China’s gross domestic product (GDP) rose by an annual rate of 6.5% in the [..]

Technical Analysis – AUDUSD ranges somewhat; uptrend under some strain

Posted on January 18, 2021 at 9:41 am GMT

AUDUSD has dipped below the 100-period simple moving average (SMA) and appears to be testing the lower boundary of a minor consolidation pattern at 0.7666. The directionless Ichimoku lines and the slightly slowed upward pace of the 50-period SMA are feeding the sideways direction in the pair. That said the steadily climbing 100- and 200-period SMAs are bolstering the positive structure. However, the short-term oscillators are leaning towards the downside, nurturing additional negative price action. The MACD, is declining further [..]

Week Ahead – ECB, BoJ and BoC meet but all eyes on US Capitol

Posted on January 15, 2021 at 12:17 pm GMT

The first of the new year’s central bank meetings will get under way next week and it will be a heavy schedule on the data front as well. The European Central Bank, Bank of Japan and Bank of Canada will almost certainly be debating the latest setback to the recovery from the worsening Covid-19 outbreak. China will report its fourth quarter GDP print and flash PMIs along with inflation and retail sales numbers will be doing the rounds in most [..]

Technical Analysis – AUDUSD maintains solid incline; sentiment favours upside

Posted on January 14, 2021 at 8:48 am GMT

AUDUSD has somewhat consolidated above the mid-Bollinger band after a subtle fade from its recent 33½-month high of 0.7820. The dominant bullish tone in the pair remains unbroken, something also reflected in the dictating simple moving averages (SMAs), which are defending the positive structure. The short-term oscillators overall are leaning towards an improving picture despite showing some dwindling in positive momentum. The MACD, far above the zero mark, has merely dipped below its red trigger line, while the upwards facing [..]

How the pandemic made China stronger – Special Report

Posted on January 12, 2021 at 4:45 pm GMT

The Covid-19 pandemic has stigmatized China as the birthplace of one of most awful diseases in modern history. But it is not all black for the second biggest economy in the world, although challenges remain, as its successful handling of the virus has likely marked another positive quarter in the end of 2020 at a time when new lockdown measures are prolonging growth agonies in the rest of the world. Covid-19, a national pride China’s Communist governing party had a tough year, receiving words [..]

Daily Market Comment – Fed officials talk tapering

Posted on January 12, 2021 at 9:16 am GMT

Dollar buoyed by rising US yields as Fed discusses QE tapering Stock markets suffer a rare pullback, dragged lower by big tech Sterling gets its feet under it as BoE Governor plays down negative rates Parade of Fed speakers today – normalization remarks crucial US growth expectations reflected in rising yields Fed remarks about a potential scaling back of the QE program eclipsed everything else in a rather quiet session on Monday, pushing US Treasury yields higher and helping the [..]

Daily Market Comment – Dollar and equities roar as Biden promises fresh stimulus

Posted on January 11, 2021 at 9:52 am GMT

President-elect Biden pledges new relief package worth ‘trillions’ Stocks hit new records, dollar comes back to life, gold purged Is the market now trading the ‘growth narrative’ instead of ‘reflation’? Reflation or growth trade? It matters for USD Hopes that the Biden administration will unleash a federal spending spree came to fruition late last week, after the incoming US President pledged a new relief package in the ‘trillions of dollars’ to revitalize the American economy. The details of this plan [..]

Technical Analysis – AUDUSD bounces off 23.6% Fibo; bullish in medium term

Posted on January 11, 2021 at 9:45 am GMT

AUDUSD has rebounded on the 23.6% Fibonacci retracement level of the upward move from 0.7254 to 0.7820 at 0.7688 after the selling interest from the 22-month high of 0.7820. According to the technical indicators, the RSI is sloping up in the bearish zone, however, the MACD is hitting the zero level below its trigger line. Should the pair manage to strengthen its positive momentum, the next resistance could come around the 40-period simple moving average (SMA) at 0.7735 before resting [..]

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