All Articles Tagged - AUDUSD

Week Ahead – Data overload may spoil vaccine euphoria; NFP to lead the pack

Posted on November 27, 2020 at 1:14 pm GMT

It’s NFP week and as investors battle the vaccine optimism against the short-term gloom, the latest jobs report from the United States may determine which way sentiment sways next. Canada will also publish jobs numbers along with its Q3 GDP print. The Reserve Bank of Australia, meanwhile, will kick off the December round of central bank meetings. In Europe, flash inflation figures will be watched in anticipation of the ECB’s next move. But amidst the busy economic calendar, it’s Brexit [..]

RBA meeting: A more optimistic take – Forex News Preview

Posted on November 27, 2020 at 12:34 pm GMT

The Reserve Bank of Australia will hold its final meeting for the year at 03:30 GMT Tuesday. Having cut rates at the previous gathering, no action is expected this time, so the market reaction will depend on the language of the accompanying statement. Economic data have improved lately and vaccines have been announced, so a slightly more optimistic tone may be warranted. That would argue for a positive, but minor, reaction in the aussie. Going all out It took some [..]

Daily Market Comment – Dollar on the ropes, aussie unfazed by China tariffs

Posted on November 27, 2020 at 9:02 am GMT

Greenback hovers near lows, markets quiet overall What’s the outlook for euro/dollar from here? China slaps tariffs on Australian wine, but aussie immune Crunch time in Brexit talks as EU negotiators travel to London All quiet on the FX front It was a relatively subdued session in global markets yesterday with US traders being away on holiday. Most stock indices closed flat and currency pairs generally traded in narrow ranges, with no real headlines to steer the price action and [..]

Technical Analysis – AUDUSD tries to test 2-year high; remains in trading range

Posted on November 26, 2020 at 7:52 am GMT

AUDUSD is surpassing the 0.7340 barrier in the consolidation area of 0.7000-0.7413. The upside tendency this month started after the bounce off the 0.7000 psychological mark and more increases could come if there is a break of the upper bound of the channel. The momentum indicators seem to in a horizontal mode. The RSI is flattening near the overbought territory, while the MACD is trying to extend its bullish structure above its trigger line. However, the 20- and 40-day simple [..]

Australian Q3 capex eyed ahead of GDP data as aussie flies on vaccine news – Forex News Preview

Posted on November 25, 2020 at 9:16 am GMT

The Australian dollar is moving slightly higher against the US dollar over the last month as investors are waiting for the capital expenditure data for the third quarter on Thursday at 00:30 GMT ahead of the GDP figure on December 2. In the meantime, the aussie is forming a positive structure on the back of the positive vaccine news, which have opened up a pathway to a safe Australia, with the first doses set to be distributed to healthcare workers and the elderly by March. Will Capex affect GDP numbers? Capital [..]

Daily Market Comment – Crude oil powers higher, markets euphoric

Posted on November 25, 2020 at 9:01 am GMT

US stocks close at new records, oil roars higher, gold melts down Markets in an ecstatic mood, without any major new drivers Avalanche of US data and Fed minutes in the spotlight today Vaccine enthusiasm continues to steer the ship The party in global markets continues. Investors have thrown caution to the wind and have gone all-out in their hunt for returns, with exuberance around the post-vaccine world and an abundance of liquidity thanks to the world’s central banks powering [..]

Technical Analysis – AUDUSD suppressed by key resistance section

Posted on November 23, 2020 at 4:12 pm GMT

AUDUSD is retreating below the 50-period simple moving average (SMA) at 0.7290, after deflecting off the upper Bollinger band, currently encompassed in the resistance ceiling of 0.7324-0.7344. The advancing 100- and 200-period SMAs are promoting strength in the pair, while the 50-period SMA is transmitting a more neutral tone. The short-term oscillators mirror the recent weakening in the price. Strengthening negative momentum is displayed in the dipping of the RSI underneath its 50 mark and the declining stochastic %K line [..]

Technical Analysis – AUDUSD struggles at range’s ceiling; positive drive feeble

Posted on November 19, 2020 at 9:42 am GMT

AUDUSD is dwindling from the ceiling of the range at 0.7344, after recent positive price action thrusted over the simple moving averages (SMAs) and the Ichimoku cloud. The flattening demeanour of the 50-day SMA and the blue Kijun-sen line appears to be aiding the short-term horizontal trajectory, while the rising 100-day SMA and gradual upturn in the 200-day SMA are promoting additional gains. The short-term oscillators reflect anaemic momentum, endorsing the consolidation in the pair. The MACD, in the positive [..]

Daily Market Comment – Growth worries dent vaccine optimism but can’t stem dollar slide

Posted on November 18, 2020 at 9:49 am GMT

Stocks mostly negative after disappointing US retail sales underline near-term risks Surge in US virus cases and fresh outbreaks in Japan, Australia unnerve markets Cautious tone unable to lift dollar as slump in Treasury yields weighs Kiwi outperforms again, pound is close behind amid hopes of a Brexit breakthrough Renewed growth jitters put brakes on vaccine rally The vaccine euphoria suffered a knockback after stalling retail sales numbers out of the United States yesterday highlighted the short-term challenges policymakers still [..]

Biden’s Trumpism over US-China trade war – Special Report

Posted on November 17, 2020 at 4:06 pm GMT

Trump’s presidency opened several fronts of confrontation between the United States and other key global economic powers, instantly increasing volatility in the markets as traders love to trade. With Biden ready to pick up the torch now, questions are arising over whether he could raise the flag of peace and build stability. However, his recent political shift suggests that the “America first” nationalism may not be easily replaced, and some battles may not see a ceasefire soon. No majority, no control Without majority in the [..]

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