All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD weakens inside Ichimoku cloud; negative bias in near term

Posted on September 7, 2020 at 8:43 am GMT

AUDUSD has been underperforming in the past two trading days, breaking back below the key 0.7300 level. When looking at the bigger picture the pair has been holding in ascending movement since July 24. On the 4-hour chart, prices rebounded off the 0.7220 support level but failed to jump above the 20-period simple moving average (SMA). Based on technical indicators, momentum is too weak to provide a sustained move higher. The RSI is below 50 and the MACD is [..]

US elections: A simple guide and market implications – Special Report

Posted on September 4, 2020 at 11:50 am GMT

The 3rd of November is the day that American citizens will decide who will lead their country for the next four years. Opinion polls suggest Biden will win, but Trump is quickly closing that polling gap in key battleground states and betting markets imply that the race is too close to call. In this piece, we examine how the complex US voting system works, what makes it different from other countries, and how markets might react ahead and after the [..]

Week Ahead – ECB meets amid deflation and euro headaches; BoC to stand pat

Posted on September 4, 2020 at 11:02 am GMT

Policy meetings by the European Central Bank and the Bank of Canada will heat up the September central banks schedule in the coming days, adding some excitement to an otherwise uneventful week. Neither central bank is expected to announce any new measures so the focus will be on what policymakers say about the recovery and the outlook. The ECB, in particular, will be one to watch as deflation worries are mounting and a stronger euro could jeopardise an already weakening [..]

Daily Market Comment – Wall Street rediscovers gravity ahead of US jobs report

Posted on September 4, 2020 at 8:06 am GMT

Stock markets tank as investors dump their tech darlings Yet, there is no sense of panic in the market, especially among currencies US jobs report today might decide if this correction still has some mileage in it Risk aversion makes a rare appearance After cruising higher without any significant corrections for three months now, the US equity market finally suffered a meaningful setback on Thursday. The S&P 500 lost 3.5% and the Nasdaq was down 5% as investors dumped tech [..]

Daily Market Comment – ECB fires another salvo at the euro

Posted on September 3, 2020 at 8:19 am GMT

Euro/dollar extends correction lower after ECB officials raise the FX alarm Wall Street goes on a rampage as US government hypes a vaccine breakthrough Today: ISM non-manufacturing PMI, jobless claims, and central bank speakers ECB: The dollar’s unlikely hero The world’s most traded currency pair continues to drift lower, after the European Central Bank fired another verbal barrage to shoot the high-flying euro down. The latest media reports suggest “several” ECB officials are concerned that if the euro continues to [..]

Technical Analysis – AUDUSD bulls are not scared of the correction yet

Posted on September 3, 2020 at 7:20 am GMT

AUDUSD printed a bearish doji just after piercing the 0.7400 level on Tuesday, foreseeing the weakness in the following sessions. The bearish action, however, could be just a correction in the 5 ½-month old uptrend as the 20- and 50-day simple moving averages (SMAs) retain their upward trajectory and remain positively aligned. In Ichimoku indicators, the red Tenkan-sen also continues to hold above the blue Kijun-sen line despite flattening a bit, while the RSI has reversed south but still has some way [..]

Daily Market Comment – Manufacturing data revive dollar, ECB wary of euro

Posted on September 2, 2020 at 8:14 am GMT

Encouraging ISM data bring dollar back to life, Wall Street sets new records Europe enters deflation, ECB chief economist throws first jab at the euro Today: ADP jobs report and lots of central bank speakers US manufacturing data give dollar the kiss of life A strong batch of US manufacturing numbers resurrected the dollar from the ranks of the dead and propelled Wall Street to another record high yesterday. The ISM manufacturing index jumped to its highest level in [..]

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 8:16 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sank to a fresh [..]

Daily Market Comment – Fed’s paradigm shift ripples through markets

Posted on August 31, 2020 at 8:39 am GMT

Dollar steadies after Powell’s torpedo, support regions hold on most charts Equities sail higher as investors look for a hedge against future inflation Coming up: speech by Fed Vice Chairman and RBA policy decision Dollar hit on all sides, but still standing The implications of the Fed’s latest paradigm shift continue to reverberate through global markets. Investors seem to have taken the signal that inflation will be allowed to ‘run hot’ as credible, judging by the spike higher in market-based [..]

Technical Analysis – AUDUSD pulls back from 20-month high after bullish rally

Posted on August 31, 2020 at 8:31 am GMT

AUDUSD has come under renewed selling pressure after the aggressive jump to the 20-month peak of 0.7280 earlier today. Despite the latest pullback though, the pair has not posted a fresh lower low, which makes one hesitant to trust further declines in the longer-timeframe for now. Looking at momentum oscillators on the 4-hour chart, however, they suggest further declines may be on the cards in the short-term. The RSI is moving sideways in the overbought territory while the MACD is [..]

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