All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD retains steady positive tone despite pullback

Posted on August 20, 2020 at 8:22 am GMT

AUDUSD has managed to preserve its five-month progression from the 17½-year low of 0.5506 to the fresh high of 0.7275. The bullish simple moving averages (SMAs) and the positive demeanour of the Ichimoku lines continue to convey optimism in the pair, despite its recent weakening. The technical oscillators mirror the current pullback in the pair displaying the fading in positive momentum. The MACD, in the positive region, is cautiously trailing below the red signal line, while the RSI is waning [..]

Daily Market Comment – FOMC minutes resurrect dollar, torpedo stocks

Posted on August 20, 2020 at 8:10 am GMT

Fed backs off from yield curve control, not in a hurry to strengthen guidance Dollar comes back to life, stocks retreat from record highs, gold sinks Swiss franc crashes for no apparent reason – SNB working overtime? Today: ECB minutes and US jobless claims Dollar back in the ring to take another swing The Federal Reserve injected a dose of volatility into financial markets on Wednesday, after the minutes of the latest policy meeting revealed that policymakers are not in [..]

Daily Market Comment – Wall Street eclipses all-time high, dollar gets a black eye

Posted on August 19, 2020 at 8:24 am GMT

S&P 500 closes at a new record, powered by slowing US cases and stimulus signals Dollar gets hammered, hits fresh two-year lows Sterling capitalizes most on the dollar’s troubles Today: FOMC minutes and Canadian inflation numbers Mission accomplished: Wall Street at new records There’s no stopping the US equity freight train. The S&P 500 erased all its losses since the pandemic rocked global markets to capture new records, pulling off its quickest ever return to new highs after entering a [..]

Daily Market Comment – Greenback and equities at critical crossroads

Posted on August 18, 2020 at 8:13 am GMT

Dollar extends slide, now testing crucial support levels Nasdaq hits another record, but S&P 500 can’t overcome its own peak Yen and gold recover as global yields fall back down Dollar feels the heat of stronger risk appetite No news is bad news for the world’s reserve currency lately, which continues to surrender ground even without any noteworthy developments, pressured by the ‘risk on’ atmosphere in the markets. Unless investors are in a truly defensive mood, the greenback is struggling [..]

Technical Analysis – AUDUSD exhibits slowing ascent; positive risks persist

Posted on August 17, 2020 at 12:50 pm GMT

AUDUSD appears to have secured its positive bearing for now, as the price nudged back above the simple moving averages (SMAs) and the Ichimoku cloud. Once again, the price resisted negative pressures and now stands on top of the 50-period SMA at the cloud’s upper surface at 0.7177. Yet, the recently directionless Ichimoku lines sponsor a restrained mode within the pair. Nonetheless, the short-term oscillators reflect some improvement in positive momentum. The MACD has advanced above its red trigger line [..]

Daily Market Comment – Stocks pause at record highs, dollar struggles

Posted on August 17, 2020 at 8:22 am GMT

Dollar extends losing streak, yet most FX pairs stuck in narrow ranges Will the reversing trend in European/American infections affect euro/dollar? US stocks near record highs amid global liquidity tsunami Overall, things are calm as investors wait for the next catalyst – Congress? All quiet on the FX front, except the dollar The currency market seems to have entered a summer lull, as aside from a modest tumble in the US dollar, there isn’t much else going on in the [..]

Technical Analysis – AUDUSD bulls flirt with long-term SMA after two years

Posted on August 13, 2020 at 2:34 pm GMT

AUDUSD has been flirting with the 200-weekly simple moving average (SMA) around 0.7240 for the past fortnight while struggling to surpass the 61.8% Fibonacci of the 0.8135-0.5701 downtrend at the same time. The last time the price touched the long-term SMA was in 2018. The pair violated the 2018 downward pattern and increased the odds for further recovery after crossing above the previous high of 0.7030 and jumping out of the Ichimoku cloud. A bullish cross between the 20- and 50-weekly SMAs [..]

Australian jobs data: Statistical shenanigans – Forex News Preview

Posted on August 12, 2020 at 2:23 pm GMT

Australia’s employment data for July will hit the markets at 01:30 GMT Thursday. Forecasts point to a spike in the unemployment rate, though that’s likely owed to more people coming back to the labor market, not a setback in the economy. As for the aussie, its broader direction will depend mostly on global risk sentiment and vaccine news. Yet, given the RBA’s yield curve control strategy, encouraging vaccine headlines might not boost the aussie across the board – only against [..]

Daily Market Comment – Vaccine fever shakes markets, RBNZ shoots kiwi down

Posted on August 12, 2020 at 8:13 am GMT

Vaccine news catapult global yields higher, push stocks lower Gold falls without a parachute – has it peaked? Dollar inches higher amidst the turbulence, but Fed speakers are a risk RBNZ expands QE and opens door to negative rates, kiwi stumbles Putin says Russia has developed the first vaccine President Vladimir Putin unleashed mayhem in financial markets on Tuesday, after he announced to the world that Russia has developed the first successful coronavirus vaccine. Global bond yields erupted higher [..]

Daily Market Comment – US stocks flirt with record highs, gold retraces

Posted on August 11, 2020 at 8:21 am GMT

S&P 500 cruises towards all-time high as Trump floats capital gains tax cut Markets also take heart from ‘soft’ Chinese retaliation against US Gold pulls back as dollar and bond yields recover RBNZ meets overnight, might ‘talk down’ the kiwi more forcefully Wall Street sets its sights on new records Financial markets seem to have concluded that better days lie ahead for the global economy, with most asset classes trading in a buoyant manner this week. The S&P 500 is [..]

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