All Articles Tagged - AUDUSD

Daily Market Comment – Euro takes no prisoners, dollar falls apart

Posted on July 23, 2020 at 8:23 am GMT

Dollar slide accelerates despite escalating US-China tussle, euro takes flight Markets generally in a cheerful mood, helped by signs Congress is moving closer to a compromise Gold trades like a rocket amid tanking dollar, geopolitical unrest, and stimulus hopes Euro unchained The currency market continues to be dominated by the resurgent euro, which has been liberated from its fiscal shackles after EU leaders took a step closer towards risk sharing this week. Since FX is a zero-sum game in the [..]

Technical Analysis – AUDUSD breaks above pre-virus levels and into overbought zone

Posted on July 23, 2020 at 7:18 am GMT

AUDUSD has successfully completed a V-shaped recovery from 17-year lows, unclocking a 15-month high of 0.7181 on Wednesday that is above its pre-crisis levels. The recent improvement has also violated the long-term downtrend that started from the 2018 peak of 0.8135, with the golden cross within the 50- and 200-day simple moving averages (SMAs) adding credence to the advance. The RSI and the Stochastics, however, have already entered the overbought territory, flagging that the bears might be around the corner. But the indicators have yet to hit a [..]

Daily Market Comment – US dollar clubbed as euro cruises higher, gold glitters

Posted on July 22, 2020 at 8:04 am GMT

Euro ascends after landmark EU deal, mostly to the detriment of the dollar Sinking dollar lifts all other boats – pound, commodity currencies, gold But some discouraging signals from the US Senate upset stocks Euro takes to the skies Global markets remained in a risk-on mood after the marathon-like negotiations between EU leaders finally bore fruit yesterday, resulting in a deal that will see substantial sums being funneled into the economies most devastated by the crisis. Even though the deal [..]

Daily Market Comment – Euro flatlines but stocks lifted by vaccine and stimulus progress

Posted on July 21, 2020 at 8:50 am GMT

EU strikes compromise deal on a virus recovery fund but euro pares gains Positive vaccine headlines drive Nasdaq to record close as key earnings loom Win-win situation for gold as it climbs to 9-year highs Focus turns to talks on US fiscal package and Brexit; dollar sags but pound upbeat Europe gets its fiscal bazooka; euro pauses for breath European Union leaders ended a marathon summit on Tuesday with a classic fudge as a compromise deal that significantly waters down [..]

Technical Analysis – AUDUSD finds strong ceiling at 0.7000; holds in upward channel

Posted on July 20, 2020 at 10:04 am GMT

AUDUSD found strong ceiling near the 0.7000 psychological level in the ascending channel that has been holding since June 15. Technically, the MACD oscillator is still flattening above the zero level with weak momentum, while the RSI is sloping down near the 50 level. The 20- and 40-period simple moving averages are moving horizontally confirming the recent neutral move. If the pair successfully surpasses the 0.7000 handle, it could gain some ground towards the 0.7040 barrier ahead of the 14-month [..]

Daily Market Comment – Soaring euro eyes EU fiscal boost; stocks mixed

Posted on July 20, 2020 at 8:54 am GMT

Euro scales 4-month peak as EU leaders close in on virus rescue deal More restrictions as virus cases continue to surge globally Stocks get off to a mixed start as earnings season set to heat up Hopes rise for EU fiscal stimulus; euro flies No deal yet but the euro is soaring on positive signs that European Union leaders are close to reaching a compromise on how to allocate a €750 billion recovery fund to assist virus-stricken member states. In [..]

Market Comment – Fears grow about virus surge but stimulus hopes put a lid on risk-off

Posted on July 17, 2020 at 8:41 am GMT

US daily virus tally tops 77,000; escalation in Australia and Japan also worries investors Stocks tread water but stimulus and vaccine hopes keep bull market alive Euro on the backfoot ahead of EU stimulus decision No letup in new virus cases yet A continued surge in the number of new coronavirus cases being reported in hotspots around the world has taken the steam out of the risk rally this week, with not even robust data out of China and the [..]

Daily Market Comment – Dollar edges up, stocks slip as recovery doubts set in

Posted on July 16, 2020 at 8:50 am GMT

China’s GDP bounces back but signs of uneven recovery dampen sentiment White House’s tough line on China also a drag on risk assets Euro softer ahead of ECB; Stocks eye US earnings and retail sales for direction China returns to growth but weak spending worries markets As far as V-shaped recoveries go, China’s economic recuperation from the coronavirus couldn’t look more V-shaped. Gross domestic product (GDP) jumped by 11.5% over the quarter to June after collapsing by almost 10% in [..]

Technical Analysis – AUDUSD tries to revisit 1-year high

Posted on July 16, 2020 at 7:24 am GMT

AUDUSD has been slowly ascending after the rebound on the 0.6800 support, jumping above the short-term 20-day simple moving average (SMA). The price is approaching again the almost one-year peak of 0.7067, searching for new upside adventures. Also, the stochastic oscillator is confirming this view as it is reversing north and has yet to reach overbought levels. In the positive scenario, a jump above the 0.7030 level could find immediate resistance at the 0.7067 barrier before moving towards the 0.7205 – 0.7295 zone. Alternatively, a decline beneath the 20- and [..]

China could return to growth in Q2 amid geopolitical bullying woes – Forex News Preview

Posted on July 15, 2020 at 1:13 pm GMT

China releases GDP readings for the second quarter on Thursday at 02:00 GMT along with industrial production for June, retail sales and fixed investment data. All figures are forecast to strengthen, indicating that the world’s second largest economy is recovering albeit gradually after contracting at a record rate. The data could boost risk sentiment, though China’s cloudy political background could be a reason for traders to adopt a wait-and-see approach. China could grow by 2.5% y/y in Q2 China’s GDP [..]

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