All Articles Tagged - AUDUSD

Daily Market Comment – Euro surges, stocks bounce back amid fresh vaccine hopes

Posted on July 15, 2020 at 8:33 am GMT

Vaccine hopes boost risk assets; Wall Street selloff is over before it even began Euro and aussie charge ahead; pound and loonie try to catch up Oil holds its nerve as OPEC+ set to ease production cuts Mixed earnings overshadowed by promising vaccine results Global equities were back in bullish mode on Wednesday after a brief wobble earlier in the week had some investors worried that this could be the start of a long overdue correction in the markets. However, [..]

Aussie may drift lower after employment report – Forex News Preview

Posted on July 14, 2020 at 1:21 pm GMT

June’s employment report for Australia is likely to catch investors’ eyes on Thursday 0030 GMT as the nation’s economy tumbled into a recession in the first half of the year. However, Australia avoided the high Covid-19 cases of other countries, recording less than 10,000 in total or about a sixth of the daily cases seen in the United States in recent days. Unemployment expected to see further increases In the previous release, the unemployment rate jumped to 7.1% from an upwardly revised [..]

Daily Market Comment – Wall Street stumbles as US-China tensions brew, virus cases surge

Posted on July 14, 2020 at 8:46 am GMT

Nasdaq falters as more US states roll back reopenings amid record new infections Sino-US tensions also upset stocks, but dollar and gold hold steady Markets braced for busy week as earnings, data and central bank meetings coming up Tech stocks in rare selloff Shares on Wall Street slipped late into the session on Monday as a persistent surge in new coronavirus cases across the United States unnerved investors. The tech-heavy Nasdaq Composite had been trading in record territory before reversing [..]

Technical Analysis – AUDUSD still consolidating; unable to break above upper channel

Posted on July 13, 2020 at 12:33 pm GMT

AUDUSD has been consolidating since June 16 and has been stuck in a channel tilted slightly to the upside. The neutral to bullish picture in the short term looks to last for a while longer after prices failed to break above the upper channel earlier this month. Resistance was met at around the 0.7000 psychological region after prices surpassed the simple moving averages (SMAs) and the Ichimoku cloud. The slightly bullish bias in the near term is supported by the [..]

Week Ahead – US, China data to keep recovery theme going; ECB, BoJ and BoC meet

Posted on July 10, 2020 at 12:38 pm GMT

There will be no shortage of big headline events over the next few days as major data releases, central bank meetings and an EU gathering should make for a busy week. However, the primary focus will be on the recovery story amid further spikes in coronavirus cases in several countries, including the United States. Retail sales numbers out of America and second quarter GDP figures from China should reveal whether the growth rebound is maintaining momentum. On the other hand, [..]

Daily Market Comment – Virus acceleration and politics upset markets

Posted on July 10, 2020 at 8:10 am GMT

Wall Street loses altitude, dollar regains ground on US virus spike, Biden remarks But Nasdaq defies gravity, hits new records on relentless ‘defensive tech’ demand In the bigger picture, most charts have gone nowhere for a month now – blame the Fed? Flood of distressing news overpowers stimulus hopes Risk aversion made a comeback on Thursday as a flurry of alarming headlines led investors to cut their exposure to riskier assets, in fear that the avalanche of stimulus globally may [..]

Daily Market Comment – Nasdaq and gold take to the skies, dollar tanks

Posted on July 9, 2020 at 8:31 am GMT

Stocks and commodity currencies grind higher without much news Sinking dollar lifts all FX boats, pound and loonie capitalize the most Gold rally keeps rolling – has bullion changed roles with the dollar? Weekly US jobless claims today to reveal initial impact of re-closures Investors stick to crisis playbook, buy tech shares and gold News flow was rather limited on Wednesday, helping global markets to stay in a good mood since ‘no news is good news’ these days, with such [..]

Technical Analysis – AUDUSD remains optimistic; improving positive signals assist

Posted on July 9, 2020 at 6:51 am GMT

AUDUSD appears to be building confidence to revisit the region around the nearly 11-month high of 0.7064. The recent strengthening in the pair is reflected in the short-term oscillators and boosted by the recent bullish crossover of the 200-day simple moving average (SMA) by the ascending 50-day one. The MACD, deep in the positive region, has climbed back over its red signal line, while the rising RSI heads gradually north towards the overbought boundary of 70. Should positive sentiment strengthen [..]

Daily Market Comment – Dollar steadies as opposing narratives clash

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

Markets calm down after a mild dose of risk aversion Dollar climbs and stocks pull back, though both moves retrace on Wednesday Sterling outperforms ahead of a budget update by Chancellor Sunak today Gold shines bright, touches 2011 highs amid ‘organic’ demand Markets split between narratives Doubts around the resilience of the economic recovery returned to haunt markets on Tuesday, dragging Wall Street lower and propelling the haven-like dollar higher, as investors trimmed their risk exposure ahead of what seems [..]

Daily Market Comment – Markets pause to assess risks after leaping higher

Posted on July 7, 2020 at 8:27 am GMT

Currencies and equities in a more cautious mood Tuesday, as China-led euphoria peters out Dollar regains its footing but only mildly, aussie drops after Melbourne goes into full lockdown Risk/reward outlook for ‘risk trades’ seems quite unattractive from here Soaring Chinese stocks lift all boats, but enthusiasm fades Global markets staged a powerful rally to kick off the new week. Stock indices in most regions closed with solid gains while the defensive US dollar edged lower, with no real catalyst [..]

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