All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD holds above MAs; optimism for bullish picture

Posted on April 17, 2020 at 7:01 am GMT

AUDUSD is remaining above the 20- and 40-day simple moving averages (SMAs), which are in the process of a bullish cross in the short-term timeframe, and it found strong support at the 50.0% Fibonacci retracement level of the down leg from 0.7030 to 0.5506 at 0.6270. The bullish correction mode got in place when the pair rebounded on the 17½-year bottom, achieved on March 19. Looking at momentum oscillators, they suggest further increases may be on the cards. The RSI [..]

China to give first evidence on Covid-19 growth impact – Forex News Preview

Posted on April 16, 2020 at 10:03 am GMT

The world is seeking clues on how painful the virus economic impact could be and China’s GDP growth readings for Q1 released on Friday at 02:00 GMT may give a bitter taste. Despite that, a rebound in monthly retail sales, urban investment and industrial production data accompanying the report may steal all the attention, letting the aussie to recoup more lost ground. Between a rock and a hard place The global economy is between a rock and a hard place in the absence of [..]

Daily Market Comment – Dire US data send stocks spinning, dollar flying higher

Posted on April 16, 2020 at 8:39 am GMT

Fears of global economic slump heightened after dreadful US data Flight to safety hammers stocks, lifts dollar Talk of easing lockdowns fails to comfort markets Markets spooked as gloomy predictions start to turn to reality Reality has come back to bite the markets, taking the steam out of the relief rally in stocks, as investors grapple with the prospect of economic devastation from the virus pandemic. Data released in the United States on Wednesday showed a record slump in retail [..]

Australia to lose jobs at fastest pace since 2003; can the aussie maintain its uptrend? – Forex News Preview

Posted on April 15, 2020 at 2:19 pm GMT

As Australia enters its fourth week of national lockdown, the country looks set to find out what the economic cost of the virus shutdowns has been on the labour market. The employment indicators for March are due on Thursday at 01:30 GMT and are certain to make a grim reading. If the jobs numbers prove to be nothing short of disastrous, they could derail the local dollar’s recovery from the 17-year low it plumbed in March. Jobless rate predicted to [..]

Daily Market Comment – Stocks under pressure amid growth jitters; dollar off lows

Posted on April 15, 2020 at 8:36 am GMT

Uncertainty about growth outlook resurfaces after IMF warning, weighing on stocks Dollar pulls higher as risk aversion sets in US earnings and retail sales data could make for a rocky ride Stocks muted as growth jitters return Equity markets were struggling for momentum on Wednesday as the IMF’s latest economic forecasts served as a reminder to investors that the virus crisis will take a heavy toll on the global economy. In its April report, the IMF projected that the global [..]

Daily Market Comment – Stocks edge up as earnings get underway amid stabilizing virus cases

Posted on April 14, 2020 at 8:23 am GMT

Stocks head higher as easing virus outbreak lifts mood But risk of over-optimism as US earnings poised to unveil virus hit Pound and aussie extend gains as dollar retreats Is the global pandemic peaking? Cautious optimism that the global pandemic of the coronavirus may have started to peak pulled global equities higher on Tuesday just as traders are about to find out what the impact of the outbreak was on corporate earnings. Stocks in Asia ended the day between 1-3% [..]

Technical Analysis – AUDUSD regains positive momentum as signals for advancement strengthen

Posted on April 13, 2020 at 1:24 pm GMT

AUDUSD looks to be picking up again, something also mirrored within the short-term oscillators. The pair plotted gains above the supportive trend line drawn from 0.5506, with the latest move from 0.5979 extending past the simple moving averages (SMAs). The MACD, although marginally below its red trigger line in the positive section, looks to move back above it, while the RSI rises back into overbought territory. Furthermore, the upward slopes of the 50- and 100-period SMAs and the approaching bullish [..]

Daily Market Comment – OPEC cuts, but oil and stocks don’t ‘buy it’

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

OPEC+ agrees to an almost 10 million barrels/day supply cut Oil opens higher, but surrenders most gains as compliance doubts set in Stocks turn red, yen and gold inch higher in holiday-thinned trading OPEC cuts, but oil can’t stay afloat The world’s biggest oil producers finalized a historic deal to cut their production over the weekend, in an attempt to stabilize a market that has been ravaged by collapsing demand. After a few hiccups with Mexico, OPEC and its allies [..]

Week Ahead – China to reveal virus damage on GDP as markets cling onto optimism

Posted on April 10, 2020 at 11:57 am GMT

As much of the world is stuck in a lockdown, one country where life has started to return to normal will shed some light on the toll of the virus outbreak on its economy as China reports GDP growth estimates. The data could either spread misery or provide a glimmer of hope to those countries still heavily stricken by the coronavirus. US indicators will also be scrutinized as March numbers for retail sales and industrial production are released. But aside [..]

Daily Market Comment – Fed lifts stocks, sinks dollar, turbocharges gold

Posted on April 10, 2020 at 8:31 am GMT

Fed goes ‘all in’ – unveils new $2.3 trillion lending program Stocks climb, dollar drops, and gold goes into overdrive But are markets realistic about the long-term damage? Oil falls after OPEC deal disappoints in size and scope Fed pulls out all the stops to cushion economy, stocks smile The US central bank rode to the rescue once again on Thursday, rolling out a gigantic $2.3 trillion lending package to help smaller and medium sized businesses as well as local [..]

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