All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD heads up after strong sell-off

Posted on February 6, 2024 at 12:20 pm GMT

AUDUSD meets 3-month low Remains beneath medium-term uptrend line and 200-day SMA Stochastic drops to oversold area AUDUSD is moving marginally higher after the aggressive selling interest beneath the medium-term ascending trend line and the record of a new almost three-month low of 0.6467. Technically, the 20-day simple moving average (SMA) is approaching the 200-day SMA for a death cross, while the stochastic oscillator dived in the oversold area and the MACD oscillator is standing in the negative territory, extending [..]

Weekly Technical Outlook – USDJPY, AUDUSD, USDCAD

Posted on February 5, 2024 at 12:32 pm GMT

USD/JPY halts post-NFP gains near familiar resistance; ISM services PMI awaited AUD/USD misses a bullish breakout. Will the RBA come to the rescue? USD/CAD stuck within the 1.3400 territory ahead of Canadian jobs report ISM non-manufacturing PMI –> USD/JPY Another US jobs report beat analysts’ forecasts by a large margin on Friday, helping USD/JPY to close the day higher by 1.3% at 148.32 on expectations the Fed may not cut interest rates in March. The ISM non-manufacturing PMI, which [..]

Week Ahead – RBA decision and US data on the menu

Posted on February 2, 2024 at 11:52 am GMT

Dollar cannot sustain Fed-fueled advance, will ISM data help? Reserve Bank of Australia could abandon its tightening bias Crucial data releases also from China, Canada, and New Zealand Fed warns against early rate cuts It was an eventful week in global markets. The spotlight fell on the Federal Reserve, which shot down expectations it would cut interest rates in March, with Chairman Powell stressing that this is not the “base case” scenario. Even though inflation has declined substantially, Powell downplayed [..]

Technical Analysis – Is AUDUSD set for a break higher?

Posted on February 2, 2024 at 9:04 am GMT

AUDUSD sends some encouraging signals But the bulls need to claim the 0.6600 territory US nonfarm payrolls awaited at 13:30 GMT AUDUSD bulls came into action instantly after the price dropped to a more-than-two-month low of 0.6507 to test the ascending trendline from the 2020 low. The pair finished the day with a bullish long-tailed hammer candlestick, which is theoretically a positive signal of an upside reversal. Yet, traders will need another big green candlestick to confirm a continuation higher. [..]

Will the RBA drop its tightening bias? – Preview

Posted on January 31, 2024 at 3:36 pm GMT

RBA stands pat in December after considering a hike Rate cut bets come forth after weak data and slowing inflation But CPI details may allow officials to keep the tightening door open The decision will be announced on Tuesday at 03:30 GMT December’s hawkish hold At its December decision, the Reserve Bank of Australia (RBA) kept interest rates unchanged after raising them by 25bps in November. The November hike followed a period of four months where borrowing costs remained steady, [..]

Market Comment – Investors lock gaze on Fed decision

Posted on January 31, 2024 at 9:11 am GMT

Fed to stand pat, focus to turn on rate path signals Aussie falls after Australian CPI slows by more than expected Euro slides ahead of preliminary CPI data from Germany Wall Street trades mixed ahead of Fed decision Will the Fed pour cold water on March rate cut bets? The US dollar traded mixed against the other major currencies on Tuesday, but it is gaining ground today. That said, whether the greenback will hold onto those gains will depend on [..]

Technical Analysis – AUDUSD challenges 50-SMA, crucial trendline in sight

Posted on January 30, 2024 at 2:35 pm GMT

AUDUSD slides towards 50-period SMA A violation could open the door for ascending trendline test Oscillators tilt to the bearish side AUDUSD has been in a slow recovery since its January bottom of 0.6524, breaking above the downward sloping trendline drawn from December highs. In the near-term, the price reversed lower after failing to break above the Ichimoku cloud, but the 50-period simple moving average (SMA) has been acting as a strong floor. If the retreat extends below the [..]

Market Comment – Wall Street hits record as yields slide ahead of tech earnings, Fed decision

Posted on January 30, 2024 at 10:28 am GMT

S&P 500 closes at all time high as yields fall after Treasury cuts borrowing estimate But worries grow about China’s economy amid Evergrande fallout Euro steadies as Eurozone dodges a recession Dollar and gold hold within range as ME crisis, Fed angst keep investors on edge Another day, another record for Wall Street Shares on Wall Street surged on Monday after the US Treasury said it will borrow less in the current quarter than what it had estimated back in [..]

Chinese PMIs in the spotlight; Australian inflation key for next week’s RBA – Preview

Posted on January 30, 2024 at 8:03 am GMT

Quarterly Australian inflation on Wednesday; could surprise on the upside Chinese PMI surveys also on Wednesday; Chinese stock indices remains under pressure Aussie’s outperformance against the US dollar depends on stronger data releases Market focusing on the Fed and US labour data Amidst a week monopolized by Wednesday’s Fed meeting and Friday’s US labour market statistics, which could play a crucial role in the market’s short-term performance, the calendar also includes important data releases from both Australia and China. Especially [..]

Week Ahead – Fed and BoE decisions, NFP report, Eurozone GDP incoming

Posted on January 26, 2024 at 11:15 am GMT

It’s a packed week ahead with key central bank decisions and big data releases Will the Fed (Wednesday) and Bank of England (Thursday) signal rate cuts? US jobs report, Eurozone GDP & CPI will also be crucial Plus, Aussie inflation and an OPEC meeting Fed meets: more pushback or a cautious green light? The Federal Reserve’s January policy meeting will undoubtedly be the highlight of the coming week as investors remain convinced a dovish pivot is drawing closer. Speculation about [..]

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