All Articles Tagged - AUDUSD

China’s economy likely accelerated in Q4, but will this lift the gloom? – Preview

Posted on January 15, 2024 at 3:36 pm GMT

Chinese GDP growth probably quickened in Q4 But doubts remain about 2024 outlook Risk assets could rally if data due on Wednesday, 02:00 GMT is upbeat China’s rebound hits a wall China’s economic recovery has been a big talking point for the markets over the past year, as the lifting of most Covid curbs at the end of 2022 failed to propel growth as intended. Instead, the world’s second largest economy became a drag on global growth, as authorities struggled [..]

Market Comment – Rate cut bets surge again but dollar goes sideways, stocks muted

Posted on January 15, 2024 at 10:39 am GMT

Fed rate cut expectations go into overdrive after soft US producer prices Bond yields slip, but dollar little changed and mixed earnings weigh on stocks Focus shifts to Chinese growth and global inflation trends this week March rate cut back in play After brushing aside a hotter-than-expected CPI report last week, investors betting on an imminent pivot by the Fed were emboldened on Friday from a very soft set of producer prices. The final demand producer price index edged up [..]

Weekly Technical Outlook – EURUSD, GBPUSD, AUDUSD

Posted on January 15, 2024 at 9:55 am GMT

EUR/USD resilient below 1.1000 as US retail sales awaited UK CPI to fall but will GBP/USD extend rebound? China’s GDP growth could rise; AUD/USD looks for pullback US retail sales –> EUR/USD Retail sales will be the main focus in the US, while the other releases will primarily consist of second-tier data. Although there has been a deceleration in US consumer spending following a rise throughout the summer, it is not expected to see a sudden and drastic decline. In [..]

Week Ahead – China GDP and December CPI reports eyed amid rate cut frenzy

Posted on January 12, 2024 at 11:56 am GMT

China reports Q4 GDP data on Wednesday; is a rebound in store? CPI numbers due in UK, Japan and Canada Retail sales to be the main focus in the US Is China’s recovery getting back on track? The Chinese economy suffered several wobbles in 2023, as the property crisis went from bad to worse. Markets held their breath for a major stimulus announcement, but with one eye on deleveraging, authorities’ response only went as far as offering targeted drip-feed measures, [..]

Technical Analysis – AUDUSD remains in positive territory

Posted on January 12, 2024 at 8:51 am GMT

AUDUSD fails to fall below 0.6645 Price holds well above uptrend line RSI is flattening AUDUSD has been in a somewhat positive corrective mode during the week, earning back some losses from the December 28 high of 0.6870. Entering the 0.6700 area has been a struggle over the past few days, and there might be another tough obstacle within the 0.6740 region, which is the 20-day simple moving average, but the bulls may not give the battle yet according to [..]

Market Comment – Dollar resumes recovery, bitcoin awaits ETF decision

Posted on January 10, 2024 at 9:36 am GMT

Dollar recovers as traders await CPI inflation data Fake SEC message triggers volatility in bitcoin Dow Jones and S&P 500 slide, Nasdaq remains elevated Oil recovers on US inventory drawdown Dollar recovers but March Fed cut probability remains high The US dollar resumed its recovery against all its major counterparts on Tuesday, although it is trading steady on Wednesday. That said, this time, the dollar’s recovery is not a reflection of investors scaling back their Fed rate cut bets. On [..]

Technical Analysis – Will AUDUSD start a battle with 200-SMA?

Posted on January 9, 2024 at 10:18 am GMT

AUDUSD looks bearish after topping at 0.6870 200-period SMA acts as strong support AUDUSD has been underperforming in the past two four-hour sessions, breaking back below the 20-period simple moving average (SMA). When looking at the bigger picture the pair is still positive, trading above the 200-period SMA. However, in the very short-term, the technical oscillators are suggesting more weakness. The RSI is falling after the pullback off the neutral threshold of 50, while the MACD is extending its bearish [..]

Will the US CPIs help the dollar extend its recovery? – Preview

Posted on January 8, 2024 at 3:31 pm GMT

Dollar’s recovery pauses after NFP and ISM data Investors continue to price in aggressive rate cuts by the Fed Attention now turns to CPI inflation on Thursday, at 13:30 GMT Will the dollar resume its upside trajectory? Friday’s data halt the dollar’s rebound The dollar entered the new year on a strong footing, but soon after the US jobs data was out, its march north came to a halt. The world’s reserve currency extended its rally at the time the [..]

Weekly Technical Outlook – USDJPY, GBPUSD, AUDUSD

Posted on January 8, 2024 at 1:44 pm GMT

USD/JPY resumes cautious mood ahead of CPI inflation GBP/USD sends mixed signals as GDP figures awaited AUD/USD trades at a make-or-break point; inflation and China’s data eyed US CPI inflation –> USD/JPY Nonfarm payrolls increased by 210k in December, more than analysts’ forecast of 170k, and the unemployment rate ticked down to 3.7%, sending USD/JPY closer to the 146.00 mark on Friday. Despite that, gains proved short-lived after the ISM services PMI report surprisingly headed lower, indicating careful hiring, persisting [..]

Technical Analysis – AUDUSD corrects lower above uptrend line

Posted on January 8, 2024 at 1:31 pm GMT

AUDUSD flirts with bearish retracement RSI dives but stochastic looks ready for upside recovery AUDUSD has slipped back below the 20-day simple moving average (SMA) of 0.6720, raising worries that the pullback from the 0.6870 resistance level could open the way for further declines. The 200-day SMA at 0.6580, which is acting as strong support, could play a key role to halt bearish actions towards the medium-term rising trend line at 0.6570. If that bearish scenario unfolds, the pair could tumble towards [..]

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