All Articles Tagged - AUDUSD

Market Comment – Investors trim Fed rate cut bets ahead of US jobs report

Posted on January 5, 2024 at 10:32 am GMT

Upbeat US job indicators fuel expectations of a strong NFP report Yields and dollar jump, stocks pressured as rate cut bets go into reverse No boost for wounded euro from pickup in Eurozone inflation Markets have second thoughts about big rate cuts Expectations that the Federal Reserve would aggressively slash interest rates this year took a knock ahead of Friday’s nonfarm payrolls report as investors repositioned themselves following some upbeat data on Thursday. The number of Americans filing for unemployment [..]

Week Ahead – Market spotlight turns to US CPI inflation

Posted on January 5, 2024 at 8:55 am GMT

US CPI inflation is the next big test for the US dollar Yen traders turn to Tokyo CPIs and wages for BoJ exit hints China’s inflation and trade numbers to impact broader sentiment UK monthly GDP on tap amid recession fears Will the US CPIs corroborate the market’s implied Fed rate path? The US dollar staged a decent recovery during the first week of the year, with market participants scaling back some basis points worth of rate reductions expected by [..]

Market Comment – New Year selloff eases despite Fed ambiguity, dollar falls back

Posted on January 4, 2024 at 10:25 am GMT

Fed minutes dent hopes of early rate cut but markets perk up anyway Higher services PMIs lift sentiment in Europe and Asia, boosting US futures too Dollar rebound pauses for breath, oil jumps on supply concerns Fed rate cut bets little changed after December minutes Markets wavered after the Fed published the minutes of its December policy meeting on Wednesday as investors weighed the prospect of rate cuts amid mixed signals from policymakers. The minutes gave no indication that rate [..]

Technical Analysis – AUDUSD shows some upside recovery again

Posted on January 4, 2024 at 8:05 am GMT

AUDUSD remains in bullish territory 50- and 200-day SMAs ready for bullish cross Stochastic looks oversold AUDUSD is recouping some losses of the preceding four red days after it found strong support at the 20-day simple moving average (SMA). Given the current positive momentum, the question now is whether the pair will stay resilient above the 0.6690 key region. A clear step below it would wipe out today’s boost, pressing the price back to the 50- and the 200-day SMAs at 0.6580, which are [..]

Week Ahead – US jobs report and Eurozone inflation to kickstart the New Year

Posted on December 29, 2023 at 8:47 am GMT

NFP report and Eurozone CPI will be the week’s focal point on Friday FOMC minutes and ISM PMIs will also be crucial for the US dollar Canadian employment and Chinese PMIs might attract attention too Rate cut bets in overdrive It’s been one big rollercoaster ride for the US dollar in 2023, as hopes of a Fed pivot were repeatedly dented by surprisingly strong economic data, which more often than not, has come from the robust performance of the American [..]

Technical Analysis – AUDUSD extends recovery; crucial double top in sight

Posted on December 28, 2023 at 8:55 am GMT

AUDUSD hits a fresh five-month peak on Thursday But oscillators have been in overbought levels for several sessions Can the rally resume or are we heading for a pullback? AUDUSD has been staging a solid recovery following its 2023 bottom of 0.6271 in October, generating a clear structure of consecutive higher highs. However, the risk of an impending correction is more than evident as both the RSI and stochastics have been within their overbought areas for the past few sessions. If the [..]

Market Comment – Dollar slips on Q3 data revisions, PCE inflation eyed

Posted on December 22, 2023 at 9:13 am GMT

Q3 GDP and PCE prices revised lower Dollar resumes slide as Fed rate cut bets increase Aussie and yen the main gainers in FX arena Wall Street rebounds, gold breaks key resistance PCE prices for Q3 trimmed ahead of PCE inflation for November The US dollar resumed its downtrend yesterday against all its major counterparts, with the aussie and the yen taking the most advantage and gaining more than 1% each. The greenback is trying to recover a small portion [..]

Technical Analysis – AUDUSD’s bullish wave loses steam

Posted on December 21, 2023 at 9:40 am GMT

AUDUSD takes a breather after hitting a five month high Overbought signals point to a downside reversal Broad bullish channel stays intact AUDUSD corrected moderately lower after a five-day bull run drove the price to a five-month high of 0.6778. The close above the upper Bollinger band and the overbought signals coming from the RSI and the stochastic oscillators suggest the bears might be around the corner. Specifically, the trigger could be a step below the nearby support of 0.6730. In this [..]

Market Comment – Fed pushes back on rate cut talk but markets don’t listen

Posted on December 18, 2023 at 10:00 am GMT

Fed officials attempt to dampen expectations of early rate cut Yields jump, stocks slide, but only temporarily as markets unconvinced Yen edges lower ahead of BoJ decision as expectations of imminent rate hike fade Fed begins damage control Federal Reserve officials have hit the speaking circuit for the first time since Chair Powell’s dovish appearance in his post-FOMC meeting press briefing last week, in what looked to be an attempt to steer markets away from aggressive rate cut expectations. New [..]

Week Ahead – BoJ meets for the last time in 2023, US core PCE and UK CPIs also on tap

Posted on December 15, 2023 at 12:42 pm GMT

Yen traders await BoJ decision for pivot clues US core PCE index the highlight of the US agenda UK CPI numbers to be the pound’s next test Loonie and aussie await Canada’s CPIs and RBA minutes Will BoJ policymakers hint at the end of negative rates? Following a barrage of central bank decisions this week the end credits of major monetary policy decisions for 2023 will roll with the BoJ during the Asian session Tuesday. At their last meeting, policymakers [..]

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