All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD looks for bullish expansion

Posted on December 15, 2023 at 9:11 am GMT

AUDUSD marks new higher high, breaks key resistance area Short-term bias positive, but 0.6715 zone adds some pressure AUDUSD experienced a spectacular rally after a dovish FOMC policy meeting earlier this week, crawling as high as 0.6727 on Thursday – the highest level since the end of July. The bulls have finally breached the resistance trendline from April 2022 with a strong attitude after a failed attempt at the start of the month, increasing optimism that the upside reversal from [..]

Market Comment – Wall Street parties as Fed signals cuts, dollar tumbles

Posted on December 14, 2023 at 10:30 am GMT

Fed makes long-awaited pivot towards cutting rates, markets rejoice Dow Jones soars to new all-time high, S&P 500 approaches its previous record Dollar takes a dive as Treasury yields sink, gold rallies SNB also holds rates, ECB and BoE decisions coming up next Powell gives markets what they wanted The Federal Reserve left interest rates unchanged as expected on Wednesday but struck a somewhat more dovish tone than anticipated, spurring a powerful rally in bond and equity markets. In a [..]

Will the Australian jobs report send the aussie even lower? – Preview

Posted on December 12, 2023 at 1:10 pm GMT

Australia to add fewer jobs than before Unemployment rate forecast to rise Aussie may see more losses after the report Latest employment report of the year to be released on Thursday at 00:30 GMT RBA holds rates steady During its final meeting of the year, the Reserve Bank of Australia (RBA) kept its cash rates unchanged at 4.35%, as was generally anticipated. In her statement from the previous month, Governor Michele Bullock expressed concern that inflation was increasingly fueled by high demand [..]

FX Year Ahead 2024: As the race to cut begins, which currency will come out the winner?

Posted on December 8, 2023 at 1:15 pm GMT

Will Fed officials be the first to cut rates or will the ECB beat them to it? Falling inflation everywhere means a bearish US dollar is not a given Yen stands to gain from rate cuts as BoJ may hike Is sterling set for another bumpy year? Aussie and kiwi pin hopes on China recovery, loonie looks to oil boost Will the dollar bears finally get their way in 2024? After two consecutive years of gains, a correction in the [..]

Week Ahead – Will the central bank bonanza kill the festive joy or fuel it?

Posted on December 8, 2023 at 10:30 am GMT

Fed, ECB, BoE and SNB hold their final policy decisions of the year Will they push back on rate cut expectations? US CPI and flash PMIs will be crucial too UK GDP, Aussie jobs also on the agenda Fed to hold rates but will it signal big cuts? The Federal Reserve is almost certain to keep its policy rate unchanged on Wednesday as the US economy finally appears to be losing some steam and inflation is coming under control. Chair [..]

Technical Analysis – AUDUSD ends another year with negative mode

Posted on December 8, 2023 at 8:37 am GMT

AUDUSD pulls back from 1-year downtrend line Strong resistance lines to test before switching the downtrend RSI and stochastic indicate more losses As the year 2023 is approaching its conclusion, AUDUSD is continuing the descending movement that started back in February 2021. Currently, the pair is testing the downtrend line, which has been drawn since January and the 50-week simple moving average (SMA). According to technical oscillators, they are confirming the recent negative movement on price as the RSI is [..]

Market Comment – Dollar extends recovery despite US job openings drop

Posted on December 6, 2023 at 9:38 am GMT

US job openings fall to lowest in more than 2-1/2 years Treasury yields slide, but dollar extends recovery Schnabel points to end of ECB’s tightening crusade Gold becomes attractive again after hitting $2,010 Dollar defies weak labor data The dollar traded higher against all but one of the other major currencies on Tuesday, with the only currency holding its ground being the Japanese yen. That said, the dollar’s recovery seems to be running out of steam today, with the aussie [..]

Technical Analysis – AUDUSD plummets below uptrend line

Posted on December 5, 2023 at 10:20 am GMT

AUDUSD posts several red candles Holds below the SMAs Technical oscillators hold in negative areas AUDUSD has been in a bearish corrective mode during the week, penetrating the short-term uptrend line to the downside with strong momentum. Entering the 0.6570 area has been a struggle over the past three days, and there might be another tough obstacle within the 38.2% Fibonacci retracement level of the up leg from 0.6338 to 0.6690 at 0.6555, but the bears may not give the [..]

Weekly Technical Outlook – USDJPY, AUDUSD, USDCAD

Posted on December 4, 2023 at 1:00 pm GMT

USD/JPY hovers near a critical support zone ahead of NFP data AUD/USD rally stalls near caution area before RBA rate decision USD/CAD hopes for a rebound, but bullish outlook is not in sight US jobs data, Japan CPI –> USD/JPY It will be a busy week in the US markets as a batch of data are expected to shed some light on whether rate cuts are possible in the middle of next year. The calendar includes the all-important nonfarm [..]

Will the RBA maintain tightening bias after CPI miss? – Preview

Posted on December 1, 2023 at 1:14 pm GMT

RBA is expected to hold rates in December after hiking last month But will it signal future hikes or will it turn more cautious? After soft CPI, RBA’s decision on Tuesday, 3:30 GMT, poses a risk for the aussie New governor has been beating the hawkish drum The Australian economy has been gradually losing steam all year and GDP data due on December 6 is likely to show that growth slowed further in the third quarter. Rising borrowing costs for [..]

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