All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD stops at 4-month highs; positive risks not faded yet

Posted on December 5, 2018 at 7:50 am GMT

AUDUSD reached overbought levels according to the RSI and reversed lower just before touching the 200-day simple moving average (SMA) on the daily chart, creating a new peak at 0.7392, a four-month high. While the aforementioned technical indicator continues to slow down, mirroring the market’s bearish behavior over the past three days, the indicator is still moving in bullish territory, flagging that a recovery could reemerge in the short term. The MACD is also holding above its red signal line, which supports the bullish view [..]

European Open Preview – Markets retrace as trade optimism wanes

Posted on December 4, 2018 at 8:45 am GMT

Trade optimism fades as markets digest the agreement Dollar extends recent pullback Oil continues to recover amid speculation for an OPEC cut RBA slightly more upbeat, but no policy change in sight Stocks edge higher on trade relief, but optimism wanes The boost to global risk appetite following the US-China trade “ceasefire” seems to have been short-lived. Even though US stock markets closed higher, they did surrender a decent part of their gains late in the session, and futures tracking [..]

RBA interest rate decision and Australian GDP growth next on agenda– Forex News Preview

Posted on December 3, 2018 at 4:19 pm GMT

In all likelihood, the Reserve Bank of Australia will keep interest rates at record lows once again on Tuesday at 0330 GMT as the Bank is still monitoring slow progress in household income. A day later, GDP growth figures for the third quarter will come into light (0030 GMT) but analysts do not see expansion picking up speed, justifying somewhat the RBA’s cautious stance. The RBA chief, Philip Lowe, believes that higher interest rates require higher wage growth for consumers to afford increased costs [..]

European Open Preview – Risk-on sentiment resumes as trade storm eases

Posted on December 3, 2018 at 9:28 am GMT

Stocks up, dollar down as trade fears ease French President Macron under political pressure but euro heads up Brexit risks loom in the background Oil surges as Russian President backs production cuts; Qatar to withdraw OPEC membership Stocks head higher on trade relief The US President, Donald Trump, and the Chinese leader, Xi Jinping had progressive trade talks during their dinner on the sidelines of the G20 summit on Saturday, with the world’s largest economies deciding to ceasefire the [..]

Week Ahead – Spotlight on US jobs report after ‘Powell Put’; RBA and BoC meet

Posted on November 30, 2018 at 1:56 pm GMT

The coming week will be significant both in terms of data releases as well as for central bank meetings. November nonfarm payrolls out of the US will likely be the most anticipated report but it’s going to be a big week for the Australian dollar too as Q3 GDP numbers are due along with an RBA meeting. The Bank of Canada will be the other central bank holding a scheduled meeting, though the Canadian dollar will probably be paying more [..]

European Open Preview – All eyes on the Trump-Xi meeting

Posted on November 30, 2018 at 8:40 am GMT

The Trump-Xi meeting is due tomorrow; whether a “ceasefire” is agreed may determine the near-term direction of the dollar and equities Market reaction to FOMC minutes was muted. Attention turns to a speech by NY Fed President Williams today at 1400 GMT Oil rebounds after posting fresh one-year lows, eyes next week’s OPEC meeting Trump and Xi to meet, outcome may shape risk appetite Movements in the FX market were largely subdued, with investors increasingly turning their attention to the [..]

European Open Preview – Powell sinks dollar, but mind the Fed minutes

Posted on November 29, 2018 at 8:38 am GMT

Dollar drops as Powell appears “dovish”. However, markets may have overreacted, hence today’s Fed minutes (1900 GMT) could be crucial Equities and commodity-linked currencies lifted by Powell’s remarks Pound capitalizes on dollar’s pullback and signs voters may support May’s deal Dollar drops as Powell appears “cautious”, but Fed minutes crucial Fed Chair Powell’s speech yesterday was widely perceived as dovish. The comment that grabbed most attention was that rates “remain just below the broad range of estimates that would be [..]

Aussie eyes Chinese PMIs and Trump-Xi meeting – Forex News Preview

Posted on November 29, 2018 at 8:36 am GMT

Chinese official PMI data for November are due on Friday at 0100 GMT. Aussie traders will be eyeing the numbers given Australia’s China-dependency, which has rendered the currency a liquid proxy for Chinese “plays”. More pivotal for the Aussie though is likely to be the outcome of the Trump-Xi weekend meeting on trade at the G20 summit. The manufacturing PMI, which is expected to attract the lion’s share of attention on Friday, is projected to remain at 50.2 in November, its lowest since July 2016. On [..]

European Open Preview – Greenback eyes Fed Chair Powell’s speech

Posted on November 28, 2018 at 8:41 am GMT

Dollar flirts with 1½-year highs as Fed’s Clarida “sticks to script” on hikes; remarks by Fed Chair Powell today at 1700 GMT will be key Stocks briefly slip on rumors of car tariffs but recover on Kudlow’s optimism Pound remains under pressure as political uncertainty reigns Dollar firms after Clarida’s remarks, and amid whispers of car tariffs The greenback shined bright once again on Tuesday, with the dollar index soaring to come within breathing distance of its recent 1½-year highs. [..]

Technical Analysis – AUDUSD loses momentum for bullish correction; indicators signal some gains

Posted on November 28, 2018 at 7:22 am GMT

AUDUSD lost its strong upward momentum over the last week after its fall from the two-and-a-half-month high near 0.7340, reducing the chances for a strong bullish correction. The price started the day in bullish territory, however, it is finding some resistance around the 20-day simple moving average (SMA) near 0.7240. In the short-term, the technical indicators remain in bullish mode with the RSI pointing slightly up, above the neutral threshold of 50, while the red %K line of the stochastic oscillator recorded a positive crossover [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

AUDUSD

XM Live Chat