All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD strictly capped by 50-day SMA

Posted on September 10, 2024 at 12:42 pm GMT

AUDUSD finds support at 0.6640 Stochastic and MACD keep downside momentum AUDUSD held in losses for the second week in a row, dropping beneath the 20- and 50-day simple moving averages (SMAs) and near key support area of 0.6640 before turning neutral. The stochastic oscillator in the daily chart continues to lose ground in the oversold region, while the MACD is moving well below its trigger line, reducing chances for a meaningful recovery. However, should the price close comfortably above [..]

Daily Comment – Dollar and equities rebound from NFP-led losses as focus turns to US CPI

Posted on September 9, 2024 at 9:22 am GMT

US jobs report adds to slowdown fears but provides no clarity about Fed policy Dollar whipsaws while stocks tumble as ‘September effect’ takes hold But risk sentiment improves ahead of US CPI report and ECB decision Signs of optimism after NFP bloodbath Markets began the second week of September in a somewhat more upbeat mood as US slowdown jitters were put on hold even as inflation data out of China pointed to persistently weak demand in the world’s second-largest economy. [..]

Week Ahead – ECB poised to cut again, US CPI to get final say on size of Fed cut

Posted on September 6, 2024 at 11:25 am GMT

ECB is expected to ease again, but will it be another ‘hawkish cut’? US CPI report will be the last inflation update before September FOMC UK monthly data flurry begins with employment and GDP numbers ECB to cut rates for second time The European Central Bank’s carefully choreographed rate-cutting cycle got off to an awkward start in June after last-minute data upsets. For credibility’s sake, policymakers had only one choice – press ahead with the planned 25-basis-point rate reduction but [..]

Technical Analysis – AUDUSD bounces off 0.6700 but looks weak

Posted on September 6, 2024 at 6:43 am GMT

AUDUSD flirts with weekly downtrend line Stochastics create bullish cross But RSI holds near neutral level AUDUSD has reversed to the upside after the rebound off the 0.6700 round number with strong barrier coming from the weekly descending trend line around 0.6750. Over the last couple of weeks, the market has been developing back and forth of the aforementioned diagonal line, looking weak to change the outlook to a more positive one. Technically, the stochastic oscillator posted a bullish crossover [..]

Daily Comment – Equities weakness lingers as focus remains on US data

Posted on September 5, 2024 at 7:39 am GMT

Equities remain on the back foot as key US data on the menu today ADP, jobless claims and ISM Services could prove market moving Dollar’s mixed performance continues, yen benefits OPEC+ production rumours fail to push oil prices higher US data releases in the spotlight Equity markets continue to exhibit a rather unexpected fragility as second tier data like Wednesday’s JOLTs job openings resulted in another negative session in most stock indices around the globe. This market behaviour is a [..]

Daily Comment – Wall Street tumbles amid September blues

Posted on September 4, 2024 at 8:36 am GMT

Yen and franc gain, aussie the main loser Wall Street tumbles on risk-off September start ISM mfg. PMI rekindles economic concerns Oil collapses on prospect of Libyan accord Risk aversion prevails The US dollar outperformed most of its major counterparts on Tuesday, losing ground only versus the traditional safe havens such as the yen and the franc. The biggest loser was the commodity-linked aussie. The strengthening of the safe havens and the weakening of the risk-linked currencies suggests that risk [..]

Weekly Technical Outlook – USDJPY, USDCAD, AUDUSD

Posted on September 2, 2024 at 1:12 pm GMT

USDJPY aims to break above 20-SMA ahead of the NFP report. Will it be successful this time? USDCAD stops at 5-month low as the focus turns to the BoC rate decision AUDUSD hangs near 8-month high; Australian GDP is on the calendar Nonfarm payrolls, ISM PMIs –> USDJPY USDJPY is looking for fresh buying as it is still striving for a close above the 20-day simple moving average (SMA) and beyond the 146.00 number. The next market mover could [..]

Technical Analysis – AUDUSD meets the weekly falling trend line

Posted on September 2, 2024 at 12:42 pm GMT

AUDUSD loses some momentum Stochastics ease from overbought area RSI heads north above 50 level AUDUSD is battling with the weekly downtrend line near the 0.6770 level after the failure attempt to rise above the 0.6820 high. The stochastic oscillator is diving from the overbought region; however, the RSI indicator is pointing marginally up slightly beneath the 70 level. If the price remains above the descending line, then it may rechallenge the 0.6820 peak ahead of the 0.6870-0.6900 restrictive region. [..]

Week Ahead – Investors brace for NFP amid Fed rate cut speculation

Posted on August 30, 2024 at 8:58 am GMT

Traders see decent chance for 50bps Fed cut in September Powell adds extra importance to jobs data, NFP awaited BoC decides on rates, third consecutive cut is fully priced in Aussie traders lock gaze on GDP numbers Bets for double Fed cut remain elevated Here comes another NFP week, with investors eagerly awaiting the results as they try to discern the size and pace of the Fed’s forthcoming rate cuts. The weaker than expected July numbers triggered market turbulence, [..]

Daily Comment – Nvidia earnings fail to buoy markets, focus turns to US data

Posted on August 29, 2024 at 8:51 am GMT

Nvidia slumps in after-hours trading as earnings don’t excite Equities mixed as attention turns to US data for direction Kiwi outperforms, euro slips on soft German and Spanish CPI figures No post-Nvidia boost for equities Nvidia’s much anticipated earnings results for the second quarter failed to deliver on the very high expectations even as the chip giant saw its revenue more than double from a year ago. Both revenue and earnings per share beat the consensus estimates and the company’s [..]

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