All Articles Tagged - AUDUSD

Week Ahead – Nonfarm payrolls enter the spotlight, RBA and BoC decide on policy

Posted on December 1, 2023 at 11:31 am GMT

Investors looking to US NFPs for confirmation of their Fed rate cut bets RBA could still signal that higher rates are possible But BoC may confirm that interest rates have peaked in Canada Japan’s Tokyo CPIs and employment numbers to impact BoJ speculation Will the US jobs report change the dollar’s fate? The US dollar has been suffering lately on increasing bets that the Fed will cut rates massively next year. The latest strong hit came from Fed Governor Waller [..]

Technical Analysis – AUDUSD bulls react to yesterday’s red candle

Posted on November 30, 2023 at 8:11 am GMT

AUDUSD in the green again today, close to its 4-month high Aggressive move higher from the October lows Momentum indicators potentially ready to signal a reversal AUDUSD is trying to register a strong green candle as it continues to trade above the key February 2, 2023 descending trendline. It has been an aggressive rally from the 2023 low of 0.6269 recorded in October, with AUDUSD currently hovering close to its 4-month high. All eyes are now on the momentum indicators [..]

Market Comment – Fed’s Waller talks rate cuts and hurts the dollar

Posted on November 29, 2023 at 9:10 am GMT

Dollar extends tumble as Waller raises prospect of lower rates Yen, kiwi, and aussie the main winners once again RBNZ holds rates steady, but lifts OCR projections Gold stretches rally, oil rebounds ahead of OPEC+ decision The hawk who turned into a dove The US dollar accelerated its tumble yesterday, dropping against every other major currency, with the yen, the kiwi and the aussie, securing the most gains once again. This time it was Fed Governor Chris Waller who pushed [..]

Market Comment – Fed cut bets continue to weigh on dollar

Posted on November 28, 2023 at 9:28 am GMT

Dollar extends slide as first 25bps Fed cut seen by June Fed officials speak ahead of PCE inflation data later this week Yen gains on reports the BoJ is considering exiting negative rates Aussie and kiwi stretch rally, RBNZ decision awaited Investors fully price in a 25bps Fed cut in June The US dollar continued trading on the back foot against its major peers on Thursday, losing the most ground against the yen, the aussie, and the kiwi, in that [..]

Technical Analysis – AUDUSD retreats from almost 4-month high

Posted on November 28, 2023 at 9:22 am GMT

AUDUSD shows some weakness in the bullish tendency Holds well above the SMAs MACD and RSI indicate negative correction AUDUSD could not find enough buyers to have a green session after the rally towards the new almost four-month peak of 0.6630. The pair is currently retreating, confirmed by the technical oscillators as well. The RSI is ticking down after the pullback off the 70 level, while the MACD is losing some momentum still standing above its trigger and zero lines. [..]

Market Comment – Dollar and oil extend slide ahead of busy week

Posted on November 27, 2023 at 10:20 am GMT

Major pairs and gold climb to new highs as dollar sags Inflation data and Fed speakers awaited for direction Oil drifts lower ahead of OPEC+ decision Markets cautiously optimistic ahead of key data Trading got off to a cautious start on Monday as investors awaited fresh clues on inflation and the Fed policy path in what looks set to be a more eventful week following the Thanksgiving lull. Although Fed rate cut expectations have been scaled back from around 100 [..]

Week Ahead – All eyes on OPEC+ meeting, US and Eurozone inflation to dominate too

Posted on November 24, 2023 at 10:21 am GMT

Oil’s fortunes hinge on OPEC+ meeting outcome on Thursday Eurozone flash inflation and US core PCE also due on Thursday RBNZ to likely hold rates on Wednesday Loonie faces GDP and employment tests in addition to OPEC+ decision Will OPEC+ agree to production cuts? Amid weakening growth prospects for the major economies in 2024, expectations that the big oil producers will soon announce further production cuts had been the only thing keeping a floor under the price of oil lately. [..]

Market Comment – Oil steadier after nose-dive, dollar pulls back in thin trade

Posted on November 23, 2023 at 10:18 am GMT

Oil plunges on OPEC+ meeting delay, sparking rally in US dollar But dollar resumes decline today as rivals advance on easing gloom Stocks mostly positive in holiday-thin trade Oil prices whipsaw on OPEC+ speculation Markets were hit by some unforeseen turbulence on Wednesday as oil prices plummeted on OPEC’s announcement that Sunday’s meeting has been postponed to November 30. This month’s output decision was already building up to be a major one as the OPEC and non-OPEC alliance was expected [..]

Technical Analysis – AUDUSD challenges the recent 3-month peak

Posted on November 23, 2023 at 7:18 am GMT

AUDUSD faces strong battle near 200-day SMA MACD and RSI suggest bullish bias AUDUSD could not find enough buyers to expand Tuesday’s bull run above the three-month high of 0.6590, closing with some losses on Wednesday. Technically, the short-term risk is leaning to the upside. The price is developing well above the Ichimoku cloud, while the MACD oscillator is strengthening its positive momentum above its trigger and zero lines. Also, the RSI is pointing north and is moving towards the 70 [..]

Market Comment – Wall Street extends gains as dollar flounders, Fed minutes eyed

Posted on November 21, 2023 at 10:03 am GMT

Microsoft leads Wall Street higher, lifted by AI mania and rate cut bets But will FOMC minutes spoil the party? Dollar slips to 3-month lows; aussie surges on hawkish RBA, China boost Stocks enjoy pre-Thanksgiving rally ahead of Fed minutes Equity markets got off to a positive start on Monday in what is a holiday-shortened week in the United States, while the upbeat mood seems to be mostly holding on Tuesday as investors await more clues on the path of [..]

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