All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD claims fresh 3-month high

Posted on November 21, 2023 at 9:09 am GMT

AUDUSD’s bulls keep control Momentum oscillators enter overbought conditions AUDUSD has found strong resistance near the new three-month high of 0.6585 which is also encapsulating the 200-day simple moving average (SMA). Considering that the short-term oscillators remain tilted to the upside, the price could edge higher and revisit its recent three-month high of 0.6585. Piercing through that wall, the pair may challenge the inside swing low of 0.6620, registered on July 28. On the flip side, should the pair reverse [..]

Has the dollar rally run its course? – Special Report

Posted on November 17, 2023 at 11:24 am GMT

Dollar slides as investors pencil in 100bps worth of Fed rate cuts US economy is expected to slow, but still fare better than its major peers Fed likely to begin rate reductions next year, but ECB may cut earlier Aussie the most likely candidate to outperform the greenback Jobs and inflation data hurt the dollar The US dollar suffered a major blow this week after the US CPI data revealed that inflation cooled by more than anticipated in October, adding [..]

Market Comment – Dollar claws back some losses as relief rally fades

Posted on November 16, 2023 at 10:11 am GMT

Fed rate cut bets scaled back after upbeat US data Wall Street rally loses steam, dollar edges up as yields rebound Global growth worries and disappointing US-China summit also dent mood Post-CPI euphoria fizzles out Equities were muted while the greenback was broadly firmer on Thursday as the relief rally on the back of this week’s cooler-than-expected US CPI readings lost steam following some not-so-soft data yesterday. Treasury yields regained their footing to bounce higher from the CPI-led slump as [..]

Technical Analysis – AUDUSD pulls back from a 3-month high

Posted on November 16, 2023 at 8:55 am GMT

AUDUSD hit a fresh three-month peak of 0.6541 on Wednesday But quickly pared some gains, hinting that the way to recovery is long Momentum indicators diverge from the price action AUDUSD had been in an aggressive decline following a double top pattern in mid-July, with the pair posting consecutive multi-month lows. Even though the price spiked upwards following its bounce off the one-year low of 0.6271, its advance seems to be faltering, despite the momentum indicators being tilted to the upside. Should the [..]

Australian jobs report eyed after upbeat wage data – Preview

Posted on November 15, 2023 at 4:23 pm GMT

Australia to create more jobs, but no serious improvement expected Quarterly wage growth the strongest in 14 years Another rate hike could remain on the table RBA resumes data-dependent approach In contrast to other major central banks, the Reserve Bank of Australia (RBA) hiked interest rates in November under its new chair Michelle Bullock after a four-month pause. But the announcement was well anticipated and a slight dovish tweak in guidance was enough to hammer the Australian dollar. The [..]

Market Comment – Dollar tumbles on cooler-than-expected US inflation

Posted on November 15, 2023 at 9:36 am GMT

Slowing US inflation confirms view that Fed is done with hikes Aussie and kiwi gain the most on bolstering risk sentiment Pound pulls slightly back on lower-than-expected UK inflation Wall Street rallies as investors cheer US inflation data US CPI numbers support ‘Fed is done’ narrative The dollar tumbled across the board yesterday after cooler than expected US inflation data added more credence to investors’ belief that the Fed’s tightening crusade is over, despite Chair Powell and his colleagues pushing [..]

Technical Analysis – AUDUSD corrects lower again and below SMAs

Posted on November 14, 2023 at 8:43 am GMT

AUDUSD tests the 200-day SMA in narrow range Trades sideways after failing to extend its upside move RSI and MACD look optimistic AUDUSD is moving slightly lower today, finding strong resistance near the 200-day simple moving average (SMA), which is acting as a resistance line for the bulls. The pair jumped above the steep descending trend line, which had been holding since the November 6 top of 0.6522, but it is holding within a narrow range of space 0.6338-0.6390. In [..]

Weekly Technical Outlook – EURUSD, GBPUSD, AUDUSD

Posted on November 13, 2023 at 11:09 am GMT

EURUSD stays above key barrier of 1.0665 ahead of US CPIs Hotter-than-expected UK inflation could push GBPUSD above 1.2310 AUDUSD awaits Australia’s jobs report and Chinese data US CPI data -> EUR/USD The US CPI data comes out on Tuesday and expectations are for the headline rate to have declined to 3.3% y/y from 3.7%, while the core rate is expected to have remained close to September’s 4.1%. That said, considering that the PMIs for October suggested softer price pressures, [..]

Week Ahead – US and UK inflation data to take center stage

Posted on November 10, 2023 at 12:20 pm GMT

US inflation numbers the next event to shake up Fed bets Pound traders lock gaze on CPIs after BoE’s hawkish hold Aussie awaits jobs report and Chinese data, Japan’s GDP also on tap Can US CPIs convince investors about one more Fed hike? After taking a strong hit last Friday due to the disappointing US employment report, the dollar staged a shy recovery this week as several Fed officials noted that the stellar performance of the US economy keeps the [..]

Market Comment – Gold slides, dollar regains strength as yields storm back

Posted on November 7, 2023 at 9:37 am GMT

Dollar regains some lost ground as US yields bounce back Gold and oil edge lower – geopolitical risks getting priced out? Aussie sinks despite RBA rate increase, Fed speakers ahead Dollar back in the ring Global markets continue to grapple with a variety of risk factors, from geopolitical tensions to a softer economic data pulse, although the most pressing question for traders is whether yields on government bonds have peaked for this cycle. Yields are essentially the price of money, [..]

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