All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD clears key barrier but another one on the horizon

Posted on November 6, 2023 at 2:14 pm GMT

AUDUSD claims 0.6400 zone after fast rally Short-term bias positive, but there are more threats higher RBA to raise interest rates, but the aussie may not gain AUDUSD breached the tough 0.6430-0.6450 zone with strong momentum to rise straight up to the August bar of 0.6520 last Friday. The possibility of a rate hike has investors in a wait and see mode as the Reserve Bank of Australia meets on Tuesday. Traders might sell the fact if the central [..]

Weekly Technical Outlook – EURGBP, AUDUSD, USDJPY

Posted on November 6, 2023 at 12:56 pm GMT

UK GDP in focus this week; pound could significantly benefit from a strong print RBA meeting and Chinese data could push aussie even higher against the US dollar USDJPY could break below its upward trending channel if Japanese data improve UK GDP Q3 print -> EURGBP The Bank of England kept its main bank rate unchanged at last week’s meeting despite the inflation rate remaining at a very high level. Bailey et al kept the door open to further tightening [..]

Technical Analysis – AUDUSD overcomes hurdles after NFP miss

Posted on November 3, 2023 at 1:48 pm GMT

AUDUSD breaks familiar resistance zone after dissapointing NFP data Technical signals improve, but some caution necessary AUDUSD rose rapidly in the wake of a weaker-than-expected US jobs report, crossing above the long-term constraining line from the 2020 low at 0.6450 after a couple of failed attempts. The RSI has finally advanced above its 50 neutral mark for the first time after three months, boosting optimism that the bulls could stay in play in the coming sessions. The rising MACD, [..]

Week Ahead – RBA rate decision and UK growth on the radar

Posted on November 3, 2023 at 10:47 am GMT

Reserve Bank of Australia could raise rates on Tuesday Chinese trade and inflation stats also in the spotlight UK economy likely contracted in Q3 – can sterling hold on? RBA decision will be a close call With most of the major central bank decisions in the rear-view mirror and volatility in bond markets coming down, a quieter week lies ahead for FX traders. Most of the focus will fall on the Reserve Bank of Australia’s rate decision on Tuesday, [..]

Will the RBA confirm the rate hike expectations? – Preview

Posted on November 2, 2023 at 3:05 pm GMT

RBA could announce a 25bps rate hike at its November meeting Hawkish bias could be maintained if quarterly forecasts revised higher Aussie/dollar’s current upleg could pick up speed after RBA meeting The meeting statement will be released on Tuesday at 03:30 GMT RBA ready for action The Reserve Bank of Australia is preparing for its 10th rate-setting meeting for 2023. It is shaping up to be the most interesting one in the current round of central bank meetings, as the RBA is widely expected to [..]

Market Comment – Yen defies BoJ, tumbles after tweak to yield policy

Posted on October 31, 2023 at 10:19 am GMT

Bank of Japan adjusts yield curve control policy again, but yen skids Yields edge lower after Treasury Department says will borrow less in Q4 Dollar mixed, euro extends gains, stocks perk up Yen not impressed by BoJ’s incremental move The Bank of Japan took another step towards policy normalization on Tuesday, tweaking its yield curve control policy (YCC) for the second time this year amid signs of broadening inflationary pressures. As expected, the Bank upped its inflation forecasts for the [..]

Chinese PMI on the menu as growth worries linger – Preview

Posted on October 30, 2023 at 8:23 am GMT

Two sets of PMIs will be released on Tuesday, Wednesday and Friday respectively Improvement would be welcomed as Chinese support measures multiply Aussie to benefit from positive releases but outlook remains cloudy China continues to address domestic issues Following the gradual easing in global inflation rates over the summer, the market turned its focus firmly on China. The Asian powerhouse is the barometer for the region and globally, as evident by the noticeable slowdown in Germany during 2023. The news [..]

Week Ahead – Will BoJ steal the limelight from Fed and BoE?

Posted on October 27, 2023 at 10:41 am GMT

Central bank meetings continue in earnest with BoJ, Fed and BoE Fed and BoE to likely stand pat, but BoJ might tweak policy again NFP report and Eurozone flash GDP and CPI data also in focus Fed pause likely to be of little relief for yields Just a few weeks ago the November FOMC meeting was seen as a live one, but expectations of a rate hike have evaporated in the run up to Wednesday’s decision. The latest commentary from [..]

Market Comment – Better-than-expected US PMIs help the dollar rebound

Posted on October 25, 2023 at 8:13 am GMT

PMIs suggest the US economy entered Q4 on solid footing The divergence between US/Eurozone outlooks weighs on euro/dollar Aussie rallies on stickier inflation, yen pinned near 150-per-dollar mark Wall Street pays attention to corporate earnings Euro/dollar slides from near key resistance on PMI data Although the 10-year US Treasury yield held steady comfortably below the psychological zone of 5%, the US dollar was able to stage a comeback against most of its major counterparts as the flash US PMIs for [..]

Technical Analysis – AUDUSD creates triple bottom pattern

Posted on October 24, 2023 at 1:13 pm GMT

AUDUSD prints a bullish pattern but confirmation needed Technical signals reflect some caution AUDUSD held steady above the 10-month low of 0.6284 for the third time this month, indicating a potential bullish triple bottom pattern. The positive structure needs confirmation above the 0.6435 region, where the broken support trendline drawn from the 2020 trough and the 23.6% Fibonacci retracement of the latest downleg are placed. But the resistance trendline from July could cancel any immediate increases at 0.6383. If it doesn’t [..]

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