All Articles Tagged - AUDUSD

Aussie looks vulnerable ahead of expected drop in CPI – Preview

Posted on October 23, 2023 at 3:15 pm GMT

Australia’s headline inflation rate probably fell in Q3 But monthly print might be more important after August uptick Can the aussie withstand a selloff from Wednesday’s data (0:30 GMT)? Recent RBA decisions have been a close call The Reserve Bank of Australia’s last few policy decisions have been a close call, but policymakers have nevertheless opted to keep the cash rate unchanged since June. Not closing the door to further hikes has spurred investors to price in at least one [..]

Market Comment – Stocks pummelled as yields and oil extend gains, dollar firms ahead of Powell

Posted on October 19, 2023 at 9:10 am GMT

Bond yields continue to rise as surging oil prices add to higher for longer case Stocks pressured as higher yields start to bite, earnings disappoint Oil and gold ease from highs but eye more gains amid ongoing tensions in Mideast Markets unsettled by geopolitics as oil rallies Stock markets fell deeper into the red on Thursday after widespread losses yesterday on the back of the tense mood in the Middle East that has fanned the rally in crude oil, which [..]

Market Comment – Investors add to Fed hike bets after solid US retail sales

Posted on October 18, 2023 at 8:34 am GMT

US retail sales rise more than expected, bolster Fed hike case Pound slides on slowing wages, rebounds on sticky inflation Aussie and kiwi aided by China’s GDP beat; loonie supported by higher oil prices Wall Street ends mixed; gold extends gains on safe-haven flows Dollar receives support, yields surge on US retail sales beat The US dollar traded mixed against the other major currencies on Tuesday, gaining against the pound, the yen, and the kiwi, but losing ground versus the [..]

Technical Analysis – AUDUSD rebounds but not bullish yet

Posted on October 17, 2023 at 2:34 pm GMT

AUDUSD rotates higher but short-term bias not bullish yet Current resistance at 0.6360; bulls want a rally above 0.6430 China’s Q3 GDP growth figures could move aussie pairs AUDUSD saw fresh buying interest last week near the falling trendline from March 2023. This has increased optimism for the pair to rise towards the resistance trendline from July, located around 0.6400 and near the 200-period exponential moving average (EMA) in the four-hour chart. Technically, the bulls have not gotten the [..]

Australian employment data in focus after hawkish RBA minutes – Preview

Posted on October 17, 2023 at 11:56 am GMT

Labour market statistics coming up on Thursday (00:30 GMT) RBA minutes firmly opened the door for a November rate hike Aussie bulls are desperately looking for a push higher against the US dollar RBA paused but minutes tell a different story Conforming with the key central banks globally, the Reserve Bank of Australia kept its cash rate unchanged at its early October meeting. It was the first meeting under the new Governor Bullock and hence the market had adjusted its [..]

Market Comment – Equities gain, gold slips amid diplomatic push to contain Mideast crisis

Posted on October 17, 2023 at 9:07 am GMT

Risk aversion eases as diplomatic efforts to end Israel-Gaza war ramped up Gold off highs, while earnings optimism additionally boosts Wall Street Dollar steady as yields resume climb ahead of US retail sales, Fed speakers Mood improves on diplomacy hopes Risk sentiment was notably more buoyant on Tuesday as fears about the unfolding situation in Israel and Gaza developing into a wider conflict ebbed somewhat. A rush of diplomacy by global leaders to defuse the crisis appears to have soothed [..]

Weekly Technical Outlook – GBPUSD, AUDUSD, Gold

Posted on October 16, 2023 at 1:56 pm GMT

Gold hits important resistance as geopolitics remain on the forefront GBP/USD has weak technical outlook ahead of key data releases AUD/USD supported near October low; technical picture still fragile Israel-Hamas war –> Gold In response to Israel’s warning, investors sought safety in gold, driving the precious metal up by 3.0% to $1,932 and near its 200-day simple moving average (SMA). The risk of escalation remains intact as the timing of a possible invasion remains unclear while clashes with Lebanon’s Hezbollah militants intensify [..]

Market Comment – Dollar bounces back, stocks slip after US CPI beat

Posted on October 13, 2023 at 9:10 am GMT

Stronger-than-expected US CPI data revives rate hike bets Dollar re-energised, heads for weekly gains as yields jumps Stocks come under pressure, but selloff limited ahead of Q3 earnings Dovish Fed bets dented by CPI surprise Markets whipsawed on Thursday after the US consumer price index rose more than expected in September, dashing hopes that the Fed is done hiking rates. The CPI measure of inflation edged up 0.4% month-on-month, beating forecasts of a 0.3% increase, while the annual figure was [..]

Week Ahead – US retail sales and UK CPI data enter the spotlight

Posted on October 13, 2023 at 8:32 am GMT

After US CPIs, US retail sales may also impact Fed hike expectations Will the UK inflation numbers increase the chances for another BoE hike? Aussie and Kiwi traders await Australia jobs report and New Zealand’s CPI China’s GDP could also impact those commodity-linked currencies Will retail sales allow the dollar to extend its recovery? The dollar traded on the back foot for the better half of this week due to dovish remarks by Fed officials who suggested that the surge [..]

Market Comment – Dollar extends slide on more dovish Fed remarks

Posted on October 11, 2023 at 8:14 am GMT

Fed’s Bostic and Kashkari join the ‘no more hikes needed’ camp PPIs and Fed minutes on tap ahead of tomorrow’s CPIs Aussie and kiwi helped by China stimulus reports Wall Street rebounds as Fed hike probability falls Fed dovish chorus grows louder The US dollar continued drifting lower against most of the other major currencies on Tuesday, as several Fed officials appeared in their dovish suits this week, signaling that they may not need to tighten as much as initially [..]

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