All Articles Tagged - AUDUSD

Technical Analysis – AUDUSD still waits for support after new lows

Posted on September 28, 2023 at 8:56 am GMT

AUDUSD extends downtrend Short-term outlook is gloomy, but recovery attempts still likely Eyes on 0.6300 ahead of RBA meeting AUDUSD plunged to a new 10-month low of 0.6330 on Wednesday, putting the downtrend from July back into play ahead of RBA’s policy decision on Tuesday. The clear bearish breakout below the 2020 support trendline has further worsened the short-term outlook. Despite that, the price hasn’t deviated significantly below its September-August lows, and it’s still hovering around the lower Bollinger band. This [..]

Weekly Technical Outlook – USDJPY, EURUSD, AUDUSD

Posted on September 25, 2023 at 3:09 pm GMT

US inflation could ease; will USD/JPY extend uptrend above 150? Eurozone inflation to soften too; EUR/USD at a make-or-break point Australian inflation to reverse higher; AUD/USD looks for a rebound US core PCE inflation –> USD/JPY The Fed’s favorite core PCE inflation index is expected to ease significantly to a new two-year low of 3.9% y/y on Friday at 12:30 GMT, erasing July’s moderate pickup to 4.3% y/y. If this turns out to be the case, the news could sound music to [..]

Could the CPI release change RBA’s preset course on rates? – Preview

Posted on September 25, 2023 at 8:48 am GMT

Key data releases scheduled with the market counting down to the next RBA meeting The RBA is feeling relieved after the decision to pause by the Fed August CPI (01:30 GMT) could provide some breathing space to the aussie RBA was first on the scene The RBA kicked off the busy central banks’ season by keeping rates unchanged at 4.1% at the September 5 meeting. Possibly stealing a page from Fed governor Powell’s book but mostly aligning with the message [..]

Week Ahead – US core PCE and Eurozone flash CPIs eyed after rate pause signals

Posted on September 22, 2023 at 10:17 am GMT

PCE inflation to grab attention on Friday as Fed signals higher for longer But markets might be more worried about a government shutdown Eurozone flash CPIs will also be the in the spotlight on Friday Chinese PMIs to be watched for recovery signs Will core PCE add to second inflation wave worries? The latest spike in oil prices is causing some headaches for policymakers as energy costs are on the rise again just as they’ve started to see the result [..]

Technical Analysis – AUDUSD edges lower, bearish sentiment lingers

Posted on September 21, 2023 at 6:50 am GMT

AUDUSD is edging lower today, reacting to yesterday’s key event The pair remains very close to the new 2023 low registered on September 6 The momentum indicators appear to support the downleg at this juncture AUDUSD is experiencing its second straight red candle, canceling out most of the upleg recorded since the September 6 low. The overall sentiment remains bearish despite the aggressive sell-off that took place after the formation of the double top pattern in July. Therefore, all eyes are on [..]

Technical Analysis – AUDUSD edges higher but it appears to be a low conviction move

Posted on September 15, 2023 at 12:43 pm GMT

AUDUSD bulls anxiously pushing for a sizeable bullish move The pair remains close to the new 2023 low recorded on September 6. Only the stochastic oscillator supports the muted upleg at this juncture. AUDUSD is experiencing its third straight green candle, but the market is probably taking a defensive stance ahead of next week’s key events. The bulls’ efforts appear to have stopped at the key 0.6458 level, but the stochastic oscillator’s next move could give them the necessary boost. In the meantime, [..]

Market Comment – Euro skids after ECB hike, China data lifts sentiment

Posted on September 15, 2023 at 9:28 am GMT

Euro tumbles as ECB raises rates but hints at pause US dollar hits 6-month high after US retail sales beat Stocks rally on upbeat Chinese data but watch out for triple witching ECB makes surprise hike despite gloomy outlook The European Central Bank raised its key lending rates by 25 basis points on Thursday, taking some investors by surprise amid a split within the Governing Council heading into the meeting. Markets and economists were certain policymakers were going to skip [..]

Technical Analysis – AUDUSD attempts recovery from 10-month low

Posted on September 14, 2023 at 7:10 am GMT

AUDUSD hit a fresh 10-month bottom of 0.6356 last week Regained some ground but clearly not out of the woods yet Momentum indicators suggest that the rebound could strengthen 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 managed to find its feet at a fresh 10-month bottom and recoup some losses, the road to recovery seems rather long. Should the negative pressures wane, the [..]

Market Comment – Yen jumps on hawkish Ueda remarks, dollar slips ahead of US CPI

Posted on September 11, 2023 at 9:29 am GMT

BoJ’s Ueda hints at end to negative rates by year-end if wages rise Dollar starts week on the backfoot as crucial CPI data awaited China hopes lift aussie, equities; easing Apple selloff helps stocks too Ueda sparks BoJ policy speculation The Japanese yen shot higher on Monday, climbing against all of its major peers after Bank of Japan Governor Kazuo Ueda fanned speculation of an early exit from ultra-easy policy in an interview with the Yomiuri newspaper over the weekend. [..]

Will Australia’s employment report matter for the aussie? – Preview

Posted on September 8, 2023 at 9:58 am GMT

Despite the Reserve Bank of Australia (RBA) leaving the door to further hikes open at its latest policy decision, investors are largely convinced that this Bank’s tightening campaign is already over, with the Australian dollar remaining largely a victim of concerns surrounding China. Will Australia’s employment report bring the aussie back to life? The data comes out on Thursday at 01:30 GMT. Market believes the RBA is done raising rates At this month’s gathering, RBA policymakers refrained from pushing the [..]

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