All Articles Tagged - AUDUSD

Will China’s business PMI data calm growth stress? – Preview

Posted on August 30, 2023 at 1:16 pm GMT

Chinese markets continued to have bearish vibes in August and international assets that rely on Chinese business conditions suffered too, ultimately reducing global growth potential. On Thursday, China’s National Bureau of Statistics will release new data on manufacturing and services activity, with forecasts pointing to a mixed, but still unfavorable report. Chinese markets suffer China’s SSE composite industrial index experienced one of its worst monthly declines in more than a year, falling by 5.0% m/m. Its renminbi currency has depreciated [..]

Technical Analysis – AUDUSD hovers around moving averages as 0.64 support holds

Posted on August 29, 2023 at 3:07 pm GMT

AUDUSD has been trading sideways since the middle of August as its month-long slide came to a halt, while since late August, price action has been centred around the flatlining 20- and 50-period simple moving averages (SMA). During this period, a support base has been established between 0.6380 and 0.6400, while to the upside, the Ichimoku cloud has stood in the bulls’ way. The momentum indicators point to a mixed bias in the near term. The fast stochastic (%K) has [..]

Weekly Technical Outlook – USDJPY, EURUSD, AUDUSD

Posted on August 28, 2023 at 3:05 pm GMT

The Fed and the ECB reiterated that inflation remains undefeated and interest rates may remain elevated during the Jackson Hole Symposium last week, but again they refrained from providing any clear signals about what the next rate decision will be. That throws a brighter spotlight on upcoming economic data. Specifically, the US nonfarm payrolls report, eurozone’s CPI inflation and China’s PMI figures will be important to watch as USD/JPY, EUR/USD and AUD/USD trade near a make-or-break point. US Nonfarm [..]

Market Comment – Equities climb despite Jackson Hole’s higher for longer warning

Posted on August 28, 2023 at 9:20 am GMT

Rate hike odds edge up after Powell and Lagarde signal inflation fight not over But dollar steady as yields barely budge, Wall Street closes higher China announces more stimulus, stocks jump before paring gains Powell strikes a balanced tone Markets were still digesting Powell’s Jackson Hole speech on Monday amid a mixture of relief and trepidation after the Fed chief struck a mostly balanced tone on the rate outlook with a slightly hawkish tint. As had been widely anticipated, Powell’s [..]

Week Ahead – Volatility to continue as US jobs and inflation data on the way

Posted on August 25, 2023 at 12:09 pm GMT

Markets have been taunted by shifting Fed expectations over the past week and there’s likely to be more anguish for investors in the next few days as crucial payrolls and inflation numbers are coming up. The August jobs report and PCE inflation readings will be closely watched amid signs the US economy is starting to lose steam fast. The Eurozone economy is going through an even rougher patch, putting the spotlight on flash CPI figures. China has been another source [..]

How much trouble is China’s economy in and is there a risk for global contagion? – Special Report

Posted on August 24, 2023 at 3:16 pm GMT

China has long been the world’s growth engine, but that status is under threat as its economic recovery has hit a major stumbling block and the high-growth era seems to be well and truly over. Exports are falling, consumers aren’t spending much, bank lending is slowing and the crisis in the property sector only seems to be deepening. Can the Chinese government navigate its way out of this mess, which is partly its own doing, or is there more pain [..]

Technical Analysis – AUDUSD steps on the 2020 support trendline

Posted on August 24, 2023 at 7:38 am GMT

AUDUSD stayed above the 2020 support trendline after testing it for the third time since the pandemic fallout. This happened after a bearish five-week streak that caused the price to drop to a nine-month low of 0.6363. The pair is set to post its first weekly gain in five weeks as the price picks up positive momentum towards its 20-day simple moving average (SMA) at 0.6511. The upside reversal in the RSI and the Stochastic oscillator are promoting the upturn in the [..]

Market Comment – Dollar trades mixed, awaiting Powell’s speech; Euro slides on PMIs

Posted on August 23, 2023 at 8:14 am GMT

Dollar trades mixed as Jackson Hole draws closer Fed’s Barkin sees reacceleration scenario Euro falls on PMIs, UK PMIs next Wall Street turns spotlight to Nvidia earnings Fed’s Barkin adds to the likelihood of more Fed hikes The US dollar traded mixed against the other major currencies on Tuesday as traders may be reluctant to assume large positions ahead of the Jackson Hole economic symposium and Fed Chair Powell’s speech on Friday. With the Fed turning data dependent and US [..]

Market Comment – Dollar traders turn cautious ahead of Jackson Hole; PBOC bolsters yuan

Posted on August 22, 2023 at 8:02 am GMT

Dollar pulls back on cautious trading ahead of Jackson Hole 10-year Treasury yields extend rally to levels last seen in 2007 China’s central bank sets yuan mid-point higher than expected Nvidia lifts both Nasdaq and S&P 500 ahead of its earnings Dollar slides but yields keep surging; Jackson Hole awaited The US dollar traded lower against most of the other major currencies on Monday and remained on the back foot today. With no major catalyst behind the dollar’s setback, it [..]

Market Comment – Global stock rout deepens amid China gloom, jump in yields

Posted on August 18, 2023 at 9:33 am GMT

Stocks extend slump as China fears intensify, yields scale fresh highs Dollar on a winning streak as Wall Street heads for third weekly loss Markets eye more China rate cuts and Jackson Hole for Fed clues More pain for risk assets The rout in global stock markets shows no signs of ending on Friday even as the surge in bond yields has eased off a little. It’s been a torrid week for equities, which have been hammered by a tale [..]

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