All Articles Tagged - AUDUSD

Market Comment – Yen on the slide again, aussie slips on RBA, China worries persist

Posted on August 1, 2023 at 9:12 am GMT

Yen extends losses following BoJ’s surprise bond market intervention Aussie plunges after RBA holds rates, weak Chinese PMI weighs too Dollar stays supported, euro fails to capitalize on strong data No love for the yen from the BoJ The Japanese yen found itself in the familiar position of eyeing fresh lows against its major peers after the Bank of Japan unexpectedly intervened in the bond market on Monday to rein in the steep rise in local yields. The jump in [..]

Weekly Technical Outlook – USDJPY, GBPUSD, AUDUSD

Posted on July 31, 2023 at 2:54 pm GMT

Central bank meetings will stay in the limelight for another week, with the Reserve Bank of Australia (RBA) and the Bank of England (BoE) expected to follow their European and US pears in raising interest rates. On the data front, the US employment report might cause fresh swings in rate expectations as the Fed indicated a more data-dependent approach. RBA policy meeting –> AUD/USD The RBA has been raising interest rates with some breaks since March, skipping a rate increase in July for the [..]

Technical Analysis – AUDUSD recoups Friday’s loss ahead of RBA rate decision

Posted on July 31, 2023 at 1:26 pm GMT

AUDUSD has flipped Friday’s loss and is currently aiming to return above its 50-day simple moving average (SMA) and the 0.6700 mark before the Reserve Bank of Australia’s rate announcement hits markets on Tuesday at 04:30 GMT. Despite the steep bounce in the price, uncertainty remains according to the RSI and the stochastic oscillator. The former has stretched its latest downfall below its 50 neutral mark and the latter is still lacking direction slightly above its 20 oversold level. Buyers [..]

Market Comment – Stocks rally but dollar holds firm on soft PCE inflation

Posted on July 31, 2023 at 9:04 am GMT

Expectations of further Fed rate hikes evaporate after dip in core PCE Stocks rejoice but dollar stays in demand as yen’s comeback bid falters RBA decision coming up, BoE next on Thursday ahead of US jobs report Fed pause seen as a certainty after core PCE eases The markets’ conviction that the Fed’s July rate hike was a one and done got a boost on Friday after the central bank’s favourite inflation metric fell more than expected, underscoring the view [..]

Week Ahead – NFP report to probably steal the limelight from BoE and RBA

Posted on July 28, 2023 at 10:29 am GMT

The Bank of England and Reserve Bank of Australia will wrap up the summer central bank decisions in the coming week, although the US jobs report may attract the most attention. The ISM PMIs will be the other highlights in the United States, while employment numbers are due in Canada and New Zealand too. Over in Europe, the agenda will be dominated by flash inflation and GDP data. Oil will also be in the spotlight as the OPEC+ alliance holds [..]

RBA unlikely to raise rates, but might sound hawkish – Forex News Preview

Posted on July 28, 2023 at 10:15 am GMT

The Reserve Bank of Australia (RBA) will conclude its latest meeting at 04:30 GMT Tuesday. Economic developments have been mixed lately, so markets are only pricing in a 20% probability for a rate increase. As for the Australian dollar, the most crucial variable might be the power and scope of China’s stimulus measures, instead of any domestic developments. Mixed news The Australian economy has displayed some mixed signs lately. On the bright side, the labor market is exceptionally tight, with [..]

Technical Analysis – AUDUSD poised for an upturn

Posted on July 27, 2023 at 7:59 am GMT

AUDUSD seems to have secured a strong foothold near 0.6735 and around its 20- and 200-day simple moving averages (SMAs), increasing optimism that the next bull run to 0.6900 could happen soon. From a technical perspective, the pair could recoup some extra ground in the short term as the RSI has avoided a drop below its 50 neutral mark, turning softly higher in the aftermath. Likewise, the stochastic oscillator has changed direction to the upside. Still, traders could maintain some caution as [..]

Daily Market Comment – Investors lock gaze on Fed decision

Posted on July 26, 2023 at 7:50 am GMT

Fed expected to hike, spotlight to fall on hints about next moves Euro awaits ECB; aussie slides on inflation slowdown Wall Street gains, awaits Fed and more tech earnings Will the Fed hint at more hikes? The US dollar traded lower against most of the other currencies on Tuesday, but it seems to be stabilizing today as investors may have turned to a more cautious trading strategy ahead of the FOMC decision later today. A 25bps hike is a done [..]

Technical Analysis – AUDUSD retraces lower after forming double top pattern

Posted on July 24, 2023 at 3:18 pm GMT

AUDUSD has been on the retreat again after its latest bullish breakout from the rectangle pattern encountered resistance at 0.6898, validating a double top pattern. In the near term, the pair’s decline has temporarily paused at the congested region that includes the 200-day SMA and the upper bound of the Ichimoku cloud. This latest pullback is also confirmed by the momentum indicators. Specifically, the RSI declined below its 50 neutral mark, while the MACD retreated beneath its red signal line [..]

Week Ahead – Fed, ECB and BoJ decisions take center stage

Posted on July 21, 2023 at 10:49 am GMT

Following a relatively quiet week in terms of economic data and events, the spotlight now turns to three major central banks: the Federal Reserve, the European Central Bank, and the Bank of Japan. With investors anticipating only one more hike by the Fed, the focus will be on whether officials will signal the end of this hiking cycle, while with several ECB members pushing back on a September hike, it will be interesting to see whether Lagarde has also changed [..]

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