All Articles Tagged - AUDUSD

Daily Market Comment – China GDP rebound adds some cheer, dollar slips but stocks waver

Posted on April 18, 2023 at 9:03 am GMT

Strong Chinese GDP data calms but does not quell fears about growth Asian stocks mixed, European shares climb, higher yields weigh on Wall Street Dollar off highs, pound and aussie lifted by UK jobs data, hawkish RBA minutes Is China’s economy back on track? The economic recovery in China appears to be gaining tract as GDP expanded by a stronger-than-expected 4.5% in the first quarter of 2023, beating forecasts of 4.0%. At a quarterly level, growth quickened to 2.2% from [..]

Daily Market Comment – Dollar’s woes deepen ahead of US retail sales data, stocks rejoice

Posted on April 14, 2023 at 8:57 am GMT

US dollar slumps to one-year low as soft data bolsters case for Fed pause Wall Street rallies on Fed bets, but bank earnings pose a downside risk Fed-ECB divergence pushes euro towards $1.11, yen selloff eases Fed pause seen more likely after latest US data batch It’s been another week of underwhelming data releases out of the United States, and after the latest figures on consumer and producer prices added to the softening economic picture highlighted by last week’s ISM [..]

Technical Analysis – AUDUSD recovers somewhat within upward sloping channel

Posted on April 13, 2023 at 7:21 am GMT

AUDUSD rebounded off the 0.6625 support level, which is also near the lower boundary of the short-term upward sloping channel. Currently, the market is standing above the 20-day simple moving average (SMA) and is approaching a bearish crossover within the 50- and the 200-day SMAs near 0.6740. Technically, the MACD oscillator is holding above its trigger line in the negative region, while the RSI is pointing upwards above the neutral threshold of 50, suggesting that more bullish moves may be [..]

A weak Australian jobs report is expected; what’s next for the aussie – Forex News Preview

Posted on April 11, 2023 at 1:09 pm GMT

The Reserve Bank of Australia (RBA) kept its policy steady last Tuesday but mentioned that more tightening may be needed. Aussie traders may focus on the Australian employment report for March on Thursday at 01:30 GMT. At the moment, investors are almost certain that the RBA will not raise interest rates again. On the other hand, they are almost certain that rates will go down by a quarter-point by the end of this year, and a weak jobs report could back up that view. [..]

Daily Market Comment – Wall Street and dollar see-saw as Fed rate path steepens

Posted on April 11, 2023 at 8:15 am GMT

US stocks stage late rebound despite ratcheting up of Fed rate hike bets Asian mood also perks up as regional central banks seen on pause Dollar extends post-NFP gains before easing again; US CPI the main focus US equities attempt a come-back ahead of earnings Wall Street experienced a see-saw session on Monday as traders had the first chance to respond to Friday’s NFP report when the market was closed for the Easter break. The S&P 500 and Nasdaq both [..]

Weekly Technical Analysis – USDJPY, USDCAD, AUDUSD

Posted on April 10, 2023 at 9:50 am GMT

This week the focus of attention will be on the US CPI data and the FOMC minutes as well as on the BoC decision and the Australian employment report. So, the highlight will be how USDJPY, USDCAD and AUDUSD may react. US CPI → USDJPY In the US, the March reading on consumer prices is due out on Wednesday, and later that day, the FOMC will release the minutes from its latest meeting, at which they raised rates by 25bps [..]

Week Ahead – US CPI data, Fed minutes, and BoC decision on investors’ radar

Posted on April 7, 2023 at 10:46 am GMT

Next week starts on a quiet note as Monday is Easter Monday for most economies on our radar. That said, the calendar becomes heavier as the days pass by, with the spotlight probably falling on the US CPI numbers for March, the minutes from the latest FOMC gathering, and the BoC decision. The US data will probably constitute another piece of information in the riddle of whether the Fed should hit the hike button one last time in May, while [..]

Technical Analysis – AUDUSD remains directionless as 50-day SMA caps upside

Posted on April 7, 2023 at 8:06 am GMT

AUDUSD had been trending lower within a downward sloping channel after peaking at 0.7157 in early February. Although the pair managed to escape this bearish pattern to the upside, it has been stuck in a sideways move as initially the 200- day simple moving average (SMA) and later the 50-day SMA rejected further advances. The momentum indicators are currently endorsing a bearish near-term bias. Specifically, the RSI dropped below its 50-neutral mark, while the stochastic oscillator is falling after posting a bearish cross. Furthermore, the [..]

Daily Market Comment – Dollar extends slide as US job openings tumble

Posted on April 5, 2023 at 8:20 am GMT

US job openings fall to the lowest since May 2021 Wall Street slips as data revives recession fears Gold rallies above $2,000 as Fed pivot bets intensify New Zealand dollar rallies after RBNZ hikes by 50bps Dollar extends losses as speculation about Fed rate cuts increases The dollar extended its losses against most of its major peers on Tuesday, with traders becoming split on whether the Fed will deliver another 25bps hike at its May meeting or not. Following OPEC’s [..]

Technical Analysis – AUDUSD could pivot higher again

Posted on April 4, 2023 at 2:26 pm GMT

AUDUSD reversed half of its Monday gains, pulling straight to 0.6730 after touching the upper boundary of the bullish channel near 0.6790. The RSI and the MACD have weakened closer to their neutral levels on the four-hour chart, reflecting fading buying appetite, though the pair could still find support to pivot higher or stabilize the current downfall. Notably, a bullish cross between the 20- and 200-period simple moving averages (SMAs) is currently in progress, increasing optimism for a positive trend [..]

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