All Articles Tagged - AUDUSD

Week Ahead – Eurozone and US inflation to come under the microscope after rate decisions

Posted on March 24, 2023 at 12:52 pm GMT

Amid ongoing jitters about the fallout from the banking sector, inflation will fall back into the limelight next week. The flash CPI readings for the euro area as well as the PCE inflation figures out of the United States will grab most of the headlines, in an otherwise quiet week. Australia will also get inflation data, and in Japan, Tokyo prices will be watched. Hot CPI numbers could roil markets as central banks have indicated that they are not about [..]

Technical Analysis – AUDUSD tests the 200-day SMA after rebound off 0.6560

Posted on March 23, 2023 at 8:08 am GMT

AUDUSD rebounded off the 0.6560 support level and is heading towards the 200-day simple moving average (SMA), which stands near 0.6755. The bulls may be optimistic for more upside movements as the MACD is heading north above its trigger line in the negative region and the RSI is crossing the 50 level to the upside. In the positive scenario, in case of a successful climb above the 200-day SMA, then the market may challenge the 50-day SMA around the 0.6857 [..]

Technical Analysis – AUDUSD pauses decline but bearish pattern remains intact

Posted on March 16, 2023 at 8:43 am GMT

AUDUSD had been in a prolonged uptrend since mid-October, generating a clear structure of higher highs and higher lows. Nevertheless, the pair has been experiencing a significant downside correction in the short term, with the price trading within a downward sloping channel after peaking at 0.7157. The momentum indicators currently suggest that bearish forces are waning but remain in control. Specifically, the MACD histogram has jumped above its red signal line but remains in the negative territory, while the RSI is pointing upwards [..]

Daily Market Comment – Markets rebound, then falter as fears grow over Credit Suisse

Posted on March 15, 2023 at 10:31 am GMT

SVB contagion fears continue to recede, spurring a global rebound in stock markets But the mood sours again as Credit Suisse shares sink, euro skids Treasury yields make a partial recovery, Fed rate hike path steepens only slightly US CPI not much help to wounded dollar as focus turns to ECB decision Risk appetite on the mend but new risks arise Investor jitters following the biggest US bank failures since the 2008 financial crisis abated further on Tuesday as a [..]

China’s data might be a bright spot on the calendar – Forex News Preview

Posted on March 14, 2023 at 3:55 pm GMT

Industrial production, fixed investment and retail sales data for January-February will come out in China on Wednesday at 02:00 GMT as investors look for signs of economic expansion in the world’s second biggest economy after an extended lockdown period. The data could embrace hopes for a recovery, though investors may need to be less ambitious as uncertainties internally and externally remain intact. China’s reopening adds support to markets China reopened to the world after two years of zero covid policy, [..]

Daily Market Comment – Bank stocks pummelled but some calm restored ahead of US CPI

Posted on March 14, 2023 at 10:08 am GMT

Financial stocks remain pressured but broader selloff eases as panic subsides US inflation in the spotlight after sharp repricing of Fed rate hikes Gold and cryptos softer after surge, yields steadier, dollar edges up Bank rout turns global but wider equities rebound Equity markets were showing some signs of life on Tuesday following a brutal selloff in the preceding days that was led by a plunge in banking stocks triggered by the collapse of SVB and Signature Bank. Emergency measures [..]

Technical Analysis – AUDUSD meets upper boundary of descending channel

Posted on March 14, 2023 at 8:25 am GMT

AUDUSD is flirting with the upper boundary of the medium-term descending channel and the 50-period simple moving average (SMA) in the 4-hour chart. The technical oscillators currently confirm this upside pressure as the RSI is pointing upwards, while the MACD is standing above its trigger and zero lines. If the market jumps above the aforementioned lines, then it may challenge the 0.6715 resistance as well as the 0.6775 barrier, switching the short-term bias to positive. Even higher, the 0.6840 level [..]

Weekly Technical Analysis – USDJPY, EURUSD, AUDUSD

Posted on March 13, 2023 at 11:58 am GMT

This week the focus of attention will be on the US CPI figures, the ECB meeting and the Australian employment report and how USDJPY, EURUSD and AUDUSD may react. US CPI → USDJPY The US CPI figures are coming out on Tuesday and it will be crucial for traders, as they might determine whether FOMC members vote for a 25 bps or 50 bps rise at their March policy meeting. The month-over-month rises for both the headline and core CPIs are predicted at 0.4% in February. USDJPY is currently printing the fourth [..]

Week Ahead – US inflation, ECB decision to test markets’ nerve

Posted on March 10, 2023 at 12:16 pm GMT

The US inflation report and the European Central Bank’s policy meeting will share the limelight next week amid another round of ratcheting up of rate hike expectations by investors. Other critical data such as Chinese industrial output, Australian employment and New Zealand GDP estimates might thus get overshadowed. Meanwhile in the UK, it’s budget time again, although the event is not expected to generate as much volatility as last time. CPI report could make the case for 50-bps hike There’s [..]

What do higher US interest rates mean for the risk-linked currencies? – Special Report

Posted on March 10, 2023 at 11:15 am GMT

With expectations about the Fed’s future course of action changing radically lately, the commodity-linked or risk-sensitive currencies aussie, kiwi, and loonie have been under strong pressure. But why are those currencies suffering and how could they perform in the near future? What does commodity-linked currencies mean? Commodity currencies are the currencies of economies that are sensitive to changes in commodity prices and usually rely on commodity exports for growth. Among the major ones, the three that fit that description are [..]

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