All Articles Tagged - AUDUSD

Asian markets bounce back; eyes on local data, not just US CPI – Preview

Posted on August 13, 2024 at 2:02 pm GMT

Asian equities extend rebound ahead of key data Japanese GDP, Aussie jobs and Chinese indicators on the agenda Any upsets could roil the fragile sentiment A cautious rebound for stocks Stock markets in Asia have not been immune to the global selloff in August amid the unwinding of the yen carry trade and renewed fears about a US recession. Japanese stocks, in particular, were hit hard by the sudden surge in the yen; the Nikkei 225 Index tumbled by almost [..]

Week Ahead – US CPI to test market nerves, RBNZ might cut rates

Posted on August 9, 2024 at 10:38 am GMT

Market turmoil has eased, but will US CPI stir things up again? Crucial week for sterling as UK CPI, GDP and retail sales on the way The RBNZ is edging closer to a rate cut, but will it be next week? Japanese GDP, Australian jobs and Chinese data eyed too US economy worries take front and centre The panic about the US economy being on the verge of a recession has mostly eased but markets remain jittery. Investors see a [..]

Market Comment – Sentiment improves after drop in US jobless claims

Posted on August 9, 2024 at 8:27 am GMT

US dollar gains as data ease further recession concerns Aussie benefits the most, also helped by RBA’s Bullock Wall Street rebounds, oil and gold gain as well Jobless claims drop the most in nearly a year The US dollar ended Thursday mixed against the other major currencies, even though it received a boost from the better-than-expected initial jobless claims for last week. The greenback held onto gains against the safe-havens yen and franc, while it surrendered to the risk [..]

Technical Analysis – AUDUSD drifts higher, sentiment remains fragile

Posted on August 8, 2024 at 2:19 pm GMT

AUDUSD in the green today It remains around 3.5% below its recent peak Momentum indicators are now less bearish AUDUSD is trading higher today as the market is trying to find its footing after the recent rout. AUDUSD is still around 3.5% below its recent high with the relatively hawkish RBA stance, compared to the ballooning Fed rate cut expectations, probably helping AUDUSD recover a bit after trading at the lowest level since November 2023. Next week’s US CPI report [..]

Technical Analysis – AUDUSD stays in one piece after flash crash

Posted on August 6, 2024 at 8:30 am GMT

AUDUSD bounces back from its lowest point in nine months Short-term risk skewed to the upside; close above 0.6500 needed RBA maintains steady policy; pushes back rate cut timing AUDUSD encountered a significant drop to a nine-month low of 0.6346 on Monday, marking its worst daily performance since the pandemic, but it quickly found fresh buying near the trendline, which connects the 2022 and 2023 lows, and managed to recover most of its losses by the end of the day. [..]

Weekly Technical Outlook– USDJPY, USDCAD, AUDUSD

Posted on August 5, 2024 at 12:25 pm GMT

USDJPY gives up its 2024 rally on recession fears; ISM services PMI next in focus AUDUSD sinks to 8-month low. Will the RBA policy decision come to the rescue? USDCAD loses momentum after 22-month high; Canadian employment due on Friday ISM non-manufacturing PMI –> USDJPY Market expectations shifted from a soft landing to a hard landing after a disappointing ISM manufacturing survey coupled with poor jobs figures last week made investors think that the Fed has kept interest rates [..]

Market Comment – Dollar plummets as US jobs data spread panic

Posted on August 5, 2024 at 8:10 am GMT

Disappointing US jobs data push dollar off the cliff Yen extends rally as fears over US economy mount Stocks drop, VIX rallies to levels seen more than a year ago NFP report disappoints, rate cut bets surge The US dollar plunged on Friday after the US employment report for July came in weaker than expected, raising fears about the performance of the US economy and prompting market participants to start believing that the Fed may need to cut interest rates [..]

Week Ahead – RBA and BoJ Summary of Opinions take center stage

Posted on August 2, 2024 at 11:38 am GMT

RBA decides on policy as hike bets disappear BoJ Summary of Opinions awaited for more hike hints After Fed, dollar turns to ISM non-mfg PMI New Zealand and Canada jobs data also on tap Will the RBA turn dovish? Following the BoJ, the Fed, and the BoE decisions this week, the central bank torch will next be passed to the RBA, which announces its decision on Tuesday. At its latest meeting, this Bank kept its benchmark rate unchanged at [..]

Technical Analysis – AUDUSD declines to fresh 2-month low

Posted on August 2, 2024 at 7:49 am GMT

AUDUSD extends retreat to its lowest since May 1 Oscillators are flagging oversold conditions AUDUSD has been in a steady retreat since July 11, violating both its 50- and 200-day simple moving averages (SMAs). Although the pair posted a fresh two-month low on Wednesday, the risk of a bounce to the upside has increased given that the momentum indicators are warning of an overdone decline. Should bearish pressures persist, the bears may attack the recent two-month bottom of 0.6479. A violation of [..]

RBA meets as rate hike odds fade, aussie sinks after CPI data – Preview

Posted on August 1, 2024 at 3:03 pm GMT

RBA set to keep rates on hold despite elevated inflation But latest CPI report raises hope that price pressures are easing A dovish pivot on Tuesday (07:30 GMT) could further devastate the aussie Lack of progress The Reserve Bank of Australia has barely made any progress on getting inflation down in 2024, with the monthly CPI gauge standing higher in June than where it was in December. The last two policy decisions in May and June were a close call [..]

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