All Articles Tagged - AUDUSD

Daily Market Comment – US business activity shrinks, BoC decision up next

Posted on January 25, 2023 at 9:15 am GMT

US continues to contract while Eurozone returns to growth Aussie gains on accelerating inflation BoC expected to deliver one last hike Wall Street ends mixed, awaits more earnings results PMIs confirm divergence between ECB and Fed interest rate bets Although euro traders were not overly impressed by yesterday’s preliminary PMI data suggesting that the Eurozone returned to growth in January, the contrast to the US numbers that came out later in the day may have allowed euro/dollar to stay in [..]

Technical Analysis – AUDUSD rebounds from key support zone

Posted on January 24, 2023 at 1:50 pm GMT

AUDUSD traded higher on Friday and Monday, after it hit support near the key area of 0.6890 on Thursday. Today, the pair is trading near its opening levels, but in the bigger picture, it remains above the uptrend line drawn from the low of October 13, as well as above all the plotted moving averages. This keeps the prevailing uptrend intact. The RSI and the MACD are detecting upside momentum. They are both lying above their equilibrium barriers, with the latter running above its [..]

Daily Market Comment – Wall Street jumps ahead of key earnings and data

Posted on January 24, 2023 at 10:32 am GMT

Tech stocks surge as S&P 500 closes above 4,000, all eyes on Microsoft Euro eases off highs amid signs of ECB divisions, mixed PMIs also weigh Dollar struggles as Fed bets trimmed, gold hits fresh highs Wall Street bulls fire up ahead of tech earnings Growing hopes that the Fed will soon call time on its aggressive rate-hiking campaign continued to feed optimism in equity markets, pushing the S&P 500 above the 4,000 level on Monday. US stocks staged a [..]

Could the Australian CPI further boost the aussie? – Forex News Preview

Posted on January 23, 2023 at 2:26 pm GMT

Amidst a quiet period on the Asian front due to the week-long Spring Festival in China, we get a handful of Australian data this week. Inflation data continues to attract the market’s attention, despite the recent drop in energy prices, amidst mixed expectations for a recession during 2023 at the biggest country of the Australian continent. Another stronger CPI print? With the first RBA meeting for 2023 held in two weeks, the first batch of inflation data will be released [..]

Daily Market Comment – Fed signals downshift, lifting Wall Street, but dollar sags

Posted on January 23, 2023 at 10:47 am GMT

Fed officials warm up to 25-bps rate hikes, cheering equity markets But dollar takes a hit, stands firm only against sinking yen Euro powers on as ECB hawk puts foot down, flash PMIs eyed Fed enters blackout with a nod to slower hikes Trading got off to a quieter start on Monday, as China and other major markets in Asia are closed for the Lunar New Year celebrations, and Friday’s risk rally lost some steam, but the positive sentiment continued [..]

Week Ahead – BoC may hike one final time; Will flash PMIs spread gloom or optimism?

Posted on January 20, 2023 at 10:20 am GMT

As 2023 gets underway, so do the central bank meetings and the Bank of Canada will be the next after the BoJ to announce its first policy decision of the year. Meanwhile, investors will be nervously awaiting the first PMI readings of 2023 next week as they juggle to reach a consensus about the recessionary risks. In the United States, there will additionally be the advance GDP estimates for the final quarter of 2022, as well as PCE inflation data. [..]

Technical Analysis – AUDUSD tumbles from 5-month peak

Posted on January 19, 2023 at 2:50 pm GMT

AUDUSD has been retreating after finding resistance at a new five-month high of 0.7060. According to the momentum indicators, the bullish forces are weakening. The RSI is pointing downwards in the positive region, and the MACD is moving lower below its trigger line in the bullish region. In the event of a continuation of selling pressures, the pair may test the bullish crossover within the 20- and the 200-day simple moving averages (SMAs) at 0.6820 ahead of the 50-day SMA [..]

Technical Analysis – AUDUSD retraces lower as advance falters around 5-month peak

Posted on January 19, 2023 at 8:32 am GMT

AUDUSD has been staging an impressive rebound after finding its feet at the 32-month low of 0.6169 in mid-October. Nevertheless, the pair has experienced a moderate pullback in the near term, with its latest advance getting rejected at a fresh five-month high of 0.7062. The momentum indicators currently suggest that bullish forces are waning but retain control. Specifically, the MACD histogram is softening but continues to hold above both zero and its red signal line, while the RSI is pointing downwards [..]

Will the aussie get a boost from the labour market? – Forex News Preview

Posted on January 17, 2023 at 2:17 pm GMT

Australia’s employment report for August is scheduled to be released on Thursday at 01:30 GMT, and it is believed that these data will attract some interest. Ahead of the data, the Australian dollar fell near $0.6900 after a significant pullback off the five-month high around $0.7000. While the domestic economy is robust, the country’s heavy exposure to China is giving investors another reason to be bullish on the currency after China’s reopening. Stable unemployment rate is expected A solid labor market is partially responsible for the present surge in consumer confidence, robust household spending, [..]

Week Ahead – Will the Bank of Japan roll out another surprise?

Posted on January 13, 2023 at 11:09 am GMT

A volatile week awaits FX traders, featuring the first Bank of Japan decision of the year. It’s a close call whether policymakers will adjust their yield strategy once again, although even if they don’t, it’s probably only a matter of time. There’s also a deluge of data releases from the major economies. Tough decision for BoJ The Bank of Japan shocked financial markets last month when it raised the ceiling on long-term Japanese yields, a decision that turbocharged the yen. [..]

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