All Articles Tagged - AUDUSD

Market Comment – BoJ hikes but Fed could make a dovish tilt

Posted on July 31, 2024 at 8:20 am GMT

BoJ announces rate hike and bond tapering Focus turns to US data and the Fed Australian CPI fails to record a significant downside surprise Gold and oil jump higher due to Middle East developments BoJ hikes rates and announces bond tapering The Bank of Japan confirmed market expectations and announced a 15bps rate hike earlier today. This is the second tightening move after the March 10bps hike. Citing stronger services inflation, a positive annual change in import prices, solid wage [..]

Technical Analysis – AUDUSD bounces off in trading range

Posted on July 30, 2024 at 6:26 am GMT

AUDUSD loses 4% from 0.6797 Prices currently recovers somewhat above 20-period SMA Stochastics enter overbought region AUDUSD has been moving sideways since July 25, following a decline below the 23.6% Fibonacci retracement level of the down leg from 0.6797 to 0.6512 at 0.6580 in the 4-hour chart. The pair has lost more than 4% over the last two weeks; however, the technical oscillators are indicating an upside move. The stochastic is heading towards the overbought area, while the RSI is [..]

Week Ahead – BoJ, Fed and BoE meetings: a hike, a hold and a cut?

Posted on July 26, 2024 at 12:07 pm GMT

A trio of central bank decisions coming up from the BoJ, Fed and BoE One might hike, one might stand pat and the other cut rates ECB to also be in focus as Eurozone flash GDP and CPI data are due Week will culminate with crucial US jobs report BoJ expected to taper; will it hike too? The Bank of Japan has barely left the headlines lately. Whether it’s speculation about rate hikes, the constant hints about bond tapering or [..]

Market Comment – Dollar trims losses against yen, core PCE on tap

Posted on July 26, 2024 at 8:23 am GMT

Dollar/yen rebounds after US GDP data Core PCE the next test for Fed rate cut bets Yen rally losing steam ahead of BoJ next week Wall Street extends slide, more earnings awaited GDP data adds fuel to dollar’s engines The dollar traded higher against most of its major counterparts on Thursday, trimming losses against the yen and extending its rally versus the wounded aussie, kiwi and Loonie. What may have allowed the greenback to recover some of the recently lost [..]

Market Comment – Stock market correction picks up speed

Posted on July 25, 2024 at 7:50 am GMT

Fed expectations and US election affect sentiment Euro remains on the back foot against the dollar PBoC announces a surprise rate cut Gold suffers, aussie and kiwi losses pile up Stocks’ weakness intensifies Stocks are under severe pressure as the main US equity indices recorded yesterday their worst daily performance since late-2022. Considering the fact that yesterday’s US PMI surveys were mixed, and therefore not the trigger for this move, the cause of the continued weakness in equities runs deep. [..]

Market Comment – Dollar remains strong ahead of key data, yen surges

Posted on July 24, 2024 at 8:22 am GMT

Dollar keeps marching north, PMIs on tap Yen extends rally as traders unwind carry trades Aussi and kiwi slide on China concerns, loonie awaits BoC Stocks trade in the red, tech earnings in the spotlight Traders continue to buy the US dollar The dollar traded higher against all but one of its major peers on Tuesday and continued to do so today. The exception was the Japanese yen. With Fed fund futures suggesting little change in market expectations about the [..]

Technical Analysis – AUDUSD tumbles below key 0.6690 zone

Posted on July 23, 2024 at 8:24 am GMT

AUDUSD falls back within a range RSI and MACD support further declines Dip below 0.6575 could carry larger bearish implications Rebound above 0.6690 may invite more bulls AUDUSD has been trading in a free-fall mode since July 15, while yesterday, the bears cleared the key barrier of 0.6690. Now, the pair is back within the sideways range that contained most of the price action between May 3 and July 3. As long as the pair remains within that range, the [..]

Technical Analysis – AUDUSD plunges from 6-month high

Posted on July 22, 2024 at 12:28 pm GMT

AUDUSD breaks ascending trend line to the downside Momentum oscillators keep bearish bias AUDUSD is posting its sixth consecutive red day following the climb towards the six-month high of 0.6797. The pair penetrated the short-term ascending trend line to the downside and slipped beneath the 20- and 50-day simple moving averages (SMAs), suggesting a reversal of the trend. The technical oscillators are also heading south, with the stochastics holding in oversold territory and the RSI diving beneath the neutral threshold of 50. Further [..]

A September Fed rate cut could lead to an easing spree during end-2024 – Special Report

Posted on July 12, 2024 at 10:45 am GMT

Market prices in at least two rate cuts from Fed ECB, BoE expected to follow suit despite divergent economic conditions SNB and BoC could ease further; RBNZ possibly close to a summer rate cut BoJ and RBA could surprise with rate hikes during 2024 We are halfway into 2024 and the countdown for this year’s key event, the US presidential election, has already started. With geopolitics taking a backseat lately, despite both the Ukrainian-Russian and Israeli-Hamas conflicts remaining unresolved, political risk is [..]

Technical Analysis – AUDUSD rallies to meet 6-month high near 0.6800

Posted on July 12, 2024 at 10:12 am GMT

AUDUSD creates higher highs and higher lows Momentum oscillators show mixed signs AUDUSD skyrocketed to another fresh six-month high of 0.6797 on Thursday, creating the ninth consecutive green day. Since mid-April, the pair has been developing an upward trend. However, the technical oscillators show mixed signs. The stochastic is heading south, but the RSI is crossing the 70 level to the upside. A move higher could pave the way for a test of the 0.6870 resistance level, taken from the [..]

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