All Articles Tagged - AUDUSD

China’s inflation goes against what is happening around the world – Forex News Preview

Posted on September 6, 2022 at 11:35 am GMT

A worldwide slowdown, particularly in China, is alleviating inflationary pressures, particularly for essential imports and commodities. The Chinese CPI data will come out on Friday at 01:30 GMT, giving some signs of the aussie’s next directional movement as it is still in a negative tendency after failed attempts to move higher. The optimism that the Chinese economy will be the world’s largest by the end of the decade has been dimmed by slowing growth. China is a major factor in the reduction of foreign [..]

Daily Market Comment – Pound gains in aftermath of UK PM election; euro rebounds as well

Posted on September 6, 2022 at 8:10 am GMT

Sterling wakes up as Truss’s plans could fuel inflation Euro rebounds as well after hitting a two-decade low RBA lifts rates by 50bps and hints neutrality Asian shares cheer China’s pledge for more action Pound outperforms after new UK Prime Minister elected The US dollar took a break at some point yesterday, with the dollar index pulling back after hitting a new two-decade high of 110.23. The currency that benefited the most from the dollar’s breather was the British pound. [..]

Will another 50bps hike by the RBA lift the aussie? – Forex News Preview

Posted on September 2, 2022 at 1:39 pm GMT

With the Australian economy performing relatively well compared to others and inflation rising to its highest in 21 years, the Reserve Bank of Australia (RBA) is all but certain to hike interest rates when it meets on Tuesday, with the decision scheduled to be announced at 04:30 GMT. That said, the big questions on investors’ minds are by how much will officials raise rates, and what could that mean for the Australian dollar. RBA signals willingness to hike more At [..]

Week Ahead – ECB decision highlights central bank trifecta

Posted on September 2, 2022 at 11:21 am GMT

An action-packed week lies ahead, featuring central bank meetings in the Eurozone, Canada, and Australia, an output decision from the OPEC cartel, and the selection of the next UK prime minister. The ECB will likely steal the show, as policymakers seem prepared to roll out the big guns to defend the sinking euro. Euro squeeze? There has been a striking change in tone from the European Central Bank lately. Several officials have stressed the need to raise interest rates forcefully, [..]

Technical Analysis – AUDUSD bounces off 6-week low below 0.6800

Posted on September 2, 2022 at 10:16 am GMT

AUDUSD rebounded off the six-week low of 0.6790 after it broken the symmetrical triangle to the downside. The market’s technical oscillators are contradicting each other as the RSI is rising in the negative territory, while the MACD is strengthening its negative momentum below its trigger and zero lines. Also, the 20- and 50-day simple moving averages (SMAs) are in the process of posting a bearish crossover if the price continues its downside move. In the event that weakness persists below yesterday’s low, the 26-month low around [..]

Technical Analysis – AUDUSD dives near fresh 6-week low

Posted on September 1, 2022 at 6:39 am GMT

AUDUSD is plunging towards a new six-week low at 0.6790, penetrating the symmetrical triangle to the downside. This break is a sign of more losses in the market, confirmed by the technical indicators as well. The MACD is falling below its trigger and zero lines, while the RSI is sloping downwards in the negative region. Should weakness extend below the intraday’s low, support to downside movement could initially be detected near the 26-month trough of 0.6680. Clearing that zone, [..]

Technical Analysis – AUDUSD edges higher within symmetrical triangle; neutral in medium-term

Posted on August 30, 2022 at 12:30 pm GMT

AUDUSD is finding strong support near the short-term ascending trend line and the 0.6855 barrier, after it spiked towards a new six-week low at 0.6840. The RSI indicator is gaining some momentum, mirroring the market’s bullish behavior over the past couple of days, flagging that a recovery could reemerge in the short-term. The MACD is also moving with weak momentum near its trigger and zero lines. In case the pair changes its short-term direction to the upside, the bulls will probably challenge [..]

China PMIs eyed as Beijing rolls out economic stimulus – Forex News Preview

Posted on August 29, 2022 at 2:14 pm GMT

The Chinese August PMIs will be the main event for the Australian dollar this week. On Wednesday, the official PMI for manufacturing will be issued, and on Thursday, the Caixin PMI will be released as well. In recent days, risk-sensitive currencies and other risk assets have taken a hit due to worries over China’s slowing economy. China steps up economic stimulus China has increased its economic stimulus measures by providing an additional 1 trillion yuan ($146 billion) in funding, the majority of [..]

Week ahead – NFP report, Eurozone inflation under the microscope as markets wobble

Posted on August 26, 2022 at 9:43 am GMT

The US nonfarm payrolls report will take centre stage next week as speculation about the size of the Fed’s next rate hike goes into overdrive. Investors will also be keeping a close eye on the latest inflation readings in the euro area ahead of the September rate decision amid growing gloom about the bloc’s economic outlook. PMI indicators out of China and as well as quarterly data from Australia and Canada will be important too in helping to gauge the [..]

Technical Analysis – AUDUSD picks up steam but more needs to be done

Posted on August 25, 2022 at 7:13 am GMT

AUDUSD started the day with strong positive momentum, quickly recouping yesterday’s mild losses to peak marginally above the 20-day simple moving average (SMA) and the 0.6962 level, which previously was unbreakable. That is also where the 38.2% Fibonacci retracement of the latest upleg resides. The momentum indicators cannot guarantee that the bullish correction will continue. Despite the sharp rebound in the stochastics, the RSI has just ticked above its 50 neutral mark, while the MACD remains muted and negative below its red [..]

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