All Articles Tagged - AUDUSD

Australia’s jobs data in the spotlight after aussie’s selling interest – Forex News Preview

Posted on July 12, 2022 at 2:30 pm GMT

Australia’s employment report for June is scheduled to be released on Thursday at 01:30 GMT, and it is believed that this information will get substantial interest. Ahead of the data, the Australian dollar dropped to a fresh 26-month low of approximately 0.6700. It is expected that a lower unemployment rate could contribute to a bounce back of the Australian dollar above $0.6800 after interest rates were raised by 50 basis points at the last two meetings. Unemployment rate to drop to record lows In May, Australia’s seasonally adjusted [..]

Technical Analysis – AUDUSD bounces off 2-year low but bearish bias remains

Posted on July 7, 2022 at 8:07 am GMT

AUDUSD is showing some improvement after the selling interest towards the two-year low of 0.6760. The pair may reach oversold levels according to the RSI and reversed higher just before posting a lower low. While the aforementioned technical indicator continues to slow down, mirroring the market’s bearish behavior over the past month, the indicator is still moving in negative territory, flagging that a downside move could reemerge in the short term. The MACD is also holding below its red signal line, which supports [..]

Daily Market Comment – Dollar shoots higher, euro sinks as recession fears return, stocks reverse gains

Posted on July 5, 2022 at 9:46 am GMT

Dollar surges to fresh two-decade high as euro crumbles on recession jitters Aussie plunges too after RBA rate decision, stock rebound falters But some optimism as Biden mulls easing Chinese import duties, Asian PMIs jump Risk appetite falters as spike in natural gas prices dents optimism Recession worries took a bit of a backseat at the start of July as the selloff paused for breath, but the panic crept back in on Tuesday as a fresh surge in natural gas [..]

RBA to roll out another rate hike, can the aussie rally? – Forex News Preview

Posted on July 4, 2022 at 1:53 pm GMT

The Reserve Bank of Australia is expected to raise interest rates by another 50 basis points when it concludes its meeting at 04:30 GMT Tuesday. Markets assign an 80% probability for such an action, so the aussie could enjoy some upside if the central bank executes. That said, any relief rally is unlikely to last long in an environment dominated by recession worries and cooling commodity prices. Chugging along The Australian economy is in pretty good shape. Unemployment is at [..]

Technical Analysis – AUDUSD shows bullish signals ahead of RBA rate decision

Posted on July 4, 2022 at 12:15 pm GMT

AUDUSD switched to a bullish mode after stepping again on the bottom line of the 2021 bearish channel at 0.6765 last Friday. The pair has almost recouped Friday’s loss ahead of the RBA rate decision due on Tuesday at 04:30 GMT, but the 50-period simple moving average (SMA) on the four-hour chart, which has been a key constraining zone since the start of June, is still overhead at 0.6890. Note that the 23.6% Fibonacci retracement of the 0.7282 – 0.6763 downleg is [..]

Daily Market Comment – Dollar softer after spike as Fed rate hike bets recede further

Posted on July 4, 2022 at 9:04 am GMT

Markets steadier despite recession signs as Fed tightening bets scaled back Dollar edges down while lower yields shore up Wall Street Aussie leads the gainers ahead of expected RBA rate hike A fragile calm amid recession red flags Trading got off to a relatively calmer start on Monday, with the US dollar backing away from more than two-week highs and global equities moving higher on the back of Wall Street’s gains on Friday. European government debt was under slight pressure [..]

Week Ahead – RBA to hike again but spotlight on NFP amid recession angst

Posted on July 1, 2022 at 12:42 pm GMT

Worries about a looming recession are dragging stock markets lower again. There’s a raft of data on the way that could lessen or heighten those concerns, most notably, the latest jobs report in the United States. But even if there is some possibility of positive relief from next week’s releases, central banks pose a downside risk to sentiment. The minutes of the Federal Reserve’s and European Central Bank’s policy meetings will likely reiterate their hawkish stance, while the Reserve Bank [..]

Technical Analysis – AUDUSD on the verge of a downtrend resumption

Posted on June 30, 2022 at 7:33 am GMT

AUDUSD has completely reversed its mid-June bullish move to trade at the bottom of its broad downtrend and marginally above the familiar support zone of 0.6850. The falling simple moving averages (SMAs) are signaling a continuation of the long-term negative trend after a short period of consolidation, though the momentum indicators are rather directionless, with the RSI moving sideways below its 50 neutral mark and the MACD stabilizing its decline slightly below its red signal line. In the event the [..]

Technical Analysis – AUDUSD visits new 1-week high in ascending channel

Posted on June 28, 2022 at 8:40 am GMT

AUDUSD is printing a new one-week high near 0.6964 but is failing to post a four-hour session above the 23.6% Fibonacci retracement level of the down leg from 0.7280 to 0.6850 at 0.6950. The pair is developing within an upwardly sloping channel in the short-term timeframe after the bounce off 0.6895. In case the pair changes its short-term direction to the upside, the bulls will probably challenge the previous top at 0.6995, penetrating the channel upwards. Further up, the area around the [..]

Daily Market Comment – Powell does little to ease recession concerns but selloff eases

Posted on June 23, 2022 at 9:14 am GMT

Powell talks inflation and recession but Wall Street holds its nerve Flash PMIs underscore recession risks, euro and pound slip Oil extends losses as outlook weighs, investors question supply tightness Powell sticks to the script, mentions the ‘R’ word Fed Chair Jerome Powell largely stuck to familiar language in his semi-annual testimony before the Senate Banking Committee on Wednesday, repeating his message that the Fed is “strongly committed” to bringing inflation down. Most market participants expect the Fed to hike [..]

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