All Articles Tagged - AUDUSD

Daily Market Comment – Stocks crumble after dead-cat bounce but dollar unmoved

Posted on May 19, 2022 at 9:33 am GMT

S&P 500 plunges the most in two years as inflation reality for earnings sets in But follow-up panic in global equities today somewhat ‘contained’ FX and bond markets also calm as dollar steady US retail giants crash as inflation bites Sellers returned to Wall Street on Wednesday as a big drop in profits by America’s retail behemoths raised the spectre of diminishing margins, in what could only be the start of high inflation eating into corporate earnings. Target was the [..]

Technical Analysis – AUDUSD bears take a breather after almost 2-year low

Posted on May 19, 2022 at 6:47 am GMT

AUDUSD could not find enough buyers to overcome the 0.7050 resistance level, with the spotlight remaining to the downside as the steep negative bias is still holding. Encouragingly, however, the RSI and the MACD continue to hold above their recent lows, while the latter has also managed to crawl back above its red signal line, providing some optimism that the bulls may not give up the battle yet. The 0.7050 number, which overlaps with the 20-day simple moving average (SMA), [..]

Daily Market Comment – Wall Street rallies despite Powell’s inflation resolve

Posted on May 18, 2022 at 9:33 am GMT

Rebound in equities gathers steam even as Powell pledges to keep raising rates Jump in UK inflation fails to sustain pound’s bounce back as dollar strengthens But sentiment still overall fragile as China and inflation worries persist US data shores up stocks as Powell gets tough An upbeat set of economic pointers in the United States boosted sentiment on Wall Street on Tuesday, suggesting that financial conditions have yet to substantially tighten following the start of the Fed’s normalization process. [..]

Aussie fires up ahead of jobs data and Australian federal election – Forex News Preview

Posted on May 17, 2022 at 4:21 pm GMT

The Australian dollar is in the midst of a rebound after last week plumbing almost two-year lows, but the path higher could get trickier as employment data is incoming and a federal election is days away. As the Reserve Bank of Australia embarks on its rate hike cycle, wage figures for the first quarter will be watched on Wednesday along with the April jobs report on Thursday, both due at 01:30 GMT. But political risks are on investors’ radar too [..]

Technical Analysis – AUDUSD bounces from 2-year low as positive momentum strengthens

Posted on May 17, 2022 at 9:05 am GMT

AUDUSD has been marching higher in the last few four-hour sessions, currently trading above its upper Bollinger band after it managed to find its feet at the two-year low of 0.6828 However, this recent rebound is not enough to erase its long-term downtrend. The momentum indicators suggest that bullish forces have gained the upper hand. The MACD histogram is above both zero and its red signal line, while the RSI is sloping upwards beyond its 50-neutral threshold. Should buying pressure [..]

US Open Note – Dollar cools off, euro turns up and gold back to $1,800

Posted on May 16, 2022 at 12:53 pm GMT

Chinese data drives dollar higher In the wake of disappointing Chinese economic statistics, which sent the British pound and the Australian dollar down, the US dollar held onto its two-decade high earlier in the day. The surge in the dollar has been fuelled by China’s long-term economic lockdowns, which have contributed together with other uncertainties to an almost 10% rise in the dollar index since the beginning of 2022. In April, China’s retail and industrial activity declined substantially due to widespread Covid-19 lockdowns, which kept workers [..]

Daily Market Comment – China worries hit sentiment, equities wobble, dollar firms

Posted on May 16, 2022 at 9:30 am GMT

Markets get off to a shaky start after poor Chinese data as stocks slip But lockdown easing in Shanghai provides some relief Dollar mostly higher, euro edges up as hawkish noises from ECB continue Recession fears heightened after slump in China activity Fresh jitters about recessionary risks dented sentiment on Monday, weighing on stocks, oil and risky currencies, following some disappointing data out of China that greeted investors at the start of the week’s trading. Industrial production in the world’s [..]

Week Ahead – Data avalanche to keep spotlight on rate hike expectations

Posted on May 13, 2022 at 1:32 pm GMT

It’s going to be a full-on week for economic indicators with a barrage of data due that should keep the guessing game going on how much central banks will tighten this year. Australia and the UK report jobs numbers, the latter will also release CPI readings along with Canada and Japan. Retail sales will be watched in the UK and US, as well as in China, while the Q1 GDP estimate will be important in Japan. China slowdown fears will [..]

Technical Analysis – AUDJPY rebounds off cloud’s floor, downside risks linger

Posted on May 13, 2022 at 1:31 pm GMT

AUDJPY has corrected to the 88.00 handle, which is the 50.0% Fibonacci retracement of the 12-week rally from 80.35 until the 95.73 peak. Despite the price failing to snowball below the support barrier formed by the 50.0% Fibo at 88.00 and the 87.20 January 2018 inside swing low, the bearish tone has yet to be fully offset. On that note, the simple moving averages (SMAs) continue to endorse the bullish picture in the pair. Contrary to this, the Ichimoku lines [..]

China’s data may cause more drama next week – Forex News Preview

Posted on May 13, 2022 at 12:28 pm GMT

Chinese data may kick off more drama in global markets during the Asian session on Monday at 03:00 GMT as urban investment, industrial output, retail sales, and new yuan loans are expected to falter for the second consecutive month, exacerbating fears of economic stagnation in the second quarter. Such news could further batter stocks and currencies such as the Chinese-sensitive Australian dollar, which are already facing their longest losing streak since 2008. Growth fears intensify Growth jitters resurfaced at full swing [..]

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