All Articles Tagged - AUDUSD

Week Ahead – Slowdown and inflation nerves to be tested in the US, Eurozone; BoJ meets

Posted on April 22, 2022 at 11:19 am GMT

A barrage of economic indicators out of Europe and America will put the spotlight on the euro and US dollar next week. The data could further reinforce the diverging paths of monetary policy between the Federal Reserve and European Central Bank. European traders will additionally be keeping a watch on the outcome of the French presidential election, while RBA policy could come under scrutiny too as Australia publishes quarterly CPI numbers. But it is the Bank of Japan that could [..]

Daily Market Comment – Powell reignites dollar bulls, sinks Wall Street

Posted on April 22, 2022 at 9:41 am GMT

Dollar regains the upper hand after Powell makes another hawkish shift Pound plummets on cautious Bailey, euro resumes downfall too Equites get knocked back as central bankers’ inflation alert pushes yields to new highs Powell backs 50-bps rate hike, dollar likes it Fed Chair Jerome Powell stole the limelight at the IMF’s spring meetings yesterday, as he reinforced expectations that the Federal Reserve will hike rates by 50 basis points when it meets in early May. Powell admitted that the [..]

Technical Analysis – AUDUSD bullish bearing intact with bounce off 50-day SMA

Posted on April 21, 2022 at 9:09 am GMT

AUDUSD is confronting the mid-Bollinger band at 0.7466 after unearthing fresh positive traction off the rising 50-day simple moving average (SMA), which appears to have rescued the minor twelve-week uptrend that evolved from the 0.6963-0.6994 support base that stretches back to July 2020. While the 200-day SMA proposes a more neutral trajectory, the rising 50- and 100-day SMAs are endorsing the upward trend in the pair. Currently, the short-term oscillators are suggesting that recent negative momentum in the pair has [..]

Daily Market Comment – Euro perks up, fends off steadier dollar amid growing ECB rate hike talk

Posted on April 21, 2022 at 8:46 am GMT

Euro extends gains as ECB policymakers increasingly in favour of raising rates soon Dollar mixed despite higher Treasury yields; yen settles around 128 per dollar US and European stock futures edge up after Tesla earnings beat, China slips ECB rate hike chatter buoys euro The euro is gaining traction on Thursday, extending this week’s rebound to flirt with the $1.09 level, as investors ratchet up their bets that the European Central Bank is getting closer to hiking rates soon. Several [..]

Daily Market Comment – Yen pressure eases slightly, US futures slip after Netflix miss

Posted on April 20, 2022 at 9:08 am GMT

Dollar breaches 129 yen, fuelling speculation of currency intervention But pullback in yields helps yen to steady a little Wall Street jumps but rebound looks shaky as Netflix shatters earnings optimism Softer yields offer temporary respite for sliding yen The Japanese yen continued to slump on Wednesday, but its overnight losses lessened heading into the European session as government bond yields retreated slightly. The US dollar scaled a new 20-year high of 129.40, surpassing the 129 level for the first [..]

Technical Analysis – AUDUSD rises in declining tendency in the short-term

Posted on April 19, 2022 at 7:14 am GMT

AUDUSD has come under renewed selling pressure after the pull back off the 10-month high of 0.7660 at the beginning of April. Despite the descending move, the price has been heading north over the last few sessions following the bottom at 0.7344, enhancing the argument that the picture may not be entirely negative at the moment. The momentum oscillators on the four-hour chart suggest some increases may be on the cards in the short-term. The RSI is below its neutral 50 [..]

US Open Note – Stocks flicker green, higher yields feed dollar resilience

Posted on April 18, 2022 at 1:37 pm GMT

Fed underpins yields, today’s highlight: RBNZ Governor Orr The week starts off with a bunch of countries observing Easter Monday, and mixed March retail sales out of China, leaving the week’s main market drivers linked to speeches from heads of central banks, Canadian and New Zealand inflation data, and various countries’ retail sales and PMI data on Friday. Elevated price pressures and a hawkish Fed are adding fuel to the US yield fire. Markets are pricing in an additional 211.5 [..]

Technical Analysis – AUDUSD uptrend defended by 200 MA, but downside risks linger

Posted on April 15, 2022 at 1:08 pm GMT

AUDUSD is a tad north of the 0.7400 mark, which has recently, along with the 200-period simple moving average (SMA), managed to deter the correction in the pair from the 9½-month high of 0.7661, from snowballing below the 0.7375 trough. The positive slope of the 200-period SMA is endorsing the positive picture, while the rolling over of the 50- and 100-period SMAs, is signalling that downside pressures are merely taking a temporary step back. For now, the short-term oscillators are [..]

Week Ahead – European PMIs, French debate, and Chinese GDP on tap

Posted on April 15, 2022 at 10:58 am GMT

There are no central bank meetings in the coming week but there’s a ton of data releases to spice things up. The show will kick off with China’s GDP numbers, which will reveal the initial damage from the lockdowns. Meanwhile in Europe, traders will scan the latest PMI surveys to estimate the probability of recession, while keeping one eye on the TV debate between Macron and Le Pen. Chinese slowdown China’s economic growth likely suffered a substantial hit from the [..]

Daily Market Comment – Euro gets knocked down by ECB, dollar edges up in thin holiday trade

Posted on April 15, 2022 at 9:14 am GMT

ECB leaves forward guidance unchanged, euro gets hung out to dry Stocks struggle, dollar resumes uptrend amid lack of fresh drivers during Easter weekend Oil heads higher on reports EU will phase out Russian imports Euro sinks to 2-year low after ECB inaction The European Central Bank kept worries of burgeoning inflation aside on Thursday as it reiterated its previous forward guidance that asset purchases will end at some point in the third quarter, while providing no precise timeline of [..]

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