All Articles Tagged - AUDUSD

Market Comment – Stocks’ asthmatic reaction keeps dollar in demand

Posted on June 26, 2024 at 7:22 am GMT

US stocks edge higher amidst quiet newsflow French elections are around the corner Aussie and loonie benefit from hotter CPI reports Yen remains under pressure Dollar records small gains against the euro The US dollar is trying to find its footing as the market prepares for Thursday’s presidential debate between Trump and Biden and Friday’s PCE inflation report. Yesterday’s Fedspeak did not hold any surprises with the Fed’s Cook talking vaguely about the possibility of rate cuts at some point. [..]

Weekly Technical Outlook – EURUSD, USDCAD, AUDUSD

Posted on June 25, 2024 at 8:34 am GMT

US Core PCE index could affect EURUSD’s performance Canadian CPI expected to fall; USDCAD still falling AUDUSD may remain in range after Australian CPI US Core PCE price index –> EURUSD The main focus for traders this week will be the US core PCE price index for May, which is coming out on Friday. Also, the personal income and spending data and the final GDP figure will be released this week. The core PCE index is expected to have slid to 2.6% from 2.8% y/y. The sluggish retail sales figures hint [..]

Week Ahead – US PCE inflation the highlight of a relatively light agenda

Posted on June 21, 2024 at 7:25 am GMT

Core PCE inflation to test bets of two Fed rate cuts in 2024 Yen awaits BoJ Summary of Opinions, Tokyo CPI Canadian CPI data also enters the spotlight Will PCE data confirm Fed rate cut bets? Although the Fed’s updated dot plot pointed to only one quarter-point reduction by the end of the year, the softer-than-expected CPI numbers a few hours ahead of last week’s decision did not convince market participants about officials’ intentions. The weaker-than-expected retail sales numbers [..]

Technical Analysis – AUDUSD extends sideways movement

Posted on June 20, 2024 at 8:30 am GMT

AUDUSD trades back and forth within its range The ascending 50-day SMA acts as a strong floor Oscillators remain tilted to the bullish side AUDUSD has been trading sideways for more than a month now as the price has been unable to jump above the five-month high of 0.6713. However, the pair’s downside also seems to be capped by the upward sloping 50-day simple moving average (SMA). If buying pressures persist, the price may initially test the five-month high of 0.6713, [..]

Market Comment – Fedspeak and US retail sales could test dollar’s resilience

Posted on June 18, 2024 at 7:54 am GMT

Fedspeak could prove market-moving this week Retail sales could surprise on the downside RBA members discussed again to hike rates Dollar still in charge but aussie rallies Fed speakers to move the market again? Amidst a holiday-shortened week, Fed speakers will be out in force, and it will be interesting to see if the hawks adopt an even more aggressive rhetoric. Minneapolis Fed President Kashkari has already commented that “it’s reasonable that a rate cut could come in December” with [..]

Weekly Technical Outlook – GBPUSD, AUDUSD, USDCHF

Posted on June 17, 2024 at 12:48 pm GMT

GBPUSD holds a bearish bias ahead of UK inflation, BoE rate decision AUDUSD retains neutral outlook as all eyes turn to the RBA policy decision USDCHF sustains 0.8890 floor; Will the SNB trigger the next bull wave? BoE rate decision –> GBPUSD UK CPI inflation and the Bank of England’s rate decision could produce a new wave of volatility for GBPUSD on Wednesday and Thursday, respectively. Given the rebound in the Eurozone CPI inflation and the stickiness in the [..]

Market Comment – Euro extends losses on French election jitters

Posted on June 17, 2024 at 9:02 am GMT

Euro hits 6-week low as risk premium for French debt jumps But equities mixed as selloff eases Trio of central bank decisions eyed Euro rocked by fresh fears of a debt crisis Concerns about the real risk of a far-right government in France continue to dog the euro after they resurfaced towards the end of last week. Having shed more than 1% so far in June, the euro is struggling to hold on to the $1.07 level on Monday and [..]

RBA policy meeting may be muted; aussie remains choppy – Preview

Posted on June 17, 2024 at 8:45 am GMT

RBA interest rate expected to remain unchanged Sticky inflation and economy’s uncertainty still a concern Aussie holds in downward channel ahead of Tuesday’s decision at 04:30 GMT Australia’s uncertain economy and sustained inflation The Reserve Bank of Australia (RBA) is scheduled to announce its June policy decision early on Tuesday, likely maintaining the central bank’s agenda. The policymakers had anticipated that their responsibilities would become significantly less challenging in the current year. However, persistent inflation and ongoing economic uncertainty have made policy decision-making quite challenging for RBA officials. Australia experienced [..]

Week Ahead – RBA, SNB and BoE next to decide, CPI and PMI data also on tap

Posted on June 14, 2024 at 9:21 am GMT

It will be another central-bank-heavy week with the RBA, SNB and BoE None are expected to cut but there’s room for surprises Retail sales will be the highlight in the United States Plenty of other data also on the way, including flash PMIs and UK CPI RBA is in a pickle The Reserve Bank of Australia will keep the central bank theme going on Tuesday when it meets for its June policy decision. Like their global peers, RBA policymakers had [..]

Technical Analysis – AUDUSD holds within descending channel

Posted on June 11, 2024 at 11:54 am GMT

AUDUSD finds support at 50-day SMA Momentum oscillators head south AUDUSD has been developing within a downward sloping channel over the last month, finding strong support near the 50-day simple moving average (SMA), which overlaps with the 0.6580 support. Technically, the stochastic oscillator is suggesting more losses as it is dropping beneath the 20 level, while the MACD is standing beneath its trigger line above the zero level. Steeper decreases could drive the market until the immediate support area of [..]

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