All Articles Tagged - AUDUSD

Daily Market Comment – Nasdaq enters correction territory

Posted on January 20, 2022 at 10:06 am GMT

Wall Street ends lower again but China rate cut calms nerves US yields pull back, knocking the wind out of the dollar Gold hits two-month high, ECB minutes and Netflix earnings eyed Mood improves, slightly It has been a stormy week for global financial markets, with riskier assets such as equities taking a beating at the hands of rising interest rates. The Nasdaq closed another session sharply lower to officially enter correction territory, which is defined as a drawdown of [..]

Technical Analysis – AUDUSD rises in ascending channel; bullish bias

Posted on January 20, 2022 at 8:09 am GMT

AUDUSD is moving within the Ichimoku cloud and the short-term simple moving averages (SMAs), while in the bigger picture the price has been in an ascending channel since December 2021. The MACD oscillator is flattening around its trigger and zero lines, unable to improve the bullish bias. However, the RSI indicator is sloping upwards in the positive region. If the price gains more ground, immediate resistance could come from the 0.7310 barrier and the 0.7367 resistance. Above these obstacles, the [..]

Aussie retreats despite forecast for lower unemployment rate – Forex News Preview

Posted on January 18, 2022 at 1:51 pm GMT

The aussie has been in a declining move over the last couple of sessions ahead of the employment report for December, due out on Thursday at 00:30 GMT, likely to attract attention. Market expectations are calling for the Reserve Bank of Australia to raise interest rates four times this year. As its major trading partner, China has the potential to negatively impact Australia’s economy, which isn’t very robust. Unemployment rate to fall further As a result of the lifting of Covid-19 lockdowns, [..]

Technical Analysis – AUDUSD’s bearing in question as gradual ascent struggles

Posted on January 17, 2022 at 2:32 pm GMT

AUDUSD turns somewhat neutral as the pair’s improvements have failed to take flight for around one-and-a-half-months now. Currently, the simple moving averages (SMAs) are not implying a specific trend is in place, while the Ichimoku lines are also indicating weak and unclear directional forces in the pair. The short-term oscillators are reflecting conflicting signals in momentum, indicating the indecision in the pair to develop a decisive trend. The MACD is below its red trigger line and has glided beneath the [..]

Daily Market Comment – Fed bets boost dollar, China cuts rates

Posted on January 17, 2022 at 10:03 am GMT

Dollar stabilizes as markets price in faster Fed rate hikes In contrast, China cuts interest rates to power up growth US markets will stay closed today, focus turns to BoJ meeting Dollar unscathed by retail sales miss Markets are growing increasingly confident that the Fed will raise interest rates four times this year to bring inflation under control. Even though the latest edition of US retail sales on Friday disappointed in a massive way, taking an axe to GDP growth [..]

Week Ahead – Bank of Japan meets, China releases GDP

Posted on January 14, 2022 at 12:52 pm GMT

The Bank of Japan will be in the spotlight next week. It will likely reaffirm that rates won’t rise for a long time, leaving the yen at the mercy of foreign central bank moves and risk appetite. The People’s Bank of China will also meet and could loosen policy to empower economic growth, although its actions are usually more important for stock markets rather than FX. BoJ – A hint of optimism The Japanese economy is turning a corner. A [..]

Daily Market Comment – Stocks falter again as hawkish Fed frightens markets, dollar rout deepens

Posted on January 14, 2022 at 10:42 am GMT

Wall Street headed for weekly losses as Fed and inflation worries weigh Fed officials set sights on March for liftoff, hawkish soundbites unnerve investors But dollar still sliding as terminal rate not seen going up much Fed rate hike talk takes toll on the markets Equity markets were back in the red on Friday after Wall Street’s rebound faltered on Thursday amid increasingly hawkish language from the Fed, a troubling inflation outlook and no let-up in the spread of Omicron. [..]

Chinese GDP and retail sales data point towards economic slowdown – Forex Preview

Posted on January 14, 2022 at 10:22 am GMT

Chinese economic growth numbers for the last quarter of 2021 will hit the markets at 02:00 GMT on Monday. The world’s second-largest economy is likely to post its weakest growth in more than a year as defaults in the property sector, regulatory crackdowns and Omicron-related jitters seem to have disrupted the economic recovery. Moreover, retail sales and industrial production data for December will be out on the same day, providing additional insights into the impact of Omicron on the overall economy. Chinese economy loses steam amid [..]

Daily Market Comment – Dollar skids despite US inflation jump, euro cracks above range

Posted on January 13, 2022 at 10:39 am GMT

US dollar is pummelled as strong CPI fails to galvanize the bulls More Fed officials flag March rate hike but yields go nowhere Wall Street extends rebound but earnings may hold the key to more gains US inflation hits 7%, markets take it in their stride It was another disconcerting inflation report out of the United States on Wednesday as headline CPI edged up to 7.0% in December – the highest since 1982. But the figure was in line with [..]

Technical Analysis – AUDUSD resumes bullish bias at 2-month high

Posted on January 13, 2022 at 8:24 am GMT

AUDUSD opened Thursday’s session on a positive note, aiming to repeat Thursday’s rally, which cracked the ceiling around 0.7274. The price has already recovered half of November’s sell-off to trade at a 2-month high, with the momentum indicators hinting at additional gains as the RSI has bounced back above its 50 neutral level to mark fresh highs. Likewise, the MACD jumped to the highest level since November, while the rising Stochastics are still some distance below their 80 overbought number, [..]

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