All Articles Tagged - AUDUSD

US Open Note – Powell’s hawkish transition unable to boost the dollar

Posted on December 1, 2021 at 2:26 pm GMT

Powell signals faster tapering Global markets were struck by Fed Chair Jerome Powell’s hawkish tone during his testimony before the Senate Banking Committee on Tuesday. Powell stated that inflation could no longer be characterized as transitory, indicating that his central bank will consider speeding up its tapering process during the upcoming FOMC meeting in December. Terminating the Quantitative Easing programme faster than planned could be interpreted as an early rate hike signal since the Fed has made clear that it [..]

Technical Analysis – AUDUSD marks yet more lower lows as bearish forces linger

Posted on December 1, 2021 at 8:44 am GMT

AUDUSD is continuing its overall descending trend, recording successive lower lows and lower highs in the four-hour chart. Moreover, the 50-period simple moving average (SMA) has crossed below the 200-period SMA, increasing fears of a sustained bearish outlook. Short-term momentum indicators are mostly supporting a negative bias as the RSI is found marginally below its 50 neutral mark and the MACD is located below zero. Encouragingly though, the MACD is positioned above its red signal line, indicating that the negative [..]

Australian Q3 GDP growth to falter but will the bears dance to the beat? – Forex News Preview

Posted on November 30, 2021 at 1:38 pm GMT

While the aussie is at the edge of a cliff, fighting hard to avoid a broad outlook deterioration versus its US counterpart, Australian GDP growth figures for the September quarter are expected to show a dull economic performance. Traders, however, may not rush to sell the aussie unless the US nonfarm payrolls report intensifies the debate for higher interest rates. Australian economy to lose pace in Q3 The Australian dollar has been in freefall during the month of November, losing [..]

US Open Note – Markets dive as new Covid variant identified

Posted on November 26, 2021 at 1:57 pm GMT

FX market is bleeding due to new variant; yen shines After the discovery of a new and possibly vaccine-resistant coronavirus variant in South Africa, Botswana, and Hong Kong, the FX market is posting strong losses and US stock futures are indicating a negative open. Flights from South Africa and other nearby countries have already been temporarily banned by Britain, which was followed by Israel and Singapore, and could lead to similar bans in other countries. The introduction of the new variant comes at a time when different European countries are coping [..]

Weekly Comment – US jobs report eyed as new virus strain haunts markets

Posted on November 26, 2021 at 1:39 pm GMT

A post-Thanksgiving selloff is spreading across the markets after the identification of a new Covid-19 variant. The news has sparked fears over new lockdowns that could force central banks to review their Quantitative Easing exit strategies should the situation deteriorate. In the coming week, the latest US employment report and Fed Chair Powell’s testimony take centre stage, together with Eurozone inflation and Australian growth figures. The Highlights: In America, Fed Chair Jerome Powell is going to testify before the Senate [..]

Week Ahead – NFP report could keep the dollar rally going

Posted on November 26, 2021 at 11:23 am GMT

It will be hard for the US dollar to escape the spotlight in the coming week as the November jobs report will likely further fuel expectations of faster Fed tapering, extending the rally. The last month of the year is expected to get off to a busy start with a slew of data on the way. Aside from the US highlights, Canada will also be reporting jobs numbers in addition to its Q3 GDP print, Australia will publish growth figures [..]

Technical Analysis – AUDUSD wipes out October’s gains; bias cautiously bearish

Posted on November 25, 2021 at 8:19 am GMT

AUDUSD has fully reversed October’s rise, with the price extending its decline marginally below the 0.7200 level and near the swing low of 0.7169 on Wednesday. The area overlaps with the broken descending trendline, which could switch roles from resistance to support in order to boost the pair up to the ascending trendline and the red Tenkan-sen, both currently around 0.7272. A steeper rebound could meet the 20- and 50-day simple moving averages (SMAs) near the 23.6% Fibonacci retracement of the 0.8006 – [..]

US Open Note – Dollar shines again as gold and lira prints losses

Posted on November 23, 2021 at 2:10 pm GMT

Biden’s Fed picks drives dollar up The Fed nomination decision caused some tremors in the financial markets on Monday. In the decision’s wake, futures markets have firmed up expectations for a rate hike in June, which had previously been biased towards July. Governor Brainard has been selected to replace Clarida as Vice Chair at the end of January next year. The US dollar index is extending its gains towards a fresh 16½-month high of 96.59, while dollar/yen is hovering slightly below the four-and-a-half year high of 115.15 that it posted earlier in [..]

Technical Analysis – AUDUSD bears reinforce downward trajectory

Posted on November 22, 2021 at 3:18 pm GMT

AUDUSD sellers have resurfaced and have driven the price beneath the mid-Bollinger band and towards the 0.7225 level, where the price recently rebounded. The bearish 50- and 100-period simple moving averages (SMAs) are sponsoring the downtrend in the pair from the near four-month peak of 0.7555. The short-term oscillators are confirming the rise in negative powers. The MACD, although in the negative region and above its red trigger line, looks to dive back below it, while the RSI is steering [..]

US Open Note – US dollar kicks off the week higher as hawkish talk increases

Posted on November 22, 2021 at 2:02 pm GMT

US dollar slopes upwards amid upcoming monetary tightening The dollar’s upsurge seems to be continuing this week fueled by the Fed’s Vice Chair Richard Clarida, who signaled an imminent acceleration of the tapering program that could eventually result in earlier rate hikes. In addition, the greenback has also benefited from the rebound in Treasury yields today. However, President Biden is expected to reveal his nomination for the Fed’s chair before Thanksgiving on Thursday, where a possible designation of the more ‘dovish’ Brainard might push [..]

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