All Articles Tagged - AUDUSD

Australia’s jobs figures and China CPI could support aussie – Preview

Posted on June 11, 2024 at 8:54 am GMT

Chinese CPI expected to tick up Australian employment data may take aussie higher China CPI is due on Wednesday at 1:30 GMT Australia’s jobs data will follow on Thursday at 01:30 GMT RBA may cut rates during 2024 The Reserve Bank of Australia (RBA) is still considered to be one of the most hawkish among the main world central banks, despite the fact that the weaker-than-expected GDP figures for the first quarter out of Australia diminished bets about a rate hike. In fact, investors upped their bets for [..]

Week Ahead – Fed and BoJ decide on monetary policy

Posted on June 7, 2024 at 7:08 am GMT

US CPI data and Fed to determine the dollar’s fate Will the BoJ signal that another rate hike is looming? Pound traders await UK employment and GDP numbers RBA hike bets shrink ahead of AU jobs and China CPI data Mind the dots With US inflation resuming its downtrend in April and the ISM manufacturing PMI for May disappointing, investors remained convinced that the Fed will begin lowering interest rates at some point this year. Currently, they are penciling [..]

Market Comment – Fed rate cut bets grow but dollar steadies, BoC to likely cut

Posted on June 5, 2024 at 9:01 am GMT

Soft US data continues to pile up, boosting Fed rate cut bets But dollar on steadier footing ahead of ISM services PMI Bank of Canada expected to cut rates today, loonie slips Oil slide deepens, stocks struggle for direction All eyes on ISM services PMI after soft data run After repeated setbacks, the needle finally seems to be shifting for the Fed to start cutting rates soon, with bets for a September move gaining significant traction in recent days. Last [..]

Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report

Posted on May 31, 2024 at 10:17 am GMT

ECB set to slash rates on Thursday, focus on forward guidance But will the BoC take the lead when it meets on Wednesday? US jobs report eyed on Friday as Fed unyielding on cuts OPEC+ might extend some output reductions into 2025 ECB poised to cut rates, but what’s next? The path by central banks to lower borrowing costs has been far from smooth, but it seems that the European Central Bank will be among the first to reach its [..]

Technical Analysis – AUDUSD bullish tendency in doubt

Posted on May 31, 2024 at 7:30 am GMT

AUDUSD in the green again today, above a key trendline AUD has managed to withstand the recent USD strength Momentum indicators mixed; stochastics could send a bearish signal AUDUSD is recording another green candle today as the market continues to react positively to the recent data releases from Australia and, in particular, the hotter April inflation print. Although the Fed is not expected to ease before the November Presidential elections, the RBA is seen as the most hawkish of the pack, [..]

Weekly Technical Outlook – USDJPY, EURUSD, AUDUSD

Posted on May 27, 2024 at 9:04 am GMT

US Core PCE price index may boost USDJPY to surpass 156.00 Eurozone preliminary CPI attracts traders’ attention with EURUSD standing above 1.0800 Australia monthly CPI indicator may be a breath for AUDUSD US Core PCE price index –> USDJPY Investors may turn their focus to the US core PCE price index for April on Friday, which is the Fed’s preferred measure of inflation. Following a period of stability at 2.8% y/y in March, there are indications that the core [..]

Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight

Posted on May 24, 2024 at 10:36 am GMT

Dollar traders lock gaze on core PCE index Eurozone CPIs in focus as June cut looms Tokyo CPIs may complicate BoJ’s policy plans Aussie awaits Australian CPIs and Chinese PMIs Will PCE data break the “higher for longer” mantra? The US dollar stabilized this week, recovering a small portion of the losses it posted after the CPI data revealed that US inflation resumed its downtrend in April. What may have allowed the dollar to stop bleeding were comments by [..]

Technical Analysis – AUDUSD outlook turns neutral again

Posted on May 24, 2024 at 8:22 am GMT

AUDUSD loses its gains above 0.6640 and falls into previous range area Short-term risk skewed to the downside; next support near 0.6570 US durable goods orders and more Fed speakers on the calendar Despite the exciting bull run to a four-month high of 0.6712 last week, AUDUSD could not sustain its gains above the 0.6640 threshold, diving back into its previous range area. Having closed below the support trendline from April’s lows and eased slightly beneath the ascending line from [..]

Market Comment – Fed uncertainty puts stocks on edge, dollar edges up

Posted on May 21, 2024 at 8:42 am GMT

Fed policymakers maintain caution ahead of minutes as risk appetite ebbs Commodities retreat from highs amid hawkish Fed, calm in Middle East Dollar inches higher, ether jumps 19% on spot ETF hopes Fed officials sing from same hymn sheet Expectations of two rate cuts by the Fed are in doubt again as investors pared back some of their bets following a string of hawkish commentary by Fed policymakers in the last 24 hours. Markets had priced in 50 basis points [..]

Technical Analysis – AUDUSD eases after bullish spike to 4-month high

Posted on May 16, 2024 at 7:59 am GMT

AUDUSD jumps above trading range MACD indicates more gains; but RSI heads south 20- and 50-day SMAs post bullish cross AUDUSD posted a strong bullish day on Wednesday, showing some more upside pressure today, towards a fresh four-month high, exiting from the consolidation area of 0.6390-0.6635. A rally higher until the next resistance level of 0.6730 could endorse a bullish retracement in the market. Technically, the 20- and the 50-day simple moving averages (SMAs) posted a bullish crossover suggesting more [..]

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