All Articles Tagged - AUDUSD

Daily Market Comment – Fed’s No. 2 hints at faster taper; dollar up but stocks stay calm

Posted on November 22, 2021 at 9:57 am GMT

Fed’s Clarida open to quicker tapering, but no panic yet in bond and equity markets Dollar eyes fresh highs as euro and pound keep bleeding; commodity dollars steadier Flash PMIs and RBNZ may spark some fireworks before Thanksgiving holiday Markets in positive spirits despite Fed and virus worries The Fed’s second in command may have just opened the door to a faster pace of tapering, but stocks nevertheless edged higher at the start of the week as there appeared to [..]

US Open Note – Stocks improve and dollar surges

Posted on November 19, 2021 at 2:17 pm GMT

King dollar comes on top as rate hike prospects grow US stock futures are near their highs but are showing minor slack, more so the S&P and Dow Jones composites than the Nasdaq 100. Expectations of lift-off in rate hikes in 2022, once tapering ends, has aided the reserve currency. The dollar index has shot back above the 96.00 mark, but USDJPY plunged past the 114.00 level and is currently around 113.80. While unlikely, should job projections be around pre-pandemic [..]

Technical Analysis – AUDUSD visits uptrend line; still bullish

Posted on November 19, 2021 at 12:30 pm GMT

AUDUSD is challenging the short-term ascending trend line and if there is a close beneath that line, it could endorse the descending movement that started after the touch on the 200-day simple moving average (SMA) around 0.7560. The 20-day SMA is ready for a bearish cross with the 40-day SMA and the Ichimoku lines are falling too. The RSI is hovering in the negative region and is pointing down, while the stochastic is holding in the negative region after the negative crossover [..]

Week Ahead – European PMIs could spell more bad news for euro

Posted on November 19, 2021 at 10:23 am GMT

The euro has been demolished by fears that new lockdowns will hit economic growth. This has turbocharged the dollar as traders look for shelter, and the upcoming business surveys will be crucial for whether this rotation continues. Meanwhile, markets are split on whether the Reserve Bank of New Zealand will deliver a single or double rate increase, leaving the kiwi vulnerable in case the central bank ‘plays it safe’. Euro gets hammered The single currency has been taken to the [..]

Daily Market Comment – Fresh records for Wall Street; euro gets kicked by Lagarde again

Posted on November 19, 2021 at 10:20 am GMT

Optimism returns to equity markets as US stocks scale fresh all-time highs Rate hike expectations go into overdrive, dollar comes out the winner Dovish Lagarde deals another blow to battered euro Growth fears ease after solid data, buoy stocks After struggling a bit in the last couple of days, global stock markets look set to end the week firmly higher, led by another record close on Wall Street on Thursday. A robust set of economic indicators out of the United [..]

US Open Note – Dollar eases awaiting new market movers; Turkish lira plummets

Posted on November 18, 2021 at 1:57 pm GMT

Initial jobless claims come out; dollar still falling US jobless claims declined by one thousand in the week ending November 13th, a new pandemic low as the labor market continues to slowly recover from the coronavirus hit. The US dollar index is continuing the selling interest that started on Thursday, flirting with 95.60. Dollar/yen is hovering above 114.00 after posting a new high yesterday. Euro/dollar is jumping above the 16-month low of 1.1263, recouping some losses, while pound/dollar is approaching 1.3500. US stock futures are heading for a [..]

Technical Analysis – AUDUSD rebounds off ascending line after the declining move

Posted on November 18, 2021 at 8:07 am GMT

AUDUSD is creating a downward movement after the bounce off the 0.7560 resistance, dropping beneath the 20- and 40-day simple moving averages (SMAs). Despite that decline, the pair found support at the short-term uptrend line and any moves below that line could endorse a negative outlook. The stochastic oscillator is confirming the falling move, approaching the oversold territory with a bearish cross within the %K and %D lines. However, after the recent upside session, the RSI is pointing up in [..]

Daily Market Comment – Euro in freefall as outlook dims; pound gains on inflation jump

Posted on November 17, 2021 at 9:59 am GMT

Euro tumbles again as dovish ECB and mounting worries weigh Pound modestly higher after UK inflation tops 4% Dollar reigns supreme as strong US data run continues Euro can’t catch a break The euro is sinking, stretching its week-long slide and breaching the $1.13 level for the first time since July 2020, as investors turn more bearish on the Eurozone outlook. The single currency had already come under heavy selling pressure from last week’s big jump in US inflation, which [..]

US Open Note – Dollar continues march higher after the US retail sales release

Posted on November 16, 2021 at 2:04 pm GMT

US retail sales ticks up US retail sales are the highlight of today. The figure climbed by 1.7% m/m for October as compared to 0.8% in the previous month, driving the greenback higher. Despite supply issues and delivery delays, there is a strong belief that customers will begin their holiday shopping earlier this year. Vice President Biden has made his selection for the position of Chairman of the Federal Reserve. Powell is the most qualified candidate, even though Brainard has [..]

Daily Market Comment – Higher yields cap Wall Street gains but lift dollar, pound catches a bid

Posted on November 16, 2021 at 10:10 am GMT

Inflation worries lift Treasury yields, holding back stocks; retailer earnings in focus Little to report from Biden-Xi summit but easing tensions boost yuan Euro and pound pulled in opposite directions by policymakers, dollar holds firm It’s still all about inflation Uncertainty about the persistence of higher inflation continues to dog investor sentiment amid ongoing speculation about the timing of interest rate hikes by the world’s major central banks. A stronger-than-expected jump in the New York Fed’s manufacturing gauge on Monday [..]

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