All Articles Tagged - AUDUSD

ECB plays down rate hike scenario but euro flies to fresh session highs – US Open Note

Posted on October 28, 2021 at 2:21 pm GMT

Global flattening of yield curves A flattening of global bond yield curves gained momentum on Thursday, ratcheting concerns about the pace of economic growth as more central banks start to signal higher interest rates in the foreseeable future amid the persisting inflationary pressures. Specifically, the 2-year Treasury yield climbed to the highest since March 2020 on Wednesday, narrowing the gap with the 10-year yield, while the Canadian and Australian equivalents marked a multi-year daily increase following the hawkish rate statement from [..]

Daily Market Comment – Will ECB fight market pricing for early rate hikes?

Posted on October 28, 2021 at 8:18 am GMT

ECB could tone down market expectations today, hurting euro Loonie jumps after BoC terminates QE program but oil prices weigh Stocks retreat amid worries of central bank error, US GDP eyed Euro reality check? The spotlight will fall on the European Central Bank (ECB) today, which will conclude its latest meeting at 11:45 GMT. Stagflation risks have engulfed the euro area economy lately with the mayhem in supply chains, collateral damage from China, and the calamity in energy prices threatening [..]

Technical Analysis – AUDUSD stuck around 0.7500, but bias still positive

Posted on October 28, 2021 at 7:37 am GMT

AUDUSD keeps fighting for a decisive close above the 0.7500 level for the second consecutive week, despite setting a foothold near the 0.7460 number. The recent fruitless bullish attempts suggest buying forces are fizzling out, with the MACD and the RSI somewhat endorsing that view as the former is rising at a relatively softer pace and the latter seems to be creating a lower high below its 70 overbought mark. Yet, as long as the indicators remain within the bullish [..]

Technical Analysis – AUDUSD still bullish despite gentler upwards drive

Posted on October 27, 2021 at 3:29 pm GMT

AUDUSD’s one-month rally, which began at 0.7169, seems to have dropped a gear after reaching a three-and-a-half-month high of 0.7546. That said, the advancing simple moving averages (SMAs) are still endorsing the uptrend. The Ichimoku lines are indicating a pause in upwards impetus, while the short-term oscillators are suggesting the price may try to retest the 50-period SMA at 0.7474 and the 0.7453 lows. The MACD is a tad above its flat red trigger line, which is showing weak positive [..]

US Open Note – Bank of Canada takes center stage; dollar loses momentum

Posted on October 27, 2021 at 1:11 pm GMT

BoC rate decision coming up The Bank of Canada’s interest rate decision is the main event of the day. Policymakers are predicted to leave rates unchanged at 0.25%. Economic growth has fired up, inflation is hot, businesses are feeling optimistic, the housing market is booming, and oil prices continue to climb. Macroeconomic projections that will be updated may provide some hints. The CPI for September came in at 4.4% year on year, more than double the target of 2% and significantly higher than the intended range of 1-3%. Retail sales and employment data [..]

Could Australian CPI inflation shake the aussie? – Forex News Preview

Posted on October 26, 2021 at 3:39 pm GMT

Australia will publish its CPI inflation readings for the September quarter on Wednesday at 00:30 GMT in what could develop into a volatile session for the aussie as the gap between RBA policymakers and investors over the interest rate outlook gets wider. Expectations are for the core CPI to have marched higher, with the aussie likely gaining fresh buying traction if the data overshoots forecasts. New Zealand’s inflation spike shifts attention to Australia In the second quarter, surging prices in [..]

US Open Note – Stocks around highs, dollar flat, and gold’s resilience tested

Posted on October 26, 2021 at 2:04 pm GMT

Sentiment improves but focus remains on BOC, ECB, and US GDP figures The dollar seems to be flat ahead of Thursday’s GDP figures, scheduled for 12:30 GMT. Even if the GDP figures disappoint, the damage could be largely short-lived because on the horizon is an FOMC meeting on November 3, expected to signal the start of tapering and possibly depict a clear tapering timeline. Moreover, an imminent huge infrastructure bill is on the cards, which the US Congress is working [..]

Technical Analysis – AUDUSD violates descending line; next battle with 200-day SMA

Posted on October 26, 2021 at 1:58 pm GMT

AUDUSD stretched its four-week rally to an almost four-month high of 0.7545 last Thursday. Currently, the price is approaching this level again, penetrating the long-term descending line to the upside. The RSI seems to be gaining momentum around the overbought region, while the %K line of the stochastic oscillator is ready to post a bullish cross with the %D line. The pair needs to overcome the 0.7545 top and the 200-day simple moving average (SMA) at 0.7556 to meet a key barrier at [..]

US Open Note – Calm day ahead of busy week; oil around $85

Posted on October 25, 2021 at 1:00 pm GMT

US futures near new highs; Facebook releases its earnings Today’s economic calendar is light, but the rest of the week promises to be very interesting, with central bank meetings in the Eurozone, Canada, and Japan, as well as earnings reports from the technology industry’s heavy hitters. Facebook will launch the earnings campaign immediately following Wall Street’s closing bell. It is somewhat bizarre to watch US futures trading marginally lower from their all-time highs, even as inflation predictions continue to rise. If the tech sector earnings approve, the [..]

Week Ahead – ECB, BoC, and BoJ meetings in the spotlight

Posted on October 22, 2021 at 11:28 am GMT

It’s a huge week ahead, with three central bank meetings and a storm of data releases that will reveal how the major economies performed amid paralyzed supply chains. The Bank of Canada might signal that powerful rate hikes are coming, whereas the European Central Bank could push back against speculation of early tightening as Europe grapples with the energy shock. Similarly, investors may have gone too far with pricing in aggressive rate increases in the UK and Australia. BoC – [..]

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