All Articles Tagged - AUDUSD

Daily Market Comment – Inflation and growth worries take heat off stocks rebound, dollar firms

Posted on October 18, 2021 at 8:58 am GMT

China GDP misses estimates, New Zealand CPI surges, reviving stagflation fears Stocks back in the red as doubts resurface but hopes on earnings keep optimism alive Bond yields edge up again as oil keeps climbing Kiwi erases earlier gains from rate hike bets as dollar bulls regain control China growth disappoints, dents risk appetite Economic growth in the world’s second largest economy slowed more than expected in the third quarter as China reported that GDP rose by 4.9% from a [..]

US Open Note – Yen still plunges; oil heads towards $82.00

Posted on October 15, 2021 at 1:07 pm GMT

Dollar index on mute today; US retail sales surprised The dollar index is hovering around 94.00 today, following two red days; however, dollar/yen is heading sharply higher towards a fresh three-year high around 114.20 due to a weakened Japanese yen. US retail sales unexpectedly rose 0.7% for September versus an upwardly revised 0.9% the prior month. A dovish Bank of Japan and growing 2-year U.S.-Japan rate differentials continue to be important factors. US futures are suggesting another positive day, after strong earnings releases. The single currency [..]

Week Ahead – Inflation, supply chain fears to persist as China GDP, flash PMIs eyed

Posted on October 15, 2021 at 12:44 pm GMT

Inflation data will grab the headlines for another week as more countries publish CPI numbers. But concerns about global growth will also preoccupy investors’ minds as China reports its GDP estimate for the third quarter and flash PMI figures for October are released. With the major central banks preparing to pull back their pandemic-era stimulus just as supply constraints are adding to businesses’ pain, there is heightened sensitivity in the markets about the growing threat of persistently high inflation. Will [..]

Weekly Comment – Risk appetite returns but China GDP could revive slowdown fears

Posted on October 15, 2021 at 12:03 pm GMT

Stocks staged a mid-week comeback after fears about surging inflation and worsening supply shortages had pummelled risk assets. But easing concerns have put a stop to the spike in government bond yields, with USD also pulling back. However, those fears could quickly return as a raft of inflation and PMI data are on the way and China reports its GDP numbers. The highlights: China’s economy will be in the spotlight on Monday as GDP figures are expected to show growth [..]

US Open Note – Stocks buoyant, dollar flashes green and commodities resilient

Posted on October 14, 2021 at 1:55 pm GMT

Market sentiment intact after cheery jobless claims and miss in US PPI Sentiment remains upbeat as US stock futures are extending their recent buoyancy after a drop in longer-term yields. The Fed’s meeting minutes published yesterday echoed the recent hawkish rhetoric, signalling that the taper timeline is likely to begin before the end of the year and fuelling expectations of an earlier rate hike. However, investors are now eyeing a lower terminal rate as a result of earlier action by [..]

Technical Analysis – AUDUSD paves way for further progress; bullish bias fragile

Posted on October 14, 2021 at 7:12 am GMT

AUDUSD is targeting the 0.7400 level again after successfully piercing the descending trendline drawn from May’s peak of 0.7890 on Wednesday. The bullish bias is still in place according to the momentum indicators as the MACD continues to grow within the positive area and above its red signal line, and the RSI keeps sloping upwards comfortably above its 50 neutral level. Yet, a careful approach will still be needed since the RSI is flirting with a major resistance territory, while [..]

US Open Note – Dollar remains stable after CPI and before FOMC Minutes

Posted on October 13, 2021 at 1:11 pm GMT

US CPI data jumps to 13-year high; dollar still firm The main event today was the release of the US CPI data ahead of the FOMC minutes later in the session. The annual inflation rate increased to a 13-year high of 5.4%, up from 5.3% in August and beyond market estimates of 5.3%. Consumer prices increased by 0.4% monthly, slightly exceeding predictions of 0.3%. The dollar seems to be keeping its recent gains. USD/JPY is holding below the 34-month high of 113.70. However, the euro is recouping some losses, trading near $1.1565, after [..]

Aussie heads north as unemployment rate expected to rise – Forex News Preview

Posted on October 12, 2021 at 9:29 am GMT

The aussie has been trading higher over the last few days, with the employment report for September, due out on Thursday at 00:30 GMT, likely to attract some attention. The RBA’s October meeting passed without much excitement. The statement was just a chance to update the market on any changes to the outlook as policy looks set to stay on hold until February 2022. The Australian dollar strengthened on Monday as commodities prices surged, and coronavirus restrictions in New South Wales – the country’s most populous state – were loosened. Unemployment rate to rise again The unemployment rate is forecasted to increase to 4.8% from [..]

US Open Note – Yen is in vertical fall; oil surpasses $82

Posted on October 11, 2021 at 12:57 pm GMT

Yen plunges driving dollar/yen sharply higher As a new week begins, the yen continues to plunge, pushed lower by a comeback in Asian stocks despite a rise in Japanese yields. Indeed, the 10-year JGB yield, which is currently at 0.093%, is on its way to 0.1%. The pound is currently the strongest, thanks to hawkish statements from Bank of England officials over the weekend. The Australian Dollar is closely following, and it is leading other commodity currencies higher as well. The US dollar index is weakening, [..]

Daily Market Comment – Fed taper bets alive and well after NFP miss

Posted on October 11, 2021 at 9:27 am GMT

Treasury yields keep climbing after big miss in US payrolls, pressuring stocks Dollar mixed but steady, may get more direction from Fed and CPI data Pound edges up as BoE flags rate hike again but EU row casts shadow Is it still all systems go for Fed taper? The much anticipated jobs report on Friday raised a lot of question marks about how strong the momentum really is in the US labour market as nonfarm payrolls increased by just 194k [..]

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