All Articles Tagged - AUDUSD

Weekly Comment – Stagflation fears hammer stocks, boost dollar

Posted on October 1, 2021 at 10:59 am GMT

Supply chain disruptions combined with the global energy crisis have awakened fears of stagflation, favoring the safe haven assets. Manufacturing activity in China took a hit as widespread energy shortages compounded a loss of momentum across its economy. A deal to avert the US government shutdown was reached, but Joe Biden’s spending bill is still in trouble. Next week, all eyes will be on the latest US employment report, central bank meetings in Australia and New Zealand, and an OPEC+ [..]

Week Ahead – US jobs report, RBNZ rate hike may further roil markets amid turbulence

Posted on September 30, 2021 at 2:17 pm GMT

Just as central banks thought it was safe to begin closing the taps on stimulus, warning signals are flashing red across the markets as fears grow of a sharp slowdown in growth in the major economies. However, policymakers are expected to stay on the tightening path for now, with the September jobs report likely giving the Fed the green light to taper in November, while the Reserve Bank of New Zealand will probably press on with a telegraphed rate hike. [..]

Technical Analysis – AUDUSD bounces off 1-month low below 0.72

Posted on September 30, 2021 at 6:55 am GMT

AUDUSD has been underperforming in the past two days, diving to a one-month low of 0.7172 and remaining below the Ichimoku cloud and the short-term simple moving averages (SMAs). However, today, the price is ticking up again with the RSI mirroring this latest movement. The MACD is still moving downwards with strong momentum beneath its trigger and zero lines. The next target to the downside is the nine-month low of 0.7103. At this stage the market would likely a resumption [..]

US Open Note – Stocks struggle as upbeat dollar endures, gold recoups some losses

Posted on September 29, 2021 at 1:50 pm GMT

Market tone sparks concerns around high inflation and lagging growth Although the global energy crisis is putting pressure on economies resulting from China’s coal shortages, as well as rising natural gas prices and disruptions in oil production in the US, investors’ focus will shift towards the virtual panel discussion at the ECB Forum on Central Banking scheduled at 15:45 GMT, where central bank governors will participate. Yesterday, Chair Powell and Secretary Yellen touched on the fact that failing to raise [..]

US Open Note – Market sentiment dulls; dollar aided by climb in yields

Posted on September 28, 2021 at 1:40 pm GMT

Stocks pull back and dollar firms, ready to digest central bank speeches The US major indices are retreating as a result of a dampened market mood on the back of global energy uncertainties and rising yields, which have simultaneously underpinned the king dollar. Currently the 10-year yield is at 1.53% and may be adding to the haven appeal of the reserve currency, reinforcing its latest resilience. The dollar index floated up until 93.65. The greenback has strengthened across a basket [..]

China PMIs eyed amid worsening power crisis and Evergrande woes – Forex News Preview

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

The latest headlines out of China haven’t been particularly encouraging. The country’s power outages appear to be worsening, supply shortages and soaring prices are stifling businesses, regulatory crackdowns are on the up, and the Evergrande debacle is about to send shockwaves through the property sector, if not the entire economy. The manufacturing PMIs for September due on Thursday will therefore be attracting a lot of attention as concerns grow about a major slowdown in the world’s second largest economy. Manufacturers’ [..]

Technical Analysis – AUDUSD consolidates beneath longer-term MAs; price neutral

Posted on September 27, 2021 at 3:08 pm GMT

AUDUSD is currently edging sideways within the limits of 0.7219 and 0.7316, with positive price action somewhat ahead at the moment but tackling the 50-period simple moving average (SMA) at 0.7272. The trend signal in the SMAs is weak but is leaning a tad towards the downside. Moreover, as things stand, the short-term oscillators are reflecting conflicting messages in directional momentum. The MACD is ever so slightly above its red trigger and zero lines, while the RSI has marginally nudged [..]

US Open Note – Dollar gains notable ground; oil continues the rise

Posted on September 27, 2021 at 12:44 pm GMT

Euro eases further after German elections The current week begins with traders’ attention on the German election results, but it serves as a reminder that politics is in full swing this week. The results of the German federal election showed that the centre-left SDP party won a small plurality, as expected. The government negotiations are expected to go until Christmas, according to some estimates. As a result, Merkel may keep her job as Chancellor for a few more months. The [..]

Daily Market Comment – Bond markets come alive as tighter policy looms, stock rally eases

Posted on September 24, 2021 at 9:27 am GMT

Sovereign bond yields jump on optimism and rising prospect of policy tightening Equities rebound fizzles out as lingering doubts about Evergrande cuts party short Dollar gives up all post-Fed gains but limited bounce back for riskier currencies Bond markets finally wake up to the sound of central banks US Treasury yields led the surge in global government bond yields amid a delayed response to the flagging of an imminent taper announcement by the Federal Reserve on Wednesday. Bond traders finally [..]

US Open Note – BoE cheers pound bulls; stocks maintain post-Fed advances

Posted on September 23, 2021 at 1:42 pm GMT

BoE sends some bullish shockwaves The Bank of England (BoE) left its policy settings unchanged as expected with a vote of 9-0 to keep interest rates steady at 0.1% on Thursday but provided some hawkish tilts for the pound to distance itself from the key 1.3600 support level and drift above 1.3700 against the US dollar. The BoE committee judged that despite some uncertainties that remain to be tacked, price developments over the forecast period have strengthened the case for [..]

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