All Articles Tagged - AUDUSD

Can Australian labour data send the aussie higher? – Preview

Posted on May 15, 2024 at 8:09 am GMT

Forecasts suggest higher unemployment rate Employment change expected to tick higher Aussie holds within trading range, data due on Thursday at 01:30 GMT Upon being dissatisfied with the RBA’s choice to adopt a neutral position, Australian dollar traders will now redirect their attention towards Thursday’s employment report. While the Bank officials maintained their stance at their decision last week, further increases in wage growth, which has been ascending since the third quarter of 2020, and a robust employment recovery could significantly increase the likelihood of a rate hike [..]

Market Comment – Dollar under pressure ahead of the US CPI release

Posted on May 15, 2024 at 8:08 am GMT

Countdown to US CPI report is almost over Increased risk of an upside surprise after strong PPI US dollar on the back foot today as equities in waiting mode China prepares to go all in to save the housing sector Dollar remains on the back foot The countdown to the 12:30 GMT release of the April US CPI report is almost over. Market forecasts point to a monthly change of 0.4% for the headline CPI, pushing the annual growth rate [..]

Market Comment – Investors cautious as spotlight falls on US inflation

Posted on May 13, 2024 at 8:12 am GMT

Dollar gains slightly on hawkish Fed remarks Investors scale back their Fed rate cut bets China’s CPI rises for the third straight month US stocks stay supported despite rebound in yields Dollar bolstered by Fed, inflation expectations The US dollar traded slightly higher against most of its major peers on Friday, while it started the new week on a cautious note, with traders perhaps reluctant to assume large positions ahead of Wednesday’s CPI inflation numbers. After a less hawkish-than-expected [..]

Week Ahead – US inflation numbers to shake Fed rate cut bets

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

Fed rate-cut speculators rest hopes on US inflation data After dovish BoE, pound traders turn to UK job numbers Will a strong labor market convince the RBA to hike? More Chinese data on tap amid signs of slow Q2 start Spotlight turns to US CPI numbers At last week’s meeting, the Fed appeared less hawkish than expected, with Chair Powell ruling out rate hikes and hinting that they are still leaning towards cuts. The softer-than-expected jobs report for April corroborated [..]

Technical Analysis – AUDUSD remains undecided near crucial technical region

Posted on May 10, 2024 at 8:01 am GMT

AUDUSD repeatedly fails to conquer the 0.6643-0.6666 range But outlook is positive as price holds above 50 and 200-day SMAs Momentum indicators deteriorate but remain in positive zones AUDUSD has been in a steady advance since its bounce off the five-month low of 0.6363 in mid-April. Although the pair has been rejected at the 0.6643-0.6666 range three times so far in 2024, the bulls do not seem ready to give up. If buying pressures persist, the price may initially test the [..]

Technical Analysis – AUDUSD stays trapped below spring’s border

Posted on May 7, 2024 at 4:21 pm GMT

AUDUSD loses momentum near the critical resistance of 0.6640 after constructive week Short-term bias skewed to the upside, but caution required AUDUSD keeps stubbornly seeking a close above the March-April resistance zone of 0.6640 and the 38.2% Fibonacci retracement of the October-December upleg for the third consecutive trading day. The Reserve Bank of Australia forced the pair to move slightly lower during Tuesday’s Asian session after playing down the odds for a rate hike, but the decline paused immediately [..]

Market Comment – Dollar stays weak as Fed rate cut bets increase

Posted on May 7, 2024 at 7:51 am GMT

US labor market cools more than expected Dollar slides as two rate cuts this year become more likely Yen retreats as intervention momentum fades Wall Street cheers prospect of lower interest rates Investors add back to their Fed rate cut bets The US dollar tumbled across the board on Friday and extended losses against some of its major peers on Monday after the US employment report revealed that the world’s largest economy saw its fewest job gains in six months [..]

Week Ahead – BoE and RBA decisions headline a calm week

Posted on May 3, 2024 at 7:36 am GMT

Bank of England meets on Thursday, unlikely to signal rate cuts Reserve Bank of Australia could maintain a higher-for-longer stance Elsewhere, Bank of Japan releases summary of opinions BoE – No rate cuts yet Britain’s economy seems to have escaped the shallow recession it fell into last year, and has finally entered the recovery phase. Business surveys point to solid growth in the first quarter and even stronger momentum in the second quarter, powered by a rebound in consumer [..]

RBA decision: will a rate hike be back on the table? – Preview

Posted on May 2, 2024 at 7:55 am GMT

RBA meets amid uptick in Australian inflation Muddied economic outlook may complicate policy path Aussie remains choppy ahead of Tuesday’s decision (04:30 GMT) Inflation setback The Reserve Bank of Australia is no stranger to policy flip-flops and the May decision may just add to the tally. Having dropped their tightening bias as recently as the last meeting in March, policymakers are staring at an unpleasant inflation picture. The monthly CPI reading ticked up to 3.5% y/y in March, while two [..]

Technical Analysis – Bullish pressure in AUDUSD lingers

Posted on May 2, 2024 at 6:45 am GMT

AUDUSD in the green again today, above the 50-day SMA The bullish tendency manifesting since the April low persists Momentum indicators mostly mixed; stochastics could send a bullish signal AUDUSD is recording another green candle as the market appears to be relieved that Fed Chairman Powell did not mention rate hikes as a viable policy option at Wednesday’s press conference. AUDUSD is currently battling with the 50-day simple moving average (SMA) and possibly on its way to break the recent [..]

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