All Articles Tagged - AUDUSD

Daily Market Comment – Stocks perk up but shaky after Biden-Xi call; dollar pares weekly gains

Posted on September 10, 2021 at 8:54 am GMT

Global equities in better mood, Biden-Xi call helps, but Wall Street still looking wobbly Euro buys Lagarde’s ‘not tapering’ depiction, stays sluggish after ECB cuts QE pace Dollar slides again but on track for weekly gains as Fed officials reaffirm taper timeline Stocks buoyed by hopes of improved Sino-US ties Equity markets were looking more cheery on Friday after somewhat of a tumultuous week. Renewed concerns about economic growth amid rising inflation and ongoing disruptions caused by the Delta variant, [..]

Daily Market Comment – Euro steady ahead of ECB but stocks hit by market jitters

Posted on September 9, 2021 at 9:23 am GMT

Euro holds above $1.18 ahead of expected ‘tapering’ by ECB Fresh China crackdowns and fears of slowing growth dent sentiment Stocks slip, dollar rebound eases but yen edges up ECB to taper but call it something else The European Central Bank will probably join the taper bandwagon when it announces the outcome of its policy meeting later today. However, with some way still to go for the Eurozone recovery and a sizeable degree of uncertainty about the outlook, policymakers will [..]

Technical Analysis – AUDUSD returns below cloud as upside momentum falters

Posted on September 9, 2021 at 8:21 am GMT

AUDUSD has pulled back beneath the Ichimoku cloud meeting the 50-day simple moving average (SMA) after a rally off a 9½-month trough, which formed at 0.7105. The longer-term 200-day SMA has yet to deliver a signal that negative forces are gaining an advantage. That said, the 50- and 100-day SMA’s prevailing bearish bearing remains intact for now, promoting sellers are at the wheel. The Ichimoku lines are indicating a stall in the ascent, in spite of the upward pointing red [..]

US Open Note – Market sentiment picks up and dollar takes a step back

Posted on September 8, 2021 at 1:52 pm GMT

Markets prepare for Bank of Canada meeting and US Jolts The major US indices have bounced back to earlier Asian levels, while the greenback has given up a tad of its gains, which it extended from yesterday. Renewed lockdowns and travel restrictions are not aiding growth and the persistently roaming delta variant is nourishing uncertainty around global recoveries, interfering with supply chains, which is feeding higher inflation. This seems to be producing a gloomy mood in the markets. The dollar [..]

Daily Market Comment – Dollar catches a bid; Johnson’s tax plan spooks pound

Posted on September 8, 2021 at 8:58 am GMT

Dollar stretches post-NFP rebound as yields creep up UK looks to tax hikes to cover Covid costs, pound slips to one-week low Loonie struggles ahead of Bank of Canada decision Dollar firms as November taper bets intensify The US dollar recouped more lost ground from the late August selloff as investors grew increasingly doubtful about whether Friday’s softer-than-expected jobs report would derail the Fed’s taper timeline. However, even though the Fed will likely still go ahead with tapering its monthly [..]

Technical Analysis – AUDUSD raises bearish flag after key breakaways

Posted on September 7, 2021 at 3:18 pm GMT

AUDUSD seems to have fractured the neckline of a bearish double top pattern at 0.7427 in the four-hour chart, simultaneously dissolving a supportive trendline and breaching the floor around the 20-period simple moving average (SMA). The downside crack is a warning that the bears could navigate the market in the coming sessions, with the RSI backing this narrative too, as the indicator is sinking below its 50 neutral level. The negative momentum in the MACD is another discouraging sign. Having slipped below the [..]

US Open Note – Dollar ticks green as markets eye central banks this week

Posted on September 7, 2021 at 1:51 pm GMT

Dollar demand weighs on major peers; US yields assist It appears markets have already forgotten Friday’s disappointing data regarding new jobs created. The somewhat upbeat market mood has lifted the US 10-year yield to 1.3664% and aided the greenback in its comeback today. The dollar index is pushing higher, currently at 92.40 and its renewed strength is reverberating across the forex arena in major pairs. The euro is at $1.1846, the pound is at $1.3770 and the USD/JPY pair has [..]

Daily Market Comment – Aussie slips on RBA’s dovish taper; dollar extends rebound

Posted on September 7, 2021 at 8:44 am GMT

RBA sticks to tapering but delays next move; aussie climbs then falls Dollar on steadier footing, strong China trade data buoys stocks Bank of Canada and ECB not expected to rock the boat RBA takes middle ground as Delta rages on The Reserve Bank of Australia stuck to its exit strategy from QE on Tuesday, pressing ahead with its decision to reduce bond purchases by A$1 billion a week this month. However, the central bank postponed its next review of [..]

Technical Analysis – AUDUSD positive bearing undamaged despite pullback

Posted on September 6, 2021 at 1:27 pm GMT

AUDUSD has managed to mute negative price action, finding footing from the 0.7408-0.7426 zone formed by highs in the beginning of August (previous resistance-now-support). The soaring 50-period simple moving average (SMA) and the upturn in the 100- and 200-period SMAs are all nourishing the positive picture. The bullish tone of the Ichimoku lines is suggesting a resumption of upside price action and the short-term oscillators have yet to confirm a break down in positive momentum. The MACD – in spite [..]

US Open Note – Dollar leads the FX space on Labor day; RBA policy decision eyed

Posted on September 6, 2021 at 1:24 pm GMT

US dollar in recovery mode after NFP loss A faster-than-expected slowdown in US employment growth has not entirely written off the case of bond tapering this year but was solid enough to kick the can down the road and raise speculation for a potential announcement in November rather than at this month’s FOMC policy meeting. A significant progress in the US labor market is a prerequisite for the Fed to start unwinding its massive stimulus program, but with jobs growth [..]

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