All Articles Tagged - AUDUSD

Daily Market Comment – Dollar pares NFP-led losses, focus turns to ECB

Posted on September 6, 2021 at 9:08 am GMT

Dollar off lows, yields edge up as investors digest mixed jobs report Global equities rally, led by China and Japan, spurred by stimulus hopes Aussie slips ahead of RBA decision, euro eyes ECB meeting Dollar recoups some losses as Fed outlook little changed The US dollar is recovering from one-month lows on Monday, having deepened its latest slide on Friday following the mixed readings on the labour market. The US economy added far fewer jobs than anticipated in August, but [..]

US Open Note – Dollar in tears after NFP miss; euro spikes above 1.1900

Posted on September 3, 2021 at 1:54 pm GMT

Nonfarm payrolls miss forecasts; dollar down US nonfarm payrolls took center stage on Friday, presenting an employment growth of 273k for the month of August, which was way below the forecast of 750k but still enough to press the unemployment rate to 5.2% as expected, and let average hourly wages to spike faster than analysts anticipated by 4.3% m/m. Despite some early warnings from the private ADP employment report and the ISM PMI business readings this week, the data spooked [..]

Weekly Comment – EUR gets lift from USD woes, eyes more hawkish ECB

Posted on September 3, 2021 at 1:38 pm GMT

USD’s losses accelerated this week, with a big NFP miss exacerbating the pain. But there’s not much prospect of a quick bounce back in USD as it’s looking like a very light calendar over in America. But it will be quite busy elsewhere. The ECB, BoC and RBA all meet and will likely be discussing tapering, one way or another. The highlights: The ECB meets on Thursday and could decide to ditch its commitment of “significantly higher pace” of asset [..]

Week Ahead – Tapering high on the agenda as ECB, BoC and RBA meet

Posted on September 3, 2021 at 12:47 pm GMT

After the recent taper fever, the Fed may fall out of the limelight next week as other central banks take centre stage. The European Central Bank, Bank of Canada and Reserve Bank of Australia will hold their policy meetings. While a hawkish tilt is possible with the first two, the latter may lean in the opposite direction. With not a lot happening on the data front, the tapering timelines of each central bank look set to dominate the market theme [..]

RBA meeting: No right choices for the aussie – Forex News Preview

Posted on September 3, 2021 at 11:53 am GMT

The Reserve Bank of Australia (RBA) will conclude its latest meeting at 04:30 GMT Tuesday. Markets are split on whether the central bank will stick to its taper plans or whether it will reverse that decision as lockdowns continue. The risks surrounding the aussie from this meeting seem tilted to the downside, as even a decision to push ahead with tapering might be seen as a policy mistake. Dodging a recession The past couple of months have been tough for [..]

Daily Market Comment – Locked and loaded for nonfarm payrolls

Posted on September 3, 2021 at 8:35 am GMT

Dollar on the defensive ahead of US employment report Stocks and commodity currencies continue to party Japanese leader steps down, Nikkei smells more spending Markets position for NFP disappointment The moment of truth is finally here. Investors across the world are on the edge of their seats waiting for the latest US employment report, which will hopefully settle the debate of when the Fed will begin to close the liquidity taps. Nonfarm payrolls are expected to clock in at 750k [..]

US Open Note – Downbeat ADP jobs data drive dollar lower; Wall Street opens higher

Posted on September 1, 2021 at 1:35 pm GMT

Global stocks have a good start to September Global markets had a solid start to September, with European equities following their Asian rivals higher and crawling back towards their recent record highs despite fears of a growth slowdown, the troubling supply shortages, and the scarcity of qualified employees, which keep production costs elevated. Of course, businesses can always raise margins and transfer the increased costs to consumers, making cost pressures less problematic as long as consumption remains solid and central [..]

US Open Note – Dollar set for positive monthly close despite weakness; stocks falter

Posted on August 31, 2021 at 1:36 pm GMT

Dollar falls to fresh lows, but outlook still promising The US dollar was down across the board on Tuesday, retreating below its post-Jackson Hole low earlier in the day to trade at 92.36 against a basket of six major currencies as investors remained in the dark about when the Fed will officially kick off its bond tapering phase. The outlook, however, is still promising for the greenback, which is set to close the month in the positive territory since the [..]

Technical Analysis – AUDUSD aims to hold above 20-SMA; short-term bias bullish

Posted on August 31, 2021 at 9:10 am GMT

AUDUSD looks determined to stay above its 20-day simple moving average (SMA) and the 23.6% Fibonacci level of the 0.7890 – 0.7105 downleg at 0.7290 after barely closing above that line in the past two sessions, with the price gearing up to a two-week high of 0.7340 early on Tuesday. While the Stochastics are already hovering within the overbought territory, they have yet to show any weakness, keeping the bias skewed to the upside. Also, the RSI managed to extend [..]

US Open Note – Dollar flat as Powell continues to feed Wall Street bulls

Posted on August 30, 2021 at 1:58 pm GMT

Dollar remains muted after Friday’s pullback The delta wave uncertainty forced Federal Reserve Chairman Jerome Powell to play it safe during Friday’s Jackson Hole symposium, setting no timeline and expressing no rush for winding down stimulus despite flagging that bond tapering will start this year. His dovish remarks sent the dollar index lower but within the 92.00 territory as the euro and the pound found the chance to steal some ground on the news. ECB’s Villeroy signals PEPP reduction, but [..]

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