All Articles Tagged - AUDUSD

Daily Market Comment – Equities perk up but Delta casts shadow over Jackson Hole

Posted on August 23, 2021 at 9:16 am GMT

Trading gets off to a somewhat more positive start as stocks and commodities rise, dollar slips But Delta surge forces Jackson Hole to go virtual again, taper clues in doubt Flash PMIs in focus amid recovery fears as Delta variant rages on Panic subsides but could be the Fed’s turn to get jittery After a tumultuous week, the market mood brightened somewhat on Monday after stocks on Wall Street extended their rebound on Friday. Bargain hunting appears to be reviving [..]

Week Ahead – Fed taper: will they or won’t they? Splits loom over Jackson Hole

Posted on August 20, 2021 at 1:05 pm GMT

The upcoming week will kick off with a bang as the flash PMI readings for August will flood the markets on Monday. However, it might go all quiet after that before Fed officials gather at Jackson Hole later in the week for this year’s economic symposium, which is set to be dominated by discussions on how and when to unwind the Fed’s emergency stimulus. Will policymakers finally lay out their tapering plans, potentially lifting the US dollar to fresh yearly [..]

US Open Note – FX markets head south; stocks continue to drop

Posted on August 20, 2021 at 12:57 pm GMT

Dollar index rises slightly Watered-down expectations heading into Jackson Hole next week reveal more about the economy than the Fed’s plans to taper. If the Fed does not announce a taper soon, the fear is that they will not have the opportunity to do so if the US virus situation does not get better in the coming months. The US dollar index is surging to a new nine-month high of 93.67 today, posting the fifth consecutive green day. The greenback is flattening against the Japanese [..]

Daily Market Comment – Commodity currencies in agony, stocks undecided

Posted on August 20, 2021 at 8:46 am GMT

Dollar stands tall as commodity FX continues to break down Big tech keeps US stocks afloat, Chinese markets sink All eyes on the Fed’s Jackson Hole symposium next week Commodity currencies bite the dust It’s been a wild week for financial markets, dominated by concerns that the Delta outbreak will put the brakes on the global economic recovery. Even though many of the major economies are protected by a vaccine shield, the fear is that the virus could cool demand [..]

US Open Note – Riskier currencies plummet amid dollar strength

Posted on August 19, 2021 at 12:57 pm GMT

FOMC minutes drive dollar up Following the minutes from the latest FOMC meeting, the dollar index rose to 93.4 on Thursday, the highest closing level since November 2020. Numerous market participants now believe that the Fed will disclose a tapering timeline at the Jackson Hole Symposium next week. There will be less cash poured into the system if asset purchases are reduced. US stocks slid and are headed for a negative open today, while dollar/yen is heading south around 109.60. [..]

Daily Market Comment – Stock selloff deepens, dollar capitalizes

Posted on August 19, 2021 at 8:48 am GMT

Risk aversion pummels stocks, oil, and commodity FX US dollar shines bright as traders seek protection Fed minutes don’t reveal much, gold unable to shine Growth fears deepen A sense of nervousness has returned to haunt financial markets. Investors are increasingly slashing their exposure to riskier assets amid concerns that the Delta outbreak will kneecap global growth, at a time when central banks are trying to take their foot off the accelerator. One by one, different charts are telling the [..]

Technical Analysis – AUDUSD tumbles to new 9-month low

Posted on August 19, 2021 at 7:25 am GMT

AUDUSD has reached a new nine-month low of 0.7174, which holds beneath the significant 200-week simple moving average (SMA). The negative structure in the price is confirmed by the technical indicators. The MACD oscillator decreased beneath its trigger line in the negative region, while the RSI is moving slightly lower near the oversold area. If the price dips further, this could take the market towards the next strong support at 0.6990, registered in November 2020 ahead of the 0.6775 barrier, [..]

US Open Note – FOMC minutes next on the radar; greenback steady

Posted on August 18, 2021 at 1:13 pm GMT

Dollar awaits FOMC minutes for notable move The major highlight of the day is expected to be the FOMC minutes announcement. In the run up to the Jackson Hole Symposium next week, the minutes from the July 27-28 meeting will be of considerable interest. Investors are anticipating to see a highly hawkish tone in the minutes. A hawkish change is likely to occur in the September Dot Plots, with median launch expectations for a rate hike moving to 2022. The [..]

Battered Australian dollar looks to jobs data – Forex News Preview

Posted on August 17, 2021 at 3:18 pm GMT

It’s a busy week in Australia. The nation’s wage data for Q2 will be released at 01:30 GMT Wednesday before the jobs numbers for July hit the markets at the same time on Thursday. As for the aussie, it has been pulverized lately by a perfect storm of domestic lockdowns, China slowing down, and falling iron ore prices. The currency’s suffering could continue until something drastic changes. Zero tolerance It has been a dreadful couple of months for Australia. Most [..]

US Open Note – US retail sales released with minor impact on dollar; kiwi tumbles

Posted on August 17, 2021 at 1:06 pm GMT

US retail sales miss is mild hit to dollar The recovery in the US dollar after Friday’s sell-off is continuing today, with only a minor market reaction after the retail sales release. Retail sales in the US rose by 1.1% m/m in July versus -0.3% that was the forecast and from an upwardly revised 0.7% in the previous month. The US dollar index is up two days in a row and has nearly retraced half of its previous day’s loss. Dollar/yen is recouping some of the losses of the previous days, trading above 109.00. US [..]

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