All Articles Tagged - AUDUSD

Daily Market Comment – Fed taper talk approaching fever pitch, dollar edges up again

Posted on August 10, 2021 at 9:06 am GMT

Fed officials heighten taper speculation, flag a decision is nearing; dollar stands tall Optimism keeps stocks afloat even as yields rise, Delta concerns linger Commodities on steadier footing but Fed tapering, demand uncertainty still weigh Fed leaves little doubt tapering is coming soon The first response by Fed policymakers to last week’s stellar jobs report left investors in no doubt that the US central bank is closing in on its criteria of achieving “substantial further progress” towards its goals. The [..]

Technical Analysis – AUDUSD finds support but outlook still bearish

Posted on August 9, 2021 at 1:38 pm GMT

AUDUSD gained some positive traction after steadying in the well-established 0.7335 support region following Friday’s sharp selloff. The price is currently moving higher and the stochastics are also pointing up, suggesting there could be further moderate gains in the coming sessions. However, the MACD histogram remains below zero and the red signal line continues to slope downwards. Moreover, price action is still far below the 50- and 200-period moving averages (MA) in the 4-hour chart, indicating no change to the [..]

Daily Market Comment – Dollar eases from post-NFP highs; gold steadies after crash

Posted on August 9, 2021 at 9:06 am GMT

Dollar off highs but elevated after strong NFP puts September taper back on the table Gold plunges below $1,700 before rebounding as yields spike, but oil’s rout deepens Stocks undaunted by prospect of earlier Fed tapering as Wall Street sets new records Taper speculation heats up after bumper US jobs report Markets were left wondering just how much progress is substantial after the US labour market added another 943k jobs in July, while upward revisions to both the May and [..]

Weekly comment – US inflation data could shake things up

Posted on August 6, 2021 at 1:51 pm GMT

It was another volatile week that ended with the USD cruising higher after the Fed Vice Chairman threw his weight behind tapering soon and nonfarm payrolls beat forecasts. The Bank of England took another step towards normalization too. There aren’t many events next week, although US inflation data could spice things up. The highlights: · Inflation stats out of America will be released Wednesday. Forecasts suggest inflation will cool down a little, but still remain above 5%. Combined with a [..]

Technical Analysis – AUDUSD tries to overcome 0.7400; holds in horizontal trajectory

Posted on August 5, 2021 at 7:39 am GMT

AUDUSD is in the process to surpass the 20-day simple moving average (SMA) and the 0.7405 resistance. However, the pair has been developing within a horizontal trajectory over the last two weeks, with upper boundary the 0.7405 resistance and lower boundary the eight-month low of 0.7288. According to the technical indicators, the MACD is surpassing its trigger line but is still holding below the zero line. Moreover, the RSI is flattening below the 50 level, mirroring the market price action [..]

US Open Note – Dollar jitters rise and commodity currencies flicker green

Posted on August 4, 2021 at 2:22 pm GMT

Dollar kept on back foot after huge ADP jobs miss What does today’s huge miss in the ADP Non-Farm Employment change say about Friday’s July NFP jobs report? Do the weaker numbers of 330K jobs gained in July versus the expectations of 695K and 692K in June dampen the picture of a strong US labour market? Do today’s employment results paint the opposite picture delivered by Fed Chairman Powell’s latest comments that employment is picking up at a good pace, [..]

US Open Note – Dollar fizzles despite tapering hints; European stocks at fresh record highs

Posted on August 3, 2021 at 1:08 pm GMT

Delta fears The rest of the day will be quiet in terms of data releases but there are enough things happening globally to keep investors busy in the next sessions. The delta outbreak has stretched to China, which has been out of the Covid headlines for a while, forcing authorities to halt flights and other public transports towards Beijing. With the second biggest economy of the world teaming up with other Asian economies to fight against the troubling new Covid [..]

Daily Market Comment – Yield meltdown boosts yen, RBA holds the line

Posted on August 3, 2021 at 8:29 am GMT

Yen shines, stock markets erase gains as bond yields slide Fed Governor Waller opens door for September tapering RBA sticks to tightening plan despite lockdowns, aussie jumps Bond market nerves lift yen The sense of nervousness that haunted the bond market in recent months has returned, putting investors across every asset class on red alert. Yields on government bonds continue to melt down, indicating spectacular demand for safe assets even despite their negative real returns. The question is whether the [..]

Technical Analysis – AUDUSD consolidates below 0.74 but buyers intensify

Posted on August 2, 2021 at 3:25 pm GMT

AUDUSD is currently pushing above the 50-period simple moving averages (SMAs) and the flattening Ichimoku lines at 0.7364. The falling 200- and 100-period SMAs are endorsing a negative price trajectory, while the slight uptick in the 50-period SMA is reflecting buyers’ efforts to fight back. The Ichimoku lines are signalling dried up directional momentum, while the short-term oscillators are conveying weak and mixed signals as a clear price course has yet to evolve or begin to gain a lead. The [..]

RBA could put off tapering decision and expose aussie to more declines – Forex News Preview

Posted on August 2, 2021 at 3:16 pm GMT

Four weeks ago, the Reserve Bank of Australia (RBA) claimed that the economy is in a good shape, and it would proceed with its bond tapering schedule as soon as September, despite the Covid uncertainty. On Tuesday, however, the Bank is expected to awkwardly postpone its tapering pledge and show commitment to support the economy as new lockdown measures threaten the recovery phase. The policy announcement will be published at 01:30 GMT. From success to failure Australia has been an [..]

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