Things seem to be going well down under. With Iron Ore prices jumping close to 8% last week, Australia, the largest exporter of the raw material stands to benefit greatly. In 2021, Iron Ore exports totaled close to US$120 billion. This contributes greatly to the demand side pressure on the Australian dollar. Looking at the charts, the AUDUSD pair is currently...
The Australian dollar has reversed directions on Friday. AUD/USD is trading at 0.7225, down 0.55% on the day. US nonfarm payrolls are traditionally the highlight of the week, but the Ukraine war, spiralling inflation and surging oil prices have taken up much of the market's attention. This has reduced some of the hype around recent NFP releases, but they still...
The Australian dollar started the week with gains of close to one percent but has been mostly drifting since then. AUD/USD is trading quietly, just below the 0.71 line. It hasn't been a very good week on the Australian release front, raising concerns that the economy may be slowing down. Manufacturing and Services PMIs both slowed in May, while Construction Work...
AUD/USD has been belted in recent weeks as the USD bullied every major FX pair. The selling is overdone and into major support ahead of the FOMC meeting tonight. Yesterday the RBA raised rates by 0.25% to 0.35% and we have begun the rate hike cycle with the central bank refocused on inflation. We look for buy the rumour sell the fact USD selling tonight after...
After experiencing problems with Covid that disrupted business, of course, it would have an impact on people's purchasing power. Of course, during the recovery period from Covid, Australia was one of the countries that scored a trade balance surplus and retail sales continued to increase. Retail sales in Australia rose 1.6% for the third straight month, results in...
AUD – The Australian dollar rallied on Tuesday after the RBA raised rates by more than expected and signalled further moves ahead, leading investors to wager on a faster tightening in the coming months. The central bank announced a 25 basis point rate hike, taking the Cash Rate to 0.35%, versus consensus for a 15 basis point rate hike, which would have taken the...
It was another tough week for the Australian dollar, as AUD/USD fell 2.53%. In the European session, AUD/USD is trading quietly at 0.7046. The RBA will be in the spotlight, as it holds its policy meeting on Tuesday. This meeting is live, as it's unclear what policy makers have planned. There's little doubt that the RBA is poised to embark on a rate-hike cycle,...
Hey Traders, AUD is showing weakness as the RBA are ready to start hiking rates, this data is usually already priced into the market but it is the meeting minutes which indicate where we are heading into the future. Also expecting lower retail sales data later in the week. CHF is looking rather bullish, on the other hand with not much room for the Monetary...
The RBA sent a hawkish message to the markets, as the minutes from the April meeting provided a strong hint that a rate hike is coming sooner than had been expected. The minutes cited rising inflation and a tightening labor markets as developments that have "brought forward the likely timing of the first increase in interest rates". The last time the RBA raised...
AUD/USD has baffled trading breaking out of the years range to the topside last Tuesday after the RBA changed to a hawkish stance. AUD/USD rally was reversed sharply later in the week as US yields exploded and Oil eased back on Chinese lockdowns. Still market is expecting RBA to raise in June now so if the USD rally based on US Bond yields can stop or reverse...
FX:EURAUD The correction that occurred in the Australian currency was caused by a decrease in the trade balance in that country, causing corrections in several Australian currency pairs such as, AUD/USD , GBP/AUD , EUR/AUD and so on. Bearish potential still exists in the pair EUR/AUD Need to be careful, the rising inflation rate in Europe due to the turmoil of...
FX:GBPAUD The correction that occurred in the Australian currency was caused by a decrease in the trade balance in that country, causing corrections in several Australian currency pairs such as, AUD/USD, GBP/AUD, EUR/AUD and so on. Bearish potential still exists in the pair GBP/AUD
Overall, AUD/USD have been trending upwards. Following the RBA rate decision and statement, the AUD/USD rose significantly. The Reserve Bank of Australia rate decision to be released on Tuesday (5th April), indicated: - Unemployment rate to fall to below 4 per cent this year and to remain below 4 per cent next year. - Inflation has increased in Australia, but...
With rising inflation, the commodities linked currencies such as the AUD are set to keep appreciating in the near future! whereas on the other hand, the safehaven currencies such as the JPY and in this case the CHF, are all but set to drop in value in the coming months. This vast difference is based on the country's economic policies outlook. Here we are looking...
With weekly candle breaking out from the descending channel, the price is ready to target the next high at 0.75000. The price also formed good support at 0.70000 area with RSI indicating a bullish divergence! With that all said, it is advisable to wait for the price to retrace at the desired level and then execute a LONG trade. Trade can be invalidated if...
I anticipate the price move to the previous support level and form an expanding flat pattern in March. Price should emerge the same type of formation with the previous move to the support level.
📌 @ridethepig AU02Y Market Commentary 18.12.2020 This position which arises after the telegraphed breakout from the 10Y and thus creates space for the front end. A typical manoeuvre for the AU and NZ yields: The analysis of the starting position shows us that the control now exists on the bid; because we know that it is the path of least resistance, so the...
The Australian dollar is showing limited movement on Tuesday, after posting sharp gains at the start of the week. In the North American session, AUD/USD is trading at 0.7133, up 0.10% on the day. There are no tier-1 events out of Australia this week, but the data released this week is pointing upwards. The AIG Performance of Services Index for December and...