AUD/USD falls to a two-week low on Friday amid strong dollar-buying tracking. Risk aversion momentum puts additional bearish pressure on the risk sensitive Aussie. The bears are now waiting for a weakness below the monthly low before placing further bets. The pair AUD/USD extends its recent sharp rejection of the technically significant 200-day SMA and […]
Tag: AUDUSD
AUD/USD approaches 0.6900, with a mixed mood
AUD/USD posts minimal losses of almost 0.20% due to fragile market sentiment. US employment data, coupled with industrial production and retail sales, provide enough ammunition for a further Fed rate hike in September. The Australian employment report was softer than estimated, although the unemployment rate dipped to 3.4%. The AUD/USD parried some losses from Wednesday, […]
AUD/USD bounces away from the 50 DMA and rises to a fresh daily high beyond 0.6950
0AUD/USD rebounds from 1-week lows hit this Thursday. An unexpected drop in unemployment in Australia offers some support to the Aussie. A modest pullback in the dollar provides an additional boost amid a nice recovery in risk sentiment. The pair AUD/USD reverses an intraday drop to levels below 0.6900 and bounces back. The pair continues […]
Forex Today: The dollar remains firm awaiting housing data
This is what you need to know to trade today Thursday August 18: The Dollar Index ( DXY ) posted its highest daily close in three weeks on Wednesday and continued to rise during Asian trading hours on Thursday. As market sentiment remains cautious, the dollar continues to outperform its rivals. In the European session, […]
AUD/USD falls to one-week lows and trades below the 0.7000 zone
The AUD/USD has lost about 65 pips so far on Wednesday. The pair has opened the Asian session touching an intraday high at 0.7027, but has subsequently been losing ground to mark m7-day lows at 0.6964. The Australian dollar weakened after data released by the Australian Bureau of Statistics showed that the wage price index […]
China: PM urges local officials to strengthen pro-growth measures
Quoting the Chinese Premier Li Keqiangthe People’s Daily, the flagship newspaper of the Communist Party, reported that Li iUrged local officials in six key provinces representing around 40% of the country’s economy to step up pro-growth measures. Featured Statements The assembled officials must take the initiative to boost consumption and offer more fiscal support through […]
China closes its factories due to heat wave as weather and economic problems mount – Washington Post
The US daily Washington Post published an article on Tuesday, citing that Chinese authorities ordered factories to suspend production in several regions major manufacturing plants to preserve electricity as the country grapples with its worst heat wave in six decades. Featured Comments “The sichuan provincewhere more than 80 million people live,announced on Monday that factories […]
RBA Minutes: Ready for further tightening, but not on a pre-set path
The minutes of the monetary policy meeting in August Reserve Bank of Australia (RBA) showed that the “The council expects to take further steps in the process of normalizing monetary conditions in the coming months, but it is not on a pre-established path.“. Conclusions Members noted that inflation is expected to peak at the end […]
AUD/USD is now heading for 0.7170 – UOB
According to UOB Group currency strategists Quek Ser Leang and Peter Chia, the AUD/USD could go higher and visit the 0.7170 region in the short term. 24 hour outlook: “Last Friday, we highlighted that AUD was unlikely to advance further and we expected it to trade sideways within a range of 0.7060/0.7130. Our view on […]
China: Economic Recovery Momentum Slowed in July
Following the publication of activity figures for July, the National Bureau of Statistics of China (NBS) has published a statement, via Reuters, in which it expresses its opinion on the economy. Featured Headlines China’s economic recovery momentum slowed in July. The Chinese real estate sector is expected to stabilize gradually. The employment situation in China […]