AUDUSD is retreating below the 50-period simple moving average (SMA) at 0.7290, after deflecting off the upper Bollinger band, currently encompassed in the resistance ceiling of 0.7324-0.7344. The advancing 100- and 200-period SMAs are promoting strength in the pair, while the 50-period SMA is transmitting a more neutral tone. The short-term oscillators mirror the recent weakening in the price. Strengthening negative momentum is displayed in the dipping of the RSI underneath its 50 mark and the declining stochastic %K line [..]
AUDUSD is dwindling from the ceiling of the range at 0.7344, after recent positive price action thrusted over the simple moving averages (SMAs) and the Ichimoku cloud. The flattening demeanour of the 50-day SMA and the blue Kijun-sen line appears to be aiding the short-term horizontal trajectory, while the rising 100-day SMA and gradual upturn in the 200-day SMA are promoting additional gains. The short-term oscillators reflect anaemic momentum, endorsing the consolidation in the pair. The MACD, in the positive [..]
Stocks mostly negative after disappointing US retail sales underline near-term risks Surge in US virus cases and fresh outbreaks in Japan, Australia unnerve markets Cautious tone unable to lift dollar as slump in Treasury yields weighs Kiwi outperforms again, pound is close behind amid hopes of a Brexit breakthrough Renewed growth jitters put brakes on vaccine rally The vaccine euphoria suffered a knockback after stalling retail sales numbers out of the United States yesterday highlighted the short-term challenges policymakers still [..]
Trump’s presidency opened several fronts of confrontation between the United States and other key global economic powers, instantly increasing volatility in the markets as traders love to trade. With Biden ready to pick up the torch now, questions are arising over whether he could raise the flag of peace and build stability. However, his recent political shift suggests that the “America first” nationalism may not be easily replaced, and some battles may not see a ceasefire soon. No majority, no control Without majority in the [..]
October’s employment report for Australia is likely to catch investors’ eyes on Thursday at 0030 GMT, along with preliminary retail sales figure on Friday at 0030 GMT. The governor of the Reserve Bank of Australia (RBA), Philip Lowe, has confirmed a major shift in Australia’s monetary policy by stating the central bank would now focus on employment rather than inflation. Nevertheless, the aussie continues to move higher against the US dollar but may soon need a boost for stronger bullish movements. [..]
Vaccine hopes keep risk assets supported even as more US states clamp down Dow closes in on 30,000 as growth-to-value rotation accelerates Dollar steadier, euro shrugs off EU budget crisis, pound holds out for Brexit deal Oil moderates ahead of OPEC+ meeting as bleak short-term outlook curbs advances Moderna adds to vaccine euphoria The fight against the pandemic took another major step forward on Monday after Moderna became the latest pharmaceutical company to announce a vaccine for COVID-19. Moderna’s vaccine, [..]
AUDUSD’s recent positive development appears to be struggling around the upper Bollinger band, whilst heavy resistance threatens overhead. That said, the simple moving averages (SMAs) are commanding a strong bullish tone backing further advances in the price. The short-term oscillators are communicating conflicting signals in directional momentum. The MACD is improving above its trigger and zero lines, while the RSI is rising in bullish territory. However, the stochastic oscillator has posted a bearish shift, promoting a pullback in price. If [..]
Week gets off to positive start as vaccine, strong recovery and Biden victory drive optimism Global stocks surge as S&P 500 sets fresh record high, dollar extends slide Pound holds steady as Brexit talks enter critical phase Markets buoyed by vaccine progress and upbeat Asian data Rapid progress in the race for a COVID-19 vaccine more than offset the deepening gloom of the present virus reality as the latest wave shows no sign of waning. Expectations that last week’s breakthrough [..]
After the US election and vaccine frenzy, economic data will move to the forefront in the coming week, with inflation and retail sales comprising the bulk of the releases. However, investors might be wrong to assume that the election and virus storms are over as Trump steps up his legal fight to overturn Joe Biden’s projected win and as several states in America head towards new lockdowns. If all that fails to produce enough drama, there is always Brexit waiting [..]
Markets quiet on Friday as latest bout of risk aversion fades Equities set to end week barely higher, yen and gold much lower Investors grappling with vaccine hopes vs rising infections White House reportedly stepping back from fiscal talks It’s a battle of narratives Global markets appear trapped between conflicting drivers, with rampant optimism for a vaccine painting a brighter picture for next year but surging infections and fading prospects of powerful fiscal stimulus keeping the animal spirits in check. [..]
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