AUDUSD

How the pandemic made China stronger – Special Report

Posted on January 12, 2021 at 4:45 pm GMT

The Covid-19 pandemic has stigmatized China as the birthplace of one of most awful diseases in modern history. But it is not all black for the second biggest economy in the world, although challenges remain, as its successful handling of the virus has likely marked another positive quarter in the end of 2020 at a time when new lockdown measures are prolonging growth agonies in the rest of the world. Covid-19, a national pride China’s Communist governing party had a tough year, receiving words [..]

Daily Market Comment – Fed officials talk tapering

Posted on January 12, 2021 at 9:16 am GMT

Dollar buoyed by rising US yields as Fed discusses QE tapering Stock markets suffer a rare pullback, dragged lower by big tech Sterling gets its feet under it as BoE Governor plays down negative rates Parade of Fed speakers today – normalization remarks crucial US growth expectations reflected in rising yields Fed remarks about a potential scaling back of the QE program eclipsed everything else in a rather quiet session on Monday, pushing US Treasury yields higher and helping the [..]

Daily Market Comment – Dollar and equities roar as Biden promises fresh stimulus

Posted on January 11, 2021 at 9:52 am GMT

President-elect Biden pledges new relief package worth ‘trillions’ Stocks hit new records, dollar comes back to life, gold purged Is the market now trading the ‘growth narrative’ instead of ‘reflation’? Reflation or growth trade? It matters for USD Hopes that the Biden administration will unleash a federal spending spree came to fruition late last week, after the incoming US President pledged a new relief package in the ‘trillions of dollars’ to revitalize the American economy. The details of this plan [..]

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Technical Analysis – AUDUSD bounces off 23.6% Fibo; bullish in medium term

Posted on January 11, 2021 at 9:45 am GMT

AUDUSD has rebounded on the 23.6% Fibonacci retracement level of the upward move from 0.7254 to 0.7820 at 0.7688 after the selling interest from the 22-month high of 0.7820. According to the technical indicators, the RSI is sloping up in the bearish zone, however, the MACD is hitting the zero level below its trigger line. Should the pair manage to strengthen its positive momentum, the next resistance could come around the 40-period simple moving average (SMA) at 0.7735 before resting [..]

Technical Analysis – AUDUSD extends uptrend to 34-month high

Posted on January 7, 2021 at 8:00 am GMT

AUDUSD has been in a strong bullish rally since March 2020, sending the price to a new 34-month high of 0.7827 on Wednesday.  The MACD oscillator is extending its upside move above its trigger line in the positive region, however, the RSI is turning south in the overbought area, suggesting a downside pullback in the price. An advance above the multi-month high of 0.7827 could send the pair towards the 0.7923 resistance, taken from the peak on March 2018. Clearing this region, the high from January [..]

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Technical Analysis – AUDUSD in recovery mode, but some caution grows

Posted on January 5, 2021 at 12:46 pm GMT

AUDUSD is recouping the short downfall from the new 32-month high of 0.7739 in the four-hour chart after creating a bullish doji around the 0.7654 support region. Despite the rebound, however, the red Tenka-sen line has yet to resume a positive slope, while the RSI seems to be easing momentum following the bounce on the 50 neutral mark. The MACD is also providing some cautious positive signals as the indicator has paused its decline, but at the same time seems [..]

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Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]

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Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 9:51 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]

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Daily Market Comment – Global markets set to end chaotic 2020 on optimistic note

Posted on December 31, 2020 at 9:22 am GMT

As a year of absolute chaos concludes, investors look ahead into a calmer 2021 Dollar nurses recent losses, stocks retreat a shade from record highs Aussie and kiwi capitalize on softer dollar and cheerful mood, power higher Gold approaches upper end of recent trading range as real yields drop Happy end to a wild year There is a feeling of sanguinity coursing through global markets as a year of absolute chaos finally draws to an end. Most stock markets suffered [..]

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Technical Analysis – AUDUSD bids goodbye to 2020 at fresh highs; retains bullish bias

Posted on December 31, 2020 at 8:58 am GMT

AUDUSD is on the top list of the best performing pairs for 2020 despite the unforeseen Covid-19 dramatic economic impact, rallying 9.76% on a yearly basis to a fresh 2 ½-year high of 0.7707 in the last trading session of the year. From a technical perspective, the short-term bias remains on the positive side as the price continues to build its uptrend comfortably above its upward-sloping simple moving averages (SMA) and the Ichimoku cloud. Moreover, the red Tenkan-sen line keeps [..]

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