AUD/USD Upbeat After Friday’s Risk-Off Drop
The pair plunged on Friday after news of a new concerning Covid-19 variant, which sparked a risk-off wave, but today it covers some of the losses
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The pair plunged on Friday after news of a new concerning Covid-19 variant, which sparked a risk-off wave, but today it covers some of the losses
News of the new Covid-19 variant on Friday harmed the greenback, as they casted doubt over the Fed’s tightening path and allowed the pair to stage a solid recovery, but today it is on the back foot
During this eventful week, we saw high Fed activity, a data dump from the US before the Thanksgiving holiday, quarterly results from high profile companies and intense risk aversion in the last trading day due to new Covid variant
Past Performance: Past Performance is not an indicator of future results. The left chart shows the USDOLLAR daily. Its price is in the bullish area, between the upper blue and upper red bands. The right side shows the H1 scale. The greenback has pulled back today. The reaction has been volatile, with the USDOLLAR retracing to the S3 pivot. The reaction is the market reprincing the ability of the Fed…
Risk-off mood dominates markets today, but the US Dollar fails to benefit, allowing the pair to push higher, reacting from Wednesday’s 2021 lows
Risk aversion was prevalent is the Asia-Pacific session, after WHO warned yesterday about a new COVID-19 variant, with the Japanese Yen emerging as the main beneficiary
Various members of the US central bank have been making hawkish remarks lately, fueling the Dollar’s advance, while yesterday’s minutes form the last policy decision were also on the hawkish side
The Primary Trend The EURUSD monthly below (chart 1) has charted a lower peak followed by a lower trough - the classical definition of a downtrend. Due to the longer time scale, the primary trend for EURUSD is down. Until there is a change in the pair's primary trend, impulse moves down will be stronger than corrective moves up on the lower time frames. The stochastic is heading towards the…
The pair has entered its fourth losing week and extends its losses today, despite some containment of the US Dollar’s strength
The pair has clearly been having a very bad month, with Fed/ECB monetary policy divergence being a key driver, registering today new 2021 lows
The pair rose to its highest levels since March 2017 during the Asia-Pacific session, but has since declined, weighed by the slide in US Bond Yields
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