AUD/USD Downbeat in the Aftermath of RBA’s Hold, Awaits US NFPs
The pair dropped on Tuesday after Australia’s central bank paused its rate-hike cycle and remains downbeat amidst broader risk aversion, ahead of the US jobs report
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The pair dropped on Tuesday after Australia’s central bank paused its rate-hike cycle and remains downbeat amidst broader risk aversion, ahead of the US jobs report
The USDOLLAR daily chart is trading in its bearish channel between it lower blue and red bands. Its RSI is trading below 50. The longer it maintains on the bearish side of 50, the more pressure will be applied to the greenback. Data out this week has pointed to an economic softening.
The central bank of New Zealand stayed the course with another 50 basis points rate hike, against baseline expectations for a smaller move, boosting the Kiwi
Watch today’s US Open for commentary on OPEC’s surprise oil production cuts that sent prices higher, the pause in the tightening cycle by the Reserve Bank of Australia and more
FXCM’s USDOLLAR basket appears to be charting a head and shoulders top. This pattern is a reversal in trend from uptrend to downtrend. The pattern is yet to complete, and we note the pattern completion gap i.e., the price to neckline gap. However, the weekly RSI is below 50 (green rectangle), which suggests a bearish momentum is present. The longer the indicator maintains below 50, the more pressure will be…
The central bank of Australia decided today to leave rates unchanged at 3.6%, following ten straight hikes since the May 2021 lift-off, putting AUD/USD under pressure
The pair runs another profitable week, supported by the recent ECB-Fed policy divergence, but trades with caution today as inflation figures and other data loom
The pair pauses its four week-losing streak and rebounds from the recent slump, as fears over the banking sector ease
Watch today’s US Open for insights on the recent developments in the banking sector that seem to help sentiment, fresh geopolitical tensions and more
The pair is constructive after the US Fed was constrained to a conservative stance last week due to the banking turmoil and the BoE was forced to another increase due to the reacceleration in inflationary pressures
Watch today’s US Open for discussion on the Fed’s hike and conservative stance due to the banking turmoil, as well today’s policy decision by the Bank of England
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