The People’s Bank of China, the Chinese central bank, said in a statement released on Thursday that they will stick with a supportive monetary stance.” Additional takeaways Will step up counter-cyclical adjustments. Will strengthen financial support to the real economy. Will study new policy measures, strengthen coordination and cooperation of macro policies. Will support the…
With the market eyeing the Fed’s rate cut in the coming month, the US dollar continues to show weakness. Meanwhile, the AUDUSD has capitalized on this, printing significant profits. At this point, the pair has surpassed the highs last seen in July while maintaining bullish potential. Key Price Levels:Resistance Levels: 0.6800, 0.6900, 0.7000 Support Levels: 0.6700,…
Weekly FX Charts Update I don’t remember a time when all the key currencies were focused on pivotal levels, which will dictate respective tones going forward. EURUSD Monthly Chart – Pivotal: 1.12 BULLISH 1,12 is one of those pivotal levels, not only guarding key daily resistance at 1.1237 but the 2023…
Newsquawk Week Ahead 26th – 28th August Newsquawk.com Week Ahead 26th-30th August 2024: Highlights include US PCE, UoM, Global CPI’s, and NVDA earnings MON: UK Market Holiday (Bank Holiday), German Ifo (Aug) TUE: CBRT Minutes, Chinese Industrial Profit (Jul), German GfK Consumer Sentiment (Sep) WED: Australian CPI (Jul), Nvidia (NVDA) Earnings (Q2) THU:…
AUD/USD experienced a drop, adjusting to 0.6950, because of a USD recovery. Strong Australian PMIs might limit the pair’s downside. The persistent hawkish views of the RBA keep backing the Aussie versus its peers. On Thursday, the AUD/USD is seeing a moderate decline, retracing some of the gains after the approximately 2% rally from the…
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AUD/USD shows an increase, climbing to 0.6950. RBA’s Bullock was on the wires and maintained its hawkish stance. A weaker USD also benefited the Aussie. The AUD/USD pair experienced an increase of 0.40% during Friday’s session, settling near 0.6950. Mixed sentiment data from the United States combined with the words of Reserve Bank of Australia’s…
Weekly Charts Analysis USDJPY DAILY CHART – Time to take a breather? USDJPY pattern is 5 down weeks in a row. To break this pattern, 147.90 would need to be broken. Otherwise, there could be an inside week. On the downside, if I was the BoJ, I would look to defend the 141.68 low.Current consolidation…
AUD/USD slightly retreats, settling near 0.6575 on Friday. RBA reiterates its hawkish stance, contributing to a buoyant AUD. Investors digest Chinese inflation reported during the European session. The AUD/USD pair witnessed a minor setback at 0.6575 during Friday’s session, a modest descent of 0.30%. That being said, the Reserve Bank of Australia’s (RBA) unwavering hawkish…
Australian Dollar has suffered extended declines in recent sessions as RBA gains slowly fade. PMI figures from Australia reveal weaker-than-expected data. Fragility in the Australian economy seems to be driving demand off the Aussie. In Friday’s session, the Australian Dollar (AUD) intensified its losses against its peers. The AUD/USD duo has been testing its notable…