Price action in the AUDUSD market has consistently fallen to lower supports. This started months ago when the pair’s price action hit and tested around the 0.6950 mark. This seems to have resulted from the sustained bullish sentiment in the US dollar since then. Currently, the pair has just rebounded upwards due to Australia’s better-than-expected…
The Australian Dollar appreciates following the domestic mixed labor market. Australia’s Employment Change rose by 35,600 in November, exceeding the previous 12,100 and the expected 25,000 readings. Traders still expect the Fed to proceed with a quarter-point rate cut in December following the latest US CPI report. The Australian Dollar (AUD) halts its two days…
The Australian Dollar holds losses as RBA Governor Bullock discussed the risks of rising inflation have eased. The RBA decided to hold the Official Cash Rate steady at 4.35% in its final policy meeting in December. The US Dollar continues to gain ground ahead of US Consumer Price Index data due on Wednesday. The Australian…
The Australian Dollar softens in Thursday’s Asian session. Slower-than-expected Australian Q3 GDP and heightened expectations of RBA’s dovish stance exert some selling pressure on the Aussie. The US weekly Initial Jobless Claims and Goods Trade Balance are due later on Thursday. The Australian Dollar (AUD) remains under selling pressure on Thursday. The disappointing Australian economic…
The AUDUSD market has been trading within a narrow price range for about 14 sessions. Yet, technical indicators aren’t showing much optimism. Despite the Friday session ending in the green, bearish effects were evident through some downward contractions. Key Price Levels: Resistance Levels: 0.6600, 0.6700, 0.6800 Support Levels: 0.6445, 0.6345, 0.6245 AUDUSD Bulls Encounter a…
Trump Tariffs Strategy: Big Stick Diplomacy? President elect Trump has not even taken office and he is already impacting markets, the latest being a threat to impose 25% tariffs on all products from Canada and Mexico, and an additional 10% levy on goods from China. This followed easing market concerns after Scott Bessent…
How to Trade the Current EURUSD Trend – Forex Forum November 20, 2024 /Posted byGVI Forex / 162 / Source…
AUD/USD trades with mild gains near 0.6460 in Monday’s early Asian session. Fed Chair Powell downplayed the need for aggressive rate cuts, citing economic strength. The hawkish RBA might cap the downside for the pair. The AUD/USD pair trades on a stronger note around 0.6460 during the early Asian session on Monday. However, the upside…
The Australian Dollar receives support from the hawkish comments from the RBA Governor Michele Bullock. Australia’s seasonally adjusted Unemployment Rate held steady at 4.1% in October for the third consecutive month. Traders are now shifting their focus to the US October Producer Price Index (PPI) data, set to be released on Thursday. The Australian Dollar…
The Australian Dollar loses ground amid concerns over potential tariffs on Chinese goods from US President-Elect Donald Trump. Australia’s Westpac Consumer Confidence index increased by 5.3% in November, reaching 94.6 points. Traders await the US Consumer Price Index data release on Wednesday for insights into future US policy. The Australian Dollar (AUD) extends its losses…