Tag Archives: AUD/USD
Behavioral Finance: Daily Forex Outlook: Why didn’t the euro fall sooner?
EUR USD (1.2890) Surveys conducted among the Greek population since the election consistently show that at least 75 percent still want their country to stay in the eurozone. However, there are also several surveys that show that a considerable percentage of voters continue to support the left radicals who completely denounce the austerity programme and […]
FX Market Technical Research
EUR/USD The daily RSI is trading at oversold levels not seen since December which leads us to believe that EUR/USD will manage to heave itself back up towards the 61.8% Fibonacci retracement of this year’s advance at 1.2954 in the days ahead.
AUD/USD Analysis
AUD/USD remains weighed by risk off sentiment Monday, with the pair breaking parity this morning for the first time in five months. Signs of softness in the domestic economy are also weighing on the AUD/USD as the government enforces tight fiscal settings in order to return a budget surplus and as benign inflation clears the […]
Behavioral Finance: Daily Forex Outlook: The euro begins to reflect popular scepticism
EUR USD (1.2920) European Commission’s offer of a conditional delay of Spain’s 2013 deficit target if Madrid accepts new scrutiny about its plan to restructure banks and ensure more say in monitoring regional governments, reflects a compromising stance following the anti-austerity backlash that the eurozone elections produced.
Daily FX Technical Strategy: AUD/USD lift shaft
Up the escalator, down the lift shaft typically describes AUD/USD price action: downtrends tend to be short sharp brutal moves compared to uptrends. We highlight this behaviour because AUD/USD is on the cusp of throwing out several major bearish signals and the close tonight could very likely be a negative catalyst for long-term trend followers. […]
FX Market Technical Research
EUR/USD continues to trade below the 61.8% retracement of the move seen this year and remains under pressure. Corrective rebounds should remain tepid – daily technical indicators remain negative and our target remains the 1.2624 January low.
AUD/USD Analysis
AUD/USD has spent the majority of the Asian session in a fairly narrow $1.0044-$1.0083 range so far, with the pair currently trading $1.0064 down 18 pips from yesterday’s close of $1.0082.
China CPI remains below target – IP, retail sales to come
The first batch of today’s Chinese data held no surprises for the market. CPI came in as expected at +3.4 percent y/y, slightly lower than March’s 3.6 percent. This is the third month in a row it has held below the government’s annual target of 4 percent but food prices continue to rise with food […]
Behavioral Finance: Daily Forex Outlook: The euro aspires to a transfer union
EUR USD (1.2945) Fifty-seven percent of 1253 analysts and traders polled in a Bloomberg survey believe one country will exit eurozone by the end of the year. We reckon that more than anything else what the poll really implies is that in the absence of an explicit monetary transfer mechanism, the union is likely to […]
Daily FX Technical Strategy: Spanish woes impact euro
In the current environment of risk aversion, where global equity indices from the S&P 500 to the Shanghai Composite are correcting lower, our focus is drawn to Spain. The Spanish IBEX index is trading at levels not seen since 2009 and the 10-year benchmark yield is back above 6%. This has forced the spread against […]
FX Market Technical Research
EUR/USD has eroded the 61.8% retracement of the move seen this year so far at 1.2954 and dropped into 4 month lows. The resistance above 1.3081 is prolific and the 5 and 8 month downtrends at 1.3233/50 offer tough resistance for the market.
AUD/USD Analysis
AUD/USD has staged a moderate bounce Thursday after a surprisingly upbeat jobs data eased some expectations of deep cuts to interest rates. The April labour report surprised on the upside, with 15,500 new jobs added versus a consensus of -5,500.