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AUD/USD, EUR/AUD: Elevated China pessimism becomes Aussie dollar bullish
AUD/USD has been given every opportunity to continue spiraling lower recently and hasn’t. Perhaps there's a message in that?
Gold, EUR/AUD analysis: Asian Open – 05/09/2023
Outside of China's equity markets, ranges were limited on Monday due to the long Labor Day weekend in the US. But with economic data picking up and volumes likely to be replenished, hopefully volatility will follow. We take a look at a couple of potential setups on the gold and EUR/AUD daily charts.
Australia's softer inflation could see the RBA hold rates next week
AUD pairs are broadly lower as inflation falls to 6.8% y/y (7.1% expected), bolstering expectations that the RBA will hold rates at their April meeting.
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European Open: Cautious trade to start the week, EUR/AUD in focus
It has been a quiet session overnight, as traders wait to see how Europe reacts to the weekend’s headlines.
Hawkish ECB causes EUR/AUD to breakout
With a double bottom target and a flag target above, EUR/AUD still has some work to do.
Australian business sentiment stalls, consumer sentiment falls
Business confidence came to a standstill according to a monthly NAB (National Australian Bank) survey, whilst consumer confidence is its lowest since the pandemic.
EUR/AUD could trade above 1.6500!
EUR/AUD has been moving higher on the back of interest rate differentials. Will it continue if the ECB hikes 75bps next week and the RBA only hikes 25bps the week after?
EUR/AUD could trade above 1.6500!
EUR/AUD has been moving higher on the back of interest rate differentials. Will it continue if the ECB hikes 75bps next week and the RBA only hikes 25bps the week after?
Additional China stimulus helps stimulate the Aussie
Earlier today, China announced 19 additional policies to help the economy, worth $146 billion. These policies will primarily support infrastructure projects.
Will EUR/AUD continue to break lower?
The key question for EUR/AUD is, “Will the ECB be more hawkish than the RBA?”
European Open: EUR/AUD looks week ahead of German PPI
A strong employment report for Australia has sent AUD to top of the class overnight, weighing on EUR/AUD ahead of PPI data for Germany at 07:00 BST.
Asian Open: Tech stocks lead Wall Street lower, 4-day rally on EUR/AUD
Pending inflation data for the US weighed on Wall Street overnight, seeing technology stocks lead the broader market lower.
Asian Open: US inflation hits 40-year high, EUR/AUD reverts to trend
Hot inflation and lack of progress over ceasefire talks drove sentiment, sending Wall Street slightly lower, with US dollar and commodity FX higher.
EUR/AUD and EUR/NZD trying to hammer out a bottom
With many commodities such as oil, gold, and wheat soaring, commodity currencies have gone along for the ride.
Asian Open: USD lower post FOMC minutes, bearish triangle on EUR/AUD
The minutes didn’t seem to live up to imminently hawkish expectations, sending the US dollar broadly lower overnight and supporting AUD.
Asian Open: Wall Street rebounds after shaky start
Rising yields had weighed on sentiment (and most notably tech stocks) before a later afternoon rally erased earlier losses.
European Open: Equities bounce on Omicron fatigue
There’s only so much misery traders can take, and that appears to be 3-day given how futures markets and Asian indices are all higher overnight.
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European Open: Markets steady ahead of FOMC, calm before the storm?
Expectations are for the fed to announce a faster speed of taper, so perhaps the more volatile reaction could be if they underwhelm relative to expectations.
Asian Open: Are ink prices too high for the Fed’s printer?
Jerome Powell jolted global markets by conceding that inflation is not actually transitory, and that the Fed will discuss a faster pace of tapering.
EUR/AUD Reverses at Bearish Target. What Now?
Shorting EUR/AUD has been one of the better performers in recent weeks for bearish traders. Yet yesterday’s rally (its best in 4-months) should serve as a warning.
EUR/AUD poised to breakout amidst next week’s AU CPI and ECB meeting
Notwithstanding President Trump’s daily twitter condemnations (trade partners and the Federal Reserve drew his ire this morning), traders have started to look ahead to next week’s trade.
Lacklustre start to week full of data earnings and CB meetings
At the start of a week full of US earnings, important economic data and a couple of central bank meetings, risk is somewhat off the menu. Equities, copper and, to a lesser degree, oil prices were all trading lower at the time of this writing. In FX, the major pairs had made little progress and were trading mixed with the Aussie and Loonie, for example, being lower and Kiwi higher. Meanwhile the euro was attempting to climb back above 1.10 against the US dollar after dipping to a new multi-month low of 1.0965 overnight
EUR/AUD: breakdown imminent?
Below we have a daily chart of the EUR/AUD. Similar to the EUR/USD, consolidation is the name of the game. But within the consolidation, it looks like a new trend is emerging, at least for the EUR/AUD anyway. There are lots of factors to observe in this chart.