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Thumping AU jobs report supports further gains for AUDNZD
Good news today for the Australian economy as the employment report for June stunned with across-the-board strength.
AUD traders ‘sold the fact’ as RBA hiked by 50-bps as expected
The Australian dollar was promptly sold off on the confirmation that the RBA hikes rates by 50-bps, as traders seemingly bought the rumour and sold the fact.
The RBA opt for a nifty 50, USD/JPY breaks 132
The RBA didn’t hold back and opted for a 50-bps hike at today’s meeting, which is a first since February 2000.
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Futures traders load up on AUD longs (despite falling prices)
With prices falling whilst futures traders increase their bullish exposure to the Australian dollar, we’re keen to see if it can hold above 0.73 and form a countertrend bounce.
Weekly COT report: Fastest pace of AUD short covering since March 2020
Last week, AUD shorts were culled at their fastest pace since March 2020, when eye watering levels of stimulus was rolled out at their height of the pandemic.
Weekly COT report: Managed funds most bullish on gold in 3-months
Bullish exposure continues to fall for the US dollar despite the Fed on the cusp of beginning their rate-hike cycle.
Weekly COT report: Net-long exposure to gold fell sharply last week
Given the lacklustre bounce on gold alongside a rise in short bets and closure of longs last week, we retain the view that its recent bounce is corrective.
Asian Open: Flash PMI’s in focus, AUD probes trend support
Flash PMI data is released across Asia, Europe and the US. And on the back of last week’s risk-off week then markets may be more sensitive to soft data should it disappoint.
Weekly COT Report: Bearish exposure to AUD hits a new record
AT -91.5k contracts net-short, it is the most aggressively bearish exposure on AUD futures by large speculators on record.
AU Q3 GDP beat boosts the AUDUSD
Australian Q3 GDP fell by -1.9%, significantly beating market expectations for a -2.7% fall. The fall is the first quarter of negative growth since the 6.8% fall recorded in the June Quarter of 2020 and means the Australian economy is once again smaller than where it was pre the onset of the pandemic.
Weekly COT Report: Pound Shorts Intensify
Traders were their most bearish on British pound futures in 17-months, according to last week’s commitment of traders report.
Asian Open: Fed Chair Announcement Pushed Back
Whilst Joe Biden did not announce his decision for the Fed Chair “within four days”, a Whitehouse spokesman says it will be announced before Thanksgiving on Thursday.
Weekly COT Report: AUD Bears Capitulate
A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators.
RBA rebuke takes heat out of the AUDUSD rally
The release yesterday of the RBA meeting minutes for the October board meeting provided little in the way of new information.
AUDUSD reclaims all ground lost in September - What comes next?
U.S. stock markets closed higher overnight after lawmakers reached an agreement to extend the debt ceiling until December.
RBA taper creates turbulence for AUDUSD
As widely expected, at its monthly board meeting this afternoon, the RBA kept monetary policy on hold, including its targets of 10 basis points for the cash rate and the yield on the April 2024 Australian Government bond.
AU GDP beat fails to boost AUDUSD
A reprieve for the Australian economy today as Q2 GDP beat expectations as strength in household and government spending outweighed a drop in export volumes and a run down in inventories.
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Currency pair of the week: AUD/USD testing resistance ahead of key data releases
With major economic data releases out of both the US and Australia, FX traders will be keying in on AUD/USD as arguably the most important currency pair to watch this week...
AU jobs beat unable to boost friendless AUDUSD
The Reserve Bank of Australia has consistently maintained it will not raise the cash rate away from its 0.10% emergency setting until inflation is sustainably between two and three percent.
Delta hinders plans for RBA to taper and highlights fragility of RBNZ tightening cycle
In another volatile session in Asia as the spread of delta variant intensifies across the region, the minutes from the RBA's August meeting outlined what might cause the RBA to reconsider its decision to taper its QE program.
How the Russell 2000 brushed off events in China to set up a period of outperformance
The last day of the trading month is upon us, finishing off a busy week that included earnings from “Big Tech” stocks, important US economic updates, and a stomach-churning ~10% fall in Chinese stock indices.
RBA back in the same boat as the FOMC, despite higher inflation
The RBA will be less concerned with inflation and more concerned with monetary stimulus
A tale of two metals, gold and copper
Six weeks have passed since the Feds hawkish shift at the June FOMC meeting that sent key metal prices spiralling lower. Copper has since recovered all of its lost ground and much more, while gold is trading -3.5% below its pre FOMC levels. In this article, we examine what comes next for gold and copper.