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AUD/USD falters at the 200-day MA, ASX 200 eyes record high

AUD/USD rose for a seventh day yet left a prominent reversal candle at the 200-day EMA. Positive sentiment for the stock market could see the ASX 200 retest or even break to a new record high.

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February 22, 2024 04:43 PM
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AUD/JPY nears 17-month high, ASX 200 looks set to bounce: Asian Open

AUD/JPY has fast approached a pivotal level to hint that an eventual breakout could be on the cards, even if not immediately. The ASX 200 looks sets to bounce after positive earning from Nvidia lifted Wall Street futures after market hours.

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February 21, 2024 05:21 PM
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Gold rises on renewed Fed-cut bets, crude oil falters at resistance

Soft inflation figures from Canada and a poll of economists backing a June Fed cut sent gold higher on Wednesday, as traders refreshed their dovish bets. Crude oil has also faltered once more at a key resistance area.

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February 20, 2024 05:27 PM

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NZD, AUD take the lead in quiet trade but USD may not be done yet

NZD/USD and AUD/USD were the strongest pairs on Monday during quiet trade, but the USD shows the potential to bounce before a larger move lower, which could eventually allow AUD/USD to reach for 66c.

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February 19, 2024 05:12 PM
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USD/JPY forms bull flag above 150, Nasdaq ‘rebound’ tied to yields

The Nasdaq may have risen on Wednesday, but it appears driven by a pullback in yields. And if yields rally from a key level of support, it could propel USD/JPY higher and weigh on the Nasdaq.

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February 14, 2024 05:24 PM
Currency exchange rate board of multiple currencies

USD/JPY breaks 150 as bulls eye 152, AUD/USD seems on track for 64c

US inflation data was broadly higher than expected, which triggered well defined moves in favour of the US dollar and to the detriment of all else. Whilst USD/JPY and AUD/USD could retrace from their overextended moves seen on Tuesday, 152 and 64c seem like viable targets for them respectively.

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February 13, 2024 04:56 PM
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EUR/USD falters at 1.08 on CPI-eve, USD/JPY remains buoyant: Asian Open

EUR/USD snapped a 4-day winning Streak around a key resistance zone, and USD/JPY traded less than 50-pips from 150 ahead of a key YS CPI report.

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February 12, 2024 05:08 PM
Research

S&P 500 taps 5k record, ASX futures to extend bull-flag breakout?

The S&P 500 tapped 5k for the first time ever. But do traders have the appetite to extend its trend heading into the weekend? For now, our focus is on a bull flag pattern on the ASX 1-hour chart.

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February 8, 2024 05:16 PM
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S&P 500 hits record high, futures hint at break above 5,000

The S&P 500 reached a fresh record high and stopped just 5 points short of the 5,000 milestone thanks to strong earnings. But futures charts and market positioning suggest the S&P cash market could break higher.

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February 7, 2024 05:38 PM
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AUD/USD firms post RBA, ASX 200 eyes on China for sentiment

The RBA held their cash rate at 4.35% for a third meeting but decided not to remove their slight tightening bias from the statement, warning that “a further increase in interest rates cannot be ruled out”.

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February 6, 2024 05:37 PM
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USD extends its lead on hot ISM report, RBA up next for AUD, ASX traders

An inflationary ISM report saw bets of multiple Fed cuts reduced to send the US dollar index to an 11-week high. If the RBA come out with a dovish meeting today, AUD/USD could be headed for 64c.

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February 5, 2024 05:19 PM
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USD/JPY bulls eye 152, AUD/USD bears eye 64c: Asian Open

A surprisingly strong NFP report on Friday saw the US dollar rally against all FX major, which brings 152 in focus for USD/JPY bulls and 64c for AUD/USD bears.

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February 4, 2024 05:33 PM
Currency exchange rate board of multiple currencies

EUR/USD holds key support ahead of NFP, US dollar on the ropes

The US dollar was lower across the board after traders digested the latest Fed meeting and are now focusing on four cuts this year, beginning in May. EUR/USD is just one of several pairs to form engulfing days against the US dollar.

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February 1, 2024 05:27 PM
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US dollar rallies, S&P 500, Dow Jones and Nasdaq tumble post FOMC

The Fed held rates and ruled out a March cut, which saw the S&P 500 suffer its worst day since September, the Nasdaq 100 falling around -1.8% and the Dow Jones form a bearish outside day at its record high. USD/JPY still looks good for a run to 150 to my technical eyes.

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January 31, 2024 05:13 PM

AUD/USD, ASX 200 caught in the crossfire of AU CPI and FOMC: Asian Open

Today’s Australian CPI report could be the difference between markets bringing forward expectations of an RBA cut or repricing a hike. And with an FOMC meeting looming, AUD/USD and the ASX 200 could be facing a bout of volatility.

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January 30, 2024 04:50 PM
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Gold futures hint at bullish reversal, ASX futures rise for eighth day

A double bottom pattern has formed on gold futures above $2000 to hint at a bullish reversal. We also note that the ASX 200 futures market rallied for an eight consecutive day, but does it have enough fuel in the tank to break above its YTD high?

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January 29, 2024 05:25 PM
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USD/JPY holds ground heading into FOMC, breakout pending? Asian Open

Looking across the FX major pairs, USD/JPY appears to have the best odds of a breakout sooner than later, given its strong rally from the December.

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January 28, 2024 05:31 PM

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US dollar bulls resurface, ASX 200 tests well for today: Asian Open

The US dollar shows the potential to continue higher despite a wall of key moving averages. And according to forward returns analysis, the two days prior to Australia Day tend to bode well for the ASX 200.

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January 23, 2024 05:25 PM
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AUD/USD bears return, USD/JPY in focus for BOJ: Asian Open

Commodity currencies hint towards a risk off tone, with NZD/USD leading the way lower and AUD/USD looking set to follow. USD/JPY is also in focus for today's BOJ meeting.

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January 22, 2024 05:21 PM
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Crude oil, ASX 200 look ripe for a bounce: Asian Open

An averted government shutdown, AI optimism and firmer economic data helped push Wall Street higher which could benefit the ASX 200 today, and oil also perked up on upwardly revised demand outlooks.

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January 18, 2024 04:56 PM

AUD/USD suffers its worst 3-day run, Ominous day for the Nikkei: Asian Open

Appetite remained sour on Wednesday, and that has been a clear drag on AUD/USD ahead of today’s employment report.

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January 17, 2024 05:26 PM
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AUD/USD probes trend support ahead of Waller speech: Asian Open

AUD/USD has pulled back into a key zone of support ahead of what could become a very binary Fed speech from Waller.

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January 15, 2024 05:22 PM
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AUD/USD, NZD/USD remains supported despite hot US CPI: Asian Open

The US dollar failed to dominate the FX space despite stronger-than-expected inflation data. And with AUD/USD and NZD/USD holding key support levels, we see the potential for a move higher over the near-term unless the wheels fall off sentiment.

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January 11, 2024 05:33 PM