AUD/USD news - page 29

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Australia - ANZ Roy Morgan weekly consumer sentiment: 115.6 (prior 110.0)

Australia data - ANZ Roy Morgan weekly consumer sentimentTo 115.6, a big jump on the previous week

Highest in more than 12 months

ANZ say

  • The gains were broadly based
  • Consumers views towards whether 'now is a good time to buy a major household item' was up modestly (0.6%) but this sub-index has been falling in recent weeks, and is now 5% below its long run average, consistent with signs of an easing in the housing market
  • Turnbull government a factor in boost in confidence
  • "To sustain confidence at this level, however, the government needs to present a clear economic story to the country. This is necessary in the current economic environment, where there are numerous headwinds to sentiment and economic activity including soft wages growth, weak investment and an easing outlook for the housing sector."
 

Good bullish trend on the AUDUSD, the next 0.7400 level may be a resistance, but a correction may be coming soon.

 

AUD/USD Technical Outlook: Extreme Conditions Prevail, Decline More Likely

The Australian dollar rose for nine consecutive days, which of course meant a correction was due, and this duly materialized on Tuesday. The pair was seen 1% lower during the London session and briefly dipping below the $0.73 mark. On the daily chart, the RSI has gotten into the overbought territory above the resistance of 70, while the stochastics is in the middle of its respective zone and the MACD recently turned positive.

The four-hour chart has been overbought for quite some time and all three indicators have been at extreme conditions. The RSI already made a bearish signal, when it dropped back below 70, with the MACD quickly fading toward zero and the stochs remains above 80, but the lines in the indicator already crossed.

Therefore a possible further correction is likely, mainly due to overbought conditions. Traders should target $0.72 from this time frame, which is nearly a one figure potential for bears. As long as technical oscillators remain heavily overbought, the pair is expected to consolidate and/or to decline somewhat.

The shorter term time frame is, on the other hand, in oversold territory, mainly due to the latest correction. The RSI is hovering around 30, but the stochastics oscillators is below 20 and might make a bullish signal soon. The MACD turned bearish recently, but did not help the price to move lower.

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fxstrategist:
Good bullish trend on the AUDUSD, the next 0.7400 level may be a resistance, but a correction may be coming soon.

The correction already started it seems, the pair is likely headed for 0.7230.

 

Australia-Westpac hikes home loan interest rate

Westpac has announced it will raise home loan rates by 0.2%

  • Effective November 20

    • This is part of its move to meet new requirements for banks to hold more capital against mortgages (as per the banking regulator, the Australian Prudential Regulatory Authority, new measures)

  • WPAC will also raise $3.5 billion through a share entitlement offer in order to boost its capital reserves
  • Other Australian banks have already raised capital and increased rates for property investors
 

there have some problem. this post was good.

 

AUD/USD: Aussie Erases Gains as RBA Minutes Loom The AUD/USD cross was seen flat on Monday afternoon, as the aussie gave up its earlier gains reached during the European trading session. Moreover, the buck received some data support in form of the NAHB index leaping to the highest level in a decade.

Therefore, the aussie's recent rebound from the six-year bottom, seen in September, lost its strong bullish momentum once the aussie pushed the pair to the two-month top at 0.7385, reached on October 12.

''The recent AUD rally looks more like a positioning squeeze than a shift in fundamentals. While this was triggered by expectations of a slower acting Fed, we expect weak fundamentals will once again dominate AUD price action,'' ANZ Research analyst Justin Fabo mentioned.

"Near term triggers for an AUD reversal are hard to identify, but we are approaching levels which look attractive for entering medium term bearish positions,'' he added.

On Monday, the aussie inched down 0.01% to $0.7261, falling from an intraday high of $0.7307.

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AUD/USD forecast for the week of October 26, 2015 The AUD/USD pair fell slightly during the course of the week as we continue to meander around the 0.72 level. With that being the case, the market looks as if we are essentially just bouncing around in this general vicinity. Ultimately, we think that the market has quite a bit of support below, but it also has a significant amount of resistance above. Quite frankly, longer-term traders will have a hard time trading this particular market as the risk to reward ratio just is not pair at the moment.

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I think it started the bearish trend.

 

Australia Preview: Steady Inflation to Keep RBA Happy on Price Front While headline inflation has been steadily waning in Australia over the last year, adjusted price measures have held safely within the Reserve Bank of Australia's (RBA) target range for several years now, giving the central bank little scope to ease monetary policy based on inflation alone.

Analysts expect to see the CPI rising at a steady pace of 0.7% in the September quarter and the headline inflation figure accelerating from 1.5% year-on-year in the second quarter to 1.7% last quarter.

The RBA has an annual inflation target range of 2-3%, but it prefers to use adjusted measures - such as the CPI (excluding volatile items) and the trimmed mean CPI - when setting monetary policy.

On that basis, the RBA has had few concerns about inflation over the last few years, with the CPI (excluding volatile items) holding within the bank's range since the June 2012 quarter, and the trimmed mean CPI remaining within target since the March 2010 quarter.

The central bank's most recent economic forecasts have inflation remaining within target over the next two-and-a-half years, the bank's entire forecast period.

One of the key reasons why inflation was contained in recent years, according to the RBA, has been the amount of spare capacity in the economy.

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