AUD/USD news - page 33
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
AUD/USD: Aussie Keeps Employment-Triggered Gains The AUD/USD climbed on Thursday, as the aussie found support in strong labor market data.
The Australian dollar advanced 0.89% to $0.7294 against the greenback, after hitting an intraday high of $0.7310.
The pair initially surged on unexpectedly strong Australian labor market data. However, the upside potential for the aussie was estimated to be limited due to the ongoing collapse in the commodity sector.
Australia's labor market unexpectedly strengthened in November, as the economy added a net 71,400 jobs, which pushed the jobless rate down to 5.8%, the lowest level in one-and-a-half years. A sharp depreciation of the exchange rate and earlier policy easing by the Reserve Bank of Australia (RBA) has helped to support the labor-intensive service sector, partly explaining the unexpected strength in labor demand.
Meanwhile, the greenback remains broadly supported ahead of the Federal Reserve (Fed) meeting on December 16 amid increased rate hike bets.
"The runway has been cleared for the liftoff in rates next week, and with near unanimity among professional forecasters and the market pricing in above-80% odds of a hike, the focus will be less on what the Fed does and more on what they say about the future path of rates. The consensus expectations appears to be for the Fed to deliver a dovish hike. However, we see limited scope for the Fed to deliver on this," Millan Mulraine, deputy chief economist at TD Securities, said in a note.
read more
AUD: Diving Into The Housing Market; Where To Target? - Credit Suisse Australia’s housing market has been one of the country's few bright spots in recent years, providing a much needed offset to the falling terms of trade and soggy mining sector, notes Credit Suisse.
"However, the APRA’s macro-prudential measures have contributed to a tightening in lending conditions and residential auction clearance rates have started to move lower.
We estimate that the decline in clearance rates could start to weigh on house prices in the coming quarter and measures of growth and employment in 3-4 quarters.
Having contributed materially to growth and inflation in recent years, a slowdown in the housing sector would keep the RBA biased for additional easing in the months to come," CS argues.
"We remain structurally bearish AUDUSD and maintain our forecast set at 0.69 in 3 months and 0.66 in 12 months," CS projects.
read more
AUD/USD forecast for the week of December 14, 2015 The AUD/USD pair fell significantly during the course of the week, testing significant support near the 0.72 level. Ultimately, this is a market that looks like it will continue to be fairly volatile, and as a result it’s going to be difficult to trade this market from a longer-term perspective, so having said that we believe that you will have to look to short-term charts in order to start going into the market again. At this point in time though, we will continue to pay attention to longer-term chart simply to see if there’s any hint of a trend change.
AUD/USD forecast for the week of December 21, 2015 The AUD/USD pair went back and forth during the course of the week, ultimately forming a very neutral candle. With that being said, we do not believe in trading the Australian dollar from the longer-term perspective at this point, and recognize that we will probably have to use daily charts and perhaps even shorter time frame charts than that the place trades. All things being equal though, we believe that the downtrend is still predominant in this market, so we are looking for selling opportunities at this point in time.
Price is out of channel now.
AUDUSD is currently moving higher against the steady greenback. As the traders have digested the rate hike decision of FED, traders are closing their long positions in USD giving its rivals like Aussie to move high. Although Australian Dollar is showing some strength in this Christmas week, its upside will be restricted to 0.7300. This pair is trading in a channel as shown in the chart, which if breaks out on the upside the resistance will be placed at 0.7500 while if it goes below major support will be 0.6900.
AUD/USD: Aussie Confirms Bullish Momentum, Tests Strong Resistance The Australian dollar was pushing higher on Thursday and the AUD/USD pair was trading around $0.7280 during the London session, although the holiday session was in full swing, meaning only electronic trading was live.
The aussie was supported by industrial commodities, which were seen gaining on Thursday and the greenback was suffering from its recent downfall, which started this week.
In the previous session US durable goods orders for November markedly deteriorated from 2.9% to 0.0%, while the ex transport gauge also slowed down to -0.1% from 0.5% previously. In addition, personal income in November decreased from 0.4% to 0.3% and personal spending ticked higher from 0.0% to 0.3%.
Moreover, new home sales for November improved from a downwardly revised 470,000 to 490,000, although they missed expectations of a 505,000 print. The data failed to spur any volatility and the aussie was trading muted against the greenback.
AUD/USD forecast for the week of December 28, 2015 The AUD/USD pair broke higher during the course of the week, but remains within the ascending triangle that we’ve been in for some time. Because of this, we are not ready to place a trade quite yet, but if we can break above the 0.74 level, we feel that the market will have broken out at that point. On the other hand, if we get some type of resistive candle, we would be willing to sell in that area also. We are going to have to wait until we get some type signal.
source
my view on this pair, is it will go up for the next two - three months . Nowadays more than EU, AU is good for intraday trading.
AUD/USD: Bulls In Control Markets are off to a relatively quiet trading start to the historically low-volatility week between Christmas and New Year’s. As of writing, European equities are trading down slightly (with the exception of the UK’s FTSE 100 index, which is holding on to negligible gains), the dollar is essentially flat and major commodities including gold and oil are falling once again.
Against this backdrop, the AUD/USD’s flat start to the week is relatively impressive. The Aussie traded higher every single day last week after finding support at its rising bullish trend line, keeping the cautiously optimistic outlook for 2016 in play. Meanwhile, both the MACD and RSI indicators remain in bullish territory, bolstering the case for further gains as we flip our calendars to 2016.
Not surprisingly, there are few major economic data releases scheduled but there are a few reports to keep an eye on. Out of the US, traders will look forward to tomorrow’s Consumer Confidence report, which will cover the critical holiday shopping period, along with Wednesday’s November Pending Home Sales report and Thursday’s release of initial unemployment claims and Chicago PMI. While the economic calendar is completely barren Down Under, Thursday’s PMI reports out of China will shed some light on how Australia’s largest trading partner is doing and could therefore have a notable impact on AUD/USD.
read more