|Day's range||0.723 - 0.728|
|52-week range||0.7022 - 0.8136|
Investing.com - The dollar pared back earlier gains on Wednesday after inflation data supported the Federal Reserve increasing rates at a gradual pace.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.27% to 96.88 as of 11:15 AM ET (16:15 GMT).Data on Wednesday showed that the annual core consumer price index (CPI) rose 2.1%, which was less than expected.Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. ...
The Australian dollar fell a bit during the trading session on Wednesday but found buyers underneath to turn around and reach towards the 0.7250 level yet again.
While pullbacks from 0.7235-40 indicate the AUDUSD’s dip to re-test fortnight old ascending TL, at 0.7180 now, it’s further declines are less likely as not only upward slanting support-line but the 0.7165-60 area also stands ready to challenge the sellers. As a result, chances of the pair’s U-turn to 0.7265 on the break of 0.7240 are much brighter while 0.7300-0.7305 could confine the quote’s upside then after. If at all the pair rises past-0.7305, the 61.8% FE level of 0.7340 may flash on the chart. On the contrary, pair’s slide beneath 0.7160 can recall the 0. ...
The British pound was extremely volatile, and influential on broader currency moves against the greenback. Australia's October jobs report will be released today. The economic calendar elsewhere is also busy, especially in Europe and the United States.
The AUD/USD and NZD/USD should continue to be underpinned as long as investors remain optimistic over the developments over US-China trade relations. Technical factors could slow down the rally because both Forex pairs are nearing potential resistance areas. A risk-off scenario because of heightened stock market volatility, or turmoil in Europe is likely to drive investors into the safe-haven U.S. Dollar, which could put pressure on the AUD/USD and the NZD/USD.
Based on this week’s price action, the direction of the AUD/USD the rest of the week is likely to be determined by trader reaction to the downtrending Gann angle at .7217.
While inflation figures out of the UK and U.S and 3rd quarter GDP numbers out of Germany will be in Focus, it could all come down to Brexit and Italy.
The Australian dollar bounced a bit during the day on Tuesday, but still remains well below the recent highs, and is giving back some of the gains midday. Because of this, I think we continue to see negativity in this market, and it is probably only a matter time before we fall again.
Investing.com - The dollar was lower on Tuesday, but still remained near a 16-month high in anticipation of Federal Reserve rate hikes.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.29% to 97.10 as of 10:54 AM ET (15:54 GMT), but remained near Monday’s high of 97.52.The greenback continued to push higher amid expectations that the Federal Reserve will raise rates in December and beyond, as the U.S. economy gains strength. ...
The Australian dollar is mixed against the major crosses in late trade on Tuesday, gaining strongly against the US dollar, Japanese yen and Canadian dollar but losing ground against the British pound. The GDP and euro were supported by news of a Brexit deal being struck between the UK and EU.
Despite the long-term pressure from the divergence between the monetary policies of the hawkish U.S. Federal Reserve and the dovish Reserve Banks of Australia and New Zealand, it looks as if the positive trade news about the U.S. and China is likely to drive the price action on Tuesday.
Investing.com - The yuan inched up against the dollar on Tuesday following reports that U.S. Treasury Secretary Steven Mnuchin had resumed talks with China Vice Premier Liu He.
Economic data is likely to have a relatively muted impact on the majors through the day, with heightened geo-political risk to drive the EUR and the GBP.
Based on Monday’s price action, the direction of the AUD/USD is likely to be determined by trader reaction to the steep downtrending Gann angle at .7222.
Investing.com - The dollar remained near a 16-month high on Monday, as concerns over Brexit and political issues in Italy weighed on the pound and euro.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, surged 0.47% to 97.19 as of 10:36 AM ET (15:36 GMT), not far from a session high of 97.36, the most since June 2017.The greenback surged amid expectations that the Federal Reserve will raise rates in December and beyond. An equity selloff also helped boost demand for the dollar, as Wall Street opened lower. ...
The Australian dollar has fallen a bit during the trading session on Monday to kick off the week, as we have initially tried to rally, but then broke down a bit from there. At this point, the 0.72 level is the door to lower pricing.
The sell-off in the EUR/USD pair continued in the Friday’s session as it reached down to the 1.13 level, an area which is supportive. The Italian debt crisis and the Fed’s hawkish attitude on further rate hike are keeping the market under pressure. The 1.27 level underneath is a strong support point and the market is likely to gain enough strength to continue moving higher.
The Australian dollar selloff intensified on Monday as investor sentiment took a turn for the worse. The US dollar index hit the highest level since June 2017, reflecting large losses in both the British pound and euro. The data calendar is quiet on Tuesday, likely ensuring that sentiment and technicals will dictate broader market direction.
Brexit and Italy will be in focus through the day, the EU Commission the common denominator, placing GBP and the EUR in the spotlight.
Investing.com - The dollar was trading near 16-month highs against a currency basket on Monday, bolstered by expectations that the Federal Reserve will hike interest rates again in December and beyond.
Based on last week’s close at .7228, the direction of the AUD/USD this week is likely to be determined by trader reaction to the intermediate 50% level at .7252.
Despite the positive outlooks from the RBA and the RBNZ, Aussie and Kiwi gains are likely to be limited because the divergence in their monetary policies with the Fed continue to favor the U.S. Dollar.
The Dollar/Yen rose last week as buyers returned to the stock market, dampening the attraction of the Japanese Yen as a safe-haven asset. The Australian Dollar rose steadily all week, seemingly unaffected by the outcome of the U.S. elections and another hawkish statement from the Fed. The New Zealand Dollar rose last week, supported by solid employment data and a surprise tweak to the Reserve Bank of New Zealand’s monetary policy statement.
Ahead of the new week, buyers are likely to continue to support the dollar for two reasons: the Fed is still hiking rates and trade tensions are still making the greenback an attractive safe haven asset.
The Australian dollar has tried to rally during the week but found enough resistance at the 0.7250 level to turn things around and form a bit of a shooting star. I think that the Australian dollar may have gotten ahead of itself after the bounce, which of course makes sense at the 0.70 level.