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In Australia, traders will get a chance to react to quarterly consumer inflation data. Better-than-expected data will likely buy additional time for the RBA before it has to finally cut rates. Weak data will likely move up the expected rate cut. Quarterly CPI is expected to come in at 0.2%, down from the previously reported 0.5%. Trimmed Mean CPI is expected to come in at 0.4%, unchanged from the previous reading.
Based on last week’s price action and the close at .7151, the direction of the AUD/USD on Monday is likely to be determined by trader reaction to the main Fibonacci level at .7153 and the intermediate 50% level at .7150.
Given the new CPI data, New Zealand economists are now predicting the Reserve Bank will cut its official cash rate from its present record low at 1.75 percent to 1.5 percent in May. Although traders are pricing in an RBA rate cut for later in the year, the employment report may have bought the central bank a little time. The AUD/USD price action suggests that traders may have increased bets the RBA will not rush to ease rates even though the broader economy has seemingly lost momentum.
The Australian dollar initially tried to rally during the week but also gave back the gains to roll over and form a bit of a shooting star. We are starting to see resistance at an area where you would expect it, so it makes sense that we get a bit of a pullback.
The Australian dollar initially tried to rally during the day on Friday but gave back the gains to continue the negativity that we had seen on Thursday. However, there is plenty of support underneath so the question is whether or not this will be value?
The Dollar index has risen to a 5-month highs after disappointing EU PMI reports. GBPUSD just fell below 1.30 and now is trying to stay above its MA(200). EURUSD is eyeing key support at 1.1200. AUDUSD failed with growth.
With the major financial markets closed for the day, volumes will be on the lighter side. U.S housing data will be the only numbers for the Dollar to respond to.
The Australian dollar continues to grind sideways just below an important technical figure, so it makes sense that we simply can’t get anywhere. With that being the case, more sideways and listless trading is probably ahead.
Now, the owner of the New York Stock Exchange is turning to state watchdogs to get the project over the goal line. ICE’s plan is to create a highly regulated Bitcoin ecosystem that would encourage pension funds, endowments and other institutions to invest more money in the space, and make it much easier for consumers to buy products with the cryptocurrency. The venture, announced to much fanfare in August, has lined up big-name backers, including Starbucks Inc. and Microsoft Inc.
The rebound in China’s economy did little to excite investors despite GDP, retail sales, industrial production, and fixed asset investments all showing signs of improvement.
Investing.com -- The euro is trading sideways against the dollar early Thursday in Europe, awaiting what are likely to be market-moving business surveys from around the region.
According to the Australian Bureau of Statistics, the Employment Change in March showed the economy added 25.7K new jobs versus an estimate of 15.2K. This was also well above the February number at 4.6K. The Unemployment Rate was 5.0%, the same as the forecast. This was up slightly from the previously reported 4.9%.
Based on the early trade, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the price cluster at .7154 to .7153.
February’s employment report was mixed and in this week’s Reserve Bank of Australia minutes, the central bank didn’t sound too excited about the upcoming report. In the minutes, the RBA said that an uptrend in the unemployment rate would open the door to a rate cut.
Investing.com - The Australian dollar rose on Thursday in Asia on stronger-than-expected jobs data for March. The euro also inched up ahead of the release of euro zone PMI data later in the day.
The Australian dollar continues to grind a little bit higher during the trading session on Wednesday, as we have seen a bit of a bottoming pattern for some time when it comes to the Aussie. There is nothing on this chart that change is that as I look at it.
Nasdaq (NDAQ) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
MarketAxess (MKTX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Interactive Brokers' (IBKR) first-quarter 2019 results benefit from higher revenues. However, higher expenses act as a headwind.
A slim majority of fund managers now reckon the Federal Reserve has concluded its rate rise cycle, according to a closely watched survey that highlights the dramatic change in investor sentiment since the start of this year. The proportion of investors who expect the Fed to have finished increasing interest rates has risen to 53 per cent, from less than 40 per cent in March, according to a poll by Bank of America Merrill Lynch of 187 managers with $547bn in assets under management. to continue raising interest rates.
The Dollar’s on the back foot following stats out of China this morning. It may not last though if there’s a resolution to the trade war…
China data was skewed to the positive. Whilst failing to spur the equity markets, the EUR and the Aussie Dollar benefited.
Investing.com -- The dollar was broadly lower in early trading in Europe on Wednesday after China’s slightly faster-than-expected economic growth in the first quarter encouraged a new leg up in commodity currencies.