AUD/USD advanced overnight on the back of better than expected retail sales and business data. Australian dollar was one of the more resilient currencies over the past month as demand below 0.75 level proved overwhelming. The pair is trading at the highest level since March, eyeing 0.765 resistance.
Community Blog
AUD/USD tests 61.8% retracement
After months of underperformance, Australian Retail Sales improved in November. iPhone X and Black Friday sales have been cited. AUD/USD jumped 40 pips and is holding the gains. 0.7875 - 0.79 area, that includes 61.8% retracement of the September - December downswing, is the immediate barrier. 0.7850 is the initial support.
U.S. data and BOC outlook worth watching
Main economic event in the week ahead is probably the release of U.S. CPI and Retail Sales data for December, on Friday. Add to that U.S. PPI on Thursday. Monday's BOC Business Outlook Survey will be the bank's last communication before eagerly awaited monetary policy decision on January 17th.
Retail sales report sends USD/CAD higher
Weaker than expected retail sales report led to a 40-pip jump in USD/CAD yesterday. The pair held onto gains and is following through today. 1.2665 - 1.2825 range still in play. It's been a catch-up week for WTI oil with BRENT taking a bit of a breather it seems.
Will Cable make up its mind after retail sales report?
U.K. CPI hit 3.0% on the year-over-year basis for the first time since 2013. Wage inflation ticked higher too, but is running well below the inflation level, making it hard for the Bank of England to justify the impending bank rate hike.
Cable is holding just above 50 DMA ahead of the retail sales report at 08:30 GMT. We may see more selling on a weaker number than buying on a stronger one. 1.2950 - 1.30 is the target area, if the pair continues lower. 1.3450 - 1.35 is the target area, it the pa…
Cable is holding just above 50 DMA ahead of the retail sales report at 08:30 GMT. We may see more selling on a weaker number than buying on a stronger one. 1.2950 - 1.30 is the target area, if the pair continues lower. 1.3450 - 1.35 is the target area, it the pa…
Aussie bounces from below 0.78
The biggest Australian retail sales miss in four years and dovish talk by RBA's Harper appears to be have been already swept under the carpet. Latest inflation data from China and surging copper prices are supporting the current momentum.
AUD/USD break below 0.78 level didn't last for long as previous strong resistance area between 0.77 and 0.78 proved to be a strong support now. 0.80 is the next target with 50 DMA the initial resistance. 0.78 should now hold or else we might see another attempt…
AUD/USD break below 0.78 level didn't last for long as previous strong resistance area between 0.77 and 0.78 proved to be a strong support now. 0.80 is the next target with 50 DMA the initial resistance. 0.78 should now hold or else we might see another attempt…
U.S. dollar falls after inflation and retail sales reports
Earlier today a combo of U.S. inflation and retail sales reports for September was published. Inflation indicators came in somewhat weaker than expected but mostly higher than in August while retail sales were better than expected.
Market focus was on inflation and initial reaction was to sell the U.S. dollar. Moves stalled after 50 - 70 pips and later reversed to various extents across U.S. dollar pairs as traders digested otherwise solid reports. The dollar is closing the week lower against al…
Market focus was on inflation and initial reaction was to sell the U.S. dollar. Moves stalled after 50 - 70 pips and later reversed to various extents across U.S. dollar pairs as traders digested otherwise solid reports. The dollar is closing the week lower against al…
U.S. dollar recovers after hawkish FOMC decision
Fed's FOMC was surprisingly hawkish yesterday. They hiked federal funds rate by 25 basis points, as expected, and outlined strategy for reducing their balance sheet. FOMC chair Yellen told reporters that the balance sheet adjustment could begin "relatively soon".
Just a couple of hours before the FOMC decision, both inflation and retail sales reports came in weak and markets sold U.S. dollar on speculation that the FOMC will postpone hiking until data improves. The dollar recovered and followed …
Just a couple of hours before the FOMC decision, both inflation and retail sales reports came in weak and markets sold U.S. dollar on speculation that the FOMC will postpone hiking until data improves. The dollar recovered and followed …
NZD retail sales Q1 results
Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity , if we look in to history of last two quarters and previous year Q1 never crossed 1% but forcasted value is 1.1% so expecting actual value to be less than 1%.
Aussie extends losses after weak retail sales
Australian dollar continues its slide. A weaker than expected retail sales report didn't help, even though it is said to have been weather related. There's some stabilization in oil but both copper and iron ore are trending down.
Technically, the pair has retraced more than 61.8% of the year's gains. Some demand is to be expected near 0.73 and 0.72 with year's low (0.7165) in focus. 0.745 - 0.75 was a decent support up until recently and should now act as a resistance.
Technically, the pair has retraced more than 61.8% of the year's gains. Some demand is to be expected near 0.73 and 0.72 with year's low (0.7165) in focus. 0.745 - 0.75 was a decent support up until recently and should now act as a resistance.