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Thread: AUD USD

  1. #301
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  2. #302
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    AUD/USD change short term from bullish to bearish



    • The Australian dollar declined strongly against US dollar on Friday following encouraging US economic data, dragging the pair all the way towards 0.7587 levels.

    • Data on Friday showed that U.S. consumer prices gained for a fourth straight month in June, while retail sales also rose more than expected.
    • Currently, the currency pair is trading around 0.7590 levels, it is set to decline further towards 0.7540 later towards 0.7500 levels in the short term.
    • To the upside, the strong resistance can be seen at 0.7609, a break above this level would take the pair towards next resistance level at 0.7654.
    • To the downside, immediate support can be seen 0.7570, a break below this level will open the door towards next level at 0.7534.​




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    Mirza
    PCM Brokers DMCC

  3. #303
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    AUD/USD outlook weaker on renewed downside pressure


    The AUD/USD declined on Wednesday, as commodity currencies weakened across the board after oil prices extended their losses after an unexpected large build in U.S. crude stockpiles renewed worries about oversupply in the market.

    The pair hit low at 0.7597, after finding selling interest around 0.7629 levels before retreating slightly towards 0.7608 levels in the mid-morning US session.

    Currently, the currency pair is trading at 0.7614 levels, it is set to decline towards 0.7580 and 0.7540 levels in the short term.

    To the upside, the strong resistance can be seen at 0.7652, a break above this level would take the pair towards next resistance level at 0.7723.

    To the downside immediate support can be seen at 0.7590, a break below this level will open the door towards next level at 0.7552.




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    Mirza
    PCM Brokers DMCC

  4. #304
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    AUD Rose above 0.7600

    The Australian dollar rose above the 0.7600 handle after data pointed to robust company profits and wage growth.

    The major was also supported by strong China August service PMI release, which came in at 52.1, against estimates of 51.9. Data released earlier in the session showed Australias TD securities inflation for August rising by 0.2 percent m/m and 1.2 percent y/y, versus previous -0.3 percent and 1.0 percent, respectively.



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    Mirza
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  5. #305
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    The ongoing bullish momentum behind the AUD found extra legs after the RBA kept the cash rate unchanged at 1.5% at its policy meeting held today.
    AUDUSD pair jumps +0.40% to fresh session highs of 0.7646, extending the upside towards 0.77 handle. The Aussie leaps after the bulls cheered RBA’s status-quo, while the central bank retained its neutral policy stance.
    Moreover, RBA’s optimism on the inflation levels going forward bolstered the bids surrounding the AUDUSD pair. While the latest set of upbeat Chinese manufacturing PMI reports is also seen as a catalyst behind the recovery in the major from a dip just below 0.76 handle.
    With the RBA policy decision out of the way, focus now shifts toward the US fundamentals, viz., ISM manufacturing report, due later on the day ahead of Wednesday’s FOMC decision.
    The pair finds the immediate resistance at 0.7674 above which gains could be extended to the next hurdle located 0.7709 and 0.7739. On the flop side, the immediate support located 0.7584. Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7550 and below that at 0.7532.

  6. #306
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    Australia bounce from 1-month lows


    The Australian dollar bounced from a one-month low on Tuesday, underpinned by rising commodity prices, and as a prediction of rising inflation from the country's central bank implied further interest rate cuts were off the agenda for now.


    The Australian dollar AUD=D4 rose as high as $0.7582, after the Reserve Bank of Australia (RBA) released minutes of its November policy meeting in which it once again gave an upbeat assessment of the economy. (Full Story)


    It touched $0.7524 on Monday, the lowest since Oct. 13, but has now steadied around $0.7556.


    "There is a clear change in the Reserve Bank's attitude to inflation. Admittedly, it is not flashing warning signs," Craig James, chief economist at CommSec.


    "Simply, interest rate settings are likely to remain stable until well into 2017."


    RBA Governor Philip Lowe speaks in Melbourne later in the day and economists were keen to hear his views on whether U.S. President-elect Donald Trump's election promises would actually lift inflation and interest rates in the world's largest economy.


    The Aussie has fallen 2.5 percent since Trump won the election last week, as investors sent the greenback and bond yields soaring.

  7. #307
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    IMF warns of downside risks to Australia's economic outlook, calls for more government spending


    The International Monetary Fund (IMF) released its annual report on Australia in which it said that the economic growth in Australia could moderate somewhat over the next two years and the pace of fiscal consolidation needs to be more gradual.


    The fund noted that risks to the economy and inflation remained on the downside and said Australia needs to keep interest rates low and spend more on quality infrastructure for the economy to return to full employment, particularly against a weak global backdrop.


    "Ensuring the return to full employment under weak global conditions will need continued accommodative monetary policy and quality infrastructure spending, which will also boost long-term growth potential," IMF staff wrote in their regular assessment.


    The report recommended the conservative government of Malcolm Turnbull slow efforts to balance its budget on a five-year horizon. It said that the pace of targeted fiscal consolidation under the baseline should be more gradual and some of the growth-friendly spending should be ramped up.

  8. #308
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    AUSTRALIAN DOLLAR FALLS 0.9 PERCENT TO TWO-MONTH LOW OF $0.7488.


    The Australian dollar slipped lower against its U.S. counterpart on Wednesday, re-approaching a one-month low, while the New Zealand dollar held steady as expectations for an upcoming U.S. rate hike continued to support demand for the greenback.


    AUD/USD fell 0.21% to 0.7544, not far from Tuesday’s one-month trough of 0.7505.

  9. #309
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    Aussie dollar remains poised for further range bound between 0.7350 and 0.7550 for the next 1-3 weeks.
    AUD staged a solid rebound after touching a low of 0.7417 yesterday. Upward momentum is relatively strong and a break above the recent high at 0.7495/00 seems likely. That said, the next level at 0.7550 is a major resistance and the odds for a move this level are not high.
    There is not much to add as AUD continues to trade in a relatively muted manner. The neutral phase that started about 2 weeks ago is still in place and we continue to expect range trading, likely within a 0.7350/0.7550 range.

  10. #310
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    Australian Dollar gain in Asia session with tramp, Yellen this week.

    The Aussie gained on Monday in Asia in thin trade with markets in Tokyo shut and investors awaiting remarks from President-elect Donald Trump at a planned press conference this week as well as a slate of Fed speakers, including Chair Janet Yellen.

    AUD/USD gained 0.19% to 0.7318, while USD/JPY changed hands at 117.24, up 0.18%.

    In Australia, building approvals rose 7.0% in November month-on-month, well above the 4.6% gain seen, while private house approvals fell 0.2% in November, following a 2.3% decline the previous month.

    Financial markets in Japan are shut for a holiday.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 102.17.

    In the week ahead, investors will be looking ahead to U.S. economic reports, particularly Friday’s retail sales figures for December. Investors will also be watching an appearance by Yellen on Thursday and speeches by a handful of other Fed officials during the week, as well as Trump on Wednesday.

    Last week, the dollar surged against a basket of the other major currencies on Friday after the U.S. non farm payrolls report showed a slowdown in hiring in December but the fastest wage growth in over seven years.

    The Labor Department said the U.S. economy added 156,000 jobs in December from the prior month, while the unemployment rate ticked up to 4.7% from a nine-year low of 4.6% in November.




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    Mirza
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    PCM Brokers

 

 
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