
The G20 summit took place in Bali, Indonesia, on November 2022…
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AUD has a pause on the way up as 600,000 people lost jobs. Is it a short-term correction or change of a course?
"A very tough day, terribly shocking, although not unanticipated", - said Scott Morrison, the Australian Prime Minister. These days it’s really hard to surprise someone with a weak economic data. We already got used to it. However, it weighed some pressure on AUD, but it wasn’t the only one reason that pushed it down.
Jerome Powell, the Fed chairman, gave a quite pessimistic outlook. He claimed that there is a high risk of the future deep downturn. Most economists and even Donald Trump discussed the positive impact of negative rates on economic activity. Nevertheless, Powell was unmoved, he rejected that possibility. This negative perspective pushed USD up and AUD down. The Australian dollar is really sensitive to all the market fluctuations.
Those reasons were enough for the market-sensitive AUD to fall, but the overall risk-averse and fears of the second coronavirus wave destroyed the poor aussie completely. AUD, NZD, CAD, GBP, stock indexes such as S&P 500 and Dow Jones – all together are suffering. Things can improve only when the market will switch to the risk-on sentiment.
The AUD/USD had been increasing since March 23 and it almost bounced back to its pre-crisis position. The price hit the 100-day moving average twice at 0.655. If it dips down to 0.633, what is quite possible, it may go even lower to the support line at 0.627 where is the 50-day moving average. Most analysts have bearish scenarios for the aussie. However, if it gains and crosses the resistance level at 0.649, it will go further up to 0.655.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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