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AUD/USD is driven by the news
Information is not investment advice
The Australian dollar will be quite volatile in the upcoming sessions. The near-term pressure on the Australian currency is related to worse-than-expected retail sales and trade balance figures released in Australia on Thursday. Earlier this week, comments of country’s central bank, on the contrary, had pushed AUD/USD up from the 2019 lows. The RBA Governor Lowe will speak on Friday. In addition, volatility will come from the US side of things, as America will publish Nonfarm Payrolls (NFP). Finally, don’t forget the market’s changeable attitude towards the threat of coronavirus which is also driving the AUD.
So far, AUD/USD met resistance around 0.6775. Still, as long as the pair is above the 50-period MA at 0.6735, it is safe from the decline to 0.6680 (previous minimums). On the upside, the next resistance is in the 0.6800/10 area ahead of 0.6850.
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus