The day ahead for AUD/USD all you need to know:

AUD/USD key resistance at 0.7470. Pivot: 0.7470Our preference: short positions below 0.7470 with targets at 0.7440 & 0.7425 in extension.Alternative scenario: above 0.7470 look for further upside with 0.7490 & 0.7505 as targets.Comment: the break below 0.7470 is a negative signal that has opened a path to 0.7440.Supports and resistances:0.75050.74900.74700.7456 Last0.74400.74250.7400 Brought to you by […]

The week ahead

We have a full week of  announcement in the week ahead. How is the pandemic affecting the markets? Which economy is on the rise? German Retail Sales will be first cab of the ranks today followed by US ISM manufacturing PMI, RBA Interest Rate Decision and Europe GDP tomorrow. Lets take a look at what […]

Asia Market Outlook – Pfizer 95% effective

Overnight Action Bullets Asia: Bank Indonesia and Philippines seen on hold; Australia employment Yields cheapen after weak auction, but drop in stocks limits losses Treasury’s record $27 bln 20-year sale tails to 1.422%, very poor sale Fed’s Williams worries about the expiration of fiscal aid U.S. housing starts improved 4.9% to 1.530 mln in Oct […]

13 November North America Close

The Dollar was modestly lower in N.Y. trade on Friday, resulting in the DXY falling from lows of 92.91 to 92.75 in early afternoon. Major Dollar pairings were largely held to narrow trading bands, but risk-on conditions weighed fairly broadly on the safe-haven Greenback. Wall Street rallied, with markets holding out hope for a Covid […]

Gold Price up 0.18%

Gold traded to a high of $1902.93 today, a gain of 0.18%. However, how will it hold up  at these levels. $1,897 representing a key level of support. A failure to come bounce back from here could see the yellow metal take another tumble to September lows of $1,848. With little to no news to […]

Will ECB Cut Rates? Survey Says No

Before I get into forex news I will start off with some development from yesterdays story. Yesterday saw electric car and battery manufacturer Tesla run out of power with no charge station in site. After tanking to its biggest one day fall in its history losing almost 34% after being snubbed by the by the […]

NFP – All You Need to Know

August NFP result are in and boy have they impressed. The US has enjoyed another month of positive jobs data with a further in crease of 1.371 million jobs in August  and unemployment falling to 8.4%.   However low participation rate has weighed down on the positivity yet again. We have seen the participation rate […]

Aussie, NFP and trade of the week update

The Aussie continues i’ts three day loosing streak falling below 0.7265. This stemming from a three day rally in the dollar index accompanied with NFP Data. NFP is once again expected to perform better than expected after a positive result in August. The US economy added 1.76M jobs in July, a better-than-expected figure, although the […]

Australian GDP figures are in & the Aussie does’t like them

Australia has released it’s GDP figures for Q2, muchly anticipated after COVID-19 had dug it’s claws in. But how much of a bite did it take out of the economy? Well thanks to it’s resurgence in Victoria, it was a Great Australian Bites worth. Coming in at the largest recorded pct to date at -7.0% […]

EUR/USD Breaks the 1.20 Ceiling

The Euro rallies due to dollar weakness and breaks the psychological barrier of 1.20.  After the Federal Reserves dovish shift earlier this week, we have seen the dollar free-fall and other currencies rally. But none have rallied much like the most liquid pair, hitting level we haven’t seen since May 2018.   Although the sellers […]