The shift in risk appetite overnight, caused by a jump in new CoVid-19 cases outside of China, piled more pressure on the beleaguered Aussie. Weak local data added to the downforce, pressing AUD/USD to the lowest levels in 11 years.
Australia services PMI drops below 50
The Commonwealth Bank service
In contrast to February’s RBA meeting statement, which demonstrated a less dovish outlook, the minutes revealed that the members considered lowering the policy rate further. Yet, they decided to keep the powder dry on concerns over “risks associated with very low interest rates”. The central bank wa
Gold is flashing green amid risk-off tone in equities.
Renewed coronavirus scare has likely put a bid under haven assets.
Gold is finding love in Asia amid signs of risk aversion in the equity and currency markets.
At press time, the yellow metal is trading at $1,570 per Oz, representing a 0.30% g
Daily Pivots: (S1) 1.2873; (P) 1.2909; (R1) 1.2947;
Intraday bias in GBP/USD remains neutral consolidation a above 1.2872 temporary low. Upside of recovery should be limited below 1.3209 resistance. On the downside, break of 1.2872 will resume the corrective fall from 1.3514 to 61.8% projection of 1
China official PMIs for January are in. Markets were expecting 50.0 on the manufacturing index and 53.5 on services. Risks of a surprise were sure to be to the downside into the event considering the impact of coronavirus will be closely assessed in the coming months following the end of lunar new y
Risk sentiments stabilize some what today as markets are digesting the impact of China’s coronavirus outbreak. But there is no clear sign of a turn around in the markets yet. Commodity currencies are just consolidating at low levels. Yen is also staying in tight range close to this week’s high. Doll
Ahead of the Bank of England’s (BOE) key monetary policy meeting results, on Thursday, TD Securities came out with its analysis of how the event could affect the markets while also expecting 25 basis points (bps) cut to the benchmark interest rate.
We look for the BoE to cut Bank Rate to
US Federal Reserve comfortable maintaining the status-quo throughout 2020.
Market players waiting for clues on future developments related to the balance sheet.
USD the strongest, rally to continue despite overbought signs.
The US Federal Reserve will have its first monetary policy of 2020 this Wed
AUD/USD recovered to 0.6933 last week but quickly reversed. As it’s staying in consolidation above 0.6849, initial bias remains neutral this week first. Outlook is unchanged that rebound from 0.6670 could have completed with three waves up to 0.7031. Break of 0.6849 will turn bias to the downside fo
NZD/USD awaits the Chinese GDP data for a potential catalyst.
NZD to fund support on stronger global growth going forward.
RBNZ 14th Feb meeting next major risk for the bird.
NZD/USD is currently trading at 0.6634 within a tight ten-pip range as markets await the Chinese Gross Domestic Produce at
Gold's daily line chart is reporting a flag breakout.
The pair could revisit resistances at $1,562 and $1,573.
Gold is again looking north and could challenge resistance at $1,562.
The yellow metal 0.64% and closed at $1,556 on Wednesday, confirming a bull flag breakout on the daily line chart.
WTI is lacking a clear directional bias in Aia
Surprise US inventory build-up and record output could keep gains, if any, under check.
West Texas Intermediate (WTI) oil is trading above the $58 handle in Asia.
The black gold witnessed two-way business on Tuesday and ended the day with marginal ga
WTI oil's daily chart is reporting the longest losing streak in three months.
Prices are defending key ascending trendline support in Asia and may chart a minor bounce.
WTI oil fell for the fifth straight day on Monday, confirming the longest daily losing streak since early October.
AUD/USD trades positive for the second consecutive day, towards 21-day SMA.
50% Fibonacci retracement and ascending trend line since early-October cap near-term declines.
AUD/USD takes the bids to 0.6911 during the early Monday. In doing so, the pair extends recovery gains beyond 200-day SMA, which
Australia’s run of official data for November continued today with Retail Sales for the month of November, Month on Month (MoM).
Data arrived as follows
+0.9 vs +0.4 (expected) and 0% prior. (AUD rallies 15 pips at the time of writing).
"The 0.0% MoM headline reading in Oct was a