|Day's Range||0.769 - 0.779|
|52 Week Range||0.7330 - 0.8136|
Jerome Powell’s first meeting as the Fed chairman ended up with a rate hike. However, the fed aims for three rate hikes in the rest of the year. In addition, concerns continue to grow over a trade war as Donald Trump is expected to impose US tariffs on Thursday.
The pair bounced higher during the yesterday’s session trying to reach towards the 1.23 level and above. The next few sessions, the market is expected to remain volatile as the Fed has moved forward with a 25 basis points rate hike and will have 2 more this year. The pair rallied a bit during the yesterday’s session using the 1.40 level as support.
Investing.com – The dollar continued to lose ground in morning trading in Asia Thursday, hours after the U.S. Federal Reserve moved to raise interest rates and China followed suit. The dollar was also pressured by fears of a trade war, with U.S. President Donald Trump all but set to announce a new set of tariffs against China.
Investing.com - Asian equities were mixed in morning trade on Thursday, as investors considered the implications of the Fed’s policy decision. Fears of global trade wars continued to weigh as U.S. president Trump is reportedly set to impose tariffs on more than 100 different types of Chinese goods over intellectual-property violations on Thursday.
The dollar’s initial rally failed to gain traction because ahead of the Fed’s announcement, speculators were probably betting on as many as four rate hikes this year.
The Australian dollar drifted a bit lower during trading on Wednesday as we await the Federal Reserve monetary policy statement, something it will obviously move the US dollar going forward. Currently, it looks as if the Aussie is going to try to reach towards a major uptrend line.
The Australian Dollar is not a complicated currency to trade at this time. The fundamentals are bearish with the Fed set to raise interest rates and the Reserve Bank of Australia in no hurry to hike its benchmark rate.
Investing.com - The U.S. dollar remained lower against other major currencies on Wednesday, as investors were cautious ahead of the Federal Reserve's monthly policy decision due later in the day.
Investing.com - The dollar was lower against a currency basket on Wednesday as investors awaited the conclusion of the Federal Reserve’s meeting later in the day, when it was expected to announce its first rate hike of the year.
Investing.com – The dollar remained steady ahead of Federal Reserve new head Jerome Powell’s news conference on Wednesday, from which investors expect a rate hike this month and will find cues whether there will be three or four rate hikes this year.
According to the CME Group’s FedWatch tool, market expectations for a March rate hike are 94.4 percent as of Tuesday afternoon.
The Australian dollar has fallen a bit during trading on Tuesday, breaking below the 0.77 handle. However, we are starting to see buyers jump back into this market, so it’s possible that we get a significant bounce. I would be surprised to see a major move between now and the Federal Reserve announcement, so keep that in mind.
Based on Tuesday’s close at .7682 and yesterday’s price action, the direction of the AUD/USD today is likely to be determined by trader reaction to the previous bottom at .7712.
Investing.com - The U.S. dollar moved higher against other major currencies on Tuesday, as investors awaited the Federal Reserve's monthly policy meeting due to begin later in the day.
While 1.2350-55 confined the EURUSD’s latest recovery, the 1.2290 seems coming back on the chart but an upward slanting trend-line, at 1.2265 now, may restrict the pair’s following downside. Should the quote drops beneath the 1.2265, the 1.2230 and the 1.2210-05 horizontal-line can become sellers’ favorite ahead of reigniting the importance of 1.2155 support-mark. In case if the Fed disappoints USD Bulls, the 1.2355 may offer immediate resistance to the pair before propelling it to the 1.2380 trend-line barrier, which if broken could further escalate the up-moves to 1.2410 and then to the 1. ...
The pair shot higher slamming the 1.2325 level during the Monday’s session, the area which has been a bit noisy and supportive in the past. Because of this, it will experience difficulty in crossing above and once it clears above then it should move higher reaching the 1.24 and 1.25 level eventually. The market has also some downside risk if the Fed sounds out to be more hawkish in respect to the rate hike in its next meet. …Read MoreGBP/USD
Investing.com - The dollar remained soft despite expectation of the first rate hike this year ahead of the meeting of the Federal Open Markets Committee (FOMC) on Tuesday and Wednesday. Investors expect a hawkish Federal Reserve to send the greenback up.
Early Tuesday, the Reserve Bank of Australia (RBA) released the minutes of its March monetary policy meeting. They offered very little new information for traders.
The Australian dollar was very quiet during trading on Monday as traders came back from the weekend. There seems to be a lot of “risk off” trading going on right now, as there are a lot of concerns about global trade wars and the like.
The RBA will release the minutes from its March 6 monetary policy meeting at 0030 GMT. At the meeting, the central bank maintained its benchmark cash rate at the record low 1.50 percent.
The U.S. dollar was lower against a basket of other currencies on Monday as news of progress on Brexit caused sterling to surge. “Decisive steps” have been made between the United Kingdom and the European Union on the agreements of the Brexit transition deal, officials said on Monday. The draft withdrawal bill was jointly published by the UK and EU and showed that complete agreement had been reached on Phase 1 points negotiated in December in regards to financial settlement and citizens’ rights.
Investing.com - The U.S. dollar held steady against other major currencies on Monday, as investors turned their attention to this week's Federal Reserve policy meeting.
There are no major reports today but traders should be on their toes for any news about possible tariffs against China, retaliation in response to President Trump’s recent tariffs on steel and aluminum and more shake-ups in the White House.
The pair broke down significantly during the Friday’s session reacting to the stronger than expected Industrial Production figures from US reported month over month. If the pair succeeds to break above the 107.50 level, then it will change the course of this market and will go towards the 110 level next.
Investing.com – The dollar dropped below the 90 mark as the Asia market opened on Monday morning. Boosted by risk aversion, the anti-risk Japanese yen performed the best last week and continued to remain strong as the Asia market opened on Monday.