|Day's Range||0.676 - 0.676|
|52 Week Range||0.6679 - 0.7393|
The Australian dollar continues to show a bit of weakness, as the US/China trade situation does not seem to be getting any better. If that’s going to be the case, then there’s no reason to think that the Australian dollar will be able to pick it up.
The Australian dollar went back and forth during trading on Friday yet again, as we are still stuck in a bit of a consolidative rut. However, the biggest problem this market has comes from other countries, not Australia itself.
Based on the early price action, the direction of the AUD/USD on Friday is likely to be determined by trader reaction to the pivot at .6749.
Boris Johnson returns and having failed to fully push the door open to renegotiations could be in for a tough week ahead…
A scheduled FED Chair Powell speech from the Jackson Hole symposium is the main event of the day. He may feel Trump over his shoulder…
Investing.com - The New Zealand dollar rose against the U.S. dollar following comments by Reserve Bank of New Zealand (RBNZ)’s Governor Adrian Orr.
Based on the early price action and the current price at .6769, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the uptrending Gann angle at .6787.
It’s a busy day ahead as the markets react further to the FOMC meeting minutes. Chatter from Jackson Hole may overshadow the stats…
Investing.com - The U.S. dollar was largely unchanged on Thursday in Asia. The U.S. Federal Reserve’s July 30-31 meeting minutes released overnight received some focus.
Cable continued to stay consolidated near 1.1264 level on Wednesday. Upbeat July Canadian Consumer Price Index (CPI) remained as the primary driver that lifted the CAD currency.
Investing.com - The U.S. dollar was near flat on Wednesday in Asia, while the Euro was also largely unchanged as Italy’s Prime Minister quit.
The upward-facing USD/CHF pair was aiming to breach above the overhead red Ichimoku Clouds. After displaying three consecutive positive sessions in a row, the Japanese Yen pair was attempting to breach above the 106.742 resistance.
The Aussie dollar continues to go back and forth during the Tuesday session, testing the resistance above, but it does look as if we are simply killing time to try to figure out which direction we are going next.
The RBA looks set to hold on rates near-term. For the day ahead, a lack of stats will leave the markets exposed to any trade war chatter.
The RBA minutes should offer nothing new for investors and should take on a somewhat dovish tone. However, the primary focus for investors this week will be speeches by Governor Lowe and Fed Chair Jerome Powell at the Jackson Hole Symposium.
Investing.com - The U.S. dollar was flat on Monday in Asia as traders remained cautious ahead of Federal Reserve minutes due later this week.
The price action suggests traders have a limited bias early in the session. However, holding above the pivot at .6740 suggests a support base may be forming.
The Reserve Bank of Australia Monetary Policy Meeting Minutes will be featured on Tuesday. Traders will be looking for clues that could help them determine the frequency of future rate cuts by policymakers.
The minor range is .6677 to .6821. Its 50% level or pivot at .6749 is controlling the minor direction of the AUD/USD. Holding above this level is helping to generate a slight upside bias.
The Australian dollar has chop around during the week, showing signs of exhaustion, as the Australian dollar of course continues to suffer at the hands of the US/China trade war which seems to only be getting worse.
The Australian dollar tried to rally during the trading session on Friday again but continues to find sellers near the 0.68 handle. As we continue to consolidate, the market is trying to figure out whether or not we are going to be able to continue to see risk.
Investing.com -- Risk sentiment returned to the foreign exchange markets early Friday in Europe, with the Swiss franc and yen retreating against the dollar, and the dollar retreating against the pound as a week of turbulent newsflow drew to a comparatively quiet close.
Investing.com - The U.S. dollar steadied on Friday in Asia, while the Japanese yen fell following the release of better-than-expected U.S. retail sales data.