|Day's Range||0.683 - 0.686|
|52 Week Range||0.6834 - 0.7484|
Investing.com - The British pound was little changed against the U.S. dollar on Tuesday in Asia even after fears of a no-deal Brexit resurfaced.
The Australian dollar went back and forth early on Monday to at the very least stabilize, but at this point there’s nothing compelling about the Aussie to get aggressive about. We are at crucial levels, so there are plenty of things to pay attention to.
Investing.com - The U.S. dollar slipped on Monday in Asia as traders awaited the upcoming Federal Reserve policy meeting later this week where Fed Chair Jerome Powell could open the door to rate cuts later in the year.
The Australian dollar fell during trading on Friday, breaking below the 0.69 handle. That being said, there is still plenty of support underneath so I think that the downside is probably somewhat limited, but you can say the same thing about the upside.
It’s a litmus test for the U.S economy today. Retail sales and consumer sentiment figures will give the FED an idea of how consumers really feel.
Investing.com -- The dollar was lower against the yen and euro early Friday in Europe but higher against risk proxies such as the Aussie dollar as traders shunned risk ahead of a weekend set to be marked by geopolitical tensions.
Oil prices rose around 3.8% in the early hours as two Saudi Oilers got attacked in the Gulf of Oman. Cable down as Brexit Hardliner Boris won the first ballot. Weak Jobless Claims strengthened rate cut hopes.
The Australian dollar initially fell during early trading in Asia on Thursday, as there was a significant amount of “risk off” attitude around the world early. However, the market has since bounced from the psychologically and structurally important 0.69 handle.
The Greenback is on the back foot early as the Asian markets respond to softer inflation out of the U.S. Australian employment figures failed to impress this morning.
The data indicates that last month’s election failed to revive the jobs market, while risk events such as global politics and the escalating trade dispute between the United States and China continued to weigh on the economy.
Investing.com - The Australian dollar fell against its U.S. counterpart on Thursday following the release of a disappointing jobs report, while the Japanese yen rose on safe-haven demand.
The Australian dollar fell a bit during trading on Wednesday, as we continue to see a lot of negativity creep back into this market. However, there’s a lot of noise between here and several other levels, so ultimately this is a market that looks very likely to be choppy still.
Based on the early price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the short-term 50% level at .6943.
Technical analysis gives us some hints, that this movement should be continued, at least on the Dollar Index and the EURUSD but do we have the same situation on other pairs with the USD?
Investing.com - The U.S. dollar index was hovering near two-month lows on Wednesday in Asia after U.S. President Donald Trump said the officials of the Federal Reserve “don’t have a clue” on rates.
Investing.com - The Chinese yuan rose against the U.S. dollar on Tuesday in Asia as China set the currency’s daily fix at a stronger-than-expected rate. Reports of funding support from the Chinese government were also in focus.
The Aussie dollar initially tried to rally at the open on Monday, but then failed again at the 0.70 level, an area that has caused quite a bit of downward pressure.
Investing.com - The Mexican peso jumped 2% against the U.S. dollar after the U.S. and Mexico agreed on a migration deal to avoid tariffs on Mexican goods.
The Australian Dollar closed higher last week after consolidating for two weeks inside a tight range. Short-covering and some counter-trend buying drove the price action as investors continued to adjust to a steep drop in U.S. Treasury yields. The interest rate differential continued to tighten making the U.S. Dollar a less-desirable asset as investors began to price in a possible U.S. Federal Reserve rate cut for June or July.
Early in the week, we’ll be watching the reaction by Treasury traders to the news of the postponement of U.S. tariffs against Mexico that were supposed to start on Monday, June 10. This could ease pressure on the economy and encourage long bond investors to take profits. Since they move inverse to bond prices, yields could rise, making the U.S. Dollar a more attractive asset.
The Australian dollar has rallied significantly during the week, slamming into the significantly important 0.70 level. With that in mind, it’s obvious that we are facing a huge amount of selling pressure in this area.
U.S nonfarm payrolls and wage growth will be the main event of the day. Outside of the stats, will be there any trade chatter to rile the markets?