Fundamentals
This is the second attempt to take advantage of the medium-term expected strength in AUD and dovish stance of SNB.
The weak home sales data from the US can be a trigger for further risk-on upside momentum.
Technical & Other
Setup: S(B)
Setup timeframe: 1h
Trigger: 1h
Risk: 0.26%
Entry: buy stop
During the overnight Asian session, there was a release of Australian CPI data, indicating that inflation remains stable at 3.4%, which is slightly below the expected 3.5%. Consequently, we can anticipate that this news could potentially drive the Aussie lower on maybe dovish RBA, who may try to follow other dovish CBs.
From an Elliott wave perspective, we are...
The Aussie (AUD/USD) could rise towards a potential breakout level and climb higher from here should we see a hawkish monetary policy statement at 3:30 am GMT as well as a hawkish press conference by RBA Governor Michele Bullock at 4:30 am GMT.
Buy entry is at 0.65826 which is a potential breakout level.
Stop loss is at 0.65220 which is a level that lies...
The Australian dollar is showing little movement on Monday. In the North American session, AUD/USD is trading at 0.6655, down 0.07%.
The Reserve Bank of Australia wraps up a two-day meeting on Tuesday and is widely expected to maintain the cash rate at 4.35%. The RBA last raised rates in November 2023 and rates have likely peaked.
There isn’t much suspense ahead...
The Australian dollar remains close to the 0.66 line, where it has been for most of the week. In the North American session, AUD/USD is trading at 0.6620, up 0.21%.
The business sector is not feeling very confident about the near-term outlook of the Australian economy. The NAB Business Confidence index dipped to zero in February, down from one in January but...
The Australian dollar has posted strong gains on Wednesday despite a weak GDP report today. In the North American session, AUD/USD is trading at 0.6562, up 0.90%.
Australia’s economy ended 2023 on whimper rather than a gain, as GDP rose just 0.2% q/q the fourth quarter. This was lower than the 0.3% gain in the third quarter and missed the market estimate which...
The Australian dollar took a hit after Australian inflation was lower than expected. In the North American session, AUD/USD is trading at 0.6493, down 0.78%.
Australia’s inflation rate remained steady in January at 3.4% y/y, unchanged from December and below the market estimate of 3.6%. This matched the lowest rate of annual inflation since November 2021. The...
Ahead of tomorrow’s RBA Interest rate announcement I’ll be looking closely at GBPAUD, as we can see from the current GBPAUD chart from a top-down and a down-up perspective we can take note of the fact that after managing to break out of the downward retracement last month, GBPAUD mamaged to push steadily upward until reaching our 1.94150 area before “losing...
Preferred direction: BUY
Comment: The RBA's decision on the interest rate will also most likely have an impact on the New Zealand currency, to a lesser extent, surely, but potentially, since the economies of New Zealand and Australia are closely related and are neighbors. However, we are considering longs for this instrument in the medium term,...
Preferred direction: BUY
Comment: A fairly good picture for short-term long-idea has also formed for silver. A buy signal began to form on Friday, and by the end of Monday of the new week, you can finally consider going long. The main growth target is level 23.32250.
Scenario №2 assumes a preliminary retest of the support area at the 22.00 level.
...
Preferred direction: BUY
Comment: One of the most important events of this trading week is, of course, the RBA's interest rate decision and accompanying statements. At the moment, all previous sales have been closed, and strengthening against the US dollar is expected. Two scenarios are ready for your attention, and the first one is already in progress. We...
The Australian dollar is slightly lower on Monday, after sliding 0.90% on Friday. In the European session, AUD/USD is trading at 0.6499, down 0.21%. Earlier, AUD/USD traded as low as 0.6486, its lowest level since mid-November.
The Reserve Bank of Australia is expected to maintain the benchmark rate at 4.35% at Tuesday's meeting, the first of 2024. The RBA raised...
The Australian dollar is in positive territory on Monday after an uneventful week. In the European session, AUD/USD is trading at 0.6603, up o.41%.
The markets are braced for a soft retail sales report on Tuesday, with December's consensus estimate standing at -1.0%. The November report sparkled with a 2% gain, the strongest level since November 2021. The strong...
"Restaurant Brands Asia Limited" earlier known as "Burger King India" is currently showing a good setup and an upside potential of 45% from CMP.
The stock had rallied nearly 60% between March-Sep 2023. This very rise was impulsive in nature and therefore labeled as wave 1 on the chart. Between Sep-Dec the stock went through a triple three correction(WXYXZ) and...
The Australian dollar has started the week in negative territory. In the European session, AUD/USD is trading at 0.6648, down 0.40%. The Australian dollar is coming off a strong week, with gains of 1.38%.
The Reserve Bank of Australia is expected to hold rates at 4.35% at its Tuesday rate meeting. The central bank has paused for four straight months and the...
The minutes from the Reserve Bank of Australia's (RBA) Nov. 7 meeting due out on Tuesday at 0030 GMT present a risk to the recent gains in the Australian dollar.
At the meeting the bank hiked the cash rate by 25bps to 4.35%, matching expectations. However, the RBA delivered a less hawkish forward guidance, stating that further tightening of monetary policy may be...
The USD, having experienced substantial blows from rate cut projections, faces a challenging scenario with the Fed signaling probable easing. Despite the narrative of falling inflation, policymakers are aiming to relay the message that inflation has yet to stabilize sustainably near the targeted 2%. The looming Fed speeches, particularly Chair Powell's impending...
