On the chart, the 50% weekly Fibonacci retracement is still the main technical reference with there being clear demand below that area. 67c seems to be a firm support for now and will probably remain so unless there’s a significant surprise from American inflation or the Fed’s meeting. To the upside, the 50 SMA from…
Read more
Key data this week Bold indicates the most important releases for this symbol. Tuesday 5 April from 4:30 GMT: statement and press conference of the Reserve Bank of Australia 12:30 GMT: American balance of trade (February) - consensus negative $88.5 billion, previous negative $89.7 billion 14:00 GMT: ISM non-manufacturing PMI (March) - consensus 58.4, previous…
Read more
The 100% weekly Fibonacci retracement, i.e. full retracement of losses in Q1 2020, is the main technical reference here and still a very strong support. A clear break below this would probably need a new catalyst from the RBA on Tuesday or Thursday morning’s balance of trade. Usually, a single NFP is unlikely to have…
Read more
Even before large losses at the end of last week, it already seemed fairly unlikely that the cartel would significantly boost production. With most members seemingly content with prices of Brent around $75-85 and various countries including Japan having released their strategic reserves of crude, there had been no clear calls among OPEC for increasing…
Read more
Australian dollar-US dollar, daily The Aussie dollar has recovered somewhat against its American counterpart since last week as sellers’ initial enthusiasm has worn off and most industrial commodities, Australia’s key exports, remain close to record highs. Sales of iron ore from Australia to China surged 20% in May, while Australian recovery measured by GDP growth…
Read more
EUROPEAN SHARES European shares trade higher on Tuesday, following a long weekend for traders and building on the boost to market sentiment carried over from the Asian session. Today’s risk appetite comes amid investors welcoming the reassuring release of China’s trade balance release, which topped estimates, while traders’ appetite was further boosted by strong signs…
Read more
ASIC and FCA licensed Retail FX broker AETOS Capital Group have provided their daily commentary on traditional markets for May 17, 2019. EURUSD The Euro slumped against the greenbacks on Thursday, and reached a weekly low at 1.1165, although it has attempted a recovery earlier this week. The tension around trade war between China and US…
Read more
ASIC and FCA licensed Retail FX broker AETOS Capital Group have provided their daily commentary on traditional markets for May 16, 2019. GBPUSD The Sterling slumped against US dollar to 1.2825 on Wednesday and reached to the lowest point since February. The news around Brexit is still dominating the Sterling, the news broke that the opposition…
Read more
ASIC and FCA licensed Retail FX broker AETOS Capital Group have provided their daily commentary on traditional markets for May 8, 2019. AUDUSD The Aussie surged against USD after the Reserve Bank of Australia’s latest interest rate decision yesterday. RBA left the interest rate at 1.5% on hold but lowered the expectation of CPI and GDP…
Read more
The following guest post is courtesy of ATFX. The Australian dollar is always interesting to trade, but early next week it will be even more interesting. The markets are giving it a 50% probability that the central bank will reduce interest rates by 25 basis points at their May 7th meeting, and if they indeed…
Read more