AUD/USD AUD/USD declined more than 2.6% over the last week, hitting a low of 0.7055, before recovering somewhat. The main reason for the decline in AUD has been the relentless strength in the USD, as the interest rate market prices higher U.S. interest rates. Friday’s selling in AUD/USD was related to end-of-month selling associated with
AUD/USD AUD/USD closed on its lows for the week, at 0.7244. The decline in AUD/USD is below the 200-day moving average of 0.7262, which is a bearish signal. It now suggests the 200-day moving average of 0.7262 will act as short-term technical resistance. The three major reasons for the decline in AUD/USD over the last
AUD/USD After a period of diversion, the USD has again taken over as the major driver of AUD/USD. Oil price movements are also impacting the direction in AUD/USD because of Australia’s large net energy export status. Australia’s energy exports (coal, LNG, and oil) account for 23% of Australia’s total exports. AUD, despite the volatility in
AUD/USD AUD/USD endured a surge in volatility last week. After opening around 0.7500, AUD/USD lifted more than 2.0% to a high of 0.7661, before declining to close the week lower at 0.7458. The initial surge and reason for last week’s 0.7661 high in AUD/USD was because the RBA delivered a more hawkish economic statement at
AUD/USD AUD/USD has been in a relatively tight range for a week-and-a-half (0.7465 to 0.7540), as it consolidates the 4.5% appreciation it has had since the Fed lifted rates on March 16. It will take a particular catalyst for AUD/USD to break out of that range. The stronger than expected U.S. March non-farm payrolls data
AUD/USD Last week, AUD/USD closed at 0.7515, and near the high of the week. AUD continues to outperform, with the RBA’s trade-weighted index up 7.5% since the start of February. The RBA will likely be viewing the AUD’s appreciation as helpful to dampen imported inflation pressures. The RBA will not be concerned that AUD’s appreciation
AUD/USD After a week of consolidating earlier gains, AUD/USD proceeded to appreciate again, and closed last week on its highs at 0.7415. This in itself is a bullish signal, suggesting further gains for AUD/USD.One of the key reasons for further appreciation in AUD/USD is because the USD has begun to decline, despite last week, the
AUD/USD After surging to four-month high of 0.7441 in the early part of last week, AUD/USD spent the rest of the week easing lower and consolidating those gains. Helping to lift AUD/USD in the early part of the week were record highs in the prices of a number of base metals prices (of which Australia
AUD/USD AUD/USD has been remarkably strong over recent weeks. And last week’s close at 0.7370, was AUD/USD’s its highest weekly close in four-months. The reasons behind the unusual strength in AUD since the Ukraine-Russian conflict commenced was highlighted in last week’s weekly. But in a nutshell, the strength in AUD reflects a number of reasons:
AUD/USD In an unusual turn of events, AUD/USD and AUD/EUR both managed to close the week higher, despite Russia invading Ukraine. AUD also managed to close the week higher against the traditional “safe haven” currencies of JPY and CHF. The dip in AUD following the act of war only lasted a little over 24 hours.