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  • Editor’s Picks / Yesterday at 23:36 GMT

    Reserve Bank of Australia gets ready to fight the Fed

    Business Spectator
    For once, the Reserve Bank of Australia decided not to surprise the market and delivered on what was a well anticipated move on May 5: a 25 basis-point cut to a record low of 2%. While there is no clearly stated bias to cut again, there is a clear easing bias. This is the key take from the RBA decision: the signal that the RBA is prepared to fight the Fed as it continually backs away from a hike. The Australian dollar is the clear target and the board reiterated that it wants it lower – and a little more forcefully. It’s an interesting stance to take, especially at a time when the key economic data is accelerating.
    Read article on Business Spectator
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  • Article / Yesterday at 14:59 GMT

    FX Board: USD ignores strong data

    Head of FX Strategy / Saxo Bank
    FX Board: USD ignores strong data
    The USD was unable to sustain a rally stance today even after a strong ISM non-manufacturing survey for April. Weakening risk appetite in Europe may be the culprit as the "Macro trade of the year" has gone wrong lately.
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  • Article / Yesterday at 7:25 GMT

    FX Update: AUD rallies, but USD chomping at the bit

    Head of FX Strategy / Saxo Bank
    FX Update: AUD rallies, but USD chomping at the bit
    AUD jumped as the RBA’s guidance was seen as neutral, even as they cut rates as expected. The rally may not last in AUDUSD, though that pair will be highly data-reactive for the rest of the week. The next US data point in the cross-hairs is today’s April US ISM non-manufacturing survey.
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  • Squawk / Yesterday at 6:37 GMT
    Founder, Owner, Director / Market Chartist
    United Kingdom
    AUDUSD Bull Tone Intact, Post (and Pre) RBA

    A further dip lower Monday, but then a minor bounce effort reinforced by the post-RBA rebound to signal a small base and for the downside corrective phase to be concluding.
    This now sees bias for a rebound back higher into midweek and for the bullish pressures from latter April to resurface.
    We still see upside risks for May from the rally through .7938, that defined a base and the push above chart/ retrace resistance at .8027 and .8062 that set a more bullish outlook.

    For Today:
    The break above our initial target at .7893, sees an upside bias for .7926.
    But below .7800/.7790 opens risk down to .7761 and .7707/02, maybe key .7679, which we would look to try to hold.

    Short/ Intermediate-term Outlook - Upside Risks:
    We see a more positive tone with the bullish threat back to the new recovery peak at .8076, then to .8137.
    Above here targets key levels at .8224/34 and .8295.

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  • 19h
    Ghulam Muhiuddin Ghulam Muhiuddin
    Yesterday's Euro Buy Limit Still Valid ? or have to cancel ????
    Max McKegg Max McKegg
    Yes, still valid