5/9/2021 11:36:06 PM GMT
AUD - Australian Dollar
The Australian Dollar closed the week at 0.7841, not far from a multi-week peak at 0.7862, off the back of Friday’s disappointing US employment figures which put the greenback in sell-off mode. Higher gold prices also provided some additional support for the Aussie. On Friday we saw the release of AIG Performance of Services Index surged to 61 in April from 58.7 in the previous month. The Reserve Bank of Australia released the Statement on Monetary Policy for the month of May 2021. Highlighting they foresee strong global growth is expected this year and next as the global economy recovers from the pandemic. Vaccine supply is increasing, which is allowing some economies to ease restrictions and open up.
5/10/2021 9:35:52 PM GMT | By Anil Panchal
AUD/USD holds lower ground after snapping three-day winning streak.
Market sentiment dwindles as traders await more clues to confirm no reflation fears.
Wall Street drops, US Treasury yields stay firmer.
China CPI, PPI for April, Second-tier Aussie data will decorate calendar, risk will be the key.
AUD/USD remains depressed towards the 0.7820 previous resistance, around 0.7830 at the start of Tuesday’s Asian session. The pair dropped the most in a week the previous day after taking a U-turn from late February tops as optimism towards Fed policy continuation fizzled. Traders look for this week’s key US inflation data but today’s China Consumer Price Index (CPI) and Producer Price Index (PPI) is also important to watch consider its trade-ties with Canberra, despite recent jitters.
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US Federal Reserve officials poured cold water on Treasury Secretary Yellen’s comments.
US macroeconomic figures may have missed expectations but indicated continued growth.
EUR/USD struggling to retain the 1.2000 level, bearish once below 1.1980.
The EUR/USD pair trades around the 1.2000 level, posting modest daily losses. The shared currency was the worst performer, as an upbeat market’s mood put some pressure on the greenback against other rivals. Stocks edged higher in Europe and America, as despite missing expectations, US data kept pointing to substantial economic progress. Meanwhile, different Federal Reserve officials poured some cold water on Treasury Secretary Janet Yellen about higher rates. Fed’s Evans said that they are not in a hurry in any way to talk about tapering, while Fed’s Rosengren noted that significant slack remains in the economy, adding that inflation and inflation expectations look stable.
5/6/2021 4:39:04 AM GMT | By Dhwani Mehta
EUR/USD remains vulnerable ahead of fresh US data.
Macroeconomic divergence weighs on the euro.
DXY bounce amid worsening mood adds to the bearish bias.
EUR/USD is pressuring the downside around 1.2000, looking to test two-week lows of 1.1986, as the US dollar has caught a fresh bid-wave amid worsening market mood.
A fresh wave of risk-aversion gripped Asia after China’s state planner announced that the government has decided to put an end to the strategic alliance with Australia, as the ties deteriorate. Asian stocks ex-Japan tumbled while the S&P 500 futures erased gains, lifting the safe-haven appeal of the US dollar.