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4/23/2021 3:24:30 PM GMT Australian business´ confidence indices surged as the economy continues to improve. US upbeat data is not enough to twist the Fed’s hand, at least in the near-term. AUD/USD technical readings support a bullish extension for the time being. The AUD/USD pair seesawed between gains and losses to end the week pretty much unchanged around 0.7730. Ever since the year started, the pair has been developing in a quite shy range of 450 pips, although it managed to post a two-year high of 0.8006 in between. The Australian currency should have come out stronger in the pandemic if it was not because of China. Tensions between both countries, with the first pressuring to discover the origins of covid and the latter banning imports from the commodity-producer country. ....
Share: Australian NAB’s Business Confidence improved to 17 in Q1 from 14 previously. The sour tone of equities weighed on the pair in the last trading session of the day. AUD/USD trades around 0.7700, but bears have taken the lead. The Australian dollar was unable to retain gains against its American rival, with the pair finishing the day just above the 0.7700 level. AUD/USD started the day advancing amid gains in equities markets, reflecting investors optimism and upbeat Australian data. The National Australian Bank Business Confidence improved to 17 in Q1 from 14 previously, much better than the 7 expected. The pair took a turn to the worse during US trading hours, following reports of US President JOE Biden s plan to hike capital gains tax. Wall Street plunged with the news, with the three major indexes posting sharp losses for the day. This Friday, Australia will publish the preliminary estimates of April Commonwealth Bank PMIs. ....
4/16/2021 3:29:51 PM GMT Plummeting US Treasury yields pressured the greenback and boosted risk appetite. March Australian upbeat employment data hid a nasty secret. AUD/USD has shrugged off its long-term negative bias, but bulls still have to wait. Risk appetite took over financial markets this week, pushing AUD/USD firmly up. The pair topped 0.7760 heading into the weekend, trading a handful of pips below the level. Major currencies were once again driven by US government bond yields. It’s all about yields, still US Federal Reserve chief Jerome Powell repeated ad exhaustion that the central bank will maintain its ultra-loose monetary policy until actual data confirms an economic comeback and not just based on forecasts. However, something new on the matter surged this week. Chief Powell suggested that tapering would come “well before” considering a rate hike. The central bank has been buying $80 billion in Treasuries and $40 billion in mortgage-ba ....