Aussie Dollar Nosedives As Buyers Fail Once Again

Aussie Dollar Nosedives As Buyers Fail Once Again

By: Darryl Frankfort | Where To Trade | On:12-01-2015 14:42
Back

Key Highlights

  • Aussie dollar was one of the biggest losers of the past session as it moved lower against the US dollar and traded towards the 0.8130 support area.

  • AUDUSD was down more than 100 pips and look unstoppable at the moment.

  • South African Manufacturing Production released by the Statistics South Africa declined by 2.1% in November 2014, compared with the preceding month.

  • Indian Cumulative Industrial Output released by Ministry of Statistics and Programme Implementation increased by 2.2% in November 2014, compared with the last gain of 1.9%.

  • Indian Industrial Output increased by 3.8% in November 2014, compared with the decrease of 4.2%.

  • Indian Manufacturing Output was also released which increased by 3% in November 2014, compared with the decrease of 7.6%.

  • EURUSD also fell a bit lower during the London session, but was supported around 1.1800

  • GBPUSD continued to perform better compared to the EURUSD pair which is a positive sign.

US Labor Market Conditions Index

Earlier during the NY session, the US labor market conditions index (LMCI) was released. The outcome on the higher side as the index increased from 2.9 to 6.1. The labor market conditions index is a primary source of common variation among 19 labor market indicators. The US dollar buyers were not impressed by the outcome, as the US dollar was seen trading lower after the release. The EURUSD and the GBPUSD pair managed to gain bids and recover the ground. The EURUSD pair bounced and traded back above the 1.1820 resistance area and looks set for more gains in the near term.

London Session Recap

There was no economic release in the Euro area and the UK today, which kept the market quiet during the London session. However, the Aussie dollar collapsed against the US dollar. It is important to note to that there was no major impact on the AUDUSD pair during the Asian session despite bad Australian home sales report. However, it looks like that the AUDUSD pair sellers realized it later as the pair traded more than 100 pips lower during the last few hours.

The Australian Home Loans report was released by the Australian Bureau of Statistics earlier today. The market was expecting it to increase by 2% in November 2014, compared with a month earlier. However, the result was not that good, as Australian Home Loans declined by 0.7%. Furthermore, the total value of dwelling finance commitments excluding alterations and additions decreased by 1.0%. This might be one of the reasons for the Aussie dollar moving lower.

Technically, the AUDUSD pair traded toward the 0.8130-20 support area where it just managed to hold the downside. The main reason was finding support around that area is the fact that the 100 hour moving average was sitting around the same area. One more critical point to note was that the 200 hour moving average is also positioned around the same area. So, one might say that 0.8120 is a monster support for the pair.

EURUSD Slow and Steady Uptrend

EURUSD Slow and Steady Uptrend

By: Ben Myers | Where To Trade | On:02-05-2015 11:21

Euro traded higher versus the US Dollar Intraday, and registered a new weekly high as buyers were optimistic after a report which points that better growth is possible in the Euro Area.

Euro Above 1.1200 And Looks Set For More Gains

Euro Above 1.1200 And Looks Set For More Gains

By: Simon Furman | Where To Trade | On:30-04-2015 11:11

Euro continued to gain momentum against the US dollar as the latter one weakened recently, which means there is more room for gains in the EURUSD pair.

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

By: Oliver Miller | Where To Trade | On:29-04-2015 11:06

UK Nationwide Housing Prices highlighting the value of the houses prices in UK and indicate current movements in the housing market posted an increase of 1% in April, compared to the preceding month.

EURUSD Looks Set To Break 1.0920

EURUSD Looks Set To Break 1.0920

By: Darryl Frankfort | Where To Trade | On:28-04-2015 10:53

Euro managed to gain bids during the London session against the US dollar, and it looks like the pair might break the recent high of 1.0920 to trade close to the 1.0950 level.

FX Market Continues To Consolidate Post Dollar Losses

FX Market Continues To Consolidate Post Dollar Losses

By: James Ansher | Where To Trade | On:27-04-2015 10:46

US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound

StockPair

Press Release

YesOption Voted Best Technical Analysis by DailyForex

YesOption Voted Best Technical Analysis by DailyForex

August 12, 2014 - London, UK, - Leading online forex and binary options trading platform - www.yesoption.com has once again made the news by being awarded the prestigious award of ‘Best Technical Analysis of 2014’ ...
24option binary options broker review

24option binary options broker review

Plus500Findings.com is recently launched online to help traders decide which broker they could open an account. 24Option, one of the popular trading platform online is reviewed whether it is legitimate broker or scam. This reviews and findings are of great benefits for traders, especially for those novice ones, who are just starting in the trading industry. ...
Banc De Binary Expands Investment Research Service

Banc De Binary Expands Investment Research Service

Leading Investment Firm, Banc De Binary, which specializes in binary options trading, has added a new weekly video series and trading webinars to the investment research service that it provides to its clients. ...

Articles

Citigroup Inc. is to pay $25 million amends

Citigroup Inc. is to pay $25 million amends

Citigroup accepted to pay the amends without denying the accusation ...
Netflix added 7.1 million new subscribers

Netflix added 7.1 million new subscribers

Netflix Inc. managed to add in the last quarter of 2016 more subscribers than expected ...
The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy ...
StockPair

Featured Listings