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Lower highs followed by lower lows represents 2024 moves in the Euro (EUR), Australian Dollar (AUD) cross to date. The trend last week supports further weakness in the Aussie after a bounce off 0.6080 (1.6450) multiple support line to current prices at 0.6055 (1.6515) as I write. A retest of last week’s low is the…
The Euro (EUR), Australian Dollar (AUD) continues to bounce around recent levels without much conviction. The cross sits at the edge of range resistance this morning at 0.6080 (1.6450) after coming from the bottom of the band at 0.6025 (1.6600) mid last week. The ECB continues to worry about high inflation while they cut growth…
The New Zealand Dollar (NZD) reached 0.4990 (2.005) against the British Pound late in 2023 the May high before falling back sharply as 2024 got underway. Boosted by risk off flows the Pound has extended gains to 0.4860 (2.0560) this morning. UK GDP has fallen by 0.2% in the 3 months to November compared with…
Contact us for a free online quote Australia Over the past few days the Australian Dollar has benefited from some positive sentiment, rallying the AUD across the board to reach to reach an eight week high of 0.7010 against the greenback. This week’s Reserve Bank of Australia is the main event on the Australian economic calendar…
The New Zealand Dollar (NZD) has dropped to a yearly low of 0.4713 (2.1215) this morning against the English Pound (GBP) breaking through late March daily support at 0.4730 (2.1130). Today’s NZ employment data has shown a further softening to the job’s market in the first quarter of 2024 with the unemployment rate rising to…
The Australian Dollar (AUD) opened the week in similar zones around 0.6600 against the US Dollar (USD) as markets await today’s RBA rate decision. If anything, The Aussie has pushed up a little in early morning trading from 0.6580 on positive Chinese Retail Sales data printing at 3.7% y/y vs 3.0% expected- 2.3% prior. Today’s…