Forex Market Commentary
21/8/2019
GBPUSD
The Pound rose on Tuesday, currently trading at 1.2162(+35 pips) against the greenback. The catalyst behind the pound’s rally was due to rising optimism of a soft Brexit after the statements released by German Chancellor Angela Merkel indicated that she remains firm on the EU Brexit deal, which caused the cable pair to appreciate. Early tomorrow morning, markets will be keeping a close eye on the Federal Open Market Committee minutes as it will be released on Thursday 04:00 AEST. Traders will be looking out for clues concerning further rate cuts in the upcoming months.
https://www.aetoscg.com/en-au/market-commentary.html
Forex Market Commentary
22/8/2019
GBPUSD
The Pound fell on Wednesday, currently trading at 1.2130(-31 pips) against the greenback. There was little economic data releases on Wednesday as the FOMC minutes was the only price mover. Following the minutes release, couple of policy makers are seen to have preferred a 50 basis point interest rate cut to address low inflation levels. And of course there was the expression of concerns of the 3month against the 10 year yield curve inversion. On the Brexit side of things, German Chancellor Merkel challenged UK Prime Minister Boris Johnson to come up with a solution to avert a no-deal Brexit in the next 30 days. On the data front, UK released their Public sector net borrowing for July, coming in at £1.97B, losing to market expectations of £2.65B. For today, nothing major is set to be released, with only the US Continuing jobless claims for August that is set to be released at 22:30 AEST.
https://www.aetoscg.com/en-au/market-commentary.html
Forex Market Commentary
16/12/2019
AUDUSD
The AUD fell by 50.2 pips against the USD on Friday (December 13th), currently trading at around 0.6877. The Aussie dollar pulled back following signs that a phase-one deal may not strong enough to push the AUD higher. In contrary, the US has been greatly confident in the press even when the Chinese officials shown a more wary tone in their press conferences after the US announcements, though there is confirmation that both superpowers have reached an agreement in principle. Moreover, no comprehensive written or even a detailed outline of the deal submitted by either country. There’s no major economic data release today by either the US or AU but tomorrow at 11.30 AEDT traders are watching RBA meeting minutes.
https://www.aetoscg.com/en-au/market-commentary.html