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AUD/USD remains pressured ahead of RBA, FOMC
This week could potentially be pivotal for AUD/USD, as the Reserve Bank of Australia and the US Federal Reserve will both be announcing key interest rate decisions – the RBA on Tuesday and the Fed on Wednesday.
Is Heightened Market Volatility Here to Stay?
As major equity indices briefly entered correction territory last week – with the Dow Jones Industrial Average falling by over 1100 points in one day on February 5th, its largest single-day drop ever – volatility came roaring back into the markets after an unusually quiet and complacent 2017.
EUR/JPY extends fall from highs as euro stumbles, yen surges
Amid the euro’s pullback this week from long-term highs against both the US dollar and Japanese yen, the Bank of Japan reduced its purchases of Japanese government bonds on Tuesday, leading to some knee-jerk speculation that the central bank could wind down its massive stimulus program at some point in the foreseeable future.
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Markets flee back to safety as Trump risks mount
After a prolonged risk-on market environment, where it seemed that nothing short of catastrophe could faze investors, this week has finally seen a marked return to elevated risk aversion and higher market volatility. On Wednesday, this risk-off sentiment continued to be driven in large part by US political concerns, after fired FBI Director James Comey was reported to have written a memo months ago detailing President Trump’s private request to end an investigation into Michael Flynn, Trump’s former national security adviser.
GBP/JPY approaches critical resistance ahead of Bank of England decision
Boosted largely by a sharply extended fall in the Japanese yen, GBP/JPY rose to a new year-to-date high on Tuesday, approaching key resistance around the 148.00 handle and re-testing December’s highs. As Frexit concerns have dissipated for the time being after pro-euro Emmanuel Macron was voted in as President-elect of France over the weekend, currency market focus has shifted back to the beginning stages of UK/EU Brexit negotiations, the UK’s snap election in June, and the Bank of England’s monetary policy decision on Thursday.
AUD/JPY bounces off key support
The AUD/JPY has bounced strongly off a key support level today, suggesting that the recent downward trend may have come to a halt, at least for the time being anyway. We have also seen a correspondingly sharp rally on Wall Street, suggesting that the appetite for risk is still there despite the recent weakness and uncertainty about French elections on Sunday. But for now, we will take this bounce with a pinch of salt as it could be a ploy to trap the bulls before the next leg down.
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