The AUD/USD pair struggled to capitalize on its attempted intraday recovery from a support marked by the lower end of a short-term descending trend-channel. Slightly oversold conditions on hourly charts prompted some short-covering move at the start of a new trading week, albeit lacked any strong bullish conviction. Meanwhile, technical indicators maintained their bearish bias
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Boris Johnson gets additional support from Matt Hancock. Increasing chances of a break to Brexit deadlock. Politics remain on the spotlight amid lack of economic data on hand. While overall US Dollar (USD) strength continues to dominate market sentiment, the GBP/USD pair recovers to near 1.2600 as an outcome of the UK PM’s race becomes
Analysts at Wells Fargo, estimate that the Federal Reserve could cut its monetary policy rate two times during 2019. They forecast one 25 bps cut in July 2019 and another cut in Q4-2019 and the Fed funds range to remain unchanged at 1.75%-2.00% in 2020.  Key Quotes:  “Inflationary pressure remains modest. We do not expect
Last week it was the worst King dollar is back on the throne. Last week there was fear about Mexican tariffs and this week there was relief. Or last week there was excitement about Fed cuts, now there is worry they won’t materialize. I think it’s instructive to combine the past two weeks. That tells
BusinessNZ / BNZ PMI for manufacturing  – big drop on the month.  lowest level of overall activity since December 2012 production sub index (46.4) at its lowest value since April 2012 proportion of positive comments for May (54.3%) improved from April (48.9%) BNZ “the PMI sends a warning signal for near term growth via its
Traders await data from the key customer to validate RBA’s rate cut fears. Souring US relations with China and Iran also questions trade sentiment. Having witnessed another day of losses piled due to heightened expectations of the RBA’s rate cut, the AUD/USD pair shows little moves near 0.6920 as investors await China data during the