Scope Markets Blog | Latest Forex News And Updates For 2020

AUDUSD bears return as rally loses steam

The Australian dollar has been on the front-foot in the wake of the RBA meeting minutes, with markets reacting to their data dependent outlook. However, that risk-on rebound for AUDUSD may be short-lived given the ongoing concern within markets that have benefitted the US dollar. Yesterday’s retail sales reading brought continued confidence of strong consumption […]

by Joshua Mahony
1 year ago

Strong GDP and retail sales data fails to lift market sentiment

European markets are following their Asian counterparts lower in early trade today, with Middle East concerns overshadowing a raft of strong data out of the US and China. At a time when markets are increasingly focused on corporate earnings, yesterday’s buoyant retail sales release helped lift the outlook for both main street and wall street […]

by Joshua Mahony
1 year ago

Earnings Preview: Microsoft, Amazon & Exxon Mobil

Microsoft – Tuesday 24 October Tech giant Microsoft report their Q1 FY24 earnings after the US markets close on 25 October. Following a tumultuous 2022, Microsoft shares have been enjoying an impressive 2023 thus far. However, the past three-months have seen cracks appear in the bullish story, with the stock having lost approximately 10% since […]

by Joshua Mahony
1 year ago

RBA minutes boost AUDCNH, but downtrend signals potential turn

The Australian dollar has enjoyed a boost today, following on from the RBA meeting minutes released overnight. While the last meeting had seen new Governor tout a remarkably similar line to her predecessor, these minutes highlighted a willingness to act again if necessary. That data dependency should bring greater sensitivity to future data out of […]

by Joshua Mahony
1 year ago

Market update: RBA minutes, UK wages and US bank earnings

Minutes from the RBA brought a surge for the AUD, with markets realising that the latest hike may not necessarily represent the end of the tightening process. With new Governor Michele Bullock at the helm, she clearly felt the need to await further data before deciding whether additional rate hikes were necessary. That data dependency […]

by Joshua Mahony
1 year ago

AUDNZD reversing upwards from trendline support

The antipodean currencies have enjoyed a period of relative strength of late, with Chinese concerns easing and a number of key commodities gaining ground. However, when comparing both the Australian Dollar to the Kiwi, we can see that the recent trend has generally favoured the latter. Looking at the wider AUDNZD chart, price has declined […]

by Joshua Mahony
1 year ago