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Forex Market: AUD/USD trades near 1 1/2-month trough, Powell’s reappointment fuels 2022 rate hike expectations

November 23, 2021 11:20 am
AUD/USD was hovering just above a fresh 1 1/2-month low on Tuesday, as Federal Reserve Chair Jerome Powell’s reappointment reinforced expectations of an interest rate hike in 2022. “The decision removes one source of uncertainty for financial markets and favours policy continuity at the Fed,” MUFG currency analyst Lee Hardman wrote in an investor note. […] Read more

Forex Market: GBP/USD extends Friday losses on dollar strength, hedge funds most bearish on Sterling since June 2020

November 22, 2021 10:44 am
GBP/USD was a notch weaker at the start of the new week, as the US currency remained underpinned by bets the Federal Reserve could tighten monetary policy sooner than expected. A flight to safety amid rising COVID-19 infections, especially in Europe, also supported the dollar. Meanwhile, Pound traders’ focus strongly set on Bank of England’s […] Read more

Forex Market: AUD/USD holds gains as upcoming inflation figures will be the next test for interest rate outlook

November 9, 2021 10:09 am
AUD/USD held gains registered in the prior trading day on Tuesday as market players awaited inflation figures in the world’s two largest economies for more clues on central bank interest rates. AUD/USD has remained within the 0.7360-0.7470 range since November 4th, but according to Commonwealth Bank strategists, risks for the Aussie are “skewed down because […] Read more

Forex Market: AUD/USD hits a six-week high as risk sentiment improves, Australian economy expected to rebound in Q4

October 19, 2021 8:38 am
AUD/USD hit highs not seen since early September on Tuesday amid improved risk sentiment as Asian shares tracked US tech equities higher as well as on indications China’s property market woes will probably be contained. The risk-sensitive Aussie dollar surged even as the minutes from Reserve Bank of Australia’s October policy meeting showed the central […] Read more