AUD USD: Weekly Review 11 to 15 February 2019

A quit week after opening at $0.70880 draw a green bar, by a little support from positive Aussie economic data, to close at $0.71400, a relatively small increase of $0.00520.

Though on Monday AUD start on risk sentiment, with doubt on risks related to US China trade wars, registered a loss of $0.00263.

AUD USD Weekly Review for the week February 11 to 15 2019

With all the pairs AUD performed well except New Zealand dollar thanks to dovish than expected Monetary Policy Statement on Wednesday.

On Thursday and Friday, AUD rallied steadily higher, after Westpac Consumer Sentiment Index 4.3% against January's -4.7%.

AUDUSD: Aussie Intraday Forecast 08 February 2019

Traders are in selling mood, the RBA (Reserve Bank of Australia) also released a much dovish SoMP (Statement of Monetary Policy) keep the Australian dollar in bearish mood.

RBA in a statement, revised downwardly its growth forecast for GDP substantially. In GDP forecast, RBA now projects 2.8 percent year to year for December 2018, 3.0 percent for December 2019, lesser 2.7 for December 2020 and same for December 2021.

Australian policy makers said the prospect of a rate hike or rate cut is more evenly balanced than previously thought. They also do not see any strong case to change rates in near future.

Australian Statement of Monetary Policy February 2019

As of 05:00 UTC the AUD trading at 0.7074 ~ 0.7075. As there no more events or news that can affect economy or traders mind, 0.70 may turn to be a support.

AUDUSD Strong selling mood of traders reflect in strong bearish movement.

The price may go up until 0.71xxx or go below 0.70xxx
The intraday forecast for AUDUSD:
Today opened at 0.71022, touched High of 0.71052, went Low to 0.70606

Right now struggling at 0.7.07 even though the traders are slowly changing mood from selling to buying. But being last day of the week, we cannot expect much change.

XAUUSD: Gold poised for deeper correction

Precious yellow metal poised for deeper correction, before stabilize to $1320.00
On Wednesday it closed on $1306.30 and now hovering at $1307~1308
Expected range today is 1303 ~ 1310
If GOLD raise to 1310 new support will be formed or new resistance will be formed around 1303.

XAUUSD hourly chart on 07 February 2019

AUDUSD Expected Interest Rates by RBA Kept Currency Positive

Aussie touches high today 0.72644, but struggling to keep momentum despite strong jobs projections. Now price floating around 0.724XX, unlikely much fluctuation today as there is no event that will affect the AUD/USD pair.

Seasonally adjusted Domestic Retail Sales dropped to 0.4 percent for December 2018 against estimated 0.5 percent. Trade surplus for Australia went upto 3681 Million A$ as imports drop of 6 percent.

As US - China trade talks gives optimistic outlook, also give AUD a little boost against greenback,
It is unlikely to reach or cross 0.7300 US Dollar.

AUD USD Hourly Chart 05 February 2019

GBPUSD Weekly Review Jan 28 ~ Feb 1 2019

Sterling pound is fully bearish except on Wednesday, following dovish FOMC.

British currency opens on Monday at 1.31830 and touches high sameday at 1.32118, but bearish force GBP to register red bar. On Friday it touches low point 1.30433, recovered a bit to close on 1.30744

After six bullish weeks in a row, gain of 4.0 percent, a 0.93 percent loss, due to traders confusion over British stand on BREXIT. Overall, British PM Theresa May failure to convince government stand, GBP failed to advantage of weaker US Dollar.

    Open (on Monday, 28 Jan 2019) 1.31830
    High (on Monday, 28 Jan 2019) 1.32118
    Low (on Friday, 1 Feb 2019) 1.30433
    Close (on Friday, 1 Feb 2019) 1.30744
Weekly loss of GBP (British Pound) against US Dollar is -0.01230 (-0.93 percent)

GBPUSD Hourly Chart Weekly Review 28th Jan to 1st Feb 2019

EURUSD Weekly Review Jan 28 ~ Feb 1 2019

Despite last Thursday (25th January) Euro sees a hike of nearly .9 percent in one day, failed to register same momentum following days. Warning signs from German and Italy also a concern that keep the currency bit lower, but still in bullish slopes.

Still a weaker greenback keep pushing Euro in green bar. As for as EURUSD, still who looses the race will be decided by 'weaker' currency.

Anyway, for the EUR/USD pair, it will be the battle of the 'less-weak' currency.

    Open (on Monday, 28 Jan 2019) 1.14000
    High (on Thursday, 31 Jan 2019) 1.15143
    Low (on Monday, 28 Jan 2019) 1.13901
    Close (on Friday, 1 Feb 2019) 1.14540
Weekly gain of Euro against US Dollar is +0.00482 (+0.42 percent)

EURUSD Hourly Chart 28th January to 1st February 2019

XAUUSD Weekly Review Jan 28 ~ Feb 1 2019

After breaking the psychological barrier and long time resistance $1300 by previous week, this week same resistance somehow turned into support. This week XAU traded above $1300, mostly bullish except Friday after USD get some relief and profit booking activity, finally closed at $1317.27. The price movement touched $1326, got some pullback only, unlike when GOLD touched this level last year, hit by a mass selling frenzy. But some traders profit booking urge is quite understandable.

After Friday's better than expected Non-Farm Payroll strengthening the greenback, slight reversal in precious yellow metal price, that too only 0.3 percent.

In overall it a fine weak for XAUUSD

Open (on Monday, 28 Jan 2019) 1303.00
High (on Thursday, 31 Jan 2019) 1326.30
Low (on Monday, 28 Jan 2019) 1297.85
Close (on Friday, 1 Feb 2019) 1317.27

XAUUSD Hourly Chart

AUDUSD Weekly Review Jan 28 ~ Feb 1 2019

AUDUSD start the week slowly, reddish on Monday and Tuesday by Wednesday, records a hike of 1.28 percent and touched peak high of 0.72593 on Thursday after Australian CPI data and correcting itself on Friday by closing itself at 0.72464. Still on green weekly bar which open at 0.71751, a 0.94 percent improvement.

Open (on Monday, 28 Jan 2019) 0.71751
High (on Thursday, 31 Jan 2019) 0.72593
Low (on Tuesday, 29 Jan 2019) 0.71380
Close (on Friday, 1 Feb 2019) 0.72464

On Friday US NFP surge for January pulls Aussie to close before AUD touches 0.73000

AUDUSD Weekly Review 28th January to 1st February 2019

Non-Farm Employment Payrolls Surge by 304,000 despite government shutdown

The U.S. Bureau of Labor Statistics reports nonfarm payroll employment surge by 304,000 and unemployment rate up to 4.0 percent in January,

Nonfarm payrolls surging by 304,000, debilitate expectations 165,000 despite a government partial shutdown.

The unemployment went higher to 4 percent, moving from expected 3.9 percent.

It was a substantial show at a time when business analysts assumes to slowdown in 2019 January.

Non Farm Payroll @ 304,000 for january 2019

AUDUSD Chinese PMI Disturbs Bullish Trend!

Aussie declined from two month high 0.72952 after China's weaker Manufacturing PMI at 48.3 (expected 49.5), trading around 0.72365 and slowly recovering to  0.72600.

It also waiting for Non-Farm Employment Change and Unemployment Rate to be announced in few hours. If there are any unexpected outcome will decide on AUDUSD signal as well.

AUDUSD Price affected by Chinese PMI