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Tag - aud - australian dollar
The stocks rally takes a pause amid the deteriorated sentiment. Let’s discuss what drives the market today.
NZD/JPY pair is trading Tenkan Sen and Kijun Sen level. An upward wave would lead the pair into higher ground, confirming the bullish scenario.
The overall sentiment remains upbeat amid vaccine hopes and improved US-China relationships. Let's have a closer look.
Stock futures rose in the beginning of the week, setting stocks up to add to last week’s record levels as markets reacted to positive developments over the COVID19 treatment.
The market focus today will be on politics, with the attempt in the United States to get a new fiscal policy package and the relations with China.
The consolidation that started on Wednesday is continuing so most currency pairs with the USD are going flat.
The advance of S&P500 came as shares of big tech stocks rallied and reflected the trend of the past months of this year in equity markets.
The sentiment is indeed risk-on today! S&P 500 surged to the all-time high, and EUR/USD jumped to levels unseen since May of 2018. Let’s have a closer look.
USD/JPY: The pair is now trading within the cloud. Any decisive movement to the south will lead USD/JPY to exit the Kumo, confirming the bearish scenario.
GBP/JPY: the pair is now trading slightly above the Kijun Sen. A failed attempt to move higher will lead GBP/JPY below the Kijun Sen.
AUD/USD is now poised to test the hurdle at 0.72045