A bullish golden cross (50-period SMA crossing above the 200-period SMA) has formed on the AUD/USD daily chart. The Aussie has been supported by upbeat Chinese and Australian data, while the US dollar lost some of its safe haven appeal amid positive US and European economic data.
Learn about the fascinating world of market cycles in this interview with the globally recognized expert Andrew Pancholi.
The Australian dollar and the S&P/ASX 200 stock index were shaken after White House trade adviser and outspoken China critic Peter Navarro said the trade deal between Washington and Beijing was “over”.
TradingView attracts forex, CFD, cryptocurrency, futures, options and stock traders from every corner of the market.
You might wonder, why TradingView is so popular amongst different categories of traders. How is it possible to cater to them all?
Gold prices inched higher in early trading on Thursday, as an increase in coronavirus cases threatened to derail economic recovery from the pandemic. A more dovish than expected June FOMC meeting has also bouyed the yellow metal.
Risk appetite returned to the market on early on Tuesday as the US Federal Reserve prepared to begin purchasing up to $250 billion in individual corporate bonds. In addition, a report from Bloomberg stating that the Trump administration is preparing a nearly $1 trillion infrastructure proposal helped to lift investors spirits.
The US dollar advanced against risk-sensitive currencies including the Australian dollar, New Zealand dollar and Canadian dollar in early trading on Thursday. The move came after a gloomy economic forecast from the Fed and reports of rising coronavirus cases in the US.
Gold edged higher in early Tuesday trading, lifted by a weaker US dollar as investors eye the Federal Reserve meeting set to conclude on Wednesday. Meanwhile, inceased risk appetite and robust equity markets threaten to keep a lid on the yellow metal’s price.
Gold prices fell by 2% on Wednesday as stocks rallied on hopes of a faster than expected recovery from the fallout of the coronavirus pandemic. Meanwhile, investors shrugged of the historic civil unrest in the United States and US/China trade tensions.