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The Pound to Australian Dollar has had a strong run higher in the previous week as falling commodity prices hit the outlook for the Australian economy. we now note some signs of a potential overbought scenario in the pair.
The Australian Dollar changed little after the Reserve Bank of Australia (RBA) rate meeting but it did mark a highpoint for the currency from which it spent the rest of the day falling.
The Pound to Australian Dollar rose strongly in the previous week after Theresa May’s announcement to hold an election in June but it has now reached uncomfortably close to a level which is likely to cap future progress higher.
A report from the Australian government has given a negative forecats for iron ore - but is the report really that negative about Australian trade in general, and what are the implications for the exchange rate?
The Australian Dollar fell against most counterparts on Monday morning after the release of February Retail Sales data showed a disappointing decline in February.
The Australian Dollar is likely to weaken over the medium term because of the twin effects of a fall in Chinese demand for Australian commodities and slowing wage growth.
EUR/AUD has been sliding lower in a neat descending channel over the last ten months, recently it flirted with a key overhead level - will it push higher or begin a new more bearish phase instead?
The GBP/AUD pair has moved successively lower as the Pound has depreciated due to Brexit fears and the Australian Dollar has gained strength mainly from rising commodity prices.
Iron Ore traders were the most pessimistic group in a recent survey of commodity practitioners by international commodity and financial services conglomerate Macquarie.