Should We Be Wary of the Rise in Oceania Currencies Amid Falling Oil Prices?

Should We Be Wary of the Rise in Oceania Currencies Amid Falling Oil Prices?

22.08.2022

Last weekend, the U.S. dollar remained strong as the Dollar Index traded at elevated levels. The EUR/USD pair fell by approximately 60 pips from 1.0094 to 1.0033. During today’s Asian trading session, it hit a new low, dropping to 1.0023. We will closely monitor price movements heading into the European session to see if the decline continues and breaks the year’s low of 0.9952.

Among European currencies, the pound has been notably weak, with GBP/AUD falling approximately 140 pips from 1.7289 to 1.7143. This decline was accelerated by the strength of Oceania currencies, which has been moving in the opposite direction to the drop in oil prices. The pair has continued to fall during today’s Asian trading session, and GBP/AUD is currently trading around 1.7150.If the pair continues to decline, we would first set a target at 1.7115, the recent low on the 4-hour chart.

Aside from the Chicago Fed National Activity Index scheduled for 9:30 PM, no major economic indicators or speeches by key officials are expected today.There are no major central bank policy rate announcements scheduled for this week; the only notable event is the Jackson Hole Symposium in the U.S. this weekend. Federal Reserve Chair Powell is scheduled to speak on Friday, the 26th, at 11:00 PM. We will be watching closely to see what stance he takes on quantitative tightening (QT) during his Friday speech.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?