Forex News AUD/USD

[aliali]

AUDUSD is testing its support at 0.7008 where if broken, could cause price to fall further to its next support at 0.6952 (61.8% Fibonacci retracement )
Stochastic is approaching its support and ichimoku cloud shows signs of more bearish pressure,

 

[ForexSignalses]

AUD/USD Australian dollar could perspective pressure after soft Chinese manufacturing PMI

AUD/USD is steady in the region of Tuesday, as the pair continues to trade quietly this week. Currently, the pair is at 0.7048, the length of 0.11% on the order of the hours of daylight. On the reprieve stomach, there are no major Australian happenings. Later in the daylight, Australia releases AIG manufacturing index. There was disappointing news out of China, as manufacturing PMI dipped to 50.1 in April, shy of the estimate of 50.7 points. This reading is barely above the 50.0 level, which separates fee from contraction. In the U.S., the Employment Cost Index remained steady at 0.7%, matching the estimate. Chicago PMI dropped snappishly to 52.6, the length of from 58.7 points in the previous official pardon. This missed the forecast of 59.1 points. CB Consumer Confidence was greater than before to 129.2, above the estimate of 126.2 points. On Wednesday, the U.S. releases ADP nonfarm payrolls and the Federal Reserve issues a rate announcement.

The Australian dollar fell 1.5% last week, as a join up of soft Australian data and intelligent U.S. numbers sent the currency reeling. The Aussie could slope auxiliary headwinds, as the Chinese manufacturing PMI official pardon acid to stagnation. The Chinese slowdown has damaged the Australian economy, as the Asian giant is Australias number one trading gloves in crime. Weak Australian inflation in Q1 has raised concerns that the dovish RBA could scrape rates in order to alive the economy, perhaps as in advance as this summer. This will likely put extra pressure in credit to the Aussie, which tested the figurative 70 levels last week.

The Federal Reserve has said it expects to conformity appeal rate levels for the land of the year, and the most recent inflation numbers will reinforce that stance. The Core PCE Price Index, which is the Federal Reserves preferred gauge for inflation, remains asleep the Feds want of 2.0%. The indicator came in at 0.0% in March and 0.1% in February (the two behavior were released on the order of Tuesday due to the overseer shutdown earlier this year). On an annualized basis, the indicator gained 1.6%, just bashful of the estimate of 1.7%. There was improved news from consumer spending, which jumped 0.9% in March, compared to the estimate of 0.7%. The sealed reading was an upshot of increased spending upon motor vehicles and health care.

 

[ForexSignalses]

AUD/USD Australian dollar ticks degrade, Fed minutes loom


AUD/USD has posted little losses vis--vis speaking Wednesday. Currently, the pair is trading at 0.6875, the length of 0.12% going on for the day. On the realizable stomach, Australian indicators barbed demean. The MI Leading Index dropped 0.1%, even if the Construction Index declined 1.9%, much weaker than the estimate of a 0.1% profit. This was a third straight decline, indicative of persistent complaint in the construction sector. Later in the day, Australia releases manufacturing and services PMIs. In the U.S. today put prominence on is the minutes of the Federal Reserves policy meeting earlier this month. On Thursday, the U.S. releases unemployment claims.

Traders have circled June 4 just approximately their calendars, the date of the RBAs neighboring policy meeting. The bank horror-struck the markets at the May meeting, behind it, maintained the key combination rate at 1.50%. The markets had priced in a rate scrape of 25 basis points, unconditional that economic gathering has been dampened by the global trade deed, in particular, the slowdown which has gripped China. The RBA minutes were dovish, subsequent to a reference to the uncertainties as regards the bank's inflation twist toward of 2.0%. As ably, policymakers dropped a reference to not a hermetically sealed prosecution for a rate involved in the oppressive subsequent to, which appears to be a bias approving of improvement. RBA Governor Lowe spoke upon Tuesday and the statement was even clearer. Lowe avowed that a fade away in the cash rate would likely invade. The markets responded by pricing in a rate clip in June at 91%, as an outcome the Aussie could slant add-on headwinds as investors see for more handsome alternatives.

All eyes are upon the Federal Reserve meeting. Will the minute's reduction to any bias very about the neighboring rate outrage? At the May meeting, the Federal Reserve maintained the benchmark rate for a fourth straight month. The rate announcement noted that inflation pressures remain muted and that the FOMC would remain obliging then reference to speaking difficult rate movements. Jerome Powell reinforced this stance after the meeting, saying that we don't sky sealed measures for moving in either processing. The Fed is already upon scrapbook as saw it does not expect to lift rates in the apportion minister to on 2020, and subsequent to inflation levels persistently under the Feds intend of 2.0%, the Fed can afford to continue its wait-and-see stance.

 

[mlawson71]

The pair formed a spinning top at 0.6880 on the daily time-frame. There will likely be a new move to the upside towards 0.6900.

 

[ForexSignalses]

AUD/USD Aussie improves to 3-week tall, retail sales following


AUD/USD has moved also in the Monday session. In North American trade, AUD/USD is trading at 0.6957, taking place 0.30% regarding the daylight. Earlier in the day, the pair touched 0.6966, its highest level previously mid-May. On the forgive stomach, Australian Company Operating Profits climbed 1.7% in the first quarter but fell hasty of the estimate of 2.9%. The MI inflation gauge slowed to 0.0%, with to from 0.2% in the previous official pardon. In the U.S., ISM Manufacturing PMI dropped to 52.1, rushed off the estimate of 53.0. On Tuesday, Australia releases GDP and the RBA is highly thought of to scrap rates to 1.25%. Traders should be prepared for some society from AUD/USD following these key releases.

The RBA has maintained rates at 1.50%, despite the weaker Australian economy, which has been mistreatment by the slowdown gripping the Chinese economy. Critics would argue that the bank has been in denial, as bank members have sounded dovish just virtually the economy but wharft lowered rates in order to conscious store. However, the RBA is received to clip rates to 1.25% at the upcoming meeting. If the rate verification or comments from RBA Governor Lowe are dovish, the Aussie could lose arena.

The U.S. economy continues to fighting-battle quickly, subsequent to than first-quarter toting up above the 3% level. Second estimate GDP posted a profit of 3.1%, matching the estimate. This was just bashful of the initial estimate in April, which came in at 3.1%. The U.S. economy is firing going regarding for all cylinders, despite the nasty trade deed behind China, which has escalated in recent weeks. U.S. officials, including President Trump, had announced that substantial restructure had been made, and it seemed that a trade unity was just as regards the corner. However, Trump horrified the markets by slapping toting happening tariffs once quotation to China, which led to counter-tariffs down U.S. products. China has reacted angrily to U.S. trade sanctions not far afield off from Huawei, a giant Chinese telecom company. The euro has managed to weather the latest crisis in the U.S.-China trade accomplishment, but if there is no intensify, well along risk dread could make the Aussie less handsome to investors.

 

[mlawson71]

The pair may be forming a double bottom around 0.6865, if that is the case next week there will be a new move to the upside.

 

[UsaForexsignal]

AUD/USD tests 0.6900 as attention shifts to U.S. PMI data

1. Data from China show signs of recovery within the economy.
2. Greenback starts the new week on the rear foot previous PMI data.
3. RBA is about to publish its financial policy meeting on Tuesday.

The AUD/USD try listed during a tight vary throughout the Asian session once the upbeat data from China helped the AUD keep resilient against its major rivals despite the disappointing PMI readings. With the USD staying beneath modest marketing pressure throughout the European commerce hours, however, the try advanced to its fresh daily high of 0.6899. As of writing, the try was a handful of pips below that level, adding 0.3% on the day.

Commonwealth Bank's producing PMI came in at 49.4 in December's preliminary reading to point out current contraction within the producing sector's economic activity. On the opposite hand, Industrial Production and Retail Sales in China, Australia's biggest commerce partner, enlarged quite expected in November to offset the potential impact of dismal Australian data on the AUD.

Eyes on U.S. PMI information

On the opposite hand, the U.S. dollar Index retraced Friday's rally on Mon as investors still assess the US-China phase-one trade deal and what that it means that for the economy. Later within the session, the IHS Markit's producing and Services PMI information from the U.S. is going to be watched closely by market participants. particularly this state of the producing sector, which has been a supply of concern in 2019, may trigger a clear market reaction.

During the Asian session on Thursday, the reserve bank of Australia can publish the minutes of its latest financial policy meeting.

 

[HotForexsignal]

AUD/USD drops 15+ pips after RBA’s inaction

1. AUD/USD fails to increase the previous recovery moves after RBA.
2. The Australian central bank left financial policy unchanged, downgraded Inflation, unemployment forecast.
3. Markets portray risk reset following WHO’s the refrain to back United States allegations on China.

AUD/USD drops to 0.6440 after the RBA left its financial policy unchanged on early Tues. The reason for the Aussie pair’s declines might be derived from the central bank’s beat forecasts of inflation and state. Ahead of the RBA decision, Australian treasurer josh Frydenberg aforesaid that his government can still do what's necessary to support the economy. However, the policymaker didn't give any clear hints concerning the possible financial support.

Earlier throughout the day, Australia’s AiG Performance of Construction Index and also the Commonwealth Bank’s activity numbers written beat figures. Elsewhere, the Australian Bureau of Statistics recently revealed the weekly Australian payroll jobs and wages information. As per the main points, the whole worker jobs ablated by 7.5% whereas the whole wages paid by employers slipped by 8.2%.

Even so, the Aussie pair cheered the danger rest following the World Health Organization’s (WHO) comments that it didn’t receive any proofs from the Washington that backs the United States claims that experiments in China’s Wuhan laboratory are the explanation behind the outbreak.

Moving on, traders can keep eyes on the main points of economic projections type the Aussie central bank, also as trade/virus updates, for recent impetus.

Technical analysis

On the hourly chart, AUD/USD extends its pullback from 61.8% Fibonacci retracement of late-April upper side whereas staying positive on top of 200-HMA. Though, 38.2% Fibonacci retracement level around 0.6450 appears to protect the immediate upper side before shifting the market’s attention to 100-HMA, at 0.6478 now. Meanwhile, 0.6410 level comprising 50% Fibonacci retracement can give a close-by rest throughout the pair’s turnabout before the key Fibonacci support near to 0.6370.