Each the U.S. and Australia are printing financial reviews within the subsequent buying and selling classes so you’ll be able to wager that I’m taking a look at AUD/USD right this moment!

Will AUD/USD proceed to make new intraweek lows?

Earlier than shifting on, ICYMI, yesterday’s watchlist checked out USD/JPY’s intraday bearish momentum for a possibility to leap on the pair’s uptrend. Remember to take a look at if it’s nonetheless a legitimate play!

And now for the headlines that rocked the markets within the final buying and selling classes:

Recent Market Headlines & Financial Knowledge:

BOJ’s core CPI inched larger from 2.7% to 2.9% y/y in March

Japan’s enterprise providers inflation up by 1.8% in FY 2022 (from 1.2% in 2021), the quickest improve since FY 2014

BOJ Gov. Ueda maintained that “it’s acceptable to keep up financial easing” for now but additionally stated that BOJ stands prepared to boost rates of interest “if wage progress and inflation accelerates sooner than anticipated”

Switzerland’s commerce surplus widened from 3.31B CHF to 4.53B CHF in March as exports grew by 19.9% m/m whereas imports rose by 15.9% m/m

U.Ok.’s public sector web borrowing got here in at 21.5B in March – the second-largest March borrowing on report – as the federal government continues its vitality help schemes

Value Motion Information

Overlay of AUD Pairs 15-min

Asian session merchants tried to increase upticks seen within the U.S. session however, with not plenty of top-tier information on faucet, markets had time to cost of their progress issues.

AUD, particularly, took further hits as talks of China’s banks being pressured to decrease their deposit charges hit the markets.

It additionally didn’t assist that Australia’s CPI scheduled within the subsequent Asian session buying and selling is anticipated to print decrease acceleration in Q1 which can help RBA’s plans to pause its price hikes.

AUD broke beneath its U.S. session lows and made new intraweek lows with minimal pullback in the beginning of London session buying and selling.

Upcoming Potential Catalysts on the Financial Calendar:

U.Ok.’s CBI industrial order expectations at 10:00 am GMT
U.S. home worth index at 1:00 pm GMT
U.S. CB client confidence at 2:00 pm GMT
U.S. new dwelling gross sales at 2:00 pm GMT
U.S. Richmond manufacturing index at 2:00 pm GMT
New Zealand’s commerce stability at 10:45 pm GMT
AU quarterly CPI at 1:30 am GMT (Apr 26)
NZ bank card spending at 3:00 am GMT (Apr 26)

Use our new Forex Warmth Map to shortly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️

AUD/USD 15-min Foreign exchange Chart by TradingView

AUD/USD, which made new intraweek lows a number of hours earlier, seems set for a little bit of a bounce after seeing consumers on the Normal Pivot Factors‘ S2 ranges (.6650).

The U.S. CB client confidence, new dwelling gross sales, and Richmond manufacturing index reviews in addition to Australia’s awaited CPI report ought to make issues fascinating for AUD/USD’s intraweek worth motion.

As we noticed final week, disappointing U.S. reviews introduced on threat aversion that damage AUD greater than USD. Add to that expectations of client worth deceleration in Australia and it’s extra probably that we’ll see AUD/USD promoting.

I’m wanting on the space between right this moment’s Pivot Level and the S1 (.6670) line. As you’ll be able to see, it served as a help zone on Friday and on Monday.

A rejection after which bearish momentum on the degree might make for a superb entry level in case AUD/USD begins a sustained intraweek downtrend.

But when the U.S. and Australia’s reviews end up constructive for risk-taking, then I may take into account shopping for at present ranges and aiming for right this moment’s highs.