Greenback bulls had a powerful run final Friday, however AUD/USD is pausing its slide at an space of curiosity.

Will the upcoming U.S. catalysts spur one other massive transfer?

Earlier than shifting on, ICYMI, I’ve listed the potential financial catalysts that you want to be careful for this week. Verify them out earlier than you place your first trades right this moment!

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

Contemporary Market Headlines & Financial Knowledge:

China reported quickest progress in new dwelling costs in 21 months, as prices rose 0.5% month-over-month in March to mark third consecutive month-to-month enhance

Chinese language Protection Minister Li Shangfu reiterated nation’s help for Russia’s invasion of Ukraine, pledged to strengthen coordination and shut communication between army forces

New Zealand BusinessNZ companies index down from 55.8 to 54.4 to mirror slower tempo of progress in March, because the financial system cooled down and basic uncertainty set in

New Zealand’s meals value index chalked up 0.8% month-over-month achieve in March, following earlier 1.5% enhance to counsel slowing client value pressures

Value Motion Information

Overlay of USD Pairs 15-min

Danger-off movement buoyed the safe-haven greenback larger throughout the board on Friday, earlier than downbeat U.S. retail gross sales information compelled the U.S. foreign money to take a breather throughout the New York session.

Nonetheless, the Dollar managed to squeeze out extra features in opposition to the yen early on on this week’s Asian session whereas beginning on weak footing in opposition to the Loonie, Aussie, and franc.

U.S. Empire State manufacturing index at 12:30 pm GMT
Canada’s overseas securities purchases and wholesale gross sales information at 12:30 pm GMT
BOE member Cunliffe’s speech at 1:00 pm GMT
ECB head Lagarde’s speech at 3:00 pm GMT

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

AUD/USD 1-hour Foreign exchange Chart by TradingView

This pair managed to pause at its mid-channel space of curiosity, as greenback merchants appear to be reassessing what’s subsequent.

A break from the present consolidation might ship AUD/USD right down to its ascending channel backside close to the .6650 minor psychological mark.

Even stronger promoting stress might take it right down to S1 (.6620) of the Commonplace Pivot factors, which remains to be properly throughout the common day by day volatility of 75 pips.

Then again, a return in risk-on flows or a downbeat shock from the Empire State manufacturing index would possibly spur some features. This might take AUD/USD to the channel high that’s close to the R1 on the .6800 main psychological stage.