Home Forex Every day Foreign exchange Information and Watchlist: AUD/USD

Every day Foreign exchange Information and Watchlist: AUD/USD

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Every day Foreign exchange Information and Watchlist: AUD/USD

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Australia printed weaker than anticipated jobs knowledge earlier right this moment.

Can AUD/USD break beneath its head and shoulders neckline when the U.S. PPI is launched?

Earlier than shifting on, ICYMI, yesterday’s watchlist checked out GBP/USD’s channel assist take a look at after the U.Ok. printed weak CPI knowledge. Make sure you try if it’s nonetheless a sound play!

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

Contemporary Market Headlines & Financial Knowledge:

U.S. Jan retail gross sales surged by 3.0% m/m vs. projected 1.9% rebound

U.S. Jan core retail gross sales rose 2.3% m/m vs. estimated 0.9% uptick

Empire State manufacturing index improved from -32.9 to -5.8 in Feb

U.S. industrial manufacturing fell flat in Jan vs. estimated 0.5% m/m enhance

Goldman Sachs lowered recession odds from 35% to 25%

EIA crude oil inventories rose by 16.3M barrels on SPR launch

Japanese Dec core equipment orders rose by 1.6% m/m vs. estimated 2.7% achieve

Japan’s commerce deficit balloons to document 1.82T JPY as Chinese language exports stoop

Requires RBNZ fee hike pause enhance on cyclone’s nationwide emergency

Australia’s MI inflation expectations slowed from 5.6% to five.1% in Jan

Australian financial system misplaced 11.5K jobs in Jan vs. estimated 19.8K enhance

Australia’s Dec employment change determine downgraded from -14.6K to -20K

Australian jobless fee ticked greater from 3.5% to three.7% as an alternative of holding regular in Jan

U.S. headline and core PPI at 1:30 pm GMT
Philly Fed index at 1:30 pm GMT
U.S. preliminary jobless claims at 1:30 pm GMT
BOE MPC member Tablet’s speech at 5:00 pm GMT
FOMC member Prepare dinner’s speech at 9:00 pm GMT
RBA Governor Lowe’s speech at 10:00 pm GMT

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

What to Watch: AUD/USD

AUD/USD 4-hour Forex Chart

AUD/USD 4-hour Foreign exchange Chart by TradingView

A lot for pricing in additional rate of interest hikes from the RBA!

The Land Down Underneath printed a dismal jobs report earlier right this moment, revealing that the financial system shed 11.5K jobs in February as an alternative of the projected 19.8K enhance.

This was sufficient to carry the unemployment fee up by a few notches to three.7%. It didn’t assist that the December studying was downgraded to point out an excellent bigger drop in hiring of 20K!

With that, Aussie bulls rushed to exit their lengthy positions, bringing AUD/USD again all the way down to the neckline of its head and shoulders sample.

A break beneath this assist zone might set off a drop that’s the identical top because the chart formation, which spans somewhat over 300 pips.

Technical indicators aren’t so satisfied, although, because the 100 SMA remains to be above the 200 SMA whereas Stochastic is pulling greater from the oversold area.

Then once more, the hole between the shifting averages is narrowing to trace at a possible bearish crossover, so be careful for that.

Additionally, don’t overlook to maintain a watch out for the U.S. PPI figures, as these might affect Fed tightening expectations. RBA Governor Lowe has a speech developing as properly, which simply makes issues much more thrilling for AUD/USD!

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