EUR/AUD is bouncing from its January lows!

How can at this time’s market themes affect the pair’s intraday worth motion?

Earlier than shifting on, ICYMI, I’ve listed the potential financial catalysts that it’s essential be careful for this week. Examine them out earlier than you place your first trades at this time!

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

Contemporary Market Headlines & Financial Information:

11% m/m uptick in exports tightens NZ commerce deficit to 475M NZD – the bottom in seven months – in December

UK enterprise optimism at six-month excessive in January regardless of recession dangers

Switzerland’s main KOF financial barometer up from 91.5 to 7-month excessive of 97.2 in January

Gold and US greenback regular forward of this week’s FOMC resolution

European sees decrease open forward of anticipated fee hikes from Fed, ECB, and BOE

Spain’s inflation surprises at 5.8% y/y vs. 4.7% anticipated in January

Germany’s GDP unexpectedly contracted by 0.2% in This fall vs. 0.5% development in Q3, annual development slowed down from 1.3% to 1.1%

Japan’s unemployment fee at 11:30 pm GMT
Japan’s preliminary industrial manufacturing at 11:50 pm GMT
Japan’s retail gross sales at 11:50 pm GMT
AU retail gross sales at 12:30 am GMT (Jan 31)
China’s manufacturing and non-manufacturing PMIs at 1:30 am GMT (Jan 31)

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

What to Watch: EUR/AUD

EUR/AUD 1-hour Foreign exchange Chart by TradingView

In case you haven’t checked this week’s anticipated financial releases but, it’s best to know that the European Central Financial institution (ECB) will publish newest coverage resolution within the subsequent couple of days.

Markets see the central financial institution elevating its rates of interest by 50 foundation factors, which is fairly aggressive contemplating that different main central banks are already easing the pedal from the metallic.

The anticipation of upper charges has helped elevate EUR/AUD from its January lows.

The pair is now buying and selling nearer to 1.5400, a degree that had served as help earlier this month and is extra aligned with the 38.2% Fibonacci retracement of the most recent downswing.

Will we see a support-turned-resistance scenario within the subsequent buying and selling classes?

Information printed earlier confirmed Spain’s inflation rising a lot quicker than analysts had anticipated in January. Nevertheless, Germany – the Eurozone’s largest economic system – additionally unexpectedly contracted in This fall.

If merchants worth of their considerations that larger charges would result in even decrease financial development, then EUR/AUD may drop again to the 1.5300 inflection level.

But when threat aversion turns into the secret within the subsequent buying and selling classes, or if merchants are anticipating weaker PMI reviews from China, then EUR may benefit from its safe-haven standing and prolong its uptick in opposition to AUD.

EUR/AUD may bust above the 1.5400 – 1.5450 resistance zone and retest larger areas of curiosity earlier than discovering sufficient sellers.