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Thursday, July 18, 2024

Each day Foreign exchange Information and Watchlist: AUD/USD

Each day Foreign exchange Information and Watchlist: AUD/USD


Stronger than anticipated Chinese language knowledge gave AUD pairs fairly a lift right now.

Can AUD/USD maintain its uptrend?

Earlier than transferring on, ICYMI, yesterday’s watchlist checked out NZD/USD’s uptrend pullback forward of the U.S. PPI launch. Be sure you try if it’s nonetheless a very good play!

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

Contemporary Market Headlines & Financial Information:

ECB elevated rates of interest from 4.25% to 4.50% in a “dovish hike” announcement, as head Lagarde hinted on the finish of their tightening cycle

U.S. headline PPI up by 0.7% m/m vs. 0.4% forecast in August, core PPI up by 0.2% as anticipated

U.S. headline retail gross sales up by 0.6% m/m in August vs. 0.1% forecast, core retail gross sales rose by 0.6% vs. 0.4% forecast

Chinese language industrial manufacturing accelerated from 3.7% y/y to 4.5%  in August vs. estimated enhance to three.9%

Chinese language retail gross sales rose from 2.5% y/y to 4.6% in Aug vs. projected enchancment to three.0%

PBOC minimize 14-day repo fee from 2.15% to 1.95% and set USD/CNY reference fee decrease than anticipated once more

Value Motion Information

Overlay of AUD Pairs: 15-min Charts

Overlay of AUD Pairs: 15-min Charts

The Australian greenback chalked up one other bullish run in right now’s Asian session, due to surprisingly upbeat knowledge from China. Each industrial manufacturing and retail gross sales figures signaled stronger spending exercise in August, reflecting an honest restoration from the sooner declines.

To prime it off, the PBOC introduced one more fee minimize – this time decreasing its 14-day reverse repo fee – in an effort to maintain the economic system supported. The central financial institution additionally set its USD/CNY repair decrease than consensus with the intention to sluggish the yuan’s stoop.

ECB head Lagarde’s speech at 9:45 pm GMT
U.S. Empire State manufacturing index at 12:30 pm GMT
U.S. industrial manufacturing at 1:15 pm GMT
U.S. preliminary UoM shopper sentiment index at 2:00 pm GMT

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

AUD/USD 15-min Forex Chart

AUD/USD 15-min Foreign exchange Chart by TV

Uncle Sam has one other batch of top-tier studies lined up for right now, so I’m protecting shut tabs on this greenback pair.


AUD/USD has been cruising increased with rising lows related by an ascending development line on its short-term chart. One other pullback to this assist zone may happen if the U.S. studies spark volatility.

The Fib retracement software exhibits the place patrons is likely to be ready, with the 50% degree proper across the development line, former resistance zone, and  .6450 minor psychological mark.

A bigger correction may nonetheless take a look at the 61.8% Fib at .6447, however a break under this space may set off a drop to the following ground at S1 (.6420).

However, a shallow pullback may already discover patrons on the 38.2% degree close to R1 (.6460) and ship AUD/USD as much as the swing excessive or the following upside barrier at R2 (.6480).

In any case, ensure you account for the common AUD/USD volatility when buying and selling this one!

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