The Australian dollar has fallen rather hard during the course of the week to peak below the 0.70 level. This is an area that is huge on longer-term charts.
Australian dollar traders have seen quite a bit of negativity over the last couple of days, and it looks like we will continue to see more.
It’s a busy day ahead on the economic calendar, with 4th quarter GDP numbers from Eurozone member states and U.S inflation in focus.
The Australian dollar has broken through the 0.71 level, an area that I have been paying close attention to as of late. In general, this is still a negative market.
As long as the AUD/USD remains under .7116 to .7154, the way of least resistance will be down with the main bottom at .6991 the next likely target.
By Gina Lee
Going into the European open, German consumer sentiment figures will draw interest ahead of key stats from the U.S.
The Australian dollar has rallied a bit during the course of the trading session on Wednesday heading into the FOMC meeting.
The direction of the AUD/USD on Wednesday will be determined by trader reaction to .7140.
It’s a big day ahead for the global financial markets, with the FED’s forward guidance on the economic outlook, inflation, and interest rates key.
By Gina Lee
The Australian dollar initially rallied on Tuesday but gave back almost all of the gains immediately. At this point, with the hotter than anticipated inflation coming out of Australia, there are further headwinds for the Aussie itself.
Australian domestic data showed core inflation jumped to an annual 2.6% in the December quarter, blowing away forecasts of 2.3%.
Dollar and Yen support persist ahead of the FED monetary policy decision tomorrow. Stats from the Eurozone and the U.S may do little to distract the markets.
The Australian dollar has gotten hammered during the trading session on Monday, as risk aversion continues to be the way forward.
The direction of the AUD/USD on Monday is likely to be determined by trader reaction to .7153.
While there are plenty of stats for the markets to consider in the week ahead, the FED’s monetary policy decision and forward guidance will be key…
The Australian dollar has rallied a bit during the course of the week but gave back some of its gains in order to form a bit of a shooting star yet again.
The Australian dollar has fallen a bit during the trading session on Friday to break through the 0.72 handle, but perhaps more importantly falling to test the uptrend line.
While it’s a relatively quiet day ahead, retail sales figures for Canada and the UK, and ECB Lagarde will be in focus today.