Aussie lower in a steadier beginning of the week
It is a steadier beginning of the week for Aussie. There are no data releases from Australia and Chinese banks are still being closed. With that being the case investors are more turned to global concerns - final solution of Greek bailout as well as data ahead of this week, primarily Janet Yellen's testimony.
After Aussie went down in the last two weeks, due to RBA rate cut and mixed economic figures, it managed to rebound by the end of the last mostly due to dovish FOMC Meeting Minutes. However, RBA still left room for another rate cut if needed, commodity prices are still falling and optimal exchange rate for Aussie is placed at 0.75 level, which all indicates that Aussie could be going further down in the months to come.
Aussie edged down slightly today, but is still above 0.78 handle. Pair is likely to find support around 0.7770 and resistance above 0.7850 level. Later today, in the US session, Existing Home Sales figures are scheduled for a release.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419