Aussie stable above 0.77 handle
Despite disappointing yesterday's job figures that showed increase in Unemployment Rate Aussie managed to rebound and is currently being traded around 0.7770 level. However, we believe that this uptrend is of short-term trends only, supported by yesterday's weaker than expected Retail Sales and Unemployment Claims figures and that the pair will head towards 0.75 handle given enough time. Today, there are no data releases from Australia.
This morning the Reserve Bank of Australia governor Glenn Stevens gave a downbeat assessment of the county’s economic fortunes while addressing federal politicians in Sydney, 10 days after the central bank cut its overnight cash rate to a record low 2.25%. Recent analysts opinions show that there could be further rate cut.
Pair is likely to find support around 0.7730 level and resistance near 0.78 handle. Later today, in the US session, Consumer Sentiment 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