AUD/USD Runs a Mixed Week that is Loaded with Key Upcoming Events
The pair heads towards its best month of the year, but faces difficulties this week, as markets contemplate China’s Covid-19 situation and poor PMIs, ahead of key US economic data
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The pair heads towards its best month of the year, but faces difficulties this week, as markets contemplate China’s Covid-19 situation and poor PMIs, ahead of key US economic data
The pair concluded yesterday’s volatile session in the red, despite setting five-month highs, but finds support today
As the real rate appreciated, gold declined (green trendlines). This trend then morphed into a sideways pattern (blue-shaded area). The cc is currently reading a robust -79%, implying a meaningful inverse relationship between the two instruments.
Market sentiment is downbeat at the start of the week, mostly due to renewed China pandemic woes, sending the pair lower
With the help of RBNZ’s recent record hike, the pair marches towards its sixth straight profitable week and the best streak in two years
Watch today’s US Open for commentary on the Fed’s minutes and their impact on the US Dollar and Wall Street, along with other news and developments
Since the week starting Monday, 17 October (black dashed vertical), the US 10-year real rate has been drifting lower (blue arrow top chart). An appreciation in the EURUSD (red arrow bottom chart) accompanies this.
Yesterday’s accounts from the last US Fed policy meeting, showed that officials are looking to slow the pace of rate hikes, which weighed on the greenback and sent the pair higher
The central bank of New Zealand remains super-hawkish as it raised rates by a record 0.75% and pointed to more moves ahead, despite impending recession
Watch today’s US Open, for commentary on the latest news, including oil developments, as well as the technical outlook of SPX500 and other assets
The Aussie takes advantage of the greenback’s weakness and the latest commentary form the head of the RBA, to move higher today, after its poor weekly start
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