Free Trial

AUD/USD moved lower Thursday, after the......>

AUSSIE
AUSSIE: AUD/USD moved lower Thursday, after the Aussie took a hit from a bleak
domestic labour market report. Broader cautious feel prevented a subsequent
recovery attempt and the pair finished the day in the red.
- In another move that may draw China's ire, Australian PM Morrison & his UK
counterpart Mr Johnson released a joint statement calling for an independent
probe into the origins of the Covid-19 outbreak. 
- RBA's Harper called upon Australia's gov't to produce a "tapering agreement"
for stimulus programs due to expire in September, as a sudden cutoff of support
might frustrate economic recovery and push unemployment higher.
- AUD/USD sits at $0.6856, marginally higher at typing. A jump above Jun 16 high
of $0.6977 would prompt bulls to take aim at Jun 11 peak at $0.7005. Meanwhile,
Jun 15 low of $0.6777 remains the key near-term bearish target. A break here
would open the 200-DMA/50-EMA at $0.6666/63.
- The ABS will publish preliminary retail sales data later today. Next week,
focus in Oz moves to flash CBA PMIs & flash trade balance (Tues), skilled
vacancies (Weds) and job vacancies (Thurs). RBA Gov Lowe speaks on Monday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.