Free Trial

SoMP Headlines

AUD

Opposing forces moved AUD/USD Thursday, with the rate charting a virtual Doji candlestick at the end of the day. Weakness in U.S. tech equities dragged the pair lower in early trade, but a hawkish pivot in ECB post-MonPol rhetoric inspired a round of USD sales. AUD/USD struggled to cling onto post-ECB gains and eased off towards neutral levels.

  • The rate last changes hands at $0.7144, hovering just above neutral levels. A break above yesterday's peak at $0.7168 would draw attention to Jan 20 high of $0.7277. Bears need a dip through Feb 1 low of $0.6968 before taking aim at Jan 28, 2021/Jul 16, 2020 lows of $0.6968/63.
  • The RBA will publish their quarterly Statement on Monetary Policy later today. Note that the Bank's key economic forecasts have already been pre-announced this week via the RBA statement & Gov Lowe's address.
  • Looking further afield, retail sales & ANZ job ads will hit the wires Monday, NAB Business Confidence will be out Tuesday, while Westpac Consumer Confidence will be released Wednesday.

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.