AUDUSD REMAINS RESILIENT NEAR 0.7250 LEVEL AHEAD OF US UNEMPLOYMENT RATE
After witnessing a selloff during last two days, AUDUSD finds solace near 0.7250 level in Asian trading hours as investors refrain from placing aggressive bets in USD ahead of its crucial Unemployment Rate data lined up for today. Currently, the pair is trading flat to positive at 0.7270 level.
Meanwhile, Australia published a downbeat Retail Sales figures in early Asian hours today which restricts the upside in the pair.
Talking about the previous session, the demand for commodity linked Aussie sidelined after the release of dismal Australian Trade Balance data. The data came at 4670M versus the expectations of 5400M in July. On the counterpart, US reported a reduction in Unemployment Claims which supported the demand for the greenback across the board. In addition to this, sell- off in the global markets from its all-time high levels as the pandemic clouds the recovery hopes also weighed on the demand for riskier Aussie. Subsequently, the pair concluded the session at 0.7273, down by 0.88%.
For the day ahead, investors must focus on the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate data to determine further direction in the pair.
Source: www.facebook.com/fxviewdotcom/posts/214869123388795
After witnessing a selloff during last two days, AUDUSD finds solace near 0.7250 level in Asian trading hours as investors refrain from placing aggressive bets in USD ahead of its crucial Unemployment Rate data lined up for today. Currently, the pair is trading flat to positive at 0.7270 level.
Meanwhile, Australia published a downbeat Retail Sales figures in early Asian hours today which restricts the upside in the pair.
Talking about the previous session, the demand for commodity linked Aussie sidelined after the release of dismal Australian Trade Balance data. The data came at 4670M versus the expectations of 5400M in July. On the counterpart, US reported a reduction in Unemployment Claims which supported the demand for the greenback across the board. In addition to this, sell- off in the global markets from its all-time high levels as the pandemic clouds the recovery hopes also weighed on the demand for riskier Aussie. Subsequently, the pair concluded the session at 0.7273, down by 0.88%.
For the day ahead, investors must focus on the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate data to determine further direction in the pair.
Source: www.facebook.com/fxviewdotcom/posts/214869123388795
