AUD/USD Weekly Analysis (week of 13-17/07)

Australia CFTC set for today at 7:30 PM.

Jul. 17, 2020

After starting the day at 0.6971, Australian dollar goes up to 0.7 (up 28 pips)

(22:00) GMT

AUD/USD gains 28 pips and hovers at 0.7 level.

This move comes while some more positive signs for Aussie/Dollar are out as New data for Australia Employment Change was released Thursday 1:30 AM comes out at 210.8K, beating projections of 112.5K and showing improvement over the preceding figure of -227.7K. Australia Home Sales released Thursday 12:00 AM with a figure of 87.2%, this is better from previous number of -4.2%.

Despite this, other data released earlier might suggest a different path as Down from preceding data of 7.1%, Australia Unemployment Rate is released with a new figure of 7.4%. Down from preceding data of -0.7K, Australia CFTC is released with a new figure of 4.2K.

A look at other markets shows behavior that usually indicate a green move for Aussie/Dollar as Canadian Dollar went down to 1.3576 (34, pips).

Jul. 16, 2020

Australian dollar is trading around 0.6968 after starting the day at 0.7011 (down -0.61%)

(22:00) GMT

AUD/USD remains in the 0.6968 range after starting the session at 0.7011 and dropping 42 pips.

This downslide might be related to financial indicators data published earlier as Data for Australia Unemployment Rate was released today at 1:30 AM suggests a downwards trend with 7.4%, while previous data was 7.1%. Data for United States Retail Sales was released today at 12:30 PM is better than expected with 7.5%, but worse than previous figure of 18.2%.

On the flip side, positive data for Aussie/Dollar released earlier when Australia Employment Change beats expectations of 112.5K with new data release of 210.8K. This is also a step forward from the previous data of -227.7K. Australia Home Sales released today at 12:00 AM with a figure of 87.2%, this is better from previous number of -4.2%.

Positive performance can be seen looking at other symbols as Canadian Dollar went down to 1.3572 (34, pips).

Jul. 15, 2020

New 5 weeks high for Aussie/Dollar at 0.7014

(22:00) GMT

AUD/USD rallied 30 pips (0.43%) deep into the session trading at 0.7009.

Uptick comes while some more positive signs for Australian dollar are out as Australia Business Confidence released Tuesday 1:30 AM with a figure of 1, this is better from previous number of -20. United States Money Supply beats expectations of 0.8% with new data release of 1.4%. This is also a step forward from the previous data of 0.4%.

Despite this, other data released earlier might suggest a different path as Data for Australia Westpac Consumer Sentiment was released today at 12:30 AM suggests a downwards trend with -6.1%, while previous data was 6.3%.

A look at other markets shows behavior that usually indicate a green move for Aussie/Dollar as Canadian Dollar went down to 1.3508 (79, pips). The Dow gained 0.85% (227.5 points), reaching 26870.1 levels.


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Jul. 14, 2020

Australian dollar climbs to 0.6976 (a 0.46% gain) after starting the day at 0.6944

(22:00) GMT

AUD/USD rallied 31 pips (0.46%) deep into the session trading at 0.6976.

This move comes while some more positive signs for Aussie are out as Australia Business Confidence released today at 1:30 AM with a figure of 1, this is better from previous number of -20. Australia NAB Business Survey (Jun) released today at 1:30 AM with a figure of -7, this is better from previous number of -24.

Despite this, other data released earlier might suggest a different path as United States Budget Balance fall short of the -863.0B projections, with -864.0B and continued its downward trajectory from previous figure of -399.0B.

A look at other markets shows behavior that usually indicate a green move for Australian dollar as Dow Jones gained 2.13% (556.8 points), reaching 26642.59 levels.

At the same time looking at other markets some moves suggest a different direction Canadian Dollar is trading around 1.361 after starting the session at 1.3587 (down 0.17%).

Jul. 13, 2020

Australian dollar is trading around 0.6941 after starting the day at 0.6954 (down -0.19%)

(22:00) GMT

AUD/USD slides down from 0.6954 to 0.6941, taking a 12 pips loss (-0.19%).

This downslide might be related to financial indicators data published earlier as United States Budget Balance fall short of the -863.0B projections, with -864.0B and continued its downward trajectory from previous figure of -399.0B. Down from preceding data of 0.150%, United States 3-Month Bill Auction is released with a new figure of 0.145%. Data for United States 6-Month Bill Auction was released today at 3:30 PM suggests a downwards trend with 0.145%, while previous data was 0.165%.

Market will keep its eye on Australia Business Confidence set for tomorrow at 1:30 AM. Australia NAB Business Survey (Jun) set for tomorrow at 1:30 AM.

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