AUD/USD Weekly Analysis (week of 20-24/07)

Australia CFTC set for today at 7:30 PM.

Jul. 24, 2020

Australian dollar hovers around 0.7104

(22:00) GMT

A mostly flat day so far for AUD/USD, ranging between 0.7128 and 0.7065 and is now at 0.7104.

This in-between state for Aussie is reflected by market data published as Data for Australia NAB Quarterly Business Confidence was released Thursday 1:30 AM suggests a downwards trend with -15, while previous data was -12. New data for United States Money Supply was released Thursday 12:30 PM comes out at 1,416K, beating projections of 1,300K and showing improvement over the preceding figure of 1,307K. United States Continuing Jobless Claims fall short of the 17,067K projections, with 16,197K and continued its downward trajectory from previous figure of 17,304K.

Meanwhile, mixed performance are seen elsewhere as Canadian Dollar went down to 1.3413 (40, pips). Dow Jones dropped -0.68% (182.4 points) to 26469.89.

Jul. 23, 2020

After starting the day at 0.7139, Aussie/Dollar retreats to 0.7095 (down 43 pips)

(22:00) GMT

AUD/USD remains in the 0.7095 range after starting the session at 0.7139 and dropping 43 pips.

This downslide might be related to financial indicators data published earlier as Australia Retail Sales fall short of the 7.1% projections, with 2.4% and continued its downward trajectory from previous figure of 16.9%. Data for Australia NAB Quarterly Business Confidence was released today at 1:30 AM suggests a downwards trend with -15, while previous data was -12.

Nonetheless, encouraging indicators for Aussie published earlier when New data for United States Money Supply was released today at 12:30 PM comes out at 1,416K, beating projections of 1,300K and showing improvement over the preceding figure of 1,307K.

Taking a wider perspective, performance of these other symbols usually suggest a setback for Australian dollar as Dow dropped -1.31% (353.5 points) to 26652.33.

Positive performance can be seen looking at other symbols as Canadian Dollar drops to 1.3406 (127, pips).

Jul. 22, 2020

Aussie/Dollar rallies beyond 0.7141 for the first time in 1 years

(22:00) GMT

A mostly flat day so far for AUD/USD, ranging between 0.7141 and 0.7139 and is now at 0.7137.

This in-between state for Aussie/Dollar is reflected by market data published as Australia Retail Sales fall short of the 7.1% projections, with 2.4% and continued its downward trajectory from previous figure of 16.9%. United States Home Sales released earlier shows an improvement to 4.72M from the preceding data of 3.91M, but falls short of the projected 4.78M. Data for United States Seevol Cushing Storage Report was released today at 1:30 PM suggests a downwards trend with 0.769M, while previous data was 1.748M.

Meanwhile, mixed performance are seen elsewhere as Canadian Dollar went down to 1.3414 (170, pips). Dow is trading around 27005.84 after starting the session at 26840.4 (up 0.62%).


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Jul. 21, 2020

Australian dollar hits 0.7136, highest rate in 1 years

(22:00) GMT

AUD/USD rallies 115 pips and maintains at 0.7133 level.

Despite this, other data released earlier might suggest a different path as Data for United States Redbook was released today at 12:55 PM suggests a downwards trend with -7.5%, while previous data was -5.5%. Down from preceding data of 0.145%, United States 3-Month Bill Auction is released with a new figure of 0.120%. Down from preceding data of 0.145%, United States 6-Month Bill Auction is released with a new figure of 0.130%.

A look at other markets shows behavior that usually indicate a green move for Australian dollar as Canadian Dollar drops to 1.3456 (128, pips). Dow Jones went up from 26680.87 to 26840.4 (0.6%, 159.5 points).

Jul. 20, 2020

New 6 months high for Australian dollar at 0.702

(22:00) GMT

AUD/USD rallied 22 pips (0.33%) deep into the session trading at 0.7015.

Despite this, other data released earlier might suggest a different path as Data for United States 3-Month Bill Auction was released today at 3:30 PM suggests a downwards trend with 0.120%, while previous data was 0.145%. Data for United States 6-Month Bill Auction was released today at 3:30 PM suggests a downwards trend with 0.130%, while previous data was 0.145%.

A look at other markets shows behavior that usually indicate a green move for Australian dollar as Canadian Dollar drops to 1.3536 (40, pips).

At the same time looking at other markets some moves suggest a different direction FTSE lost 28.8 points from the start of the session, trading at 6261.52 levels.

With no clear-cut projections the market is looking forward for Australia Speaks scheduled for tomorrow at 2:30 AM.

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