AUD/USD Live News

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May. 27, 2022

After ending the previous trading day at 0.7096, Aussie/Dollar increases to 0.7146 (up 49 pips)

Live - Updated 3 minutes ago.

The Australian dollar trades at 0.7146 after gaining 49 pips (0.7%).

Aussie/Dollar upside coincides with further encouraging market factors as Pending Home Sales (MoM) (Apr) in United States fell short of the -2 projection with -3.9 and continued its downward trajectory from previous figure of -1.6. GDP (QoQ) (Q1) in United States fell short of the -1.3 projection with -1.5 and continued its downward trajectory from previous figure of -1.4.

On the flip side, Australia Retail Sales (MoM) (Apr) matches expectations with new data release of 0.9. This is a step backward from the previous data of 1.6.

Trend indicators show us that at 0.71, AUD/USD made an initial breakout above 3 day Simple Moving Average, an indication of a positive trend. According to asset volatility analysis, a slight indication of a slowdown comes from looking at the Bollinger bands: the upper band is at 0.7178 – a high enough level to usually suggest the Australian dollar is trading above its value. The Australian dollar chart analysis: the nearest resistance level is at 0.7251.

All in all, while Aussie/Dollar has been going up, technical indicators suggest flatness for the immediate future.

While the Australian dollar is up today, these currencies are lagging behind: after ending yesterday's session at 1.6557, EUR/NZD lost 143 pips and is trading around 1.6413.

Other currencies are showing mixed performance as after six days of going up, the Kiwi is flat at 0.6527. EUR/CAD broke through the 1.3739 resistance.

The market is looking forward to the release of new data: Australia CFTC AUD speculative net positions scheduled to come out today at 7:30 PM.

The Australian dollar is now trading 3.41% away from its yearly low of 0.6862 – first tested 15 days ago.

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Week to date

Aussie/Dollar inches up to 0.7146 (a 0% gain) after closing the previous session at zero .

Trading week at a glance - AUD/USD is up to 0.7146, after closing yesterday at zero. Overall, a 0% move or 7,145 pips this week. (Start trading Aussie/Dollar at FXTM today).

The Australian dollar upside coincides with further encouraging market factors as following a previous reading of -1.6, Pending Home Sales (MoM) (Apr) in United States released yesterday at 2:00 PM fell short of the -2 figure expected by analysts with an actual reading of -3.9. GDP (QoQ) (Q1) in United States fell short of the -1.3 projection with -1.5 and continued its downward trajectory from previous figure of -1.4. Initial Jobless Claims in United States fell short of the 215,000 projection with 210,000 and continued its downward trajectory from previous figure of 218,000.

Nevertheless Australia Retail Sales (MoM) (Apr) matches expectations with new data release of 0.9. This is a step backward from the previous data of 1.6.

At the same time, Private New Capital Expenditure (QoQ) (Q1) in Australia fell short of the 1.5 projection with -0.3 and continued its downward trajectory from previous figure of 2.3.

Outlook for rest of the week: The market is looking forward to the release of new data: Australia's new GDP (QoQ) (Q1) data will be available Wednesday. Data is expected to decline to three from its previous value of 3.4. Australia Company Gross Operating Profits (QoQ) (Q1) is projected to rise to three, beating the previous two figure. Official data is expected Tuesday. Australia Current Account (Q1) is projected to outperform its last figure with 14.9 billion. It previously stood at 12.7 billion, and data will be released Tuesday.