Greenback bulls had a robust run final Friday, however AUD/USD is pausing its slide at an space of curiosity.
Will the upcoming U.S. catalysts spur one other huge transfer?
Earlier than shifting on, ICYMI, I’ve listed the potential economic catalysts that you need to watch out for this week. Verify them out earlier than you place your first trades right this moment!
And now for the headlines that rocked the markets within the final trading sessions:
Recent Market Headlines & Financial Information:
China reported quickest progress in new house costs in 21 months, as prices rose 0.5% month-over-month in March to mark third consecutive month-to-month improve
Chinese language Protection Minister Li Shangfu reiterated nation’s assist for Russia’s invasion of Ukraine, pledged to strengthen coordination and shut communication between navy forces
New Zealand BusinessNZ providers index down from 55.8 to 54.4 to mirror slower tempo of progress in March, because the financial system cooled down and basic uncertainty set in
New Zealand’s meals worth index chalked up 0.8% month-over-month acquire in March, following earlier 1.5% improve to counsel slowing client worth pressures
Worth Motion Information
Danger-off stream buoyed the safe-haven greenback larger throughout the board on Friday, earlier than downbeat U.S. retail gross sales knowledge compelled the U.S. foreign money to take a breather throughout the New York session.
Nonetheless, the Dollar managed to squeeze out extra features towards the yen early on on this week’s Asian session whereas beginning on weak footing towards the Loonie, Aussie, and franc.
U.S. Empire State manufacturing index at 12:30 pm GMT
Canada’s overseas securities purchases and wholesale gross sales knowledge at 12:30 pm GMT
BOE member Cunliffe’s speech at 1:00 pm GMT
ECB head Lagarde’s speech at 3:00 pm GMT
Use our new Currency Heat Map to rapidly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️
![AUD/USD 1-hour Forex Chart](https://bpcdn.co/images/2023/04/17033837/AUDUSD_2023-04-17_15-25-51-780x439.png)
AUD/USD 1-hour Foreign exchange Chart by TradingView
This pair managed to pause at its mid-channel space of curiosity, as greenback merchants appear to be reassessing what’s subsequent.
A break from the present consolidation may ship AUD/USD all the way down to its ascending channel backside close to the .6650 minor psychological mark.
Even stronger promoting stress may take it all the way down to S1 (.6620) of the Normal Pivot factors, which remains to be properly throughout the average daily volatility of 75 pips.
However, a return in risk-on flows or a downbeat shock from the Empire State manufacturing index would possibly spur some features. This might take AUD/USD to the channel high that’s close to the R1 on the .6800 main psychological stage.
Greenback bulls had a robust run final Friday, however AUD/USD is pausing its slide at an space of curiosity.
Will the upcoming U.S. catalysts spur one other huge transfer?
Earlier than shifting on, ICYMI, I’ve listed the potential economic catalysts that you need to watch out for this week. Verify them out earlier than you place your first trades right this moment!
And now for the headlines that rocked the markets within the final trading sessions:
Recent Market Headlines & Financial Information:
China reported quickest progress in new house costs in 21 months, as prices rose 0.5% month-over-month in March to mark third consecutive month-to-month improve
Chinese language Protection Minister Li Shangfu reiterated nation’s assist for Russia’s invasion of Ukraine, pledged to strengthen coordination and shut communication between navy forces
New Zealand BusinessNZ providers index down from 55.8 to 54.4 to mirror slower tempo of progress in March, because the financial system cooled down and basic uncertainty set in
New Zealand’s meals worth index chalked up 0.8% month-over-month acquire in March, following earlier 1.5% improve to counsel slowing client worth pressures
Worth Motion Information
Danger-off stream buoyed the safe-haven greenback larger throughout the board on Friday, earlier than downbeat U.S. retail gross sales knowledge compelled the U.S. foreign money to take a breather throughout the New York session.
Nonetheless, the Dollar managed to squeeze out extra features towards the yen early on on this week’s Asian session whereas beginning on weak footing towards the Loonie, Aussie, and franc.
U.S. Empire State manufacturing index at 12:30 pm GMT
Canada’s overseas securities purchases and wholesale gross sales knowledge at 12:30 pm GMT
BOE member Cunliffe’s speech at 1:00 pm GMT
ECB head Lagarde’s speech at 3:00 pm GMT
Use our new Currency Heat Map to rapidly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️
![AUD/USD 1-hour Forex Chart](https://bpcdn.co/images/2023/04/17033837/AUDUSD_2023-04-17_15-25-51-780x439.png)
AUD/USD 1-hour Foreign exchange Chart by TradingView
This pair managed to pause at its mid-channel space of curiosity, as greenback merchants appear to be reassessing what’s subsequent.
A break from the present consolidation may ship AUD/USD all the way down to its ascending channel backside close to the .6650 minor psychological mark.
Even stronger promoting stress may take it all the way down to S1 (.6620) of the Normal Pivot factors, which remains to be properly throughout the average daily volatility of 75 pips.
However, a return in risk-on flows or a downbeat shock from the Empire State manufacturing index would possibly spur some features. This might take AUD/USD to the channel high that’s close to the R1 on the .6800 main psychological stage.