Australian Dollar, AUD / USD, Export Prices, Covid Call Points
- Australian dollar is over versus US dollar after Wednesday FOMC
- Australian export and import prices today are exposed to a significant risk of events
- AUD / USD is looking for direction after the base was formed last week.
Thursday ‘s Asia – Pacific Outlook
The Asia-Pacific markets anticipate a potential risk session US stocks mostly closed higher. The Federal Reserve’s decision on Wednesday pushed the longer-term Treasury down, with the 10-year benchmarking initiative falling by more than half a percent. The safe-haven US dollar weakened against some key peers, including the risk-sensitive Australian dollar and commodity-related Canadian dollar.
The Australian dollar remained in a somewhat stronger position against the US dollar, but the currency pair will stay on track at the end of July to record its second-month loss. The higher-than-expected CPI printout from Australia on Wednesday helped support prices, but a wave of closures across the country affected sentiment. New -South Wales’s capital Sydney remains locked.
Today’s ANZ business insurance from New Zealand may stimulate the risk of certain events in the region. New Zealand Dollar has fared much better against the Greenback than the Aussie dollar, but NZD / USD also monitors monthly losses. Shortly afterwards, export and import prices from Australia will follow in the second quarter. Iron ore prices continued to rise in the second quarter, which is likely to help Australian export prices.
The Australian states of Victoria and South Australia will end today, after weeks of closure, increased restrictions to curb Covid outbreaks. However, future emergency closures may be likely as long as vaccination rates are much higher. Currently, only 13.6% of the population has been fully vaccinated. It is much lower than in other developed countries, such as the United States.
AUD / USD technical outlook:
The Australian dollar has been in a short consolidation phase against the US dollar since rising from its lowest level in 2021 last week. Climbing 0.7413 above the September swing can open the door et some follow-up. Alternatively, if it falls below the support base of close to 0.7356, prices could move back to the lowest level in 2021 – 0.7289. The MACD turns higher, which may indicate the generation of some upward energy.
AUD / USD daily schedule
The chart has been created TradingView
Australian dollar trading resources
– Written by DailyFX.com analyst Thomas Westwater
Be in touch Thomas, use the comments section below, or @FxWestwaterTwitter