On Thursday, AUD/USD experienced a sharp rise, rebounding from monthly lows and climbing above 0.6400. The move was primarily driven by a correction i
n the US Dollar. Market participants are focused on Federal Reserve Chair Powell's speech and the release of the US Core PersonalIn Australia, the August Retail Sales data showed a 0.2% increase, slightly below market expectations of 0.3%. The annual rate slowed from 2.1% in July to 1.5% in August, marking the lowest reading since August 2021. Market expectations do not anticipate a rate hike at the upcoming Reserve Bank of Australia Governor Bullock's first meeting next week.
In the US, data revealed that Gross Domestic Product expanded at an unrevised annualized rate of 2.1% during the second quarter. Initial Jobless Claims rose modestly last week to 204,000, which was below the market consensus of 215,000. The data did not generate significant market reactions and indicated that the US economy remains robust. However, the US Dollar continued its correction during the American session.
On the upside, a consolidation above 0.6425 could lead to the next critical area of resistance around 0.6445, which represents a horizontal level and a downtrend line. A break higher would strengthen the
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Forecast: Bearish pressure intensifies below 0.6400, Australian inflation nextThe AUD/USD pair dropped again on Tuesday and was on its way to reaching the lowest daily close since September 8, approaching the monthly lows at 0.6
Read more »
AUD/USD Forecast: More losses likely while under 0.6380The strength of the US Dollar has pushed the AUD/USD pair to its lowest level in almost a year. After reaching the 0.6330 area, it started a bounce. H
Read more »
AUD/USD pings new ten-month lows into 0.6330 ahead of Aussie Retail Sales, US PCEThe AUD/USD slipped to a ten-month low of 0.6331 in late Wednesday trading and is currently down around 45 pips, or -0.7%, for the day near 0.6350. Au
Read more »
AUD/USD Price Analysis: Trades near 10-month low despite Australian inflation reboundsThe AUD/USD pair faced an intense sell-off while attempting to recapture the crucial resistance of 0.6400 on Wednesday. The Aussie asset drops despite
Read more »
AUD/USD holds below the 0.6400 mark ahead of the Australian CPIThe AUD/USD pair remains under selling pressure and drops below 0.6400 during the early Asian session on Wednesday. The pair is weighed by the negativ
Read more »
Australian Dollar Holds Gains After CPI Accelerates; What’s Next for AUD/USD, AUD/NZD?AUD held early gains after Australia CPI accelerated last month, reinforcing the growing view that interest rates will remain higher for longer. What’s next for AUD/USD and AUD/NZD?
Read more »