The Australian Dollar rises as the solid employment data diminish the odds of RBA’s rate cuts in 2024. China’s Gross Domestic Product is expected to report 4.5% growth YoY in Q3, compared to the previous 4.7% reading. The US Dollar received support from a solid US Retail Sales report, fueling the likelihood of the Fed delivering…
Australia’s Unemployment Rate declined to 4.1% in September, compared with the previous figure of 4.1% (revised from 4.2%), according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. This figure was below the market consensus of 4.2%. Furthermore, the Australian Employment Change arrived at 64.1K in September from 42.6K in August (revised…
The AUDUSD market bounced upwards during Thursday’s session. As a result, the pair ended the week in the green as the retracement extended until Friday. This is happening at a time when the Aussie side of the market is experiencing mostly negative fundamentals. Therefore, the main factor behind the current market trajectory is the US…
Forex – Order of The Pack What is the order of the Wolfpack? The alpha pair commands the whole group, while the beta pair directs the mid-level wolves, and the adults take charge of the remaining pack members in the middle and lower ranks. While searching the internet in a quest of…
Price activity in the AUDUSD market has adopted a bearish outlook. This occurred as the US dollar regained considerable momentum due to favorable emerging data. Consequently, this created a headwind in the market, bringing the price of the pair below key levels, and setting the tone for the new week. Key Price Levels:Resistance Levels: 0.6900,…
Weekly FX Chart Outlook – October 7-11 There is a light economic calendar in the week ahead as traders are left to digest the stronger US September jobs report, which has all but factored out a risk of a 50bps Fed rate cut in November. With no key labor reports due from the…
AUD/USD falls following robust US Nonfarm Payrolls data, reducing the likelihood of aggressive Fed rate cuts. Fed Chair Powell signals slower pace of easing, with markets now pricing in a 25 bps cut for November. Australian data shows mixed results with strong Retail Sales and trade surplus but ongoing manufacturing contraction and slowing business activity….
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Forex Trading: A Constant Search for Equilibrium – Forex Forum September 26, 2024 /Posted byGVI Forex / 585 / Source link
Reuters reported on Thursday, citing two sources with knowledge of the matter, China is planning to issue special sovereign bonds worth about 2 trillion Yuan ($284.43 billion) this year as part of a fresh fiscal stimulus. Additional details China to issue 1 trillion Yuan of special bonds mainly to stimulate consumption. China to issue another…