EUR/USD 1.12377
0.164%
Gold 4168.72
-0.043%
Oil 98.821
2.843%
USD/JPY 157.991
0.009%
GBP/USD 1.33278
0.397%
GBP/JPY 210.572
0.390%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The European-Mediterranean Seismological Centre reports a 4.2-magnitude earthquake that struck the Panama-Costa Rica border region at a depth of 5.0 kilometers.Ukrainian Foreign Minister: Russian-controlled towns are a death trap, with residents facing starvation.US President Trump: All countries that use wind power are heading towards bankruptcy.On October 18th, local time, Romania claimed to have shot down two drones within its territorial waters. This is the latest incident related to Russias escalated attacks on the Black Sea shipping lanes off Ukraine. The Romanian Ministry of Defense stated that on Saturday evening, after radar detected drones violating the countrys airspace, two Romanian Air Force F-16 fighter jets were scrambled and intercepted and shot down the two drones within minutes of each other. The Romanian Ministry of Defense stated that the downed drones were jet-powered Geran attack drones, a type of drone that Russia has been using in the conflict in Ukraine. Previously, a series of drone attacks targeting merchant ships occurred off the Black Sea coasts of NATO members Romania and Bulgaria, resulting in the sinking of several vessels, multiple deaths, and some missing crew members. Both countries accused Russia and demanded that their NATO allies provide more air defense and counter-drone equipment.US President Trump: Despite the government cutting more than 1 million federal employees, the number of employed people in the US is still at a record high. In the past, a job often required 10 people to do it. The US does need federal employees, but it doesnt need 10 people for every job.

A decrease in the AUD/USD rate toward 0.7100 is caused by weak Chinese data

Alina Haynes

Aug 15, 2022 14:53

 截屏2022-08-15 上午11.35.56.png

 

AUD/USD decreases near 0.7100, down 0.08% intraday to 0.7120 at press time, as Monday's Asian session's data dump from China proves to be poorer than expected and adds to the cautious market mood. Investors may be uneasy as a result of the minutes from the most recent monetary policy meeting of the Federal Reserve and the Reserve Bank of Australia (RBA) (Fed).

 

Retail sales in China plummeted to 2.7% from 5.0% expected and 3.1% previously, while industrial production (IP) fell to 3.8% from 3.9% previously and 4.0% expected by the market.

 

In an effort to deter bears, the People's Bank of China (PBOC) earlier in the day lowered the one-year medium-term lending facility (MLF) rates by 10 basis points (bps). The market's confidence was further increased by Japan's GDP growth numbers that were better than anticipated. However, the mood towards Sino-American relations is put into question by the growing number of US MPs visiting Taiwan concurrently with US House Speaker Nancy Pelosi's tour to Taiwan.

 

The market's concerns about inflation were eased by weaker readings of the Consumer Price Index (CPI) and the Producer Price Index (PPI) outside of the US. However, in order to manage inflation, Thomas Barkin, president of the Richmond Federal Reserve (Fed) Bank, declared on Friday that he plans to raise interest rates even more. "I'd love to see a period of persistent inflation control, and until that occurs, I believe we will have to boost rates into restrictive zone," Barkin reportedly said to CNBC, according to Reuters. The Fed hawks who continued to support higher interest rates included Presidents Mary Day of the Federal Reserve Bank of San Francisco, Neel Kashkari of the Federal Reserve Bank of Minneapolis, and Charles Evans of the Federal Reserve Bank of Chicago.

 

AUD/USD traders should concentrate on the August NY Empire State Manufacturing Index, which is predicted to be 8.5 versus the previous reading of 1.1, after observing the early market response to China's monthly data dump. The downside is elusive ahead of Tuesday's RBA Minutes, Wednesday's Australia Wage Price Index for the second quarter, and Thursday's Australian jobs report, despite the fact that lower US PMI data could put pressure on the AUD/USD bulls. Aside from the RBA Minutes, news about China and US ties will excite traders of the Aussie pair.

 

A sluggish RSI at the top suggests that AUD/USD bulls are losing steam as the 200-day simple moving average limits immediate AUD/USD gains around 0.7120. As of the time of publication, the price must continue above the last resistance level from late April, or 0.6990, for the bearish movements to materialize.

Suggestion