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- AUD / USD corrected in North America as the day progressed, returning to 0.7199 from the morning session low in New York to topple the ADM from 21 hours to 0.7227 and finish at 0.7228.
- AUD / USD corrected as the New York greenback reached 97.50, closing at 97.33. While US equities closed higher, the DJIA (+ 0.44%) led the benchmark triplets and returned to positive territory. for the year.
- Despite President Trump's latest threat to impose more tariffs on China and contradictory rhetoric from US and Chinese officials, the antipodes have managed to resist the pressures of a higher greenback.
The AUD / USD was initially sent down from a high of 0.7250 in London, while the dollar appreciated in the dollar as a whole and traded as low as a pip below the 0 mark. , 72; (The lowest level since November 14). The commodity complex as a whole was struggling overnight, with the WTI continuing to bleed, pushing the CRB index back below 179.
The dollar has also recovered the remnants and new cash flows from investors' unused capital, leaving few options on the table, given the recent increase in the risks of the planned business meeting, which should to take place between Xi and Trump this weekend.
As Westpac analysts pointed out, "contradictory statements by US and Chinese officials moved on the eve of this weekend's G20 summit." Chinese Foreign Ministry spokesman Geng Shuang said, said at a briefing that Trump and Xi had "agreed to enter into mutually beneficial agreements," prompting a resumption of US equity futures ", resulting in an offer on the Australian dollar that has managed to correct from 0.7199 to ADM 21-D to 0.7227.
As for the dollar, the DXY is now trading well above the 61.8% Fibo from the mid-November drop to the recent lows at 96.04 to 97.06 and has penetrated the 78.6% from Fibo to 97.34 where the index is currently consolidating, after peaking. from 97.50 a night.
Eyes on Powell of the Federal Reserve
The most immediate risk is that Powell, of the Federal Reserve, talks about the economy tonight as he makes an appearance at the Economic Club of New York. Traders will look to see if he accepts the recent less hawkish sentiment sparked by the Fed's tightening amid mounting pressure from such critics, President Donald Trump, who has called on the Fed to slow its pace of rate hikes , concerned about the impact that higher interest rates will have not only on the United States but on the wider world economy.
Levels AUD / USD
The eyes are turned towards the 0.73 handle where the feeling of a trade truce, as we have already seen with the correction of today, is ready to pounce. and to target the Fibo at 38.2% at 07443 that meets the SMA 200-D. First, the pair has to cross the two highest peaks around 0.7275 / 80 (23.6% fibo level). 0.7338 was the highest level in 11 weeks for guards to run to SMA 200-D at 0.7428. At the same time, the SMA 10-D index is located at 0.7253 and, while the price is trading below, it is aiming for a move towards the 0.7164 lower which stands at 0.7085 at the bottom. September 10th. 0.7020 are the lowest in 2018.
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