|Day's range||0.687 - 0.687|
|52-week range||0.6672 - 0.7295|
Based on Friday’s close at .6872, the direction of the AUD/USD on Monday is likely to be determined by trader reaction to the main 50% level at .6876.
The Aussie and Kiwi were also underpinned by the inking of the trade deal, but domestic economic concerns limited gains as well as increasing chances of central bank rate cuts. Demand for higher-yielding assets drove the Japanese Yen lower.
The Australian dollar went back and forth during the course of the week, trying to break out to the upside but then pulling back. Ultimately, this is a market that will be paying attention to Asia, because that will give Australia its clues.
The Australian dollar continues to be very choppy and noisy right around the 200 day EMA, an area that will cause a lot of attention for longer-term technical traders.
The British pound is steady, but could receive a boost if retail sales delivers a solid gain (release on Friday at 9:30 GMT). The story of the week has been the Chinese yuan, which has climbed to a 7-month high against the U.S. dollar.
With significant downside risks to the global economy turned aside, and worries over a possible recession diminishing, there is a sprouting belief supported by evidentiary proof in the data that global growth could gain momentum over the coming months.
The pound has remained steady this week, despite some dismal economic data. GDP declined by 0.3% in November and inflation slowed to 1.3% in December. If the soft economic numbers keep coming, the pound could find itself in 1.29 territory in a hurry.
Based on the early price action and the current price at .6904, the direction of the AUD/USD the rest of the session on Thursday is likely to be determined by trader reaction to .6920.
The Australian dollar has pulled back a bit during the trading session on Wednesday but has seen buying come back into pick this market back up. The question now is whether or not we can make a bigger move. We are hovering around the 200 day EMA, which of course is something that a lot of people pay attention to.
Based on the early price action and the current price at .6897, the direction of the AUD/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the main 50% level at .6893.
The Australian dollar has pulled back initially during the trading session on Tuesday but continues to find support at the 200 day EMA.
The pound has clawed its way back above the 1.30 line. Still, this week’s soft GDP release underscores a weak British economy, which could dampen investor sentiment towards the pound.
The pound continues to lose ground and fell below the symbolic 1.30 line on Monday. A contraction in November GDP points to a weak British economy, which could mean more turbulence for the currency.
Based on the early price action, the direction of the AUD/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the main 50% level at .6893.
The Middle East crisis continued to escalate in the first half of last week. But then the fears have diminished and investors were awaiting Friday’s monthly jobs data release. Will the coming week bring some interesting news events? Let’s take a look at the details.
China’s trade surplus widens ahead of tomorrow’s signing. It remains to be seen whether the numbers will catch the President’s eye…