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Each day Asia-London Periods Watchlist: GBP/AUD


GBP/AUD hits the highest of the watchlist this afternoon as we’ll quickly get financial updates from Australia, China and the U.Okay. Will the info spark sufficient volatility for a short-term alternative?

Earlier than transferring on, ICYMI, at the moment’s Each day U.S. Session Watchlist checked out a technical setup on AUD/USD ahead of central bank speak, so be sure you test that out to see if there may be nonetheless a possible play!

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Contemporary Market Headlines & Financial Information:

As deadline looms, Democrats scramble to avert U.S. government shutdown

U.S. pending home sales jump to seven-month high; mortgage applications fall

Powell, Lagarde say elevated inflation will prove temporary

ECB must be ready to act if inflation entrenched, says Makhlouf

Evergrande set to miss second offshore bond coupon payment this month, sources say

Canada Industrial Product Price Index: -0.3% m/m in Aug.; Raw materials price index: -2.4% m/m

British army to start driving tankers, fuel queues persist

First cryptocurrency fund approved in Switzerland

Natural gas drops 7%, sharpest decline since January following big run-up on supply concerns

Upcoming Potential Catalysts on the Economic Calendar

New Zealand Constructing Consents at 9:45 pm GMT
Japan Retail Gross sales, Industrial Manufacturing at 11:50 pm GMT
China Manufacturing PMI at 1:00 am GMT (Sept. 30)
Australia Constructing Permits at 1:30 am GMT (Sept. 30)
China Caixin Manufacturing PMI at 1:45 am GMT (Sept. 30)
Japan Housing Begins, Building Orders at 5:00 am GMT (Sept. 30)
Germany Unemployment Charge at 6:00 am GMT (Sept. 30)
U.Okay. Present Account, GDP at 6:00 am GMT (Sept. 30)
France Inflation Charge at 6:45 am GMT (Sept. 30)
Spain Retail Gross sales at 7:00 am GMT (Sept. 30)
Financial institution of Japan Kuroda speech at 7:10 am GMT (Sept. 30)
Euro Space Unemployment Charge at 9:00 am GMT (Sept. 30)
Italy Inflation Charge at 9:00 am GMT (Sept. 30)

For those who’re not acquainted with the foreign exchange market’s predominant buying and selling classes, try our Forex Market Hours instrument.

What to Watch: GBP/AUD

GBP/AUD 1-Hour Forex Chart
GBP/AUD 1-Hour Foreign exchange Chart

We’ve obtained a gentle stream of financial updates coming quickly within the Asia and London session, however sadly most are mid-to-low tier occasions so the percentages of an enormous transfer are fairly low. However essentially the most notable of the bunch is the newest manufacturing PMI information from China and the newest GDP learn from the U.Okay., making the easy chart setup in GBP/AUD above one to look at for a possible short-term play.

On the one hour chart above of GBP/AUD, we will see the pair had been in a sideways vary final week earlier than Sterling bears took over this week.  Fears of a gas and power disaster within the U.Okay. picked up, prompting merchants to cut back BOE fee hike bets, which is probably going why we noticed GBP/AUD simply break beneath the underside of the vary across the 1.8770 deal with.

But it surely appears like merchants have discovered a backside across the 1.8625 deal with, and it didn’t take lengthy for the market to bounce, prompting the query of whether or not or not that is one other alternative to brief this week’s bearish bias at higher costs?

Effectively, if we see enhancements to Chinese language enterprise sentiment AND a disappointing U.Okay. GDP learn, then at the moment’s bounce is very possible a great alternative for short-term merchants to contemplate a brief play on the pair. The chances of success look good too if the market is already retesting the damaged assist space round 1.8770 and varieties bearish reversal candles.

Within the state of affairs that we see weak Chinese language PMI information and a better-than-expected learn in U.Okay. GDP information, then 1.8600 is the realm to look at for potential bullish reversal candles earlier than contemplating an extended place. Understand that this could be a counter-trend bias, so be cautious with this type of commerce except we get an unexpected catalyst(s) that considerably shifts the driving themes.



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