An absence of top-tier U.S. knowledge releases means we gotta pay extra consideration to risk-taking!
How is AUD/USD’s chart wanting forward of RBA’s coverage determination?
Earlier than shifting on, ICYMI, I’ve listed the potential economic catalysts that you need to watch out for this week. Test them out earlier than you place your first trades as we speak!
And now for the headlines that rocked the markets within the final trading sessions:
Contemporary Market Headlines & Financial Information:
AU MI inflation gauge up by 1.1% in Could vs. 0.1% downtick in April
AU ANZ job adverts up by 0.4% vs. 2.0% drop in April
Caixin providers exercise information a 3rd straight month-to-month contraction, up from 36.2 to 41.Four in Could
Reuters: Biden to situation a 24-mo waive on photo voltaic panel tariffs from Cambodia, Malaysia, Thailand, and Vietnam
Beijing reopens eating places, lifts COVID restrictions in most areas
Saudi Arabia hikes oil costs sharply, sending US crude futures as much as a 3-month excessive
British PM Boris Johnson to face no-confidence vote from Conservative social gathering between 6-Eight pm native time
Shares, USD agency forward of price conferences, crude hits $120
German, French, and Swiss markets are out on financial institution vacation
U.Ok. BPC retail gross sales monitor at 11:01 pm GMT
Japan’s family spending and common money earnings at 11:30 pm GMT
RBA’s policy decision at 4:30 am GMT
Use our new Currency Heat Map to rapidly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️
What to Watch: AUD/USD
It’s shaping as much as be a risk sentiment kinda day because the U.S. isn’t scheduled to print main knowledge releases whereas the German, French, and Swiss markets are out on financial institution holidays.
If Asian session trading was any clue, then merchants really feel like taking dangers after a better-than-expected U.S. NFP report put a Fed price hike pause on the desk.
It additionally helped that China is reopening its economic system additional beginning with much less COVID restrictions in Beijing.
Can merchants maintain the risk-taking vibes within the subsequent buying and selling periods?
AUD/USD has simply bounced from the .7200 main psychological deal with that lined up with a development line and 100 SMA help on the 1-hour timeframe.
Continuation of risk-taking, together with the pricing in of a 0.40%-interest rate hike from the Reserve Bank of Australia (RBA) may push AUD/USD to its June highs.
Be careful for bearish information, although! If the intraday uptrend that we’re seeing hits a pause or will get knocked down, then development continuation followers can look to the 1-hour chart’s development line help for potential entry zones.