Uncle Sam is about to print experiences which will or could not assist yesterday’s disappointing ADP report.
How will at present’s tendencies have an effect on AUD/USD’s response to a resistance zone?
Earlier than shifting on, ICYMI, at present’s Asia-London session watchlist AUD/NZD’s technical area of significance while watching out for pandemic-related updates. Remember to take a look at if it’s nonetheless a legitimate play!
And now for the headlines that rocked the markets within the final trading sessions:
Contemporary Market Headlines & Financial Knowledge:
Upcoming Potential Catalysts on the Economic Calendar:
- Eurozone’s PPI at 9:00 am GMT
- U.S. Challenger job cuts at 11:30 am GMT
- U.S. constructing permits at 12:30 pm GMT
- U.S. commerce steadiness at 12:30 pm GMT
- U.S. preliminary jobless claims at 12:30 pm GMT
- U.S. manufacturing unit orders at 2:00 pm GMT
In the event you’re not accustomed to the foreign exchange market’s essential buying and selling periods, take a look at our Forex Market Hours instrument.
What to Watch: AUD/USD
Australia had performed it once more!
Knowledge printed earlier confirmed the Land Down Beneath clocking in a record-high commerce surplus in July because of sturdy will increase in iron ore, core, and liquefied pure fuel exports. The report got here a day after the economic system’s Q2 2021 development figures additionally shocked to the upside.
It’s not the G.O.A.T outcomes nevertheless it’s not not GOAT vibes, ya know what I imply? Aussie bulls partied within the pip streets and now AUD/USD is buying and selling simply above the .7350 zone.
Factor is, the .7400 resistance is actually hanging over AUD/USD’s rally. As you’ll be able to see, the psychological stage helped the Aussie finish the month close to its month-to-month lows.
Can AUD/USD eke out extra good points? All eyes shall be on the U.S. Challenger job cuts and preliminary jobless claims, which can or could not again up the anti-dollar ADP report from yesterday.
If at present’s employment-related releases level to a weak U.S. non-farm payrolls (NFP) studying tomorrow, then AUD/USD may break by way of .7400 like bullet by way of bathroom paper.
But when at present’s experiences trace at extra labor market wins for Uncle Sam, or if merchants take a few of their high-yielding bets off forward of the NFP launch, then AUD/USD may retrace to this week’s inflection factors or dip nearer to the 100 and 200 SMAs.