The Aussie traded lower Wednesday against the US Dollar following a generally lower Greenback after a US report of worse than expected private sector employment growth, and lower manufacturing activity. The Aussie was trading at 1.0659, down 0.12% at the time of this writing.
Here’s a quick update on technicals, fundamentals and community trends.
- Previous sessions: The Aussie traded initially higher during the first half of the session, before gradually falling throughout the afternoon to its current level.
- Current range: 1.0653 – 1.0753
- Further levels: Below: 1.0624, 1.0641, 1.0661 Above: 1.0698 1.0715, 1.0735
- AUD / USD likely to find support at 1.0609, and resistance at a high of 1.0757.
- 02:30 Australia Retail Sales m/m Exp. 0.4% Prev. -0.5%
- 02:30 Australia Trade Balance Exp. 2.13B Prev. 1.74B
- 13:30 US Unemployment Claims Exp. 416K Prev. 424K
- 13:30 US Revised Nonfarm Productivity q/q Exp. 1.8% Prev. 1.6%
- 13:30 US Revised Unit Labor Costs q/q Exp. 0.8% Prev. 1.0%
- 15:00 US Factory Orders m/m Exp. -0.3% Prev. 3.4%
- 15:30 US Natural Gas Storage Exp. 92B Prev. 105B
- 16:00 US Crude Oil Inventories Exp. -1.7M Prev. 0.6M
- 23:45 New Zealand Building Consents m/m Prev. 2.2%
* All times are GMT.
For the major events due later in the week, see the AUD/USD forecast.
- The Aussie was boosted by a report that Australia’s economic growth contracted less than expected during the first quarter.
- US private sector jobs were expected to rise 178k but data shows that it only rose 38k, far below expectations.
Currensee Community: 50% are short, 50% are long. 341 open positions in real accounts trading this pair at the moment. The community is currently neutral on expectations of future levels of the pair ahead.Get the 5 most predictable currency pairs