The Australian dollar enjoyed a short relief thanks to the RBA meeting minutes, but this correction seems to have been a sell opportunity. AUD/USD fell back to the lower range under 0.73 While the USD is gaining ground all across the board thanks to a hawkish tone from 3 FOMC members, the Australian dollar remains the weakest link, suffering the biggest losses. There are three reasons for this: Disappointing Australian wages: The Australian Wage Price Index rose only 0.4%, worse than 0.5% expected. Also year over year, the rise is only 2.1% and not 2.2% expected. Worries about Chinese debt: The story about a credit bubble in the Chinese private sector and especially around housing is not new, but it has been echoed several times, especially after The Economist made an in-depth article. The headlines and comments are incessant. Caution ahead of the Australian jobs report: After a few strong months of job gains, the labor market cooled down in the land down under. A positive surprise was seen in the March report, but many analysts see this as a one-off. The expectations for the April report coming out soon are already lower and probably for good reasons. See how to trade the Australian jobs report with AUD/USD. Here is how it looks on the hourly chart: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Euro-zone core inflation downgraded to 0.7% – EUR/USD pressured Yohay Elam 6 years The Australian dollar enjoyed a short relief thanks to the RBA meeting minutes, but this correction seems to have been a sell opportunity. AUD/USD fell back to the lower range under 0.73 While the USD is gaining ground all across the board thanks to a hawkish tone from 3 FOMC members, the Australian dollar remains the weakest link, suffering the biggest losses. There are three reasons for this: Disappointing Australian wages: The Australian Wage Price Index rose only 0.4%, worse than 0.5% expected. Also year over year, the rise is only 2.1% and not 2.2% expected. Worries about Chinese debt:… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
