9 Jul 2015
AUD/USD: strong bids after key data
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7416 with a high of 0.7455 and a low of 0.7391.
AUD/USD has been volatile over the release in the Australian employment report and Chinese CPI data.
AUD/USD fundamentals
Aussie is trading in a broadly weak environment, but bid on recent data. However, the Aussie will continue to be weighed upon for some time over the Greek debacle and prospects of a Chinese debacle also that markets are beginning to increased attention and fears to.
Today ,the Chinese A50 futures opened +5%, while CPI Consumer Price Index (MoM) (Jun) arrived at 0.0% vs -0.1% expected.
Then, at the same time we had the Australian employment change for June came at 7.3k vs -5k expected and 42k last. The participation rate was 64.8% vs 64.7% prior.
AUD/USD is technically
Karen Jones, chief analyst at Commerzbank explained that they look for losses to the base of the 2 year channel at 0.7193 longer term. "Near term the market remains offered below the 0.7675 short term resistance line." Analysts at UOB Group explained that there is no change to their view and they continue to expect a move to 0.7350, likely in the next 1 to 2 days.
AUD/USD has been volatile over the release in the Australian employment report and Chinese CPI data.
AUD/USD fundamentals
Aussie is trading in a broadly weak environment, but bid on recent data. However, the Aussie will continue to be weighed upon for some time over the Greek debacle and prospects of a Chinese debacle also that markets are beginning to increased attention and fears to.
Today ,the Chinese A50 futures opened +5%, while CPI Consumer Price Index (MoM) (Jun) arrived at 0.0% vs -0.1% expected.
Then, at the same time we had the Australian employment change for June came at 7.3k vs -5k expected and 42k last. The participation rate was 64.8% vs 64.7% prior.
AUD/USD is technically
Karen Jones, chief analyst at Commerzbank explained that they look for losses to the base of the 2 year channel at 0.7193 longer term. "Near term the market remains offered below the 0.7675 short term resistance line." Analysts at UOB Group explained that there is no change to their view and they continue to expect a move to 0.7350, likely in the next 1 to 2 days.