AUD/USD below 0.7550 after 'as expected' US CPI

Currently, AUD/USD is trading at 0.7544, down -0.30% on the day, having posted a daily high at 0.7567 and low at 0.7540.

AUD/USD slightly offered post-data

A packed US docket hasn't delivered premium results, but as usual, a "good enough" data keeps dollars bulls ahead of the short-sellers herd. Furthermore, US CPI printed a marginal, but significant +0.3% increment to meet consensus expectations at 2.1% y-o-y. Then, one to keep an eye on is the ExFood & Energy CPI with a marginal increase +0.1 to meet expectations at 2.2% y-o-y; positive but nothing to jump from one's seat.

To note, historical data during January indicates a higher performance for the Australian dollar at +1.18% (yesterday's data) and a lower performance at -0.49% (Jan. 6 data).

Australian Jobs report; uptrend global manufacturing

Research Team at Growth Aces notes that the Australian dollar held near two-month highs on Wednesday as traders unwound their long positions in the greenback after U.S. president-elect Donald Trump expressed concerns at the currency's strength.

The report continues, "Investors will keep a close eye on jobs data for December due on Thursday to take the pulse of the Australian economy, which contracted in the third quarter of last year. We believe the Australian jobs report should be the highlight of the week for commodity currencies. The AUD has been benefiting from the rise in commodity prices and judging by the uptrend in global manufacturing this is unlikely to change in the foreseeable future."

"If the labor market report manages to surprise to the upside this will likely provide an additional boon to the currency. Recently, aggregate job gains have been robust but the most important development has been a notable improvement in the composition of employment with full-time additions being the primary driver. If this trend is corroborated by the figures next week, labor market gains will be regarded as more sustainable."

AUDU/USD Levels to watch

In terms of technical levels, upside relevant barriers are aligned up at 0.7564 (today's high) and above that at 0.7777 (Nov. 2016 high). While critical supports are aligned at 0.7521 (50-SMA), 0.7504 (100-SMA) and below that at 0.7434 (200-SMA).

Markets Stabilize, Awaiting Fresh Cues