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AUDUSD weakened in the Asian trading session on Wednesday to fall to the level of 0.7051, the lowest level since January 4 after Australia released data on fourth quarter GDP in 2018 which grew below estimates.

Data released by the Australian statistics bureau showed that the economy grew 0.2% at the quarterly level in the fourth quarter, not reaching estimates for growth of 0.5% and lower than the previous period for growth of 0.3%. Meanwhile for the annual rate, the Australian economy only grew 2.3% in the fourth quarter, lower than the estimate for 2.5% growth, previously growing at 2.8%.

The below-estimated release of GDP data has validated the latest decision from the RBA to reduce predictions that the next interest rate move will likely rise.



#16 - March 06, 2019, 02:42:06 AM

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AUD/USD struggles harshly hours of hours of daylights high nearly distorted data, USD revolution

The AUD/USD pair seesaws apropos 0.7070 on the order of before Tuesday.
The pair recovered in the future-hours of daylight losses not far afield away and wide off from poisoned data, trade hopes, and the soft greenback.
RBA Dep. Governors speech and the US CPI can pay for full of beans impulse to traders.

The Australian Dollar (AUD) is in version to bids stuffy 0.7070 neighboring-door to the US Dollar (USD) ahead of European markets entry upon Tuesday. The Aussie slid during the at the forefront-hours of daylight easy to attain to of the business survey but soft greenback, bigger than prior home data and expectations of trade conformity along surrounded by the US and China triggered its pullback. Speech from Reserve Bank of Australian (RBA) Deputy Governor Guy Debelle and February month US inflation numbers will be upon traders radar going tackle.

The AUD/USD pair dropped near to 20 pips after the National Bank of Australia (NAB) announced results of its monthly issue survey conducted during February. As per the bank account, issue conditions index fell by 3 points to +4 index points the length of +5 predict whereas issue confidence index declined to +2 index points from +4 marked previous month.

Elsewhere, the Australian Bureau of Statistics moreover presented the January month figures of investment lending for homes and residential loans. The investment lending for homes dropped less than -4.4% prior to -4.1% while burning loans slipped appendix +1.0% forecast to -2.6% but yet remained happening from -6.1% prior.

In totaling to contaminated data at in flames, recent complaint of the US Dollar considering sluggish nonfarm payrolls and a downward revision to previous retail sales numbers in addition to contributed towards AUD/USD stability.

The RBA Deputy Governor Guy Debelle is scheduled to lecture to a speech titled "Climate Change and the Economy" at the Center for Policy Development in Sydney. Chances are high that Debelle might be questioned to validate last week's dovish notes from Governor Philip Lowe.

Also upon spotlight will be monthly inflation figures from the US. The consumer price index (CPI) is likely to remain unchanged at 1.6% upon yearly basis whereas CPI ex-food and animatronics, stage publicize Core CPI, may repeat 0.2% and 2.2% figures upon MoM and YoY basis respectively.
#17 - March 12, 2019, 04:17:54 AM

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AUD/USD keeps the red close 50-hour MA after impure China data

Aussie dollar, a proxy for China, has barely moved in appreciation to a contaminated batch of China data.
China's retail sales ticked forward-thinking ahead of the Lunar New Year Holidays, even though industrial production cooled.
Upbeat spending is currently monster overshadowed by the slowdown in the factory disturb.

AUD/USD continues to trade in the red near the 50-hour upsetting average (MA) desist of 0.7073 despite the enlarged-than-traditional China retail sales data.

Consumption, as represented by retail sales, rose 8.2 percent year-upon-year in the January-February become early as rational of a traditional slip to 8.1 percent from 8.2 percent. 

While spending remained resilient ahead of Lunar New Year holidays, the factory ruckus cooled significantly. China's industrial production in the January-February times increased 5.3 percent, missing the predict of 5.5 percent year-upon-year rise, subsequently a 5.7 percent press in front in December.

While holidays may have disrupted economic brawl, the slowdown in industrial production could, in addition, to be allied gone the ongoing trade issues once the US. After all, China's exports tumbled the most in three years in February.

At press era, an above-forecast retail sales simple is creature overshadowed by the hopeless industrial production figure. This is evident from the pale appearance in the AUD/USD. The currency pair fell 9 pips to a session low of 0.7067 gathering-China data and no-one else to rise put going on to to the 50-hour MA, currently at 0.7073.
#18 - March 14, 2019, 09:41:29 AM

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AUSSIE DISAPPEARED AFTER MANUFACTURING ACTIVITIES DECREASED


AUDUSD weakened after the Australian flash manufacturing PMI in March fell to 52.0 vs 52.9 the previous month. The return of safe-haven sentiments related to North Korea also weighed on the Aussie.

At writing, AUDUSD is trading at 0.7104, down 5 pips from the close of the New York session last night.

A new wave of risk aversion is gripping the Asian market amid the latest US-North Korea problems. The US tightened sanctions to North Korea after the failed Trump-Kim Jong un agreement in Vietnam. Two Chinese companies are penalized for doing business with North Korea.

While other news that boosted safe-haven sentiment was China reportedly wearing an anti-dumping policy on several products from the European Union (EU), Japan, South Korea and Indonesia, causing higher yields on US Treasury.
#19 - March 22, 2019, 05:24:43 AM

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The Australian and New Zealand dollars also traded higher because the price of gold moved up. There are also reports from China that trade agreements can be reached in the third or fourth week of May. This is an important week for the New Zealand dollar but before the New Zealand Central Bank monetary policy announcement is made, we get the latest outlook on the country's trading activity. Last month, the country reported the biggest trade deficit in more than 12 years so a narrower balance was expected even though the PMI showed ongoing weakness in the manufacturing sector.
#20 - March 28, 2019, 01:06:40 AM

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AUDUSD STRENGTHS TO 0.7121 INCREASING CHINA MANUFACTURING ACTIVITIES RESPONSE


A surprise increase in Chinese factory activity supported the yuan and Australian dollar on Monday, and provided a broader boost for global investor confidence, helping the dollar strengthen against the safe-haven yen.

Factory activity in China unexpectedly grew for the first time in four months in March, an official survey showed on Sunday, a sign that the government's stimulus might begin to hold the second largest economy in the world.

China's Purchasing Managers' Index (PMI) rose to 50.5 in March from a three-year low in February at 49.2, beating the median estimate of economists at 49.5.

That boosted the Australian dollar, often seen as a proxy for investment in China's economic outlook, up 0, 39 percent or 28 pips to $ 0.7121.

Ayako Sera, market economist at Sumitomo Mitsui Trust Bank, suspects that the stimulus policy from the Beijing government is effective in overcoming China's economic downturn.
#21 - April 01, 2019, 04:02:26 AM

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The AUDUSD pair traded higher on Wednesday (04/17/2019) responding to China's Gross Domestic Product (GDP) data which exceeded analyst estimates. The stretching Chinese economy has raised optimism that the economic slowdown has come to an end.

At time of writing, AUDUSD is trading up 0.30 percent or 22 pips to 0.7194.

China's economic growth data which reached 6.4 percent during the first quarter compared to the same quarter last year exceeded the estimates of economists surveyed at 6.3 percent and the same as the previous period's data.

The Aussie as a proxy for China's economy has had a positive impact from China's economic growth which imports metal raw materials from Australia.
#22 - April 17, 2019, 12:25:42 PM

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The Aussie edged higher in Wednesday's trade (1/5/2019) with the support of strengthening was the rise in copper commodity prices, the mainstay of the continent's export commodity.

AUDUSD is trading at 0.7051, up 0.04 per cent or 3 pips.

Copper prices rose early Wednesday after investors bet that China, the world's largest base metal consumer, will respond to weak factory data by implementing new stimulus measures.

Copper prices for the three-month delivery contract on the London Metal Exchange closed up 0.3 percent to USD6,415 per ton, Reuters reported Wednesday (1/5) early morning hrs.

The metal used in the electricity and construction sector surged about eight percent this year, with hopes that China could prevent a sharp economic slowdown, even though prices were trapped in around USD6,500 since the end of February
#23 - May 01, 2019, 05:06:06 AM

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AUDUSD has the potential to move down to test the support level 0.6950 - 0.6930 because of the potential for a further dollar increase as US labor data released is more positive. AUDUSD support is in the range of 0.7000 - 0.7030.
#24 - July 08, 2019, 01:04:27 PM

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AUDUSD has a chance to move down in the short term if the Chinese economic data is released more pessimistic than the estimate to test the support at 0.6990 - 0.6940. However, if the released data is optimistic it's likely to push AUDUSD up to target resistance at 0.7050 - 0.7100 amid the weakening US dollar sentiment.
#25 - July 15, 2019, 12:15:27 PM

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AUDUSD has settled at its lowest level since June 21, and maintains a strong bearish stance, according to technical readings on the daily chart, because it is now developing below all its moving averages, and with 20 DMA gaining strength below a larger DMA. The Momentum indicator heads lower below the 100 level, while the RSI accelerates its slump, heading sharply south around 39. In the 4-hour chart, the 20 SMA crosses below a larger SMA, maintaining a strong bearish slope, while the technical indicators have stabilized on extreme oversold levels, more reflecting the lack of volume on weekends than showing fatigue down. A break below 0.6880, immediate support, will anticipate a further decline towards the 0.6820 price zone.
#26 - July 29, 2019, 12:44:09 AM

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AUDUSD has the opportunity to move to continue the decline in the short term to test the support level at 0.6830 - 0.6800 due to pressure from waning optimism about the US-China trade agreement. AUDUSD resistance is in the range 0.6880 - 0.6900.
#27 - November 11, 2019, 05:14:39 AM

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AUDUSD has a chance to go down to test the support of 0.6800 - 0.6810. Conversely, the resistance level is in the range 0.6860 - 0.6880
#28 - December 09, 2019, 02:57:23 PM

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Today the news that needs to be considered relating to the movement of the AUDUSD is the Building Permits data in Australia in November 2019. For November 2019 it is estimated that the number of building permits will increase by 2.1%. Results released higher than expected will tend to cause AUDUSD to strengthen.
#29 - January 07, 2020, 11:14:49 PM

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Today there will be news of Australia's trade balance data for November 2019 which will affect AUDUSD. For November 2019 it is estimated that Australian trade will return a surplus of AUD 4.10 billion. A surplus that is higher than expected will tend to cause AUD to strengthen.
#30 - January 08, 2020, 10:02:05 PM
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