AUD/USD Perceives Soft Landing at 0.6990 Price Level, Investors Anticipate Australian Employment Statistics
Login

AUD/USD Perceives Soft Landing at 0.6990 Price Level, Investors Anticipate Australian Employment Statistics

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


AUD/USD had a price rebound very early into the Asian trading period, as the risk-taking sentiment drive weakens. The major is anticipating a price directional change from its important support of the 0.6690 level. This is because the economic calendar has very few economic activities as it concerns the AUD/USD.

As well, the dollar index (DXY) experienced little change in direction during the Asian trading period today after it rallied yesterday. The DXY dropped by 1.5%, following its reach of a new nineteen years high of 105 last week. An actively increasing interest rate of 50bps by the Federal Reserve (Fed) is not able to maintain the dollar’s upward trend.

AUD/USD Perceives Soft Landing at 0.6990 Price Level, Investors Anticipate Australian Employment Statistics

Factors Influencing the AUD/USD Value

The Fed is trying to stabilize its financial state shortly. This is because rising inflation keeps affecting the income of families within the Fed’s economy. It will not be an astonishment if the Fed introduces two more big interest rates this year. This will consequently affect the USD.

From the AUD perspective, traders are stuck in an unanticipated hawkish RBA (Reserve Bank of Australia) interest rate. The publication of the RBA’s minutes yesterday directed that they are weighing in on interest rate increases. This signals that the RBA has commenced moving its interest rate inflection away from its lowest levels. The interest rate adjustment by the RBA will influence the AUD/USD price.

Conclusion
The main event for this week will be the publication of the job statistics by the Australian Bureau of Statistics. It is anticipated thatt the Bureau will publish a job addition in the entire labor force of 30,000. The 30,000 labor force addition is more than the previous release of 17,500. In addition, the unemployment rate might reduce to 3.90 percent from the previous 4.00 percent. And, better performance of the Australian job statistics will consequently strength the AUD.

You can purchase Lucky Block here: Buy LBlock

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News