AUDUSD Forecast: Australian Dollar is Under Pressure of Global Marketing Selling.
Shares in Australian Dollar Emotions with Global Selling and Risk What will happen next? In a busy week, inflation and retail sales are included among other statistics. Here is an updated technical analysis for the week’s highlights and AUD/USD.
RBA officials did not stop the boat last week and rocked the AUD/USD with steps in the global markets. Chinese officials only provided short-term relief to the efforts to calm the markets by announcing excitement.
Stocks dropped worldwide and Australian, a risk currency dropped. American figures were mixed and the decline is more related to the tariff and the Fed’s policy than any concrete.
AUDUSD Fundamental Analysis Oct. 29 – Nov. 2
1. Building Approval: Tuesday, 00:30. The number of building consent varies rapidly, but still provides useful information about the housing sector. Acceptance in August was 9.4% and in September it is estimated to increase by 3.9%.
2. CPI: Wednesday, 00:30. The bottom of the ground publishes official inflation figures, which occur only once per quarter, thereby affecting other numbers. The Consumer Price Index Q2 increased by 0.4% Q / Q, while the trimmed mean CPI (in other countries, known as the original inflation) increased to 0.5%. We can be more. Headline inflation is projected to increase by 0.5% and the core CPI is projected to increase to 0.4%. This time. The annual level of inflation was 2.2%, whereas the core CPI was 1.9% in Q2.
3. Private sector credit: Wednesday, 00:30. Increased credit in the private sector means more economic activity. Credit increased by 0.5% in August and increased by 0.4% in September.
4. AIG Manufacturing Index: Wednesday, 00:00. The PMI-like survey of the Australian industry group was 59 points in September, indicating strong growth in the region. A weak figure is now possible.
5. Business balance: Thursday, 00:30. Australia enjoyed a trade surplus of 1.6 billion A $ in August and now it is estimated to increase to surplus 1.71 billion in September.
6. Import Price: Thursday, 00:30. The prices of imported goods feed in consumer prices. Quarter figure Q2 decreased by 3.2%. Now we will get the figures for Q3. After the CPI has already been published, the numbers have not had a very significant impact on the markets. There is a modest increase of 1.1% on the card for Q3.
7. Chinese Caxine Manufacturing PMI: Thursday, 1:45. This independent gauge of China’s manufacturing sector is important to Australia and its metal exports to the world’s second-largest economy. In September, a full balanced score of 50 points was observed. There is a minimum increase of 50.1 on the card for October. A drop contraction below 50 points implies.
8. Retail sale: Friday, 00:30. In September, Australian people increased their expenditure by 0.3%, a fine figure. The same level is expected now The mining sector is playing a growing role in the domestic consumption economy, with gradually coming out of the limelight.
9. PPI: Friday, 00:30. Producer Price Index (PPI) provides more information about the status of inflation. Just like import prices, if limited impact, the number is late.
Technical Chart Analysis
AUDUSD Technical Analysis Oct. 29 – Nov. 2
1. 0.7480 captured the pair in mid-July and saved the level of 0.75. 0.7420 added two pairs in mid-July. In mid-July, there was 0.7360 low point.
2. 0.7310 is at the lower level of July 2018. The swing was low at the end of August 0.7240 and the pair attempted to reach mid-September.
3. The round number of 0.7200 was temporary low. 0.7150 was a stepping stone on the way in early September. In the middle of October 0.7040 was the last defense before the low point and the round number of 0.70.
4. The round number of 0.70 is closely watched by many market participants. Close, played a role in 0.6970 January 2017. Below, only the notable level is only 0.6825, which supports the pair at the end of 2016 and at the beginning of 2017.