Fundamental Analysis of AUD/USD for June 14, 2018 888011000 110888 AUD/USD has been rather impulsive, following the bearish bias today after certain indecision with the daily close yesterday. AUD has been just recently struggling amid downbeat financial reports, whereas the recent rate trek in the United States has been a terrific push for the currency to gain momentum in the process.Today, Australia’sEmployment Modification report was published with a reduction to 12.0 k from the previous figure of 18.3 k which was expected to increase to 18.8 k but Unemployment Rate decreased to 5.4 %from the previous worth of 5.6% which was expected to be at 5.5%. MI Inflation Expectation report was released with a boost to 4.2%from the previous worth of 3.7%. On the USD side, the other day the FOMC held a policy conference which was followed by the policy declaration on the federal funds rate. The benchmark rate was lifted to 2.00% from the previous value of 1.75%. There has actually been certain indecision about the impact of the rate walking, USD managed to get sustainable momentum over CAD for a while. Today, United States Core Retail Sales report was published with a boost to 0.9%from the previous worth of 0.4 %which was anticipated to be at 0.5%, Retail Sales also increased to 0.8% which was expected to be unchanged at 0.4%, Joblessness Claims reduced to 218k from the previous figure of 222k which was expected to increase to 223k, and Import Prices stayed the same at 0.6%which was expected to reduce to 0.5%. As for the present circumstance, USD is anticipated to get additional momentum inthe coming days having actually backed by the current positive economic reports followed by the rate hike, whereas AUD is having a hard time amid combined financial reports published recently. To sum up, USD is anticipated to control AUD even more, whereas certain correction and volatility can be observed along the method. Now let us look at the technical view. The price is presently residing at the edge of assistance location 0.7500-50. It is anticipated to press the rate much lower to 0.7350 area in the future if broken with a day-to-day close. Though there has been particular corrections and volatility along the way but to have spontaneous bearish momentum in the future, a break below 0.75 with a daily close is much needed. The material has been offered by InstaForex

By | June 14, 2018

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