AUD/USD Eyes Key Data After Breaking 0.6600
AUD/USD Eyes Key Data After Breaking 0.6600
The AUD/USD extended its rally passed the critical 0.6600 mark to hit new three-week highs. Traders now turn their attention to the upcoming Australian Consumer Inflation Expectations and Unemployment.
The pair faces immediate resistance at the 200-day moving average, followed by the 0.668 level. On the downside, initial support could be the 100-day moving average, with further backing at the 50-day moving average.
In the U.S., the spotlight shifts to the July Consumer Price Index (CPI) due Wednesday.
Earlier today, the Producer Price Index (PPI) data showed a 2.2% year-over-year increase for July, down from the 2.7% rise in June. PPI often acts as an early indicator for upcoming CPI inflation.
Market participants are currently pricing in a roughly 54% chance of a 50-basis-point Fed rate cut in September, a probability that could increase following the PPI data.
The AUD/USD extended its rally passed the critical 0.6600 mark to hit new three-week highs. Traders now turn their attention to the upcoming Australian Consumer Inflation Expectations and Unemployment.
The pair faces immediate resistance at the 200-day moving average, followed by the 0.668 level. On the downside, initial support could be the 100-day moving average, with further backing at the 50-day moving average.
In the U.S., the spotlight shifts to the July Consumer Price Index (CPI) due Wednesday.
Earlier today, the Producer Price Index (PPI) data showed a 2.2% year-over-year increase for July, down from the 2.7% rise in June. PPI often acts as an early indicator for upcoming CPI inflation.
Market participants are currently pricing in a roughly 54% chance of a 50-basis-point Fed rate cut in September, a probability that could increase following the PPI data.
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Stock Market Newsletter:
blackbullresearch.substack.com/
Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbullresearch.substack.com/
Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.