Yesterday, the AUDUSD price drew a long-body bearish candlestick with a shadow on the top candle.
AUDUSD price fell to the initial track near the MA 200 and middle band line which is the mean value of price deviation.
One of the reasons for the decline in AUDUSD prices was weaker commodity prices on Wednesday. Additionally, yesterday's US inflation data slightly supported the strengthening of the USD.
Meanwhile, the RBA maintained its benchmark interest rate at 4.35% due to its cautious stance not to rush into easing its policy. Core CPI is projected to reach the midpoint of the 2-3% range by the end of 2026.
RBA Governor Michele Bullock stated that an interest rate cut would not happen and he did not hesitate to raise interest rates if necessary to control inflation, reflecting a hawkish stance because inflation remains high.
Today investors are waiting for Australian Employment Change and Unemployment Rate data. Expected Employment Change of 20.2k is lower than the previous 50.2k and the Unemployment Rate is predicted to be the same as the previous data of 4.1%.
Apart from that, other important news is US retail sales and Unemployment Claims which are also of concern to investors.
View attachment 7272
AUDUSD price fell to the initial track near the MA 200 and middle band line which is the mean value of price deviation.
One of the reasons for the decline in AUDUSD prices was weaker commodity prices on Wednesday. Additionally, yesterday's US inflation data slightly supported the strengthening of the USD.
Meanwhile, the RBA maintained its benchmark interest rate at 4.35% due to its cautious stance not to rush into easing its policy. Core CPI is projected to reach the midpoint of the 2-3% range by the end of 2026.
RBA Governor Michele Bullock stated that an interest rate cut would not happen and he did not hesitate to raise interest rates if necessary to control inflation, reflecting a hawkish stance because inflation remains high.
Today investors are waiting for Australian Employment Change and Unemployment Rate data. Expected Employment Change of 20.2k is lower than the previous 50.2k and the Unemployment Rate is predicted to be the same as the previous data of 4.1%.
Apart from that, other important news is US retail sales and Unemployment Claims which are also of concern to investors.
View attachment 7272
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