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Netflix (NFLX.O) CEO: We firmly believe that regulators will ultimately deem the deal with Warner Bros. Discovery (WBD.O) to be beneficial to consumers and to growth.On December 17th, Andrew Phillips, Managing Director of V12 Retail Finance Limited, stated in a report that the Bank of England is expected to cut interest rates on Thursday due to lower-than-expected UK inflation data. The UKs annual inflation rate fell to 3.2% in November, below the 3.5% predicted by economists in a Wall Street Journal survey. LSEG data shows that the market expects a 99% probability of a Bank of England rate cut this week.Chairman of the Board of Warner Bros. Discovery Inc. (WBD.O): Shareholder voting will be held in the spring or early summer.On December 17th, James Machett, an analyst at SEI, stated in a report that economic data does not support a change in the European Central Banks (ECB) policy stance. "Given that inflation is near its target level (although still slightly above it) and economic growth remains stable (though not outstanding), we see no reason for the ECB to adjust its policy stance in the near term," Machett said. He noted that after eight consecutive rate cuts between June 2024 and June 2025, the ECB is highly likely to keep rates unchanged this week pending further data. The ECB will announce its interest rate decision on Thursday.On December 17th, Pansen Macro analyst Melanie Debono noted in a report that despite lower-than-expected overall inflation in November, the European Central Bank (ECB) is expected to keep interest rates unchanged this week. The Eurozones overall inflation rate for November was revised to 2.1%, lower than the initial estimate of 2.2% and market consensus. Debono stated that inflation is expected to rise slightly in December, with year-end inflation exceeding expectations, which could prompt the ECB to raise its inflation forecast for next year. The average inflation rate for 2026 is projected to be 1.9%, higher than the ECBs current forecast. "This should be sufficient to prevent the ECB from further easing monetary policy in the new year, especially given our expected acceleration in GDP growth," Debono said.

AUD/USD However, 0.6700 is the key to the upside

Daniel Rogers

Apr 11, 2023 14:41

AUD:USD.png 

 

In the early hours of Tuesday morning in Asia, the AUD/USD receives bids near 0.6650 to recover recent losses. In doing so, the Aussie pair recovers from the lowest levels in two weeks while reversing course from the horizontal support that has been in place for 12 days around 0.6620.

 

Nonetheless, imminent bearish MACD signals and a stable RSI indicate that the AUD/USD pair will continue to decline.

 

The convergence of the 10-day moving average and the support-turned-resistance line from March 10, close to the round number 0.6700, may also threaten the most recent price recovery.

 

Even if the AUD/USD bulls are able to surpass 0.6700, the 50% Fibonacci retracement level of the pair's February-March decline, located around 0.6805, will serve as the final line of defense for the bears.

 

Alternately, a break below 0.6620 could initiate a new decline aiming for the Year-to-Date (YTD) low established in February around 0.6565.

 

Notably, the AUD/USD pair's decline beyond 0.6565 confronts multiple obstacles to the south, including the highs for October 2022 near 0.6545 and 0.6520.

 

After that, a decline to the November 2022 low of approximately 0.6275 cannot be ruled out.

 

Regardless of the recent corrective rally, the AUD/USD remains on the radar of skeptics.


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