EUR/USD 1.18153
0.158%
Gold 5263.32
1.523%
Oil 67.175
2.731%
USD/JPY 156.171
0.028%
GBP/USD 1.34769
-0.043%
GBP/JPY 210.475
-0.006%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 28th - According to the State Grid Corporation of China, during the 15th Five-Year Plan period, the State Grid will strengthen its power grid resource allocation capabilities, enhance its new energy carrying capacity, and serve the high-quality development of new energy. It is reported that during the 15th Five-Year Plan period, the State Grid will strengthen the construction of power grids at all levels, strive to put 15 ultra-high voltage direct current (UHVDC) projects into operation, increase inter-provincial power transmission capacity by 35%, and more than double the capacity for flexible power exchange between regions, meeting the needs of large-scale and efficient allocation of new energy.Pakistani officials say more than 330 Taliban militants have been killed in Afghanistan.February 28th - Trump Media & Technology Group released its 2025 financial results report on February 27th. The report shows that the groups financial assets in 2025 will be $2.5 billion, and its operating income will be $3.7 million.February 28th - According to Ukraines Interfax news agency on the 27th, Ukrainian President Volodymyr Zelenskyy, in an interview with Sky News, stated that the Russia-Ukraine conflict could become "protracted" if Russia does not agree to a trilateral summit between the leaders of Ukraine, the United States, and Russia in the near future. Zelenskyy said he had spoken with US President Trump, emphasizing the need for a trilateral summit between Ukraine, the US, and Russian President Putin. He added that if Putin does not support this, the conflict could become "protracted." With the US midterm elections approaching, the situation could become even more complex, as the US will then focus on domestic issues. If Putin is willing to hold a trilateral summit, it could potentially take place within six months, attempting to end the conflict.In a speech in South Carolina, former US President Joe Biden declared that he had handed over "the strongest southern border" and "the worlds strongest economy" to incumbent President Donald Trump. "This is not an exaggeration."

As the Fed Minutes weigh on the U.S. Dollar, AUD/USD bulls seek acceptance over 0.6700

Daniel Rogers

Nov 24, 2022 14:55

 截屏2022-11-24 上午9.52.06.png

 

Despite quiet around 0.6730-40 during Thursday's Asian session, the AUD/USD remained on buyers' radar. Possible causes include the massive selling of the US currency and the cautious optimism of the market.

 

The US Dollar Index (DXY) dropped the most in two weeks the day before the release of the minutes from the most recent meeting of the Federal Open Market Committee (FOMC), which revealed that policymakers addressed the need to delay rate hikes. According to the Federal Reserve Minutes, reports about the Federal Reserve's (Fed) "sufficiently restrictive" interest rate level also weighed on the dollar.

 

Significant bearish drivers for the AUD/USD pair in November were the worse US PMIs and the high Jobless Claims data. The US S&P Global Manufacturing PMI for November declined to 47.6 from 50.0 expected and 50.4 previously, while the Services PMI decreased to 46.1 from 47.9 anticipated and 47.4 previously. The S&P Global Composite PMI fell to 46.3 in November from 47.7 expected and 48.8 prior readings.

 

Despite this, the United States Weekly Jobless Claims jumped by the most since June, at 240K compared to 225K expected and 220K prior, boosting sentiment and weakening the US Dollar.

 

Alternately, robust prints of the US Durable Goods Orders, up 1.0% in October compared to 0.4% indicated estimates and a downwardly revised 0.3% previously, combined China's covid difficulties and negative prints of Australia's S&P Global PMI for November to challenge the AUD/USD bulls. The market's attention on the Fed Minutes and the likelihood of a Coronavirus recovery appears to have bolstered Aussie pair buyers.

 

Despite these wagers, Wall Street closed in positive territory, while US Treasury yields decreased and devalued the US Dollar.

 

A lack of noteworthy data/events and a US holiday may allow the AUD/USD pair to retain a portion of its recent gains. China's COVID-19 concerns and the Reserve Bank of Australia's dovish inclination may be on the same line (RBA). Bulls are poised to keep dominance despite diminishing prospects for quick Fed rate hikes.

 

A convincing upward breach of the 100-day simple moving average and a one-week-old declining trend line near 0.6695 and 0.6590, respectively, has buyers of the AUD/USD pair eyeing the monthly high above 0.6800.

Suggestion