EUR/USD 1.14859
0.096%
Gold 4376.53
0.805%
Oil 95.469
-1.085%
USD/JPY 156.726
0.486%
GBP/USD 1.33935
0.269%
GBP/JPY 209.919
0.759%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Politico: Anthropic, OpenAI, SpaceX AI, and Google are being sued for calling for a “slowdown” in AI development.The U.S. State Department has decided to approve the sale of $2.68 billion worth of foreign military equipment to Ukraine to support its air defense development and upgrades.On September 19th, the Shaanxi Provincial Bureau of Statistics released its report on the provinces economic performance in the first eight months of the year: industrial production steadily rebounded, consumer demand continued to be released, and the economy showed a steady and positive development trend. According to relevant personnel from the Provincial Bureau of Statistics, in the first eight months, the added value of industries above designated size increased by 4.6% year-on-year, an acceleration of 0.5 percentage points compared to the first seven months. Industrial production steadily rebounded, and product output grew steadily. Looking at the three major sectors, the added value of mining increased by 7.7% year-on-year, manufacturing by 1.5%, and the added value of electricity, heat, gas and water production and supply by 2.5%. Key industries performed well, with the added value of coal mining and washing increasing by 9.0% year-on-year and the added value of oil and gas extraction increasing by 9.7%. Product output grew steadily, with raw coal output increasing by 3.8% year-on-year and natural gas output increasing by 7.3%.September 19th - According to Shenzhen Railway authorities, the railway transportation period for this years Mid-Autumn Festival and National Day holidays will run from September 23rd to October 8th, lasting 16 days. Shenzhen Railway expects to transport 5.7312 million passengers, averaging 358,200 passengers per day, an increase of 21,500 passengers per day compared to last year, representing a 6.39% increase and setting a new record for the same period. Among them, Shenzhen North Station is expected to transport 3.856 million passengers, averaging 241,000 passengers per day, an increase of 10,400 passengers per day compared to last year, representing a 4.3% increase.On September 19th, French President Emmanuel Macron stated on September 18th that France will push the EU to take action to address energy issues. He also believes that the US and Iran are unlikely to reach an agreement on the Strait of Hormuz in the short term. Macron stated that the sharp rise in fuel prices in recent weeks has created difficult circumstances for French citizens and families. Fuel prices at French gas stations have reached historic highs, causing considerable hardship and exacerbating purchasing power issues. Natural gas prices and the overall energy situation are also worrying, and these circumstances are entirely due to the war and the international situation. Macron said that France hopes to take action at the EU level and will communicate with the President of the European Commission on this matter.

The Australian dollar shrinks gains against the US dollar, but the outlook remains negative

Oct 26, 2021 11:04

After meeting resistance above 0.7300 on Thursday (October 7), the Australian dollar against the US dollar reduced its gains in the European market, despite the rebound in market risk appetite.


The latest round of decline in the Australian dollar may be related to the overall slight rebound of the US dollar. The alleviation of the energy crisis, the progress of the US debt ceiling issue, and market optimism have all restricted attempts to hedge the dollar upwards.

On the other hand, the Australian dollar continued to look for support from the recent surge in natural gas prices, and US natural gas prices soared by 40% on Wednesday. Australia is a net exporter of natural gas and a major exporter of liquefied natural gas (LNG) in the world.

Later, the market will pay attention to the number of initial jobless claims in the United States to seek further hints from Friday's non-agricultural employment data, especially after the strong ADP employment data almost confirms that the Fed will begin to reduce the scale of debt purchases in November. Traders are also waiting for Friday's Reserve Bank of Australia (RBA) monetary policy statement.

AUD/USD technical outlook


Karen Jones, head of fixed income technical analysis at Commerzbank, said that as long as the exchange rate is below the 0.7370 area, the outlook for the Australian dollar against the US dollar is expected to remain negative.

Karen Jones said that the recent strength of the Australian dollar against the US dollar is seen as a corrective rebound. The market’s recent upward move is constrained by the 4-month downward trend line at 0.7370, and we will retain the negative bias. Initial resistance is located at the 50-day moving average of 0.7307.

We expect the Australian dollar to fall to the August low of 0.7106. The key support level remains at 0.7062/0.6991. This represents the lows of September and November 2020. A break below 0.6991 will trigger a further fall to the 0.6760 50% Fibonacci retracement level of the 2020-2021 volatility.

(Australian dollar against the dollar daily chart)

At 18:47 GMT+8, the Australian dollar was quoted at 0.7289 against the US dollar.

Suggestion