EUR/USD 1.17195
0.981%
Gold 3373.09
1.032%
Oil 63.693
0.481%
USD/JPY 146.956
-0.958%
GBP/USD 1.35180
0.784%
GBP/JPY 198.637
-0.175%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 23, the Italian Postal Service announced that the company will officially suspend the delivery of packages to the United States from August 23, but can continue to receive mail without goods sent to the United States.According to a report released by the Indonesian Meteorological, Climatological and Geophysical Agency on August 23rd, a magnitude 5.8 earthquake struck 51 kilometers southeast of the Aceh Special Region of Indonesia at 7:24 PM local time on August 23rd. The epicenter was located at 2.03 degrees north latitude and 96.52 degrees east longitude, with a depth of 12 kilometers. No tsunami risk is expected.Ukrainian President Volodymyr Zelensky said after a phone call with South African President Cyril Ramaphosa that the global South should help push Russia towards peace.According to US media reports on August 23rd, the Texas Senate passed a bill to redraw the states congressional districts by a vote of 18 to 11 in the early hours of the 23rd. The bill is expected to help Republicans gain five more House seats in Texas in next years midterm elections. The bill, which had already passed the Texas House of Representatives, will be submitted to Republican Governor Abbott after its passage by the Texas Senate. Abbott has previously stated that he will sign the bill.On August 23rd, Coca-Cola has hired investment banks to assist in evaluating the potential sale of its UK coffee chain Costa Coffee, according to people familiar with the matter. The Atlanta-based beverage giant has commissioned Lazard to evaluate various options and explore market interest in the business, which it acquired for £3.9 billion in 2018. Coca-Cola has reportedly held preliminary discussions with some potential buyers, including private equity firms. Sources stated that there is no certainty that a transaction will proceed, and Coca-Cola may ultimately choose not to sell.

As the US labor market strengthens and China CPI is anticipated, AUD / USD Appears Vulnerable Near 0.6600

Alina Haynes

Mar 09, 2023 13:59

 AUD:USD.png

 

The AUD / USD pair is displaying a back-and-forth pattern during the Asian session below the round-level resistance of 0.6600. The Australian asset appears vulnerable at the same time that the risk-aversion theme has been strengthened by intensifying fears of a U.S. recession and expectations of higher rates from the Federal Reserve (Fed).

 

S&P500 futures are displaying nominal losses following a fragile recovery move. It seems that the dead cat recovery move by the 500-US stocks basket is tapering away. The US Dollar Index (DXY) has turned sideways above 105.20 after a modest correction; however, the upside appears favored amid positive U.S. Employment data.

 

The robust addition of new jobs to the US labor market in February as a result of rising demand has validated Fed policymakers' concerns about persistent inflation. The United States Automatic Data Processing (ADP) reported an increase of 242K positions in February, exceeding both the expected increase of 200K and the previous release of 119K. As a result, Fed Chair Jerome Powell stated, "The Fed is prepared to announce more rates to reduce inflation."

 

The US Nonfarm Payrolls (NFP) data, which will be released on Friday, will provide investors with greater insight into the state of the US labor market. In addition, the dissemination of the Unemployment Rate and Average Hourly Wages will be crucial.

 

The Australian Dollar has been under intensified pressure following the Reserve Bank of Australia's (RBA) fifth consecutive 25 basis point (bps) rate hike and RBA Governor Philip Lowe's consideration of a policy-tightening suspension in response to a one-time blip in the monthly Consumer Price Index (CPI).

 

Investors are currently focused on China's Consumer Price Index (CPI) (February) data. It is anticipated that China's annual CPI will decrease to 1.9% from the previous release of 2.1%. The monthly CPI in China has been reduced to 0.2% from 0.8% previously. If inflation declines, the Chinese government and the People's Bank of China (PBOC) may be forced to infuse more liquidity into the economy.


Suggestion