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US retail sales rose 0% month-on-month in October, below the expected 0.1% and the previous months figure was revised from 0.2% to 0.1%.December 16th - Analyst Chris Anstey stated that todays non-farm payroll report is crucial for Federal Reserve policymakers. Although the next interest rate decision isnt until January 28th, when the Fed will have the December data, this report isnt the decisive factor from that perspective. However, depending on the data, its likely to influence judgments about the wisdom of last weeks rate cut decision. There was significant disagreement within the Fed regarding last weeks interest rate decision. If todays employment data is weak, the rate cut decision will appear prescient; conversely, if the job market shows a robust trend, it will undoubtedly strengthen the stance of officials advocating for a pause in rate cuts.December 16th - The ADP weekly employment report shows that in the four weeks ending November 29, 2025, U.S. private sector companies added an average of 16,250 jobs per week. The continued strength in the job market in the second half of November suggests that hiring activity may be rebounding after four weeks of job losses. These figures are preliminary and may change as new data becomes available.The U.S. November seasonally adjusted nonfarm payrolls and unemployment rate, average hourly earnings month-on-month and year-on-year rates, and October retail sales month-on-month rate will be released in ten minutes.ADP Weekly Employment Report: Data continued to strengthen in the second half of November, suggesting a possible rebound in hiring.

Price Analysis: AUD/USD Advances Toward 0.6740 Ahead Of PBoC's Decision

Alina Haynes

Apr 19, 2023 16:00

AUD:USD.png 

 

The AUD/USD pair strengthened to near 0.6740 after a gradual retracement. In light of the weakening U.S. dollar and the upward revision of China's growth rate forecast, the demand for Australian dollars was exceptional. The US Dollar Index (DXY) is exhibiting a dearth of volatility prior to the release of the Federal Reserve's (Fed) Beige Book.

 

The Australian Dollar remained active on Tuesday after the Reserve Bank of Australia (RBA) minutes were released. The RBA minutes revealed that policymakers actively debated a rate hike, but ultimately decided to maintain the current 3.6% rate. Philip Lowe, the governor of the Reserve Bank of Australia, stated that the central bank needs more time to compile information prior to taking action.

 

After a robust quarterly performance, forecasting agencies were enthusiastic about increasing their projections for China's Gross Domestic Product (GDP). In the future, the People's Bank of China's (PBOC) interest rate determination will be the primary event. Australia is China's greatest trading partner, and optimistic economic forecasts from China would benefit the Australian Dollar.

 

The AUD/USD exchange rate is exhibiting an Inverted Flag pattern on an hourly time frame. The Inverted Flag is a trend-following pattern that consists of a protracted consolidation followed by a decline. Participants prefer to enter an auction after a bearish bias has been established, and current vendors increase their position size during the consolidation phase of a chart pattern.

 

The 20-period Exponential Moving Average (EMA) is superimposed on the price of the asset at 0.6720, indicating lackluster performance.

 

Currently, the Relative Strength Index (RSI) (14) fluctuates between 40.00 and 60.00, indicating the absence of a possible trigger.

 

A future break above the March 22 high of 0.6759 will propel the asset toward the April 3 high of 0.6693. A breach above the latter would cause the asset to reach a new low on February 6 of 0.6855.

 

A breach of the April 10 low at 0.6620 would expose the Australian dollar to the March 10 low at 0.6564, followed by the round-number support at 0.6500, according to an alternative scenario.


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