AUDUSD: Week Ahead
Hello Investors and traders !!
Investors and traders will most likely be split into two groups in the coming trading week.The US dollar slipped on Friday and was heading for its first weekly drop this month as investors and traders analyzed where interest rates May peak. The rate hike repricing sent 10 year Treasury yields to two week lows while the DXY has lost 0.4% this week. The dollars slide boosted even commodity focused currency, the AUDUSD. The AUDUSD ticked up 0.12% to $0.6903 though it remained on track for a third straight weekly decline.
Investors could remain focused on continued Fed tightening chasing after the worst inflation in over 40 years after a near-decade and a half of the loosest policy on record. And as if that weren't enough, additional headwinds haven't faded: the world is still contending with the worst global health crisis in more than a century and the Russian war of aggression in Ukraine which is also cutting into global food supplies.
Wall Street will continue to focus on the strength of the US consumer and pay close attention to personal income/spending data, another set of inflation readings, and a few key corporate earnings from the major retailers.
A wrath of economic indicators are expected to confirm the trend of weakening business activity. US consumer confidence is expected to post a sharp decline, as personal incomes struggle to keep up with inflation.
Australian retail sales on Wednesday has downside risks which could prompt slowdown fears. That could cause short-term weakness in the Australian dollar. Otherwise, local equities continue to track US markets although if resource price weakness persists next week, that could start to weigh on local equities.
The Australian dollar has downside risk as it finishes at weekly lows. Its movements continue to reflect its role as a proxy for global investor sentiment by traders.
This is an article not Financial advice
If you have any questions please leave a comment and I will answer them
And please support this idea with your likes and comment. Thank you
Investors and traders will most likely be split into two groups in the coming trading week.The US dollar slipped on Friday and was heading for its first weekly drop this month as investors and traders analyzed where interest rates May peak. The rate hike repricing sent 10 year Treasury yields to two week lows while the DXY has lost 0.4% this week. The dollars slide boosted even commodity focused currency, the AUDUSD. The AUDUSD ticked up 0.12% to $0.6903 though it remained on track for a third straight weekly decline.
Investors could remain focused on continued Fed tightening chasing after the worst inflation in over 40 years after a near-decade and a half of the loosest policy on record. And as if that weren't enough, additional headwinds haven't faded: the world is still contending with the worst global health crisis in more than a century and the Russian war of aggression in Ukraine which is also cutting into global food supplies.
Wall Street will continue to focus on the strength of the US consumer and pay close attention to personal income/spending data, another set of inflation readings, and a few key corporate earnings from the major retailers.
A wrath of economic indicators are expected to confirm the trend of weakening business activity. US consumer confidence is expected to post a sharp decline, as personal incomes struggle to keep up with inflation.
Australian retail sales on Wednesday has downside risks which could prompt slowdown fears. That could cause short-term weakness in the Australian dollar. Otherwise, local equities continue to track US markets although if resource price weakness persists next week, that could start to weigh on local equities.
The Australian dollar has downside risk as it finishes at weekly lows. Its movements continue to reflect its role as a proxy for global investor sentiment by traders.
This is an article not Financial advice
If you have any questions please leave a comment and I will answer them
And please support this idea with your likes and comment. Thank you
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