AUDUSD InsightHello, subscribers.
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Key Points
- U.S. President Trump, in an interview with Fox News, stated: “I hope President Putin does well. If not, things will get tough.” He added, “President Zelensky must also do what he has to do. He too must show flexibility.”
- S&P affirmed the U.S. credit rating at AA+, saying Trump’s tariff policy would help fiscal conditions and that the fiscal deficit is not expected to worsen.
- Canada’s July CPI rose 1.7% year-on-year, falling short of both market expectations and the previous month’s figure, fueling expectations of a rate cut.
Major Economic Events This Week
+ August 20: U.K. July CPI, Eurozone July CPI, FOMC Minutes
+ August 21: U.S. August Services PMI, U.S. August Manufacturing PMI
+ August 22: Jackson Hole Symposium, Fed Chair Powell’s Speech
AUDUSD Chart Analysis
Although there has been a recent decline, the price is still forming near the trendline. There remains room for an upward move, in which case the next high is expected around the 0.69000 level. On the other hand, if the trend reverses downward, the pair could extend losses toward the 0.62000 level.
