Daily Market Update

AUDUSD Day’s Range: 0.73193 – 0.73450   AUDUSD dropped as the data from China was worse than the expectations. Yesterday’s Chinese fixed asset investment was 1%below expected, July retail sales were 2.4% below and the unemployment rate was 0.1% higher. Investors are concerning that the spread of the COVID-19 Delta variant will seriously impact the […]

AUDUSD Day’s Range: 0.73701 – 0.74160   Yesterday’s data showed a strong Australian trade surplus for June with the seasonally adjusted balance on goods and services surplus increased $1,277 million to $10,496 million. This is primarily driven by the strong export figures to China as Iron Ore prices bolstered the numbers.   Investors are anticipating

AUDUSD Day’s range: 0.73369 – 0.73821   AUDUSD recovered slowly throughout the session despite the concern around the growth in China and the spread of Delta Covid-19. AUD slipped slightly after the July Caixin Manufacturing PMI comes lower than expected (50.3 v. 51.1 exp.) as investors are worried about the global growth. AUDUSD slowly appreciated

AUDUSD Day’s Range: 0.73772 – 0.74101   The Dollar Index slipped as investors now expect the Federal Reserve would maintain its stimulus and continue to support the economy. Furthermore, investors move to riskier assets as China will still allow Chinses companies to list in the U.S.  The AUDUSD rallied into the close of the day

AUDUSD Day’s Range: 0.73233 – 0.73816   TheFederal Reserve indicated to investors that they are moving closer to assettapering, though Fed Chairman Powell indicates that there is still some way togo until the full labor market recovery. Powellsaid to a press conference on Wednesday that “We are not there, and we seeourselves as having some