EUR/USD 1.15138
-0.211%
Gold 4676.00
-1.726%
Oil 103.832
10.230%
USD/JPY 159.633
0.024%
GBP/USD 1.31935
-0.245%
GBP/JPY 210.577
-0.197%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Shipping data shows that the oil tanker "Ocean Thunder," carrying Iraqi crude oil, was passing through the Strait of Hormuz in early March.Kuwait Oil Company issued a statement confirming that its production facilities were attacked by Iranian drones, causing fires in some areas. No casualties were reported.April 5th - On the second day of the Qingming Festival holiday, according to mobile signaling big data modeling statistics, Hunan Province received 13.0183 million tourists, of which 1.8657 million were from outside the province, accounting for 14.33%; and 11.1526 million were from within the province, accounting for 85.67%, a year-on-year increase of 3.10%. According to UnionPay Business big data modeling statistics, the days transaction volume reached 24.9521 million transactions, with a transaction value of 3.8 billion yuan, a year-on-year increase of 3.05%.On April 5th, National Public Radio (NPR) reported, citing a U.S. Navy spokesperson, that since the start of the conflict between the U.S., Israel, and Iran, 1,500 U.S. soldiers and their families at a U.S. base in Bahrain have been "relocated back to the United States." The report also mentioned that other U.S. military bases in the Middle East have also evacuated personnel, but specific figures are currently unclear.On April 5, Iranian Parliament Speaker Mohammad al-Kassym-Jomart Ghalibaf posted a photo of plane wreckage on social media, commenting that if the United States were to achieve such a "victory" again, it would be "utterly destroyed." Ghalibaf wrote, "If the United States achieves three more such victories, it will be utterly destroyed." Iranian media outlets, including the Iranian Students News Agency, had previously published the same photo, claiming it showed the wreckage of a US military aircraft involved in a rescue operation. Some Iranian media outlets suggested that Ghalibafs post was intended to mock US President Trumps claim of an "imagined victory."

AUD/USD falls approaching 0.7200 despite the former RBA governor's aggressive forecasts

Alina Haynes

Jun 08, 2022 11:59

 截屏2022-06-08 下午12.00.41.png

 

Bears and buyers continue to fight for position around 0.7220-25 as sentiment is mixed and investors remain cautious ahead of the week's big data/events. In doing so, the Australian duo struggles to defend the hawkish remarks of former Reserve Bank of Australia (RBA) Governor Ian Macfarlane.

 

Ex-RBA Governor Macfarlane warned early Wednesday morning about chronically rising inflation and the need to drastically increase interest rates. The former policymaker also stated, "There is sufficient scarcity in Australia and the United States to maintain a high inflation rate."

 

In contrast, China's Vice Commerce Minister Wang Shouwen joined China's Vice Finance Minister Zou Jiayi in reiterating concerns about a global economic downturn and a decline in demand. Recent consensus among policymakers held that the rise of global demand is slowing.

 

It's worth noting that a rebound in US Treasury rates and apprehension ahead of Thursday's European Central Bank (ECB) meeting, as well as Friday's US Consumer Price Index (CPI) for May, tend to stifle the AUD/USD pair's movements.

 

In spite of this, 10-year US Treasury note rates jump two basis points (bps) to 2.99 percent the day after breaking a six-day downward trend. A record decline in the US trade deficit and optimism on the US budget appear to have prompted a recall of US Treasury bond sellers. The US trade deficit for April decreased 19.1 percent from the previous day to USD87.1 billion.

 

Other market optimists were defended by US Treasury Secretary Janet Yellen and optimism for a quicker economic rebound in China. Tuesday, US Treasury Secretary Yellen spoke before the Senate Finance Committee about the Fiscal Year 2023 Budget while stating that the US economy faced problems from "unsustainable levels of inflation" and supply chain disruptions. The official said, "An adequate budget is necessary to support the Fed's efforts to control inflation without damaging the labor market."

 

It should be noted that World Bank (WB) President David Malpass's warning that faster-than-anticipated tightening might force certain nations into a debt crisis akin to that of the 1980s appears to have impacted on the quotation as of late. The risk-negative news from Ukraine may follow a similar trajectory. Politico reported that Ukraine has not yet achieved a deal with Russia or Turkey to enable the safe passage of its grain ships in the Black Sea, casting doubt on a U.N. initiative to build a crucial food corridor.

Technical Evaluation

A two-week-old support line protects AUD/USD buyers at 0.7205. However, the 200-day moving average and the recent top, located around 0.7255 and 0.7285, may challenge the Aussie pair's upside before the bulls regain control.


Suggestion