EUR/USD 1.16087
0.173%
Gold 4344.77
0.829%
Oil 77.199
-3.308%
USD/JPY 160.314
-0.019%
GBP/USD 1.34232
0.081%
GBP/JPY 215.198
0.070%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 16th - A Bank of America global fund manager survey for June revealed that most investors expect a split in the upcoming US midterm elections, with Democrats controlling the House of Representatives and Republicans controlling the Senate. The survey showed that 42% of respondents anticipate this scenario. Currently, Republicans hold a majority in both the House and Senate. The survey found that expectations of a "blue wave"—where Democrats control both the House and Senate—have fallen from 36% two months ago to 22%.June 16 - On June 16, Hu Zhenjiang, Deputy Director of the Civil Aviation Administration of China, met with Mike Fleming, Senior Vice President and General Manager of Aircraft Programs and Customer Support at Boeing Commercial Airplanes, in Beijing. The two exchanged views on issues of common concern, including Boeings business development in China and strengthening cooperation between Boeing and the Chinese civil aviation industry.June 16 – According to the China Earthquake Networks Center, a 6.3-magnitude earthquake struck Haixi Prefecture, Qinghai Province (37.80°N, 95.56°E) at 17:06 on June 16, 2026, with a focal depth of 10 kilometers. The average elevation within 10 kilometers of the epicenter is approximately 4,302 meters. Following the earthquake, the China Earthquake Administration (CEA) quickly activated a Level III emergency response. Wang Kun, Secretary of the Party Committee and Director of the CEA, immediately deployed emergency response efforts, holding video conferences with the CEA and the Qinghai Provincial Earthquake Administration, instructing relevant units to strengthen seismic monitoring and analysis, conduct joint consultations, and promptly report relevant information. Currently, the Qinghai Provincial Earthquake Administration has dispatched a field team to the affected area to assist the local government in emergency response efforts.The European-Mediterranean Seismological Centre reports a magnitude 6 earthquake off the east coast of Honshu, Japan.NHK: Japan did not issue a tsunami warning after the earthquake.

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