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February 9th - A survey closely watched by the Bank of Englands Monetary Policy Committee shows that while employers continued to reduce hiring for long-term positions in January, the pace of reduction slowed to its lowest level in 18 months. The survey, conducted by the Recruiting and Employment Confederation (REC), also showed that businesses increased the number of temporary workers deployed for the first time since October last year. Neil Carberry, CEO of REC, said: "As we head into 2026, there are increasing signs that uncertainty about hiring plans is translating into action. This doesnt mean a full-blown hiring rebound, but the wait-and-see period seems to be coming to an end." This REC report further supports the view that the UK economy is poised for a turnaround in 2026. A recent S&P survey showed that business expansion in January hit a 17-month high; a report from the Institute of Directors also indicated that executives are more optimistic about the outlook for sales, hiring, and investment.Jun Mimura, Japans top foreign exchange official: We are closely monitoring foreign exchange trends with a high sense of urgency.The yield on Japans 30-year government bonds rose 6.5 basis points to 3.615%.February 9th - According to data from the China Index Academy, in January 2026, the national foreclosed property market saw a total of 105,000 units listed for auction, a year-on-year increase of 3.6%, with 113,000 auctions held. Ultimately, 16,000 units were sold, a year-on-year increase of 2.0%, resulting in a clearance rate of 14.9%. The total transaction amount was 21.59 billion yuan, a year-on-year decrease of 3.4%, with an average transaction price of 5,204 yuan/㎡, a year-on-year decrease of 2.7%, and an average discount rate of 71%. By property type, residential properties accounted for 54.2% of the transaction amount, making them the main force in the market. Second-round auctions accounted for 51.9% of the total sales, representing the primary source of transactions. By city tier, the average transaction price for residential properties in first-tier cities was 28,121 yuan/㎡, with Shenzhen having the highest clearance rate at 63.7%. A clear price gradient was observed between second- and third-tier cities.Japans December trade balance will be released in ten minutes.

AUD/USD However, 0.6700 is the key to the upside

Daniel Rogers

Apr 11, 2023 14:41

AUD:USD.png 

 

In the early hours of Tuesday morning in Asia, the AUD/USD receives bids near 0.6650 to recover recent losses. In doing so, the Aussie pair recovers from the lowest levels in two weeks while reversing course from the horizontal support that has been in place for 12 days around 0.6620.

 

Nonetheless, imminent bearish MACD signals and a stable RSI indicate that the AUD/USD pair will continue to decline.

 

The convergence of the 10-day moving average and the support-turned-resistance line from March 10, close to the round number 0.6700, may also threaten the most recent price recovery.

 

Even if the AUD/USD bulls are able to surpass 0.6700, the 50% Fibonacci retracement level of the pair's February-March decline, located around 0.6805, will serve as the final line of defense for the bears.

 

Alternately, a break below 0.6620 could initiate a new decline aiming for the Year-to-Date (YTD) low established in February around 0.6565.

 

Notably, the AUD/USD pair's decline beyond 0.6565 confronts multiple obstacles to the south, including the highs for October 2022 near 0.6545 and 0.6520.

 

After that, a decline to the November 2022 low of approximately 0.6275 cannot be ruled out.

 

Regardless of the recent corrective rally, the AUD/USD remains on the radar of skeptics.