Thursday, 26.11.2020, 23:59
Free no deposit Bonus Forex
Welcome Guest | RSS
Site menu
Our poll
Rate my site
Total of answers: 40

Total online: 1
Guests: 1
Users: 0

How to make money on the foreign exchange market? Trading ideas for traders 10/06/2020: The weakness of the AUD / USD pair is temporary!


The AUD / USD pair is declining during the trading session on Tuesday. The Australian dollar is quoted at 0.7160 against its US counterpart by 12:00 Moscow time versus 0.7177 at the opening of the day.







The pair's sell-off intensified amid the results of the meeting of the Reserve Bank of Australia. The regulator kept the interest rate at 0.25%, but hinted at the possibility of further easing of monetary policy. RBA head Philip Lowe noted that officials consider solving the problem of high unemployment as an important national priority and continue to search for measures to support employment. Experts are confident that a new rate cut will take place at the November meeting of the RBA. In addition, the regulator can take on additional obligations to repurchase bonds with a maturity of 5-10 years


Additional pressure on the Australian currency was exerted by weak August data on foreign trade. The second wave of the coronavirus pandemic triggered a 4% drop in Australian exports and a 2% increase in imports. The consequence was the reduction of Australia's trade surplus from 4.607 to 3.643 billion Australian dollars.

The decline in the AUD / USD pair is also facilitated by the recovery of the dollar amid news about Donald Trump's possible discharge from the hospital in the near future, as well as strong macroeconomic data from the United States. Thus, the index of business activity in the US service sector from ISM in September rose from 56.9 to 57.8 points against the forecast of a decline to 56.3 points. A similar indicator from Markit did not change at the end of September and remained at 54.6.

Further, the focus of traders is on the speech of the US Federal Reserve Chairman Jerome Powell, which will take place today at 17:40 Moscow time. Powell is highly likely to confirm continued downside risks to the economy due to the worsening COVID-19 situation, which will give the US Congress an additional reason to accelerate the process of agreeing on new stimulus measures. In this scenario, dollar sales risk resuming, which will support the AUD rate.



AUD / USD BuyLimit 0.7130 TP 0.73 SL 0.7080


Analytical reviews and comments to them reflect the subjective opinion of the authors and are not a recommendation for trading. Author Artem Deev is a trader analyst at AMarkets. The social network of traders is not responsible for possible losses in case of using the review materials


Views: 39 | Added by: mik | Rating: 0.0/0
Total comments: 0
Only registered users can add comments.
[ Sign Up | Log In ]
Log In
«  October 2020  »
Entries archive
Site friends
Copyright © 2020-2012Website builderuCoz