USD DOWN but investors remains fragile over recession fears
Hello Friends! I bring you today’s analysis for the AUDUSD pair
The Aussie pair rose 0.73% to 0.7004 just above the psychological impo taya to 70 cent level. Overnight , the currency has retreated 1.1% from a high of 0.70168.
The AUDUSD pair shook off a smaller than forecast increase in the employment change which was 4000 in April 2022 with full employment change was at 92400 an unemployment was 3.9%
The USD was down on Thursday morning in Asia with concerns growing that tighter monetary policies from the US FED RESERVE and other global central banks could impact economic growth. Poor U.S housing data on Wednesday added to the economic slowdown concerns as building permits reporting 1.819 million but contracting 3.2% month on month in April 2022. Housing starts we’re at 1.724 million but contracted 0.2% month on month.
Fed Chair Jerome Powell also adopted his most hawkish tone as he said “ the US central bank would hike rates as high as needed to stem a surge in inflation that threatened the foundation of the economy.”
Shanghai will allow more businesses in some areas to resume normal operations from the start of June
AUDUUSD sellers attack key support 0.70 as traders struggle to cut the biggest loss in this week.
0.6960 restricts the immediate downside of AUDUUSD prices. A break of 0.6969 directs bears towards 0.6900 threshold ahead of the monthly Low near 0.6830.
This is an article not Financial Advice always do your own research
If you have questions you can write it in the comments below and I will answer them
And please don’t forget to support this idea with your likes and comments
The Aussie pair rose 0.73% to 0.7004 just above the psychological impo taya to 70 cent level. Overnight , the currency has retreated 1.1% from a high of 0.70168.
The AUDUSD pair shook off a smaller than forecast increase in the employment change which was 4000 in April 2022 with full employment change was at 92400 an unemployment was 3.9%
The USD was down on Thursday morning in Asia with concerns growing that tighter monetary policies from the US FED RESERVE and other global central banks could impact economic growth. Poor U.S housing data on Wednesday added to the economic slowdown concerns as building permits reporting 1.819 million but contracting 3.2% month on month in April 2022. Housing starts we’re at 1.724 million but contracted 0.2% month on month.
Fed Chair Jerome Powell also adopted his most hawkish tone as he said “ the US central bank would hike rates as high as needed to stem a surge in inflation that threatened the foundation of the economy.”
Shanghai will allow more businesses in some areas to resume normal operations from the start of June
AUDUUSD sellers attack key support 0.70 as traders struggle to cut the biggest loss in this week.
0.6960 restricts the immediate downside of AUDUUSD prices. A break of 0.6969 directs bears towards 0.6900 threshold ahead of the monthly Low near 0.6830.
This is an article not Financial Advice always do your own research
If you have questions you can write it in the comments below and I will answer them
And please don’t forget to support this idea with your likes and comments
