Trusted by over 15 Million Traders
The Most Awarded Broker
for a Reason
CATEGORIES
News
- 【XM Market Analysis】--ETH/USD Forecast: Can ETH Break $4,000?
- 【XM Forex】--EUR/USD Analysis: Facing the 1.05 Support Again
- 【XM Market Review】--Gold Analysis: Stable Bullish Prices
- 【XM Market Review】--GBP/USD Analysis: Performance portends a strong move ahead
- 【XM Market Analysis】--USD/CHF Forecast: Eyes 0.90 Amid Strength
market analysis
Bullock's cautious remarks are strongly supported! Will the Australian dollar counterattack and break the situation?
Wonderful introduction:
Life requires a smile. When you meet friends and relatives, smiling back can cheer up people's hearts and enhance friendship; accepting help from strangers and smiling back will make both parties feel better; give yourself a smile and life will be better!
Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market xn--xm-5s9cx14e.commentary]: Bullock's cautious remarks are strongly supported! Will the Australian dollar counterattack and break the situation?". Hope this helps you! The original content is as follows:
The Australian dollar strengthened against the US dollar on Friday (October 10), partially recovering the losses of the previous trading day, and is now trading around 0.6565, an increase of about 0.18%. AUD/USD gains were largely driven by a cautious monetary policy statement from Reserve Bank of Australia Chairman Michelle Bullock.
Chairman Bullock pointed out on Friday that service sector inflation remains sticky. She said second-quarter inflation data slightly exceeded expectations, but overall was moving in the right direction. She stressed the need to maintain policy prudence given the volatility in monthly CPI data, adding that although the labor market is still tight, it may be heading towards equilibrium.
The market generally expects that the Reserve Bank of Australia will continue to remain on hold after keeping the official cash rate unchanged at 3.6% in September.
Although the US dollar is stable, the Australian dollar still bucks the trend and strengthens
The US dollar index is stable after rising for four consecutive trading days, trading around 99.30. The U.S. Senate failed to agree on legislation to end the government shutdown on Friday.
The minutes of the September Federal Open Market xn--xm-5s9cx14e.committee meeting showed that policymakers are inclined to further cut interest rates this year. Most policymakers supported September's decision to cut interest rates and signaled further easing later this year. However, some members advocated a more cautious path, citing inflation concerns.
According to the market expectations of the CME Fed Watch Tool, the probability of the Federal Reserve cutting interest rates in October has reached 95%, and the probability of another interest rate cut in December is 82%.
Federal Reserve Governor Stephen Millan put forward a unique view on Tuesday, arguing that inflation is essentially an inevitable result of "population growth." He added that monetary policy needs to stay ahead of the downward trend in neutral interest rates.Adjustment.
Minneapolis Fed President Kashkari expressed relative reservations, warning that it was too early to judge whether tariff-induced inflation would remain "sticky." But he made a point of being optimistic about the labor market, anticipating recent sluggish job creation to regain momentum.
Kansas City Fed President Schmid made hawkish remarks on Monday, emphasizing that the Fed must maintain its credibility in fighting inflation, pointing out that the current inflation level is still too high. He believes that the current monetary policy control is appropriate.
China’s Ministry of xn--xm-5s9cx14e.commerce announced on Thursday that it will strengthen rare earth export controls starting from December 1. Overseas xn--xm-5s9cx14e.companies and individuals must apply for a dual-use item export license to export rare earths.
Australia’s private housing approvals fell 2.6% month-on-month to 9,027 units in August, in line with expectations and reversing the 1.3% increase in the previous month. At the same time, seasonally adjusted building permits fell 6% month-on-month to 14,744 units, falling for the second consecutive month after falling 10% in the previous month.
Data from the University of Melbourne on Tuesday showed that the Australian Westpac Consumer Confidence Index fell 3.5% month-on-month to 92.1 in October, further expanding the decline from the previous value of 3.1%, setting a record for the fastest decline since April this year. ANZ recruitment advertising volume fell by 3.3% month-on-month in September, worsening significantly from the previous decline of 0.3%.
The TD Securities-Melbourne Institute inflation indicator rose 0.4% month-on-month in September, reversing the 0.3% decline in the previous month. The annual inflation measure rose from 2.8% to 3% during the same period.
Technical Analysis
Daily chart technical analysis shows that AUD/USD is rebounding towards an ascending channel, suggesting that bullish momentum is recovering. However, the 14-day relative strength index (RSI) is still below the 50 neutral line, indicating that bearish pressure still exists.
On the downside, AUD/USD is testing immediate support at the 50-day exponential moving average (0.6562). A break below this level would weaken medium-term price momentum and could lead to a test of the four-month low near 0.6414 recorded on August 21, and then a test of the five-month low of 0.6372.
On the upside, if it can return to the upward channel, it will reactivate the bullish tone and push the Australian dollar against the US dollar to test the first resistance level - the 9-day exponential moving average (0.6581). If it effectively breaks through this moving average, the short-term price momentum will be improved, and the exchange rate is expected to test the 12-month high of 0.6707 set on September 17 last year, and then challenge the resistance near the channel's upper track of 0.6810.
The above content is all about "[XM Foreign Exchange Market xn--xm-5s9cx14e.commentary]: Bullock's cautious remarks are strongly supported! Will the Australian dollar counterattack and break the situation?" It was carefully xn--xm-5s9cx14e.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
Sharing is as simple as a gust of wind can bring refreshing, as pure as a flower can bring fragrance. Gradually my dusty heart opened up, and I understood that sharing is actually as simple as the technology.
Disclaimers: XM Group only provides execution services and access permissions for online trading platforms, and allows individuals to view and/or use the website or the content provided on the website, but has no intention of making any changes or extensions, nor will it change or extend its services and access permissions. All access and usage permissions will be subject to the following terms and conditions: (i) Terms and conditions; (ii) Risk warning; And (iii) a complete disclaimer. Please note that all information provided on the website is for general informational purposes only. In addition, the content of all XM online trading platforms does not constitute, and cannot be used for any unauthorized financial market trading invitations and/or invitations. Financial market transactions pose significant risks to your investment capital.
All materials published on online trading platforms are only intended for educational/informational purposes and do not include or should be considered for financial, investment tax, or trading related consulting and advice, or transaction price records, or any financial product or non invitation related trading offers or invitations.
All content provided by XM and third-party suppliers on this website, including opinions, news, research, analysis, prices, other information, and third-party website links, remains unchanged and is provided as general market commentary rather than investment advice. All materials published on online trading platforms are only for educational/informational purposes and do not include or should be considered as applicable to financial, investment tax, or trading related advice and recommendations, or transaction price records, or any financial product or non invitation related financial offers or invitations. Please ensure that you have read and fully understood the information on XM's non independent investment research tips and risk warnings. For more details, please click here