- Analysis AUD / USD Analysis shows a jump in the Australian economy.
- The economy in Australia increased by 0.6% in K2 compared to a forecast of 0.5%.
- Economists believe that work growth will remain weak at 75,000.
The AUD / USD price analysis shows the jump in the Australian economy that facilitated expectations to reduce RBA speed. Meanwhile, the focus remains on a report on respecting American payroll reports, which will shape the prospects for reducing the rates of the feedback rates.
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Data on Wedneset found that in K2 compared to 0.6% in K2 increased by 0.6% compared to a forecast of 0.5%. The data has pushed market participants to reduce the chances of November RBA cuts 100% to 92%.
“Today’s data is an encouraging certificate that has been increased by global uncertainty did not take great economy in K2,” said Sean Langcake, Head of Macroeconomic Forecasts for Oxford Economics Australia.
“However, K2 can prove a high watermark for growth in 2025. years. June quarter benefited from the Soft K1, business and consumer confidence and still a little embarrassment, and the labor market seems to be cold.”
Meanwhile, traders on Friday remain cautious in front of the NFP report on Friday. Economists believe that work growth will stay weak at 75,000. Meanwhile, unemployment rate could jump from 4.2% to 4.3%. The higher the expected deceleration will likely revive bets for cutting the mass rates in September.
AUD / USD Key events Today
Audi Audi Aud / USD Analysis: Bears try a turnaround
On the technical page, the price of AUD / USD reiterated 30 SMA after a recent bear. With the price now below SMA and RSI slightly below 50 years, bias has turned the bear. The shift of the feeling comes after the price filled the level of resilience at 0.6550.
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However, since the bulls were taken over near the level of support from 0.6425, the price made higher and lower. Therefore, bears would have to violate this form to confirm the turnaround. This means rolling under the previous low and respecting 30-SMA as resistance. Such a move would allow the AUD / USD to reset the support level of 0.6425.
If the bears do not succeed, the price could be beaten above SMA to reset 0.6550 resilience. The upper break would strengthen the bias of the bull and enable the price to re-examine resistance to 0.6620.
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