AUD/USD analysis: eyeing Chinese data for clues

Valeria Bednarik FXStreet

AUD/USD Current price: 0.8053

The AUD/USD pair advanced up to 0.8124 early Friday, its highest since May 2015, but retreated on Friday, ending the week at 0.8053. The pair's decline came in the US afternoon, as base metals fell, with gold shedding some $10.00 ahead of the weekly close. There was no certain catalyst behind the decline, attributed to profit taking ahead of the weekend. Further weighing on Aussie's strength were cooper prices, finishing the weak at two-week lows. Over the weekend, China released its August inflation figures, with the producer price index up by 6.3%, well above previous and expected, fueled by strong gains in raw material prices, while consumer prices rose by 0.4% in the month, well above previous 0.1%. The positive news may lift the AUD at the weekly opening. Daily basis, the price remains well above its 20 SMA that anyway presents a modest upward slope, while technical indicators are biased higher near overbought levels, supporting additional gains ahead. In the 4 hours chart, however, technical indicators head lower within positive territory and coming from extreme overbought levels, supporting additional slides ahead, with an immediate support around 0.8030, where the pair has its 20 SMA and some intraday highs and lows from this past few days.

Support levels: 0.803 0.8000 0.7965

Resistance levels: 0.8065 0.8100 0.8140

View Live Chart for the AUD/USD

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

AUD/USD extends the range play above 0.7200 as traders await US inflation data

AUD/USD is seen extending its consolidative price move above 0.7200 during the Asian session on Thursday amid mixed cues. Rising RBA rate-hike bets keep the Aussie close to its highest level since May 14. However, hawkish Fed expectations and escalating US-Iran tensions offer some support to the US Dollar, capping the currency pair as traders await US inflation figures.

USD/JPY consolidates around 153.50 as bears turn cautious ahead of US inflation

USD/JPY stabilizes above 153.50 during the Asian session on Thursday, but remains near a seven-month low set earlier this week as hawkish BoJ repricing continues to underpin the Japanese Yen. Meanwhile, rising September Fed rate-hike bets and escalating US-Iran tensions help ease US Dollar selling pressure, offering some support to the currency pair ahead of US inflation figures.

Gold eases within range, hovers around $4,360

Gold turned south early in the American session on Thursday, but holds within familiar levels as investors await more clues on US monetary policy. The August US Producer Price Index report and the US Consumer Price Index due on Friday will likely shape the market's tone ahead of the Federal Reserve monetary policy announcement next week.

Raydium's rally signals trend reversal amid network growth, buyback

Raydium maintains a firm bullish tone, posting nearly 9% gains, and extending its 41% rally from Sunday. Solana-based Decentralized Exchange is witnessing a surge in network activity and growth amid new token launches. The technical outlook for Raydium signals a potential upside toward $1.50 as momentum holds firm despite overbought conditions.

Jobs opened the door for the Fed — inflation decides whether it walks through

The latest US jobs report did not end the debate over the Federal Reserve’s (Fed) next move. It may have done something more subtle: it gave policymakers permission to keep their options open. After months of softer labour market signals, August delivered a stronger-than-expected rebound.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.