- AUD/USD extends the previous day’s losses from weekly top.
- RBA failed to entertain markets but Treasury yields stole the show.
- Risk-off heavies the quote ahead of final readings of key data.
AUD/USD holds lower ground around mid-0.7700s during the early Asian session on Thursday. The risk barometer recently refreshed intraday low as market sentiment stretched the previous day’s downbeat mood. Though, the bears are chained ahead of Aussie Retail Sales and trade data for January.
It's worth mentioning that the Aussie PM Morrison's comments to rollout AstraZeneca vaccine from Friday and China Security Journal's statements suggesting no strong jump in the rates during the short-term couldn't please AUD/USD buyers.
The escalating talks over the US covid stimulus and already announced UK budget rekindled reflation fears on Thursday. Also weighed on the mood could be chatters from the ECB suggesting no serious need to tame the bond bears.
Furthermore, House cancellation of a session on Thursday, following the news of a plot to shake Capitol Hill again, joined China-linked hackers’ cyberattack on Microsoft’s email server to exert a fresh burden on the risks.
Against this backdrop, the Wall Street benchmark closed in the red while the US 10-year Treasury yields rallied towards regaining the 1.50% mark. Further, the S&P 500 Futures drop 0.25% by the press time.
Moving on, Australia’s final prints of January month Retail Sales and Trade Balance, expected 0.6% MoM and 6500M, versus 0.6% and 6785M prior, should offer immediate direction to the AUD/USD prices. However, major attention should be given to the risk barometers as US fiscal relief news will be the key to watch ahead of today’s speech from Fed Chair Jerome Powell.
The reversal from 10-day SMA, at 0.7835 now, directs AUD/USD towards breaking an ascending trend line from early November, at 0.7740 now.
Additional important levels
|Today last price||0.7755|
|Today Daily Change||-73 pips|
|Today Daily Change %||-0.93%|
|Today daily open||0.7828|
|Previous Daily High||0.7838|
|Previous Daily Low||0.7736|
|Previous Weekly High||0.8008|
|Previous Weekly Low||0.7692|
|Previous Monthly High||0.8008|
|Previous Monthly Low||0.7562|
|Daily Fibonacci 38.2%||0.7799|
|Daily Fibonacci 61.8%||0.7775|
|Daily Pivot Point S1||0.7763|
|Daily Pivot Point S2||0.7698|
|Daily Pivot Point S3||0.766|
|Daily Pivot Point R1||0.7865|
|Daily Pivot Point R2||0.7903|
|Daily Pivot Point R3||0.7968|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.