• AUD/USD is steady awaiting a fresh catalyst.
  • Improved market sentiment, weighs on the greenback.
  • Australian employment figures to be released on Thursday, expected at -70K.
  • US Retail Sales, foreseen at -0.8%, could delay the prospects of a Federal Reserve bond tapering decision.

The AUD/USD is steady during the American session, trading at 0.7333  at the time of writing, up 0.19% on the day. In the European session, the aussie reached a daily high at 0.7339, but the move stalled ahead of the 50-day moving average at 0.7349.

As the New York session heads to an end, the Dow Jones, the S&P 500, and the Nasdaq are rising 0.77%, 0.90%, and 0.77%, respectively. The market sentiment has improved. High-beta peers like the AUD, NZD, and CAD are up against the greenback, which is the weaker currency in the session, with the DXY down 0.11%.

AUD/USD calmly awaits Australian employment data and US Retail Sales

In the Australian economic docket, employment figures will be revealed on Thursday. The Employment Change for August is expected to come at -70K, while the Unemployment Rate is foreseen to be 4.9% released at 01:30 GMT. At 01:00 GMT, the Melbourne Institute will unveil the Consumer Inflation Expectations for September.

In the US, the Retail Sales and the Initial Jobless Claims will be the main drivers for the greenback on Thursday. Retail Sales are expected to come at -0.8%, whereas the Initial Jobless Claims are forecasted to increase from 310K in the September 4 week to 328K. 

The Retail Sales report precedes the FOMC monetary policy meeting, to be held on September 21-22. A good reading could reignite the possibilities of a bond tapering announcement, by next week. If the consumer conditions have worsened, investors could expect a delay until the November meeting.

KEY TECHNICAL LEVELS TO WATCH

AUD/USD

Overview
Today last price 0.7333
Today Daily Change 0.0014
Today Daily Change % 0.19
Today daily open 0.7319
 
Trends
Daily SMA20 0.7313
Daily SMA50 0.7355
Daily SMA100 0.7521
Daily SMA200 0.7608
 
Levels
Previous Daily High 0.7374
Previous Daily Low 0.7312
Previous Weekly High 0.7469
Previous Weekly Low 0.7345
Previous Monthly High 0.7427
Previous Monthly Low 0.7106
Daily Fibonacci 38.2% 0.7336
Daily Fibonacci 61.8% 0.7351
Daily Pivot Point S1 0.7297
Daily Pivot Point S2 0.7274
Daily Pivot Point S3 0.7235
Daily Pivot Point R1 0.7358
Daily Pivot Point R2 0.7397
Daily Pivot Point R3 0.742

 

 

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