• The AUD/USD pair fell 1.27% in September against the greenback.
  • The greenback appreciated for the fourth consecutive month against the Aussie.
  • US Initial Jobless Claims makes a case for a pause in the bond tapering process. 

The AUD/USD begins the Asian session on the right foot, is trading at 0.7220, posting a minimal gain of 0.01% at the time of writing. On the last trading day of September, market sentiment was downbeat, as major US stock indices recorded losses between 0.4% and 1.59%. 

The US Dollar Index (DXY) finished the day at 94.24, slightly down 0.02%, while the US 10-year Treasury yield dropped four basis points, sitting at 1.492%.

The Australian dollar depreciated for the fourth consecutive month against the greenback

In September, the Australian dollar depreciated 1.27% against the greenback for the fourth consecutive month. However, the price action of the last two month’s is trapped between the 0.7105-0.7478 range. 

The bond taper prospects weighed across all the US dollar counterparts. However, on Thursday, during the New York session, the US Initial Jobless Claims increased for the third consecutive week. The figure came at 362K, against 335K, foreseen by analysts. The data disappointed as we look forward to the Nonfarm Payrolls report in the following week.

The Federal Reserve Chairman Jerome Powell said one good employment report could convince the board that they have reached the bar needed to reduce the QE.

On Friday, the Australian economic docket, the Commonwealth Bank of Australia, and IHS Markit Economics will release the PMI for September, expected at 57.3. Later on, it will feature the Home Loans and Investment Lending for Homes, both reports related to August figures.

Meanwhile, in the US, Personal Consumption Expenditures and Personal Income for August will be revealed on Friday at 12:30GMT. Later during the day, the Markit and ISM Manufacturing PMIs could provide clues regarding production. Further, the UoM Consumer Sentiment will be disclosed.

ADDITIONAL KEY LEVELS TO WATCH

AUD/USD

Overview
Today last price 0.7221
Today Daily Change 0.0047
Today Daily Change % 0.01
Today daily open 0.7174
 
Trends
Daily SMA20 0.7318
Daily SMA50 0.732
Daily SMA100 0.7465
Daily SMA200 0.7592
 
Levels
Previous Daily High 0.7265
Previous Daily Low 0.717
Previous Weekly High 0.7317
Previous Weekly Low 0.7219
Previous Monthly High 0.7427
Previous Monthly Low 0.7106
Daily Fibonacci 38.2% 0.7206
Daily Fibonacci 61.8% 0.7229
Daily Pivot Point S1 0.7141
Daily Pivot Point S2 0.7107
Daily Pivot Point S3 0.7045
Daily Pivot Point R1 0.7236
Daily Pivot Point R2 0.7298
Daily Pivot Point R3 0.7332

 

 

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