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AUD/USD: The 200-day SMA holds the downside
AUD/USD regained some balance, faded three daily pullbacks in a row, and regained the 0.6500 mark and beyond on Wednesday. The Aussie’s recovery came on the back of a sharp reversal in the US Dollar, exacerbated in response to another bout of Trump-Powell effervescence.
EUR/USD: Still room for extra retracements
The sudden bout of selling pressure on the Greenback lent some breathing room to the generalised risk complex, prompting EUR/USD to reverse part of its multi-day leg lower and revisit the vicinity of the 1.1800 neighbourhood. Meanwhile, investors will now look at the upcoming US Retail Sales data and the usual weekly gauge of the labour market.
Gold back to its comfort zone around $3,350
Gold now manages to leave behind the initial weakness and rapidly advances to the area of three-week peaks around the $3,380 mark per troy ounce as the US Dollar’s retracement gathers extra pace following another round of Trump-Powell effervescence.
Australia unemployment rate expected to hold steady in June
Australia is set to release the June employment report at 1:30 GMT. The Australian Bureau of Statistics is expected to announce that the country added 20,000 new job positions in the month, reversing the 2,500 lost positions announced in May.
China’s first-half growth remains on track, though activity data signals caution
China's second-quarter GDP beat forecasts again with a 5.2% year-on-year growth, driven by strong trade and industrial production. Yet sharper-than-expected slowdowns in fixed-asset investment and retail sales and falling property prices are a concern.
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