NFP, China-US trade and other factors
Tag - aud - australian dollar
NFP will be released at 15.30 MT time. What is the forecast?
The main focus is on the UK as the Bank of England made an announcement this morning. Let’s see what’s happening with the British pound and what else moves the market today.
The market is submerged into an overall risk-off mood, with the AUD getting strong on recovering China and the GBP boosted by the BOE announcements, while the USD and the EUR are weak.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
AUD/NZD formed a “shooting star” candlestick on the W1. The pair ran into the resistance line from the 2018 highs and failed to close above the 200-week MA at 1.0650.
RBA will announce its interest rate on Tuesday at 07:30 MT time.
The Fed and the ECB planning to expand the economic stimulus package make the USD and the EUR lose value.
Watch the video to find out how to trade the USD!
Since the middle of March, the AUD has been getting stronger. Will that go far?
Here’s what’s moving the market on April 27.
The market starts the week with risky appetites: the AUD and the NZD rise, in line with the GBP/USD and the EUR/USD.