AUD/USD Forex Signal: Aussie at Risk of Further Sell-Off

1/19/2022 2:50:00 PM

The AUD/USD pair declined to the lowest level since January 11th after weak Australian consumer confidence data.

The $AUDUSD pair declined to the lowest level since January 11th after weak Australian consumer confidence data.

The AUD/USD pair declined to the lowest level since January 11th after weak Australian consumer confidence data.

AdvertisementTrade AUD/USD NowAustralia Consumer ConfidenceLike in most western countries, consumer spending is the biggest constituent of the Australian economy. Therefore, investors and policymakers constantly look at consumer confidence data. On Tuesday, data by ANZ Bank showed that consumer confidence declined 7.6% last week to about 97.9. This was the lowest it has been since 1992.

The decline in consumer confidence led to a sharp decline in consumer spending. While spending typically drops after Christmas, last week’s drop was about 10% lower than in the most recent years.This decline was attributed to a number of reasons. For one,

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It also retreated as the US dollar made a strong comeback as bond yields jumped.Get Started NOW! UK Economic Data The Office of National Statistics (ONS) published the latest jobs numbers on Tuesday.is trading at $42,200, which is substantially lower than the all-time high of over $68,000.that occurs at the given levels.

It is trading at 0.7180, which is about 2% below the highest level last week.2% in October to 4. Advertisement Trade AUD/USD Now Australia Consumer Confidence Like in most western countries, consumer spending is the biggest constituent of the Australian economy. Analysts cite the performance of Bitcoin to profit-taking among investors who had spectacular returns in 2021. Therefore, investors and policymakers constantly look at consumer confidence data. This decline was better than the median estimate of 4. On Tuesday, data by ANZ Bank showed that consumer confidence declined 7. I also thought that long trade from a bullish bounce t 0.

6% last week to about 97. Additional data revealed that the number of claimant count declined to over 43. Recently, the Federal Reserve and other central banks have signaled that they will hike interest rates this year.9. This was the lowest it has been since 1992. The country’s claimant count has been in a downward trend in the past few months. The decline in consumer confidence led to a sharp decline in consumer spending. Another concern is that many big institutional investors have stayed in the sidelines recently. While spending typically drops after Christmas, last week’s drop was about 10% lower than in the most recent years. Economists polled by Reuters expect the data to reveal that the headline CPI dropped from 0.7300, the price has fallen again and is encountering similar pivotal support and resistance levels, most notably the old resistance level at 0.

This decline was attributed to a number of reasons. For one, Australia is seeing a strong wave of Covid-19 that has forced states to announce some restrictions.3% in December. The regulatory picture will likely become clearer in the next few weeks. Unlike most countries, Australia has still closed its borders with most countries. Still, analysts at Commonwealth Bank believe that the Reserve Bank of Australia (RBA) will start to normalize later this year.1% to 5. They expect that inflation will remain high and the unemployment rate to keep falling. Meanwhile, the BTC/USD pair moved sideways during the North America conference.7223 which will suggest the price will continue to rise, or A bearish breakdown below approximately 0.

The AUD/USD decline was mostly because of the strong dollar.0%. The bond market has continued its sell-off this week. On Tuesday, the yield of the 10-year bond rose to the highest level in over two years.5% to 0. The sell-off accelerated after the coin managed to move below the key support level at 56,670, which was the lowest level on October 27th. Bond prices and yields move inversely. Rising bond yields is a sign that investors believe that the Federal Reserve will continue tightening in a bid to slow inflation. On an annualized basis, analysts expect the data to reveal that the data fell from 4..

Later today, the AUD/USD pair will react to the latest American housing starts and building permits data. Top Forex Brokers. Their impacts on the data will be muted though.9%. AUD/USD Forecast On the four-hour chart, we see that the AUD/USD pair has been in a bearish trend in the past few days. Along the way, it has formed an ascending shown in black. However, with oil and natural gas prices surging, there is a likelihood that prices will remain at elevated levels. It is currently hovering slightly above the lower side of this channel.

It has also moved below the 38. The 10-year bond yield rose a two-year high of 1.2% .