Are you keeping an eye on the US labor market and the Federal Reserve’s rate path? Our experts at Extreme Investor Network are closely monitoring the latest developments to provide you with valuable insights and analysis.
Shane Oliver, a prominent figure in the financial industry, recently shared his thoughts on the US Jobs Report. According to Oliver, the overall picture is soft but maybe not weak enough to prompt a Federal Reserve rate cut. However, both Waller and Williams from the Fed support a potential cut, creating uncertainty in the market.
In the short term, the AUD/USD trends are expected to be influenced by the US CPI Report. Any weaker-than-expected figures could potentially overshadow softer Australian consumer inflation expectations, leading to a move towards $0.67. It is crucial for investors to pay attention to monetary policy-related comments from both the Reserve Bank of Australia (RBA) and the Fed to determine the future direction of the currency pair.
To stay ahead of the curve, it is essential to monitor key economic data, central bank communications, real-time news updates, and expert commentary. By staying informed with our latest views and analysis, you can effectively manage your exposure to the forex markets and make informed trading decisions.
Analyzing the AUD/USD price action, the currency pair remains below the 50-day EMA but above the 200-day EMA, signaling bearish near-term and bullish longer-term price signals. A breakout from the 50-day EMA could indicate a move towards the $0.67003 resistance level, with a potential break above leading to the $0.67500 level coming into play.
On the flip side, a drop below the top trend line and 200-day EMA may result in a decline towards $0.66. It is crucial to consider inflation numbers from Australia, the US CPI Report, and central bank commentary when making trading decisions. Keep an eye on the 14-period Daily RSI reading, as the Aussie dollar could potentially dip below the 200-day EMA before entering oversold territory.
At Extreme Investor Network, we provide you with unique insights and analysis to help you navigate the complex world of the stock market and trading. Stay tuned for more updates and expert commentary to enhance your trading strategies and make informed investment decisions.