AUD/USD scade înaintea raportului privind ocuparea forței de muncă

The Australian dollar, which has posted strong gains early in the week, has run into a wall on Wednesday. In the European session, AUD/USD is trading at 0.6638, down 0.66%.

Australian job growth expected to rebound

Australia releases the February employment report on Thursday (Australia time). Job growth is expected to rebound, with a consensus of 48,500 after a soft January read of -11,500. The unemployment rate is expected to tick lower to 3.6%, down from 3.7%. The Reserve Bank of Australia will be watching closely, as a robust labour market has enabled the central bank to continue its tightening – the Bank raised rates last week by 25 basis points, a 10th straight hike which brought the cash rate to 3.60%. The good news is that the end of the tightening cycle could be near, with the markets pricing in a pause at the April meeting. Consumers and businesses are weary of rising interest rates and confidence indicators do not paint an optimistic picture.

Along with the job data, Australia releases consumer inflation expectations for March. The markets are braced for the indicator to rise to 5.4%, after a 5.1% gain in February. Inflation expectations is a key inflation gauge as it can set the direction of actual inflation, and the RBA will not be happy if inflation expectations accelerate.

There is an uneasy calm in the air as the dust begins to settle after the Silicon Valley Bank collapse. The sky is not falling, not even above US bank towers, as regional bank stocks have rebounded. The US inflation release on Tuesday delivered as expected, with both the headline and core CPI readings matching the estimates. Headline CPI fell to 6.0%, down from 6.4%, while the core rate ticked lower to 5.5%, down from 5.6%. Inflation is cooling but we’re not seeing the disinflation process that the markets were celebrating only a few weeks ago.

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AUD / USD Tehnic

• AUD / USD testează asistența la 0.6639. Mai jos, există asistență la 0.6508
• 0.6713 și 0.6844 sunt următoarele linii de rezistență

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Analist al pieței financiare cu o mare experiență, cu accent pe analiza fundamentală, comentariul zilnic al lui Kenneth Fisher acoperă o gamă largă de piețe, inclusiv valutare, acțiuni și mărfuri. Lucrările sale au fost publicate în mai multe publicații financiare majore online, inclusiv Investing.com, Seeking Alpha și FXStreet. Cu sediul în Israel, Kenny a contribuit cu MarketPulse din 2012.

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• Sursa: https://www.marketpulse.com/20230315/aud-usd-falls-ahead-of-employment-report/kfisher