AUD/USD remains on the defensive above the 0.6400 mark following Australian PMI data


  • AUD/USD remains flat around 0.6415 after the Australian data.
  • The US Initial Jobless Claims dropped to 201K; the Philly Fed declined to -13.5 in September vs. 12 prior.
  • Australian Manufacturing PMI dropped to 48.2 from 49.6; Services PMI posted 50.5 in September vs. 47.8 prior.
  • Market players await the US S&P Global/CIPS PMI data due later on Friday.

The AUD/USD pair remains on the defensive during the early Asian session on Friday. The pair faces some follow-through selling after the Federal Reserve (Fed) decided to hold the interest rate on Wednesday but expected at least one more rate hike for the year. The pair The pair currently trades near 0.6415, losing 0.02% on the day.

Data from the US economic data showed mixed results on Thursday, with the weekly Initial Jobless Claims dropping to 201K, the lowest level since January. Meanwhile, the Philly Fed dropped to -13.5 in September from 12.0 in the previous reading, worse than expected at -0.7. Existing Home Sales fell to 4.04M MoM in August from the previous reading of 4.07M.

The Federal Reserve (Fed) held interest rates unchanged at the 5.25-5.50% range on Wednesday, as widely predicted in the market. Fed Chairman Jerome Powell reaffirmed the Fed's commitment to achieving 2% inflation in a press conference while mentioning that the Fed is ready to raise rates if necessary. These hawkish remarks boost the Greenback against the Aussie and act as a headwind for the AUD/USD pair.

On the other hand, the recent data from Australia revealed on Friday that the preliminary S&P Global Services PMI posted 50.5 in September, improved from 47.8 in August. While the Manufacturing PMI dropped to 48.2 from 49.6 in the previous reading. The Composite Index was also improved from 48.0 to 50.2.

Looking ahead, market participants will closely monitor the preliminary US S&P Global/CIPS PMI data for September. Traders will take cues from these figures and find trading opportunities around the AUD/USD pair.

 

AUD/USD

Overview
Today last price 0.6415
Today Daily Change -0.0033
Today Daily Change % -0.51
Today daily open 0.6448
 
Trends
Daily SMA20 0.643
Daily SMA50 0.6541
Daily SMA100 0.6611
Daily SMA200 0.6699
 
Levels
Previous Daily High 0.6511
Previous Daily Low 0.644
Previous Weekly High 0.6474
Previous Weekly Low 0.6378
Previous Monthly High 0.6724
Previous Monthly Low 0.6364
Daily Fibonacci 38.2% 0.6467
Daily Fibonacci 61.8% 0.6484
Daily Pivot Point S1 0.6421
Daily Pivot Point S2 0.6395
Daily Pivot Point S3 0.635
Daily Pivot Point R1 0.6493
Daily Pivot Point R2 0.6538
Daily Pivot Point R3 0.6564

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD retreats toward 1.0850 despite weak US employment data

EUR/USD retreats toward 1.0850 despite weak US employment data

EUR/USD loses its traction and declines toward 1.0850 after testing 1.0900 earlier in the session. Because Nonfarm Payrolls data for October missed the market expectation by a wide margin due to hurricanes and strikes, the US Dollar manages to hold its ground.

EUR/USD News
GBP/USD climbs above 1.2950, looks to end week little changed

GBP/USD climbs above 1.2950, looks to end week little changed

GBP/USD benefits from the improving risk mood and trades in positive territory above 1.2950 in the American session on Friday as markets ignore the weak labor market data from the US. The pair remains on track to end the week flat.

GBP/USD News
Gold clings to small gains near $2,750 after US data

Gold clings to small gains near $2,750 after US data

Gold clings to marginal recovery gains and trades slightly above $2,750. The 10-year US Treasury bond yield struggles to push higher after the dismal October jobs report and weaker-than-expected PMI data from the US, helping XAU/USD keep it footing.

Gold News
Bitcoin Weekly Forecast: Run toward fresh all-time high hinges on US presidential election results

Bitcoin Weekly Forecast: Run toward fresh all-time high hinges on US presidential election results

Bitcoin could experience a price pullback in the next few days ahead of the US presidential election, analysts say, an event that will be key to determining whether and how the crypto class will be regulated in the years to come.

Read more
Bank of Japan holds rates steady amid signs of modest GDP growth

Bank of Japan holds rates steady amid signs of modest GDP growth

Monthly industrial production results have been mixed but generally indicate a modest recovery in third-quarter GDP. Clear guidance from the Bank of Japan remains elusive, with each upcoming meeting being pivotal.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures