Australian Dollar facing mixed signals vs. USD, CAD and EUR. AUD/USD may reverse higher on support, AUD/CAD ranging. EUR/AUD downtrend remains despite recent consolidation.
AUSTRALIAN DOLLAR, AUD/USD, CHINESE INFLATION – TALKING POINTS
The Australian Dollar probed higher as the RBA kept its benchmark OCR interest rate unchanged at 1 percent and signaled it may not be in a hurry to cut again.
It's going to be a big week for the US Dollar and likely US equities as the Jackson Hole Economic Symposium kicks off on Wednesday.
The US Dollar has seen a different tonality so far in July, but a short-term theme of strength runs counter to an intermediate-term scenario of weakness.
The US Dollar is coming off of bearish backdrop in June, but prices so far in Q3 have pushed up for a test of lower-high resistance.
Last week was big for the US Dollar, but with only a week left until the Q3 open – can sellers continue to push? Both EURUSD and AUDUSD are set up.
The US Dollar came into the month of June screaming-lower, but has since found support. Next week's FOMC looms large, will buyers be able to hold the bid?
The US Dollar has finally found some element of support at a key Fibonacci level which is confluent with the 200-day moving average. Can it hold?
The US Dollar had a very strong outing last week. Can buyers remain in-charge to push up to a fresh 2019 high?
The US Dollar broke above the triangle formation this week, but next week's economic calendar is loaded with risk items, including FOMC: Time to make or break.
The March Australia jobs report is due on Thursday, April 18 at 01:30 GMT.
While it's been a low volatility showing across FX so far in 2019, few markets have displayed the consistency with range-bound formations as the Australian Dollar.