Jan 27, 2021 01:57 GMTFXStreet News
AUD/JPY rises to one-week high before stepping back even as Australia’s Q4 CPI jumps above market forecasts.
Aussie Westpac Leading Index eased below 0.7% prior in December, NAB Business Confidence dropped as well.
Market sentiment seesaws on mixed data, vaccine hopes and IMF’s upward revision to global economic growth.
Pre-Fed sentiment can probe the traders but risk catalysts may offer intermediate moves.
AUD/JPY drops to 80.35, following the recent jump to refresh weekly top with 80.44 level, during Wednesday’s Asian session. The pair initially responded to Australia’s better-than-forecast Consumer Price Index (CPI) data for the fourth quarter (Q4) but soft Business Confidence from the National Australia Bank (NAB), following Westpac Leading Index, probed the upside momentum.
Dec 16, 2020 00:12 GMTFXStreet News
AUD/USD consolidates the previous day’s gains around the highest since June 2018, marked on Monday.
Trade sentiment remains positive on vaccine, US aid package hopes.
Western tussle with China, virus woes challenge the bulls.
Australia’s Commonwealth Bank PMIs rose in December, Westpac Leading Index, HIA New Home Sales awaited.
AUD/USD wavers around 0.7550/60 during the initial Asian session on Wednesday. The aussie pair benefited from the broad risk-on mood the previous day. However, fears of an escalation in the US-China and the Canberra-Beijing tussles probed the bulls near the multi-day high refreshes earlier in the week. Traders currently await the US stimulus headlines while paying less heed to the activity numbers flashed by the Commonwealth Bank of Australia (CBA).
12/16/2020 11:53:57 AM GMT | By Eren Sengezer
AUD/USD climbed to a fresh multi-year high on Wednesday.
Business activity in Australia s private sector expanded at a strong pace in December.
Risk flows continue to dominate financial markets ahead of Fed s policy decisions.
Supported by the risk flows and the upbeat macroeconomic data releases from Australia, the AUD/USD pair advanced to its highest level since June 2018 at 0.7580. With investors moving to the sidelines ahead of US data releases and the FOMC s policy announcements, the pair is consolidating its gains and was last seen rising 0.22% on the day at 0.7572.
The Commonwealth Bank s Manufacturing and Services PMI in December improved to 57.4 and 56, respectively, to show that the economic activity in Australia s private sector continued to expand at a robust pace. Additionally, the Westpac Leading Index rose to 0.46% in November from 0.3%.
FTSE 100 to open marginally higher
The FTSE 100 is set to open at 6517.5, up 0.04% from 6514.4 at the close on Monday.
European indices to open slightly higher
The Euro STOXX Index is called to open at 3499.5, 0.1% higher from 3498.3 at the end of play yesterday.
Germany’s DAX is set to open marginally higher at 13217.8 from 13211.1, while France’s CAC 40 is to edge 0.1% higher at 5519.0 from 5511.0.
COVID restrictions tighten as new variant is found
London and areas in the south-east of England are to enter tier 3 restrictions on Wednesday as cases continue to rise, with health secretary Matt Hancock confirming over 1,000 cases of a new variant of the coronavirus have been identified. A mutation of the virus is normal, according to experts, and the concern remains rising case numbers. The tighter restrictions will be a blow to the Capital, shutting hospitality industries.