- The US dollar is uniform because the focus is on global trade negotiations.
- PBOC continues to buy gold, signaling long -term interest.
- Chinese copper production is expanding by reducing dependence on importsTo.
The Australian dollar (AUD) is still under pressure because of the global trade uncertainty, especially by surrounding US-China trade speeches. Although there has been a light setback in copper production from China, trade transactions and economic policy in the market continue to influence feelings where positive moves are limited to Aussie.
Daily Digest Turku Markers: Aussie persist before trade in trade
- The US dollar (USD) is uniform because the market responds to the uncertainty and main data of trade transactions.
- Copper production in China continues to expand, reducing the import of future copper.
- The golden shops of the Chinese People's Bank (PBOC) have slowed down, although purchases are still durable.
- The US Dollar Sex (DXY) remains near 100.30, showing signs of resistance despite the titles of trade transactions.
- Trade negotiations between the US and China are planned for the weekend, raising hopes, but also cautious expectations.
- Despite its positive market reaction to a possible US -UK trade transaction, the UK's 10% tariff will remain.
- The import of Chinese crude oil increased, despite the global uncertainty.
- Chili's largest copper producer has increased its production by somewhat alleviating the fear of a global deficiency.
- PBOC gold purchases rose by 70,000 ounces, continuing their long -term strategy.
- US Federal Reserve officials are cautious, despite global trade voltages, there is no immediate reduction in interest rates.
- China's economic prospects are largely considered by goods related to goods, including Australian dollars.
- Although China expands its domestic copper production, it may still face the challenges of continuing global offer problems.
- Oil markets are struggling, worrying about future import volumes, especially from Iran.
Technical analysis
The Australian dollar currently trades about 0.6400, which is 0.30%a day. Relative strength index (RSI) at 54.85 refers to a neutral impulse, while the moving average approach (MACD) indicates a sales signal. Short-term moving mediums, including a 20-day simple moving average (SMA) 0.6401, refer to the bullish outlook supported by a 100-day SMA 0.6289 and 10-day exponential moving average (mother) 0.6419. However, the 200-day SMA at a price of 0.6460 shows the trend. The main territory levels are 0.6419, 0.6413 and 0.6401, with resistance 0.6425, 0.6431 and 0.6460.
Australian Dollar Fuck
One of the most important factors in the Australian Dollar (AUD) is the level of interest rates set by the Australian Reserve Bank (RBA). As Australia is a resource -rich country, the second key manager is the price of its largest export, iron ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as Australian inflation, its growth rate and trade balance. Market minds-investors accept more risky assets (risk-on) or are looking for safe Haven (risk-field) -s factor, which is a positive risk for AUD.
The Australian Reserve Bank (RBA) affects the Australian dollars (AUD), setting Australian banks to borrow to each other. This affects the level of interest rates for the entire economy. The main purpose of the RBA is to maintain a stable inflation rate of 2-3%by adjusting the interest rates up or down. Relatively high interest rates compared to other major central banks support AUD and the opposite relatively low. Quantitative alleviation and effort with the former AUD negative and another can also be used to influence the credit conditions.
China is the largest trading partner in Australia, so the health of the Chinese economy is a significant impact of the Australian dollar value (AUD). If the Chinese economy is doing well, it buys more raw materials, goods and services in Australia, raising the demand for AUD and pushing its value. The opposite is that the Chinese economy does not grow as fast as it was thought. Therefore, positive or negative surprises of Chinese growth data are often a direct impact on the Australian dollar and its couples.
Raudmaa ore is the largest export of Australia, which, according to the 2021 data, is $ 118 billion a year, which is the main destination of China. Therefore, the price of iron ore may be the Australian dollar leader. In general, AUD also rises the price of iron ore as the demand for all currency is increasing. The opposite is the case when the price of iron ore falls. Higher prices for iron ore also cause Australian positive trade balance, which is also positive for AUD.
A trade balance, which is a difference between what the state earns from its exports compared to what it pays for imports is another factor that can affect the value of the Australian dollar. If Australia produces highly coveted exports, it becomes a purely surplus demand from foreign buyers who want to buy their exports compared to what it spends to buy imports. Therefore, the positive net trade balance is strengthened by the AUD if the trade balance is negative.
