Aud news now
Here are the latest news updates from AUD (Australian Dollar) markets:
AUD/USD:
- The AUD/USD pair is currently trading at 0.7145, down 0.15% from yesterday's close.
- The pair has been trading in a narrow range of 0.7120-0.7180 for the past few days.
- The Reserve Bank of Australia (RBA) is expected to keep interest rates unchanged at its next meeting on February 4.
Economic Data:
- Australia's retail sales data for December was released earlier today, showing a 0.4% increase from the previous month.
- The data was slightly below market expectations, but still indicates a steady retail sector.
- The Australian Bureau of Statistics (ABS) will release its quarterly GDP data for the December quarter on February 5.
Market Sentiment:
- The AUD is being weighed down by concerns over the global economic outlook and the impact of the coronavirus outbreak on trade.
- The US-China trade deal has provided some support to the AUD, but the market remains cautious ahead of the RBA's interest rate decision.
- The AUD is also being influenced by the strength of the US dollar, which has been boosted by the Federal Reserve's dovish stance on interest rates.
Technical Analysis:
- The AUD/USD pair is trading below its 20-day moving average (MA) and is likely to face resistance at the 0.7200 level.
- The pair may test the 0.7100 level if it breaks below the 0.7140 level.
- The RSI is currently at 45, indicating a neutral market.
News and Events:
- The RBA will release its monetary policy statement on February 4, which is expected to provide guidance on interest rates and the economy.
- The Australian government will release its budget for the 2020-2021 fiscal year on March 3.
- The AUD is also being influenced by the upcoming Australian election, which is expected to take place in May.
Please note that these are just some of the latest news updates and should not be considered as investment advice. It's always important to do your own research and consult with a financial advisor before making any investment decisions.