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On the 13th of last month, the January Consumer Price Index (CPI) for the United States was released. Both CPI Year-over-Year (YOY) and Core CPI YOY exceeded expectations, which led to a significant retreat in expectations for a Fed rate cut. However, it appears that the Fed has intervened to soothe the market, which is causing some moderation in the strength of the dollar. Future developments are expected to play a crucial role in determining direction.
- US January CPI YOY came in at 3.1%, surpassing the expected 2.9%. Core CPI YOY stood at 3.9%, exceeding the market's expected 3.7%.
- US Retail Sales and Import-Export Price Indices for February 15th will be announced.
- US January Producer Price Index (PPI) will be released on February 16th.
- The minutes of the Reserve Bank of Australia's monetary policy meeting will be published on February 20th.
The chart for the Australian dollar is depicting an upward trend. However, there is pressure coming from the highs, indicating a potential medium to long-term decline. Although we are currently in the process of confirming support at the trendline following the recent decline, it is expected that this range will be breached, with a downward move anticipated towards the 0.62000 line. While the selling view is confirmed, short-term rebounds may occur due to variables, but reaching the previous highs seems difficult.
Two movements are most anticipated:
First, a decline to the 0.62000 line after a short-term rebound followed by high resistance.
Second, a break of the trendline support and a decline to the 0.62000 line.
We expect AUDUSD to decline to the 0.62000 line while maintaining a selling view. We'll adjust our strategy if there are any variables.
On the 13th of last month, the January Consumer Price Index (CPI) for the United States was released. Both CPI Year-over-Year (YOY) and Core CPI YOY exceeded expectations, which led to a significant retreat in expectations for a Fed rate cut. However, it appears that the Fed has intervened to soothe the market, which is causing some moderation in the strength of the dollar. Future developments are expected to play a crucial role in determining direction.
- US January CPI YOY came in at 3.1%, surpassing the expected 2.9%. Core CPI YOY stood at 3.9%, exceeding the market's expected 3.7%.
- US Retail Sales and Import-Export Price Indices for February 15th will be announced.
- US January Producer Price Index (PPI) will be released on February 16th.
- The minutes of the Reserve Bank of Australia's monetary policy meeting will be published on February 20th.
The chart for the Australian dollar is depicting an upward trend. However, there is pressure coming from the highs, indicating a potential medium to long-term decline. Although we are currently in the process of confirming support at the trendline following the recent decline, it is expected that this range will be breached, with a downward move anticipated towards the 0.62000 line. While the selling view is confirmed, short-term rebounds may occur due to variables, but reaching the previous highs seems difficult.
Two movements are most anticipated:
First, a decline to the 0.62000 line after a short-term rebound followed by high resistance.
Second, a break of the trendline support and a decline to the 0.62000 line.
We expect AUDUSD to decline to the 0.62000 line while maintaining a selling view. We'll adjust our strategy if there are any variables.