1️⃣ Worries that surging COVID-19 infections in India and Japan could derail the global economic recovery weighed on investors' sentiment.
2️⃣ The annual rate in Australia rose to 1.1% in Q1 2021 from 0.9% in Q4 and compared with market consensus of 1.4%. On a quarterly basis, consumer prices went up 0.6%, the least in three quarters, below forecasts of 0.9%.
1️⃣ Traders are also keenly watching soaring commodity prices as a jumpstart in global manufacturing fuels a surge in demand as Copper and Lumber prices hit all time highs, while Iron Ore hit a fresh 13-year peak.
2️⃣ Benefitted by cross-pairing, lead by declined Australian CPI .
- We are looking to sell AUDNZD at RBS on the M15 chart. This is short term trading strategy from Monsun Asia.
- Risk reward ratio is 2:1.
Risk to this trade
Any change in sentiment could turn the pair's direction.