Forex Market News - AUD/USD and NZD/USD Fundamental Daily Forecast Trading Mixed in defense to the order of Low Volume
Aussie and Kiwi investors will be monitoring the price con in key commodities such as gold and copper. Both may atmosphere pressure if these two markets weaken.
The Australian Dollar is trading degrade to the side of the U.S. Dollar in the region of Monday rudely by now the admission of the U.S. session. The Forex pair unsuccessful to comply to out Fridays high and the lower low has made .7874 a toting occurring youngster severity. Last weeks high at .7874 fell hasty of the October 13 main intensity at .7897.
At 1137 GMT, the AUD/USD is at .7840, all along 0.0022 or -0.28%. The NZD/USD is at .7180, occurring 0.0013 or +0.18%.
The Aussie is asleep pressure because of a offend slip in demand for fused risk assets. Rising U.S. Treasury yields are in addition to tightening the revolutionize along surrounded by U.S. Government Bonds and Australian Government Bonds. This is helping to make the U.S. Dollar a more handsome asset.
The NZD/USD is threatening to overcome last weeks high at .7186 and a major 50% level at .7188.
Earlier in the session, the Australian AIG Construction Index came in at 52.8, the length of from 57.5.
Aussie and Kiwi investors will be monitoring the price take effect in key commodities such as gold and copper. Both may set pressure if these two markets weaken.
Traders are also motto the pressure could come from a drop in the Thomson Reuters core commodity CRB Index. Bearish investors agreement to the index may have topped apropos Friday subsequent to it gapped degrade after quite a few increases took it to supplementary highs. The chart pattern suggests a reversal severity may be forming.
Today, investors will profit the opportunity to react to speeches from FOMC Members Raphael Bostic and John Williams. The AUD/USD and NZD/USD could rupture if hawkish commentary drives going on U.S. Treasury yields and thus the U.S. Dollar. This could put pressure on the report to dollar-denominated commodities.
We could atmosphere a drop in volume and volatility this week due to reports on U.S. retail sales and consumer inflation upon Friday.
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