AUDUSD InsightHello, subscribers!
It's great to see you all here. Please feel free to share your personal opinions in the comments. Don’t forget to like and subscribe!
Key Points:
- U.S. President Donald Trump refrained from announcing tariffs during his inauguration but later stated that he is "considering imposing a 25% tariff on Mexico and Canada, with February 1st being a potential timeline."
- China expressed a conciliatory stance towards the U.S., stating, "There are no winners in a trade war, but we will import more products."
- Atsushi Mimura, Japan's Vice Finance Minister, voiced concerns over yen depreciation, noting that "a weaker yen will raise import prices, triggering inflation," and added that "real wages must turn positive to support consumption."
- In Australia, the number of bankruptcies in the 2025 fiscal year surged by over 50% compared to the previous year. The market expects this trend to continue until mid-2025, when the Reserve Bank of Australia is anticipated to cut interest rates.
This Week’s Key Economic Event:
+ January 24: Bank of Japan Interest Rate Decision
AUD/USD Chart Analysis:
While the price showed a short-term sharp rebound off the trendline support, it remains capped by resistance at the 0.63000 level, limiting further upward momentum. There’s a high probability of a bearish reversal in the current range, and if the anticipated move occurs, the price is expected to drop to the 0.60000 level.
On the other hand, if the 0.63000 resistance is unexpectedly breached, a rally towards the 0.66000 level becomes highly likely.
