AUDUSD InsightHello to all our subscribers!
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Key Points
- Dollar strength continues with the “Trump trade” and rising U.S. Treasury yields.
- Expectations are growing that the euro may fall to near-parity levels as Germany heads toward early elections.
- The eurozone could face significant setbacks if tariffs are imposed due to Trump’s election.
- Minneapolis Fed President Neel Kashkari stated that the December rate cut could be paused if inflation is higher than anticipated.
- Uncertainty surrounds the Reserve Bank of Australia's rate cut path, with reports that Japanese investors are selling Australian bonds.
- Australian Treasurer Jim Chalmers remarked that “Australia is more resilient to trade wars than other countries.”
Key Economic Data Schedule
- November 13: U.S. October CPI
- November 14: U.S. October PPI, Australia October Unemployment Rate
- November 15: Fed Chair Powell's Speech, Japan Q3 GDP, U.K. Q3 GDP, U.S. October Retail Sales
AUD/USD Chart Analysis
The AUD/USD is currently in a downtrend, with a likely decline to the 0.64000 level after breaking below 0.66000. A rebound from the 0.64000 level could lead to a climb back up to the 0.69000 level. However, if the support level is breached, there’s a high chance of a drop to the 0.62000 level.
If the downward momentum intensifies, we will swiftly develop a new strategy.
