EncoreFX’s daily market updates are written by our experienced and professional dealing team.
Author: Dennis Li
With the risk-off sentiment currently dominating the global markets the Aussie dollar remains broadly under pressure against its major peers. The AUDUSD touched its lowest level since 12 February 2016 at 0.7062 after further strong US economic data released overnight.
There is potential in the next 24 hours for the AUD to break below support or experience a modest rally with local retail sales data out at 11:30am Sydney time and US non- farm payrolls data released tonight. The American data will be more closely watched now that they are at “full employment” with the market looking for signs of the elusive wage growth. Barring any real move after the release of the aforementioned data, China’s return to the markets after a week off may provide the spark for a decent move.
© Copyright - EncoreFX, 2018.EncoreFX (Australia) Pty Ltd ABN 42 607 244 879 AFSL 479 870 is the issuer of the financial products in Australia. The information on this website has been prepared without taking into account your objectives, financial situation or needs and so before acquiring any financial services or products from EncoreFX, you should consider the appropriateness of the information having regard to your own objectives, financial situation or needs. You should obtain the product disclosure statement (PDS) for the relevant product and consider the PDS before making any decision to acquire the product. The information on this website is not directed at residents of any country other than Australia and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of, and comply with, any local law or regulation to which they are subject.