|Week Ending 2022-09-16|
|Week 2022-09-16||-1.78%||-122 Pips|
Next week key events (London Time)
Tue 02:30 AM AUD RBA Meeting Minutes
Wed 07:00 PM USD Fed Interest Rate Decision
Wed 07:00 PM USD Fed’s Monetary Policy Statement
Wed 07:00 PM USD FOMC Economic Projections
Wed 07:30 PM USD FOMC Press Conference
What happened over the week
📆 ☢️ 🇺🇸 USD Retail Sales (MoM) in August rose to 0.3% compared to previous figure -0.4, revised from 0% in July. Source
📆 🇺🇸 USD Philadelphia Fed Manufacturing Survey in September below forecast and dropped to -9.9 points compared to previous figure 6.2 points in August. Source
📆 USD In the week ending 10 September, the Initial Jobless Claims dropped to 213K compared to previous figure 218K (revised from 222K). Source
📆 ☢️ 🇦🇺 AUD Unemployment Rate s.a. in August exceed forecast and rose to 3.5% compared to previous figure 3.4% in July. Source
📆 🇦🇺 AUD Full-Time Employment in August rose to 58.8K compared to previous figure -86.9K in July. Source
📆 🇺🇸 USD Producer Price Index ex Food & Energy (YoY) in August exceed forecast and dropped to 7.3% compared to previous figure 7.6% in July. Source
📆 🇺🇸 USD Monthly Budget Statement in August exceed forecast and dropped to -220$ compared to previous figure -211$ in July. Source
📆 🇺🇸 USD Consumer Price Index (MoM) in August exceed forecast and rose to 0.1% compared to previous figure 0% in July. Source
What can we expect from AUDUSD for the new week and what happened on Friday?
AUDUSD on Friday rose 0.30% to 0.67180. Price is below 9-Day EMA while Stochastic is falling but in oversold zone. For the week ending 2022-09-16, the pair dropped -1.78% or -122 pips lower.
Looking ahead on Monday after previous session, AUDUSD looks mixed as the pair is likely to consolidate above week low of 0.66660.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.69161 or at least trades above Weekly Pivot level of 0.67667. On the downside, we are looking at week low 0.66660 or 0.66173 (WS1) as immediate support level. AUDUSD need to break on either side to indicate a short-term bias. A close below week low of 0.66660 would indicate selling pressure.
For the month of September, AUDUSD is down by -1.81% or -124 pips lower.
Weekly key levels to watch out:
You might also be interested in:
Manufacturing and Trade Inventories and Sales Source: Census Bureau
Advance Monthly Sales for Retail and Food Services Source: Census Bureau
Business Formation Statistics Source: Census Bureau
U.S. import prices decrease 1.0% in August on lower fuel prices; export prices fall 1.6% Source: Bureau of Labor Statistics Publications
PPI for final demand declines 0.1% in August; goods fall 1.2%, services increase 0.4% Source: Bureau of Labor Statistics Publications
CPI for all items rises 0.1% in August as shelter and food increase, gasoline falls Source: Bureau of Labor Statistics Publications
#AUDUSD trending on Twitter