The Aussie lost its intraweek gains due to Coronavirus scare last week. Which catalysts can affect the comdoll this week?
China’s CPI data (Feb 10, 1:30 am GMT)
- China’s consumer prices rose by 5.4% in January vs. 4.9% expected and 4.5% in December
- Producer prices inched 0.1% higher vs. 0.0% expected, -0.5% previous
Home loans and business confidence (Feb 11, 12:30 am GMT)
- Home loans slowed down from 2.0% to 1.8% in November
- NAB’s business confidence is expected to improve from -2 to 0 in January
Market risk sentiment
- A lack of top-tier Australian data will make AUD vulnerable to Coronavirus updates
- Fed’s Powell is also set to testify on the economy on Tuesday and Wednesday
- Top-tier reports like U.K.’s GDP, U.S. CPI and retail sales, and Lagarde’s speech can also affect AUD’s price action
- Stochastic believes NZD is “overbought” against NZD and “oversold” against USD
- AUD/NZD is trading above its 50 SMA but below its 200 SMA. Watch out for potential retracement or reversal opportunities
Missed last week’s price action? Read AUD’s price recap for February 3 – 7!
Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.
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