AUD Weekly Forecast (Feb. 10 – 14)

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

Technical snapshot

  • Stochastic believes NZD is “overbought” against NZD and “oversold” against USD

AUD Weekly Forecast (Feb. 10 – 14)

  • AUD/NZD is trading above its 50 SMA but below its 200 SMA. Watch out for potential retracement or reversal opportunities

AUD Weekly Forecast (Feb. 10 – 14)
Missed last week’s price action? Read AUD’s price recap for February 3 – 7!

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