AUDUSD on Thursday dropped -0.8% to 0.64961. What is going on.

AUDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.8%	-52.7 Pips
Week to-date	-0.9%	-58.9 Pips
August	-0.81%	-52.8 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Average Hourly Earnings (12-mth)

What happened lately

🇺🇸 The Q2 flash estimate for U.S. unit labor costs dropped to 0.9%, down from 4% in Q1. Source: Bureau of Labor Statistics
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q2 flash estimate rose to 2.3%, compared to the previous figure of 0.2% in Q1. Source: Bureau of Labor Statistics
🇺🇸 In the week ending 27 July, U.S. Initial Unemployment Insurance Claims rose to 249K compared to previous figure 235K Source: Department of Labor
🇦🇺 Australia Imports (1-mth) in June dropped to 0.5% compared to previous figure 3.3% (revised from 3.9%) Source: Australian Bureau of Statistics
🇦🇺 Australia’s monthly imports in June dropped to 0.5%, down from 3.9% in May. Source: Australian Bureau of Statistics
🇦🇺 Australia Trade Balance (1-mth) in June rose to 5589M compared to previous figure 5052M (revised from 5773M) Source: Australian Bureau of Statistics
🇦🇺 Australia Exports (1-mth) in June rose to 1.7% compared to previous figure 1.3% (revised from 2.8%) Source: Australian Bureau of Statistics
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Pending Home Sales (1-mth) in June rose to 4.8%, compared to the revised May figure of -1.9%, up from the initial -2.1%.
U.S. Pending Home Sales (1-mth) in June increased to 4.8%, up from the revised May figure of -1.9%, which was initially reported as -2.1%.
🇺🇸 In July, the U.S. Chicago Purchasing Managers’ Index fell to 45.3 points from 47.4 points in June.
🇺🇸 The U.S. Employment Cost Index (ECI) in Q2 decreased to 0.9% from the previous figure of 1.2% in Q1. Source: Bureau of Labor Statistics
🇦🇺 Australia’s Monthly CPI Indicator (12-mth) in June dropped to 3.8%, down from 4% in May. Source: Australian Bureau of Statistics
Australia’s RBA Trimmed Mean CPI (3-month) in Q2 dropped to 0.8%, down from the previous figure of 1% in Q1. Source: Reserve Bank of Australia
🇦🇺 Australia Retail Trade Turnover (seasonally adjusted) (1-mth) in June dropped to -0.3% from 0.6% in May. Source: Australian Bureau of Statistics

Latest from X (Twitter)

Tweets by Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Thursday dropped -0.8% to 0.64961. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at S1 0.64697 with break below could see further selling pressure towards S2 at 0.64433. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.65599 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.64884 would indicate selling pressure.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -0.9%.

Key levels to watch out:

#AUDUSD Trending on Twitter

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