Fundamentals
AUD
The slowdown of the Chinese economy drags down Australia which heavily exports to China, thus bearish sentiments in the AUD.
Today economic data on China is mixed: even though there were some improvements in Manufacturing PMI, the markets couldn't hold gains in the next few hours. Such minor improvements are just a drop in the sea of current broader structural deficiencies.
In addition, yesterday Australia posted weak data on Building Approvals and Construction Work Done, which are quite a catalyst for AUD weakness.
USD: "Higher rates for longer" narrative. Although the employment data is expected to come out at a decline. So In case the expectations are missed, positions should be managed in a risk-averse manner.
Technical & other
Setup: S(RTF)
Setup timeframe: 4h
Trigger: 4h
Medium-term: Down
Long-term: Down
Min target: Aug lows
Risk: 0.52%
AUD
The slowdown of the Chinese economy drags down Australia which heavily exports to China, thus bearish sentiments in the AUD.
Today economic data on China is mixed: even though there were some improvements in Manufacturing PMI, the markets couldn't hold gains in the next few hours. Such minor improvements are just a drop in the sea of current broader structural deficiencies.
In addition, yesterday Australia posted weak data on Building Approvals and Construction Work Done, which are quite a catalyst for AUD weakness.
USD: "Higher rates for longer" narrative. Although the employment data is expected to come out at a decline. So In case the expectations are missed, positions should be managed in a risk-averse manner.
Technical & other
Setup: S(RTF)
Setup timeframe: 4h
Trigger: 4h
Medium-term: Down
Long-term: Down
Min target: Aug lows
Risk: 0.52%
交易手动结束:
The position wasn't in profit 15m before the US data release.
交易开始:
Reentered around the same price as the US data came out stronger than expected.