The dollar’s decline yesterday came after a rather abysmal US Services PMI reading in which, if you exclude the pandemic, was the worst reading since 2009. It was hard for the dollar to regain confidence immediately after, but USD/JPY retreated. from a low of 135.80 to go back to 137.00 today.
Despite the worrying data, the dollar remains technically in a good place and the EUR/USD continues to remain below parity so far. The pair is down 0.2% at 0.9950 now after a rejection at the key figure level:
Looking at the charts, the dollar is still in charge for the most part with GBP/USD taking another look at 1.1800 and AUD/USD
AUD/USD
AUD/USD is the currency pair that includes the Australian dollar of the Commonwealth of Australia (symbol $, code AUD) and the dollar of the United States of America (symbol $, code USD). The pair rate indicates how many US dollars are needed to buy one Australian dollar. For example, when AUD/USD is trading at 0.7500, it means that 1 Australian dollar is equal to 0.75 US dollars. The Australian dollar (AUD) is the fifth most traded currency in the world, while the US dollar (USD) is the most traded currency in the world, resulting in a very liquid, spread-tight pair, often held within the range of 1 to 3 pips. at most forex brokers. AUD/USD Popular with various types of traders The AUD/USD is considered by many traders to be perhaps the most consistent currency pair when it comes to swing trading as it has often moved in constant cycles. Having said that, each pair presents its own challenges. for merchants. AUD/USD is very popular with swing traders as the four-hour time frame is, historically at least, more reliable than others. Historically, the AUD/USD is influenced by interest rate differentials, commodity prices, government credit ratings, and general sentiment and speculation.
AUD/USD is the currency pair that includes the Australian dollar of the Commonwealth of Australia (symbol $, code AUD) and the dollar of the United States of America (symbol $, code USD). The pair rate indicates how many US dollars are needed to buy one Australian dollar. For example, when AUD/USD is trading at 0.7500, it means that 1 Australian dollar is equal to 0.75 US dollars. The Australian dollar (AUD) is the fifth most traded currency in the world, while the US dollar (USD) is the most traded currency in the world, resulting in a very liquid, spread-tight pair, often held within the range of 1 to 3 pips. at most forex brokers. AUD/USD Popular with various types of traders The AUD/USD is considered by many traders to be perhaps the most consistent currency pair when it comes to swing trading as it has often moved in constant cycles. Having said that, each pair presents its own challenges. for merchants. AUD/USD is very popular with swing traders as the four-hour time frame is, historically at least, more reliable than others. Historically, the AUD/USD is influenced by interest rate differentials, commodity prices, government credit ratings, and general sentiment and speculation.
Read this Term it was also down 0.4% at 0.6900 on the day as risk tones continue to reflect softer sentiment. S&P 500 futures are down another 14 points, or 0.3%, today after yesterday’s pullback.
Elsewhere, the bond market continues to maintain recent technical momentum as 10-year yields remain above 3% despite a sharp initial drop after poor overnight data. It looks like the markets want to stick with the narrative from earlier in the week until we get to Jackson Hole before any other major moves.