AUDUSD InsightHello, subscribers!
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Key Points:
- The U.S. December Services PMI came in at 54.1, exceeding both the previous month’s figure and market expectations.
- The U.S. November JOLTS report showed 8.1 million job openings, surpassing the previous figure of 7.84 million and the forecast of 7.73 million.
- Strong U.S. employment data and robust service sector indicators are interpreted as supporting the Federal Reserve’s decision to halt monetary easing. Markets expect no further rate cuts until at least March.
- Japan's Finance Minister Katsunobu Kato stated that the recent forex market has shown unilateral and rapid movements, and appropriate measures will be taken to address excessive volatility.
This Week's Major Economic Events:
+ January 8: U.S. December ADP Nonfarm Employment Change
+ January 9: Federal Open Market Committee (FOMC) Meeting Minutes
+ January 10: U.S. December Nonfarm Payrolls and Unemployment Rate
AUD/USD Chart Analysis:
After confirming a bottom near the 0.62000 level, the pair rebounded and climbed to the 0.63000 level but failed to break through. While there’s still a possibility of a rise toward the 0.63500 level, a break below the 0.62000 level would fully shift the trend to a bearish outlook, potentially targeting the 0.60000 level. Therefore, it’s crucial to monitor whether the 0.62000 level holds as support or is broken during this move.
