AUD to USD Forecast: China Economic Indicators, the Middle East, and Sub-$0.64
==========
On Tuesday, risk aversion could impact the Aussie dollar as geopolitical tensions in the Middle East influenced the overnight US session. The Chinese economy will also be in focus, with Q1 GDP numbers out. Economists forecast the Chinese economy to expand 5.0% year-on-year after growing 5.2% in Q4. Forecasts for industrial production and retail sales also suggest weaker trends. The US housing market will be in focus, with economists forecasting building permits to decline by 0.7% in March. FOMC member commentary and news updates from the Middle East also need monitoring. Near-term AUD/USD trends will hinge on the stats from China, stimulus chatter from Beijing, and news from the Middle East. The AUD/USD remained comfortably below the 50-day and 200-day moving averages, affirming the bearish price signals. An Aussie dollar break above the $0.64582 resistance level would support a move toward the 50-day EMA. Conversely, an AUD/USD fall through the $0.64 handle could bring the $0.62713 support level into view.
#Aud/usd #China #MiddleEast #GeopoliticalTensions #Q1Gdp #IndustrialProduction #RetailSales #UsHousingMarket #Fomc #MovingAverages
https://www.fxempire.com/forecasts/article/aud-to-usd-forecast-china-economic-indicators-the-middle-east-and-sub-0-64-1423858
FX Empire /
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2024-04-16 00:40:49
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2024-04-16 00:40:49Event JSON
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"content": "AUD to USD Forecast: China Economic Indicators, the Middle East, and Sub-$0.64\n==========\n\nOn Tuesday, risk aversion could impact the Aussie dollar as geopolitical tensions in the Middle East influenced the overnight US session. The Chinese economy will also be in focus, with Q1 GDP numbers out. Economists forecast the Chinese economy to expand 5.0% year-on-year after growing 5.2% in Q4. Forecasts for industrial production and retail sales also suggest weaker trends. The US housing market will be in focus, with economists forecasting building permits to decline by 0.7% in March. FOMC member commentary and news updates from the Middle East also need monitoring. Near-term AUD/USD trends will hinge on the stats from China, stimulus chatter from Beijing, and news from the Middle East. The AUD/USD remained comfortably below the 50-day and 200-day moving averages, affirming the bearish price signals. An Aussie dollar break above the $0.64582 resistance level would support a move toward the 50-day EMA. Conversely, an AUD/USD fall through the $0.64 handle could bring the $0.62713 support level into view.\n\n#Aud/usd #China #MiddleEast #GeopoliticalTensions #Q1Gdp #IndustrialProduction #RetailSales #UsHousingMarket #Fomc #MovingAverages\n\nhttps://www.fxempire.com/forecasts/article/aud-to-usd-forecast-china-economic-indicators-the-middle-east-and-sub-0-64-1423858",
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