{"id":151844,"date":"2023-09-08T04:20:15","date_gmt":"2023-09-07T22:50:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151844"},"modified":"2023-09-08T04:20:15","modified_gmt":"2023-09-07T22:50:15","slug":"aud-usd-stalls-on-us-jobless-claims-as-chinas-economic-weakness-dampens-mood-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aud-usd-stalls-on-us-jobless-claims-as-chinas-economic-weakness-dampens-mood-crypto-news\/","title":{"rendered":"AUD\/USD stalls on US jobless claims, as China\u2019s economic weakness dampens mood &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>AUD\/USD trades flat at 0.6375 as Australia posts a trade surplus of A$8 billion in July, missing estimates and sparking risk-off sentiment.<\/strong><\/li>\n<li><strong>US jobless claims of 216K beat estimates, reinforcing the Fed\u2019s \u2018higher for longer\u2019 stance and putting downward pressure on AUD\/USD.<\/strong><\/li>\n<li><strong>Traders eye upcoming economic indicators from Australia and the US, including Westpac Consumer Confidence and US inflation figures.<\/strong><\/li>\n<\/ul>\n<p>The Aussie Dollar (AUD) pared its losses versus the US Dollar (USD) on Thursday after <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">US economic data<\/a> showed the US Federal Reserve (Fed) work is far from done, while weakness in China\u2019s exports weighed the market mood. At the time of writing, the AUD\/USD is trading at 0.6375, flat as Friday\u2019s Asian session commences.<\/p>\n<h2 class=\"fxs_headline_medium\">The Aussie Dollar remains flat against the US Dollar as strong US jobless claims and China\u2019s export slowdown create a mixed trading environment<\/h2>\n<p>Australia\u2019s economic docket showed that Imports surpassed Exports, but still, it showed a surplus on its Trade Balance of A$8 billion in July. Although the data is encouraging, missed estimates. That, alongside a weaker improvement of China\u2019s exports, spurred a risk-off impulse that carried on throughout the whole trading day, with Wall Street finishing with losses, except for the Dow Jones, witnessing decent gains of 0.22%.<\/p>\n<p>Aside from this, US economic data revealed by the US Department of Labor reinforced the Federal Reserve\u2019s need to hold rates higher for longer, as said by its <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Chairman Jerome Powell<\/a>. Unemployment claims for the last week rose by 216K, below estimates, while Continuing Claims gave signals that conditions are tightening.<\/p>\n<p>The data bolstered the US Dollar (USD), which, as shown by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">the US Dollar Index<\/a>, printed gains of 0.20%, standing near yearly highs above 105.000. Therefore, the AUD\/USD was downward pressure near the 0.6350s area.<\/p>\n<p>Meanwhile, US Treasury bond yields retreated somewhat, as money market futures slashed bets the US Federal Reserve would continue to tighten monetary policy, past the current Federal Funds Rate (FFR) at 5.25%-5.50%, Odds for a 25 bps rate hike in November, are at 43.4%.<\/p>\n<p>Recently, Federal Reserve officials have kept their options open regarding deciding the forward path of monetary policy. John Williams from the New York Fed said that policy is \u201crestrictive\u201d but refrained from commenting on his decision. Of late, Chicago\u2019s Fed President Austan Goolsbee said the Fed could reach the \u201cgolden path\u201d where inflation falls but recession is avoided.<\/p>\n<p>AUD\/USD traders should be attentive to next week\u2019s data. The Australian economic docket would feature the Westpac Consumer Confidence, NAB Business Confidence, and employment data. On the US front, inflation figures, Retail Sales, Industrial Production, unemployment claims and Consumer Sentiment would shed some light regarding the Fed\u2019s future decision.<\/p>\n<h3 class=\"fxs_headline_medium\">AUD\/USD Price Analysis: Technical outlook<\/h3>\n<p>The daily chart portrays the pair subdued at around the year lows of 0.6357, printing back-to-back sessions of spinning tops, suggesting that neither buyers nor sellers are in charge. However, the trend remains downward, and if the AUD\/USD drops below 0.6357, expect a challenge of the 0.6300 figure. Once cleared, the major would test the November 22 low of 0.6272. On the flip side, upside risks emerge above the September 6 high of 0.6405, with the next resistance at the September 5 high at 0.6464.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638297223843783883.png\"><\/a><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: AUD\/USD trades flat at 0.6375 as Australia posts a trade surplus of A$8 billion in July, missing estimates and sparking risk-off sentiment. US jobless claims of 216K beat estimates, reinforcing the Fed\u2019s \u2018higher for longer\u2019 stance and putting downward pressure on AUD\/USD. Traders eye upcoming economic indicators from Australia and the US, including Westpac [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":9467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[377,201,248,251,246,257,276,255,250,277,252,247,253,249,256,254],"class_list":["post-151844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-audusd","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151844"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151844\/revisions"}],"predecessor-version":[{"id":151845,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151844\/revisions\/151845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/9467"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}