The AUD/USD got a boost yesterday from China's positive NBS and HSBC Manufacturing PMI, with the former rising from 50.3 to 51.0, beating the original expectation of 50.6, while the latter rose from 47.7 to 50.1, which was slightly lower than the 50.2 that was expected. The positive Building Permits data from Australia also helped lift the pair in yesterday's session. The MoM data rose from -6.3% to 10.8%, while on a YoY basis, it went from -11.8% to 28.3%.
The pair continues with its uptrend today in anticipation of the RBA Interest Rate Decision (4:30AM GMT), wherein in the Reserve Bank is expected to maintain rates at 2.5%.
The AUD/USD pair is currently trading at 0.9017, with initial resistance seen at 0.8939, followed by 0.8952. Meanwhile, initial support is at 0.8862, followed by 0.8840.
The USD/JPY pair is also on an uptrend at the moment, which is primarily due to the increased hawkishness of the US and the dovishness of Japan. Traders of the pair should also keep track of upcoming events later this week that include the BoJ's Interest Rate Decision as well as employment data from the US.
The pair is currently trading at 99.57, with initial resistance seen at 99.98, followed by 100.23. Meanwhile, initial support is at 98.81, followed by 98.57.
In the case of the GBP/USD, the pair got its boost from positive data from the UK with the Marikit Manufacturing PMI going up from 54.8 to 57.2, which was better than the expected 55.0. This helped the pair reach a high of 1.5593 in yesterday's trading. It has, however, slipped under 1.5540 around the US session and is currently on an uptrend. The pair is trading at 1.5551 at the moment.
Initial resistance for the GBP/USD is at 1.5516, followed by 1.5555. Meanwhile, initial support is at 1.5449, followed by 1.5410.
Create a FREE account