AUD/USD weekly special report based On 1.00 Lot Calculation:
- EVENT (TUESDAY, SEPTEMBER 5 AT 05:30 GMT+1): RESERVE BANK OF AUSTRALIA INTERES RATE DECISION. The Reserve Bank of Australia is expected to keep interest rates unchanged at 4.10% in September. The bank disappointed the markets in August and July, when kept the benchmark interest rates unchanged at 4.10% amid expectations for an increase to 4.35%. These disappointments have helped the Australian Dollar fall by around 4.00% since July.
- AUSTRALIAN DOLLAR UNDER PRESSURE AS CHINA, THE LARGEST TRADE PARTNER TO AUSTRALIA, FACES ECONOMIC DOWNTURNS. China also kept disappointing the markets in the third quarter of 2023, defying expectations for a stronger economic recovery in Q3 and Q4. When China’s economy weakens, demand for Australian products fall, having a negative impact on Australian exports. This in turn has negative impact on the Australian economy, putting negative pressure on the domestic, Australian currency.
- AUSTRALIAN DOLLAR FALLS ON DECLINING BASE- METAL PRICES. The commodity linked Australian dollar has also come under pressure due to falling commodity prices like Copper, which has lost around 7% over the past two months. Australia is one of the largest producers and exporters of copper, so falling copper prices could have negative impact on their economy. Therefore, the Australian dollar could be expected to remain under negative pressure.
AUDUSD, August 18, 2023
Current Price: 0.6410
|
AUD/USD |
Weekly |
|
Trend direction |
|
|
0.6600 |
|
|
0.6550 |
|
|
0.6500 |
|
|
0.6310 |
|
|
0.6240 |
|
|
0.6170 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
-1,900 |
-1,400 |
-900 |
1,000 |
1,700 |
2,400 |
|
Profit or loss in €² |
-1,748 |
-1,288 |
-828 |
920 |
1,564 |
2,208 |
|
Profit or loss in £² |
-1,494 |
-1,101 |
-708 |
786 |
1,337 |
1,887 |
|
Profit or loss in C$² |
-2,574 |
-1,897 |
-1,219 |
1,355 |
2,303 |
3,251 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 09:00 (GMT+1) 18/08/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
- You may wish to consider closing your position in profit, even if it is lower than suggested one
- Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more details