AUD/USD Weekly Special Report based on 1.00 Lot Calculation:
- RESERVE BANK OF AUSTRALIA KEPT RATES UNCHANGED: Reserve Bank of Australia kept rates unchanged at 4.35% during its August meeting, stating that it was seeing some signs of easing inflation. But RBA governor Michele Bullock warned that any persistence in inflation could invite more rate hikes.
- WEDNESDAY, AUGUST 14 AT 13:30 GMT+1: US INFLATION (CPI) (JYLY). The US inflation continued falling, marking a decline from 3.5% to current 3.0% since April. If inflation continues falling, this could encourage the US Fed to start cutting its benchmark interest soon, which in return could put the US dollar under negative pressure.
- THURSDAY, AUGUST 15 AT 02:30 GMT+1: AUSTRALIA EMPLOYMENT CHANGES AND UNEMPLOYMENT RATE (JULY). The Australia’s unemployment rate has stood at 4.1% in June, still rising from March’s 3.7%. Employment changes, however, has shown a decent increase recently, rising to 50.2K in June, from negative 5.9K in April.
- THURSDAY, AUGUST 15 AT 13:30 GMT+1: US RETAIL SALES (JULY). The US retail sales data showed 0% growth in June, which was another worrisome signal for the US economy. If the trend continues in July, the US dollar could come under negative pressure by the end of the current week.
- THURSDAY, AUGUST 15 AT 13:30 GMT+1: US WEEKLY INITIAL JOBLESS CLAIMS. The weekly trend of the number of insurance requests due to first time unemployment has been rising since the start of the year. The trend has shown problems with the US labor market as the US unemployment had risen to its highest since 2021 (4.3%). If the trend continues, the US dollar could be expected to come under negative pressure.
- US FEDERAL RESERVE EXPECTED TO CUT RATES AGRESSIVELY STARTING SEPTEMBER 2024: The most recent economic turmoil in the US raised chances that the Fed could cut interest rates by 50 basis points in September, another 50 basis points in November and 25 basis points in December 2024. All in all, that could slash interest rates from the current 5.5% (the highest in over 20 years) to 4.25%. Falling interest rates in the US could put negative pressure on the US dollar.
AUDUSD, AUGUST 13, 2024
Current Price: 0.6590
|
AUD/USD |
Weekly |
|
Trend direction |
|
|
0.6760 |
|
|
0.6720 |
|
|
0.6690 |
|
|
0.6490 |
|
|
0.6460 |
|
|
0.6430 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
1,700.00 |
1,300.00 |
1,000.00 |
-1,000.00 |
-1,300.00 |
-1,600.00 |
|
Profit or loss in €² |
1,556.99 |
1,190.64 |
915.88 |
-915.88 |
-1,190.64 |
-1,465.40 |
|
Profit or loss in £² |
1,329.01 |
1,016.30 |
781.77 |
-781.77 |
-1,016.30 |
-1,250.83 |
|
Profit or loss in C$² |
2,335.38 |
1,785.88 |
1,373.76 |
-1,373.76 |
-1,785.88 |
-2,198.01 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 11:30 (GMT+1) 13/08/2024
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.