The AUD/USD pair moves within a long-term downward trend. In August and September, the price tested the local minimum at 0.6685 several times but, failing to consolidate below it, reversed and went upwards. Over the past few months, a wide rising channel has been forming.
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The USD/CHF pair consolidates within a narrow range, waiting for USD volatility. There are no noticeable changes in the Swiss currency, and macroeconomic indicators continue to follow the experts’ expectations: for example, the unemployment rate has remained around 2.3%, as in the previous reporting period.
NZD is showing moderate growth against USD during today’s Asian session, recovering from a decline earlier this week. At the moment, the growth of the instrument is about 0.14%, and NZD itself is again approaching local highs of this August at around 0.6575.
USD increases slightly against JPY during today’s Asian session, adding about 0.03%. Investors are in no hurry to open new trading positions before the Fed and the ECB hold meetings during the week, and JPY, in turn, is stable against the backdrop of market uncertainty.
Despite stability in monetary policy, Canada’s statistic is negative. Thus, the unemployment rate rose immediately by 0.4% to 5.9% against 5.5% in the previous period. The indicator of building permits fell by –1.5% against the forecast of +2.9%.
The NZD/USD pair continues to trade near 5-month highs.
The GBP/USD pair continues to strengthen. In late December, after sideways consolidation, the price broke a local maximum at 1.3010 and went higher. Having passed the key resistance level, the instrument was supported by the growth of demand for the British pound.
The main driver that determined the direction of the movement of the pair for this and the next week was the statement by the board member of the Bank of Japan Yutaka Harada. Investors were alarmed by the statement that the regulator would not take additional steps to the plan to stimulate the economy and increase the rate of quantitative easing. The stimulating plan provides for an injection of 26 trillion yen, including fiscal expenses of 13.2 trillion yen.
EUR is stable (–0.03%) against USD on Monday, consolidating after a sharp decline last Friday. EUR showed an active decline on Friday, retreating from its local highs and the level of 1.1115, after the publication of a strong report on the US labor market, which in many respects exceeded expectations.
AUD is trading near the opening level (0.6829) against USD during today's Asian session. Investors are in no hurry to open new trading positions, preferring to wait for new drivers to appear at the market. Monday's macroeconomic background is rather scarce, but on Tuesday there will be a lot of interesting statistics from Australia and China.