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May 18 - 11:55 PM

AUD/USD - Risk Sours - WPI Just Above Forecasts, Little Impact

By Andrew M Spencer  —  May 18 - 09:39 PM

  • -0.1% as risk sours - stocks under pressure, ASX 200 -1.7%, Nikkei -1%

  • Consumer confidence slipped, but remains at elevated levels nS9N2KV028

  • Wage price index q/q +0.6% poll +0.5%, y/y +1.5% poll 1.4%

  • Data had little impact - too close to expectations to generate volatility

  • Charts, momentum studies, 5, 10 & 21 daily moving averages rise

  • Setup has turned from neutral to modest positive, though mid range

  • Further consolidation likely - 0.7670-0.7890 broad range contains

  • NY 0.7778-0.7809 range is initial support and resistance

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aud 2may 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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