AUD USD: Weekly Review 25 February to 1 March 2019

AUD was bullish until Australian Bureau of Statistics release quarter to quarter Construction Work Done. Though it was slightly better than previous quarter (3.6 percent) much lower than expected value of 0.6 percent. The value is still better but way slipped than expected, the announcement start the bearish route. A 3.1 percent is much lower than expectations of economists as well as traders.

From that point all the way till market close total bearish. The Aussie supportive reasons like, formal suspension of the planned tariff increase on Chinese goods 'Until Further Notice' [decision by President Donald Trump to temporarily delay his Friday deadline] and Britons 'no deal' Brexit scenario announced by Prime Minister May have started losing its strength.

As AUD on bearish mostly against all major currencies on second half of the trading week, even a better Australian Performance of Manufacturing Index (PMI) recovery - 54.0 points - cold not enough turn the currency to bullish.

AUD never recovered after unhealthy construction index.

Open (on Monday, 25 Feb 2019) 0.71252
High (on Wednesday, 27 Feb 2019) 0.71988
Low (on Friday, 1 Mar 2019) 0.70698
Close (on Friday, 1 Mar 2019) 0.70800

AUD USD: Weekly Review 11 to 15 February 2019

A quit week after opening at $0.70880 draw a green bar, by a little support from positive Aussie economic data, to close at $0.71400, a relatively small increase of $0.00520.

Though on Monday AUD start on risk sentiment, with doubt on risks related to US China trade wars, registered a loss of $0.00263.

AUD USD Weekly Review for the week February 11 to 15 2019

With all the pairs AUD performed well except New Zealand dollar thanks to dovish than expected Monetary Policy Statement on Wednesday.

On Thursday and Friday, AUD rallied steadily higher, after Westpac Consumer Sentiment Index 4.3% against January's -4.7%.

AUDUSD: Aussie Intraday Forecast 08 February 2019

Traders are in selling mood, the RBA (Reserve Bank of Australia) also released a much dovish SoMP (Statement of Monetary Policy) keep the Australian dollar in bearish mood.

RBA in a statement, revised downwardly its growth forecast for GDP substantially. In GDP forecast, RBA now projects 2.8 percent year to year for December 2018, 3.0 percent for December 2019, lesser 2.7 for December 2020 and same for December 2021.

Australian policy makers said the prospect of a rate hike or rate cut is more evenly balanced than previously thought. They also do not see any strong case to change rates in near future.

Australian Statement of Monetary Policy February 2019

As of 05:00 UTC the AUD trading at 0.7074 ~ 0.7075. As there no more events or news that can affect economy or traders mind, 0.70 may turn to be a support.

AUDUSD Strong selling mood of traders reflect in strong bearish movement.

The price may go up until 0.71xxx or go below 0.70xxx
The intraday forecast for AUDUSD:
Today opened at 0.71022, touched High of 0.71052, went Low to 0.70606

Right now struggling at 0.7.07 even though the traders are slowly changing mood from selling to buying. But being last day of the week, we cannot expect much change.

XAUUSD: Gold poised for deeper correction

Precious yellow metal poised for deeper correction, before stabilize to $1320.00
On Wednesday it closed on $1306.30 and now hovering at $1307~1308
Expected range today is 1303 ~ 1310
If GOLD raise to 1310 new support will be formed or new resistance will be formed around 1303.

XAUUSD hourly chart on 07 February 2019