Market News and Charts for August 14, 2020

AUD/JPY

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Analysts were anticipating a 1.9% development for the US Retails Sales report today, August 14. Expectations were at 16.4% for June compared to 10.7% development in May. The US central bank has likewise an interest rate cut of 0.25%. Aside from this, the unemployment rate was still going up with the most recent figure taped at 7.5%. On the other hand, the Reserve Bank of Australia (RBA) began preparing its next set of quantitative easing after it held its benchmark interest rate of 0.25%

The pair will stop working to break out from a significant resistance line, sending out the set lower towards a key assistance line. Regardless of the expectations of U-shaped recovery for Australia, investors are still unimpressed with the recent reports from the country. On Wednesday, August 12, Australia published reports for its labor market. Employment change included 114.7 K tasks for the month of July, which is comparatively greater from the 40.0 K price quotes. Nevertheless, this figure is still nearly 50% lower than the figure from June. Aside from this, the unemployment rate was still going up with the most current figure tape-recorded at 7.5%. The increasing unemployment might thwart its economic healing from the pandemic. On the other hand, the increasing foreign financial investment on the 3rd largest economy worldwide provided financiers self-confidence. Japanese stocks and bonds purchased by foreigners both went up for the week. Figures were $233.8 billion and $1,434.9 billion, respectively.

Hey traders! Below are the current forex chart updates for Fridays sessions. Gain from the provided analysis and use the advised positions to your next relocation. Great day and Good Luck!

NZD/USD

USD/CAD

The United States Initial Jobless Claims report saw a 936K figure in yesterdays report, August 13. This is higher than the 40.0 K expectations, the figure was still 50% lower than Junes record of 210.0 K. However, the United States dollar will flourish versus the Australian dollar. On the other hand, the Reserve Bank of Australia (RBA) began preparing its next set of quantitative easing after it held its benchmark interest rate of 0.25%

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Experts were expecting a 1.9% development for the US Retails Sales report today, August 14. Expectations were at 16.4% for June compared to 10.7% development in May. Canada added 419K jobs in July, which represents 55% of the lost jobs due to the pandemic.

The pair will bounce back from its support line, sending the set higher to retest its previous high. The RBNZ already cut its interest rate to record low at 0.25% and only QE is the only alternative for the central bank. The US main bank has also an interest rate cut of 0.25%.

AUD/USD