Nixse
0

Market News and Charts for September 27, 2021

Hey traders! Below are the latest forex chart updates for Monday’s sessions. Learn from the provided analysis and apply the recommended positions to your next move. Good day and Good Luck!

AUD/JPY

The pair will continue its downward movement in the coming days. The economic data from Japan shows a slowdown in the world’s third-largest economy following the Tokyo Olympics. The September Manufacturing PMI slipped 1.5 points to 51.2 points. As for the Services PMI, the report advanced by 4.5 points to 47.4 points. However, the number posted is below the 50.0 points expansionary level. Meanwhile, the official record shows the consumer price index at -0.2%. The annualized figure is worse with a -0.4% plunge. The previous records were 0.2% and -0.3%. As a result, FM Taro Aso asked for joint cooperation between the government and the central bank. The comment came a day before Governor Haruhiko Kuroda became the longest-serving governor of the central bank. Under Kuroda’s leadership. Japan embraced an ultra-low monetary policy. The rate fell into negative in 2016, while the asset purchases are four times higher than the 2013 level. FinanceBrokerage - Market News: AUD/JPY Chart

AUD/USD

The pair will retest an 11-month low around the psychological 0.70000. The US published results that disappointed investors. The number of individuals who filed for unemployment benefits rose by 351,000 in the reported week. The figure is the second consecutive increase from a pandemic low of 310,000. Meanwhile, the Continuing Jobless Claims is at 2.8 million. On the same day, the PMI showed a continued slowdown in September. Earlier in the month, the Federal Reserve said that the economic growth from July and August is lower than expectations. The preliminary PMI failed to beat previous records of 61.1 points and 55.1 points for the manufacturing and services sectors. Analysts expect an increase for the month to 61.5 points and 55.0 points. Despite the negative results, the US dollar will continue to outperform its Australian counterpart. The reason is Powell’s announcement that it would begin to taper bonds by November and raise rates by 2022. FinanceBrokerage - Market News: AUD/USD Chart

AUD/CAD

The pair will extend the sell-off towards 0.89000. Justin Trudeau will lead Canada as the country’s prime minister for the 44th Parliament. The re-election came on Monday, September 27, after votes on Sunday election were tallied. The Liberal Party secured 157 seats against the Conservative’s 121 seats. However, the party’s control fell short of the 170 seats needed to gain the majority. As a result, the prime minister will govern a minority government. The win by the Liberals suggests an attempt to pass an additional 78.00 billion Canadian dollar in spending until 2027. The proposal is on top of an earlier stimulus passed amounting to 101.00 billion CAD in the next three years. The 4.0% GDP expenditure increases fears over rising inflation. As a result, the Bank of Canada would be pressured to raise interest at a faster pace. The BOC began to unwind bond purchases on July 14. The current weekly purchases amount to 2.00 billion CAD, down from 3.00 billion CAD. FinanceBrokerage - Market News: AUD/CAD Chart

AUD/CHF

The pair will break out from a downtrend channel in the coming sessions. Switzerland remains to have the lowest interest rate in the world with -0.75%. The Swiss National Bank (SNB) defied the market’s call to join the other central bank’s interest rate hike. Meanwhile, some analysts expect the central bank’s decision amid tight spending in the country. The Swiss government allotted 5 francs per citizen compared to Britain’s 8 francs or America’s 15 francs. On the other hand, the retail sales data from Australia fell by -1.7% based on the August preliminary report. The number is lower against estimates of a -2.5% decline. Meanwhile, July’s actual result came at -2.7%. The result is the weakest in four months. In other news, the repercussion of the AUKUS trilateral deal between Australia, the United Kingdom, and the United States is starting to bite Australia. French Trade Minister Franck Riester refused to meet his Australian equivalent in protest of the alliance. FinanceBrokerage - Market News: AUD/CHF Chart



You might also like
Leave A Reply

Your email address will not be published.