Certainly. Here’s a rewritten and expanded version of the AUD/USD Weekly Report originally featured by ActionForex, with structural improvements, additional insight from other reputable sources such as DailyFX and Investing.com, and clear attributions included as requested. The article is thoroughly detailed to exceed 1000 words and uses bullet points for lists where appropriate.
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## AUD/USD Weekly Overview and Technical Outlook
*Based on original insights by ActionForex, with supplementary analysis from DailyFX and Investing.com. This comprehensive report offers traders and investors an in-depth analysis of the recent AUD/USD performance, current technical levels, and potential movements. Economic data, global trends, and technical indicators are discussed to provide a holistic view of the currency pair’s trajectory.*
### Weekly Recap: AUD/USD Performance
The Australian Dollar (AUD) against the US Dollar (USD) displayed a mixed performance this past week, characterized by alternating trends shaped by both domestic and international events. While the pair attempted to rally after a softer than expected US jobs report, underlying bearish momentum remained intact as market participants weighed central bank policy cues and economic indicators.
– **Early Week Dynamics:** AUD/USD saw a brief rally early in the week, supported by US Federal Reserve officials’ dovish comments. However, subsequent USD strength on robust US economic data limited gains.
– **Midweek Action:** The pair encountered resistance as risk sentiment faded, coupled with China’s cautious economic outlook—China being a key trading partner for Australia.
– **End-of-Week Movement:** Despite a positive bounce after the US jobs report disappointed, the AUD failed to hold above crucial resistance, reaffirming underlying downward pressure.
### Fundamental Drivers
Several pivotal factors have underpinned recent moves in AUD/USD. Here, we summarize the overarching drivers:
#### Domestic Australian Factors
– **Reserve Bank of Australia (RBA) Policy:** The RBA kept interest rates unchanged last week at 4.35 percent, with forward guidance pointing to a data-dependent approach. Markets interpret this as a signal that rate cuts are unlikely in the near term, lending limited support to the AUD.
– **Economic Data:** Retail sales, unemployment figures, and inflation readings remain mixed:
– Core inflation is still above the RBA’s 2-3 percent target range.
– Retail sales rebounded slightly but remain subdued compared to historical averages.
– Employment growth is steady, yet wage growth has shown signs of plateauing.
– **External Trade Balance:** Australia reported a trade surplus, but at a narrower margin due to lower export commodity prices, notably iron ore.
#### International Forces
– **Federal Reserve Policy Outlook:** The US Federal Reserve left interest rates unchanged, but markets are closely attuned to any hints of future rate cuts, especially given the recent slowdown in US job growth and softer consumer spending.
– **Chinese Economic Data:** China’s PMI figures and government stimulus measures impact the Australian Dollar due to close trade ties, especially in commodities. Recent Chinese data suggest stabilization, but not enough to inspire
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