- The Aussie dollar slides downward disappointing retail sales in Australia
- Strong employment offers in the US and manufacturing activity have given some support to the US dollar.
- AB/USD is forming a possible “afternoon star” pattern, a bearish figure.
The Aussie dollar was limited on Tuesday at a maximum of the year about 0.6600 and is quoting downward on Wednesday, since the retail sales and construction of Mayo Australia disappointed.
The US dollar, on the other hand, is cutting some losses, favored by the optimistic employment and manufacturing data of the USA. Published on Tuesday.
Also on Tuesday, Powell reiterated that the bank should continue waiting for the probable inflationary impact of Trump’s tariffs before cutting interest rates and left the market waiting for more employment figures in the US. UU. This week, to assess the possibilities of future rate cuts.
Technical analysis: potential pattern of “afternoon star”
From a technical perspective, Wednesday’s negative candle in the daily chart is on the way to complete a “afternoon star” pattern, a common signal of trend changes, which could confirm a deeper correction.
A rupture below the minimum on Tuesday, which is also the maximum of mid -June, in the area of ​​0.6550 would confirm the aforementioned pattern and would bring the minimum of June 25 again and the fibonacci setback of 38.6% of the rally from the minimum of June 20.
On the positive side, the immediate resistance is at the maximum of Tuesday, in the area of ​​0.6590, and then probably the Fibonacci extension of 161.8% of the June 23-24, at 0.6610.
Economic indicator
CONSTRUCTION PERMIT (MOM)
The Australian Statistics Office Publish this fact that shows the number of permits for new construction projects. These permits imply the movement of corporate investments while promoting the economic growth of Australia. It usually causes mild volatility over the Australian dollar. A result superior to the market consensus is up to the Australian dollar, while a lower reading is bassist.
Read more.
Last publication: LOI Jul 02, 2025 01:30
Frequency: Monthly
Current: 3.2%
Dear: 4.8%
Previous: -5.7%
Fountain: Australian Bureau of Statistics
Economic indicator
Retail sales (MOM)
This survey of goods sold by retail merchants publishing the Australian Bureau of Statistics It is based on a sample of retail stores of different types and is considered an indicator of the economy growth rate. It shows the performance of the retail sector in the short and medium term. A result superior to the market consensus is bullish for the Australian dollar, while a lower result is bassist.
Read more.
Last publication: LOI Jul 02, 2025 01:30
Frequency: Monthly
Current: 0.2%
Dear: 0.4%
Previous: -0.1%
Fountain: Australian Bureau of Statistics
The main indicator of consumers of Australia, retail sales, is published by the Australian Statistics Office (ABS) about 35 days after the end of the month. It represents approximately 80% of the total retail turnover in the country and, therefore, has a significant influence on inflation and GDP. This advanced indicator has a direct correlation with inflation and growth prospects, which influences the decision on interest rates and the assessment of the Aud of the Bank of the Reserve of Australia (RBA). The statistics office uses the advanced factor method, which guarantees that seasonal factors are not distorted by the impacts of COVID-19.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
