Post by Instantia.co

AUD/USD Update: AUD Pressured As US To Blockade Hormuz The Aussie Dollar is pressured in early dealing on Monday as risk sentiment deteriorated after US President Trump said that the US will blockade all maritime traffic transiting the Straits of Hormuz which have entered and left Iranian ports. The US will aim to ensure freedom of navigation for ships that aren't carrying Iranian goods. ▪️AUD/USD fell as much as 1% this morning amid thin liquidity with support coming in at the 20-Day EMA ($0.6992). At typing the pair is ~0.6% below Fridays closing levels. ▪️The 50-Day EMA crosses at $0.6973 and the 200-Day EMA currently sits at $0.6758; the measure was last crossed in late November. On the topside the $0.72 handle remains firmly intact. ▪️WTI is well supported this morning sitting up ~8% and is currently dealing above the $100/barrel handle. The Bloomberg Dollar Index is up ~0.4% and Global Equities are pressured across the board. ▪️The highlight of the local docket is the March Employment Report which crosses on Thursday, a slowdown in headline jobs growth is expected with the U/E Rate forecast to hold steady at 4.3%. #marketupdate #AUD #USD #rate #forescast #dollar