Post by Instantia.co

AUD/USD Update: Deals In Narrow Range Around $0.69, NFP Due Tonight AUD/USD continues to deal in a narrow range, seesawing around the $0.69 handle with little follow through on moves. In recent sessions, a $0.6870/0.6915 range has persisted for the most part. Perhaps the proximity of this evenings NFP print and Fridays US holiday has limited activity as the Northern Hemisphere summer holiday period looms. ▪️The focus in FX yesterday was Fed Chair Warshs remarks at the Sintra conference. Warsh reiterated comments he made at his post-FOMC press conference; inflation is now the focus for the Fed and no forward guidance was given. ▪️There was a brief offer in the Greenback as Warsh noted inflationary pressures had eased in recent weeks however, this move was faded through the NY session as tech stocks were pressured. The SOX Index fell 6.3% in a negative lead for risk sentiment in Asia today. ▪️From a technical perspective, AUD/USD is struggling to clear the 200-Day EMA ($0.6907) in either direction. Bears look to breach the March 2026 low ($0.6832) to target $0.68 and $0.66. Bulls target the 20- and 50-day EMAs which intersect at $0.6976 and $0.7039, respectively. ▪️Cross assets; the aforementioned fall in semiconductor stocks weighed on sentiment, the S&P500 fell 0.2% and the NASDAQ fell 1.5%. US Treasury Yields ticked lower and the Greenback ticked higher. After printing a 40-year low the Yen trimmed losses. ▪️At this evening's NFP print, headline jobs growth is expected at 113k, a reminder that the prior read beat all expectations, printing at 172k. The Unemployment Rate is expected to hold steady at 4.3%. #marketupdate #USD #AUD #NFP #US #FX