27th August 2020 - AUD/USD eyes Jackson Hole Symposium to seesaw beyond 0.7200


Good Morning,

Market Headlines

Sentiment remained positive overnight, NASDAQ gaining 1.6% and the S&P500 up 1.0% higher to a fresh record high. Commodities saw Brent oil futures fell 0.5% to $45.65, copper rose 1.1%, iron ore rose 2.1% to $123.90, and gold rose 1.2%.

Currencies

AUD/USD: 0.7188 – 0.7239

EUR/USD: 1.1773 – 1.1839

GBP/USD: 1.3118 – 1.3219

USD/JPY: 105.97 – 106.46

USD/CAD: 1.3132– 1.3205

NZD/USD: 0.6544 – 0.6619

AUD/JPY: 76.39 – 76.75

AUD/NZD: 1.0935 – 1.0988

AUD Thoughts

- AUD/USD bulls are testing weekly resistance as the Australian and global economic recovery remains on track.

- The bearish best against the US dollar continues to mount as we head into the Jackson Hole.

AUD/USD is currently trading at 0.7235 and higher by 0.59% on the day having travelled between a low of 0.7187 and a high of 0.7239.

Event Risk Data Today

AU – Q2 CAPEX

CN – July industrial profits

US – Weekly jobless claims

US – Q2 GDP (second reading)

US – July pending home sales

US – Fed’s Powell gives speech from Jackson Hole

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