4th January 2021 - AUD/USD continues to push higher above 0.7700 into the new year

Updated: Feb 3


Good Morning,


Market Headlines

A late bounce on Wall St saw it close the last day of 2020 in the black with the Dow and S&P up around 0.7% while the Nasdaq closed only marginally higher. US weekly jobless claims data was better than expected with initial claims falling to 787k to beat expectations of 835k while continuing claims fell to 5.219 mio to beat expectations of 5.390 mio. Commodities, Crude +0.1%, Copper -0.1%, Iron ore +1.1% Gold $1899/oz.


Currency

AUD/USD: 0.7690 – 0.7743

EUR/USD: 1.2210 – 1.2304

GBP/USD: 1.3527 – 1.3686

USD/JPY: 103.00 – 103.31

USD/CAD: 1.2714 – 1.2769

NZD/USD: 0.7183 – 0.7241

AUD/JPY: 79.29 – 79.78

AUD/NZD: 1.0669 –1.0721


AUD Thoughts

AUD however remaining buoyant into year-end after managing 0.7743 highs (and closing the year at 0.7700 ). US data releases likely to be the focus this week with US Payrolls data being the highlight on Friday, markets will also keeping an eye on the political wrangling over the approval and size of government Covid-relief payments to the public.


Look for bids to have accordingly been raised to the 0.7640/60 area, expectation is that further offers will be building from the last week high of 0.7740.


Event Risk Data Today

ES, IT, FR, DE, UK & EU – December Manufacturing PMI

US – December Markit Manufacturing PMI

US – November Construction Spending

ACN: 615 699 888 | AFSL : 502711

Copyright © Navigate Global Payments All rights reserved.