Australian Dollar, AUD / USD, Covid, NZ Business PMI, Chinese Foreign Direct Investment - Talks
- Australian dollar falls against US dollar as Canberra enters emergency block
- This Friday, China's foreign direct investment (ODD) may cross the line
- The AUD / USD is likely to prolong the post-Soviet collapse
Prospects for the Asia-Pacific region on Friday
The exchange rate of the Australian dollar is declining against its core value peers: Friday at the Asia-Pacific trade session. Investors: After Australia on Thursday began to hit the sell button Aussie Dollar capital: The city of Canberra quickly began to blockade. The weakness accelerated overnight as American traders absorbed the news. The new blockade will affect almost 400,000 people. This adds to the latest blockchain as Sydney enters its seventh week of restrictions.
Elsewhere, the Wall Street exchange rate has risen after the weekly unemployment claims fell from 387,000 to 375,000 for the week ending August 7. The Dow Jones Industrial Average (DJIA) rose to a new record high, despite only 0.04% daily growth. Better-than-expected earnings have also led to higher equity in recent weeks. Walt Disney Co. announced a strong quarter in its upper and lower lines after the closing call on Thursday.
BusinessNZ released the July Manufacturing Index (PMI) for New Zealand this morning62.6 against the June 60.7 reading. This week New landland անդland doubled its zero Covid policy. Prime Minister Jac Asinda Ardern said. "We are simply not in a state of full reopening yet." That said, strict control of the island nation is likely to remain in place until next year. Whether or not this is likely to hurt trade - and, of course, tourism - will also make New landland անդland more easily control the spread of any outbreaks, which could have a positive effect on its domestic economy.
According to Bloomberg, China will release data on foreign direct investment (ODD) in July, which may be released today, although the release of the data may be delayed until August 18. Foreign investment inflows to China have slowed in the past three months, with the annual change in June falling to 28.7%. However, in absolute terms, China's ODNs remain much higher this year than ever before, as economic strength continues to fluctuate to attract foreign investment. Given Australia's trade relations with China, the Australian dollar may provide some basis if the ODN accelerates in July.
AUD / USD technical perspective.
The Australian dollar slowed down after failing to recover from the previous level of support from the example of Rising Wedge. The MACD is also turning lower, crossing below its signal line - the bear sign. It can be seen that the AUD / USD will continue to decline, perhaps to the level of 0.7286, where the wedge egg came from.
AUD / USD daily chart
Drawn with chart TradingView:
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