AUD - BEARISH
1️⃣ The RBA struck an overall cautious tone with the dominant focus for the central bank remaining on the coronavirus outbreak - the greatest risk to Australia's economic outlook.
2️⃣ RBA forecasts a 6% drop in GDP over 2020, and given the country's spare capacity, the RBA expects inflation to undershoot its 2-3% target for the next two years.
3️⃣ Melbourne - Australia's second-largest city - will enter a six-week lockdown with retail, some manufacturing and administrative businesses all closing.
USD - BULLISH
1️⃣ Safe-haven demand was supported by a resurgence in coronavirus infections and geopolitical tensions between the US and China.
2️⃣ July U.S. ISM manufacturing highest since March 2019.
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Technical
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📊 We shorting AUDUSD on SBR level + SMA50 area.
📊 AUDUSD in bearish zone.
1️⃣ The RBA struck an overall cautious tone with the dominant focus for the central bank remaining on the coronavirus outbreak - the greatest risk to Australia's economic outlook.
2️⃣ RBA forecasts a 6% drop in GDP over 2020, and given the country's spare capacity, the RBA expects inflation to undershoot its 2-3% target for the next two years.
3️⃣ Melbourne - Australia's second-largest city - will enter a six-week lockdown with retail, some manufacturing and administrative businesses all closing.
USD - BULLISH
1️⃣ Safe-haven demand was supported by a resurgence in coronavirus infections and geopolitical tensions between the US and China.
2️⃣ July U.S. ISM manufacturing highest since March 2019.
=====
Technical
=====
📊 We shorting AUDUSD on SBR level + SMA50 area.
📊 AUDUSD in bearish zone.