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Trending
SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6870.39
6870.39
6870.39
6895.79
6858.28
+13.27
+ 0.19%
--
DJI
Dow Jones Industrial Average
47954.98
47954.98
47954.98
48133.54
47871.51
+104.05
+ 0.22%
--
IXIC
NASDAQ Composite Index
23578.12
23578.12
23578.12
23680.03
23506.00
+72.99
+ 0.31%
--
USDX
US Dollar Index
98.800
98.880
98.800
98.960
98.730
-0.150
-0.15%
--
EURUSD
Euro / US Dollar
1.16628
1.16636
1.16628
1.16717
1.16341
+0.00202
+ 0.17%
--
GBPUSD
Pound Sterling / US Dollar
1.33335
1.33345
1.33335
1.33462
1.33151
+0.00023
+ 0.02%
--
XAUUSD
Gold / US Dollar
4215.61
4215.95
4215.61
4218.85
4190.61
+17.70
+ 0.42%
--
WTI
Light Sweet Crude Oil
59.988
60.025
59.988
60.063
59.752
+0.179
+ 0.30%
--
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How Will SNB's Interest Rate Decision Impact AUD/CHF?
Summary:
The Australian dollar (AUD) has recently surged, hitting a three-week high against the US dollar (USD). This upward momentum comes in response to key developments in both China and Australia, indicating the complex dynamics influencing the AUD's value...
CLOSED
0.58000
Entry Price
0.59000
TP
0.57600
SL
0.53363 -0.00044 -0.08%
50.1
Pips
Profit
0.57600
SL
0.58501
Exit Price
0.58000
Entry Price
0.59000
TP
China's Stability Boosts AUD
The PBOC's decision to leave lending rates unchanged in September carries significant implications. It is regarded as a vote of confidence in China's economic recovery. Recent economic indicators from China, including impressive retail sales and industrial production figures, have surpassed market expectations. These positive signs have bolstered confidence in the Chinese economy, lifting the AUD, which has strong ties to China due to their extensive trade relationship. This alignment of interests has contributed to the AUD's recent strength.
RBA's Concerns and Inflation Focus
Despite the AUD's gains, the RBA has expressed apprehensions about the Australian economy. Weak domestic demand and the potential economic impact of China's slowdown have been on the RBA's radar. However, the central bank remains resolute in its commitment to address high inflation, which is currently hovering at 6%. While the RBA anticipates a gradual decline in inflation, it does not foresee a return to the target range of 2%-3% until late 2025. This dual focus on inflation and economic stability underscores the challenges the RBA faces in steering the Australian economy.
Technical Analysis
Turning to technical analysis, the AUD/CHF pair is under scrutiny, with expectations of a continuation of the recent retracement, possibly down to the 0.5900 support level. The analysis also maintains a bearish outlook on this pair, with the anticipation of a reversal in the near future. The AUD's strength is noted as China reawakens, with a particular focus on an upcoming interest rate decision by the Swiss National Bank (SNB). This development is expected to have a substantial impact on currency markets. While the AUD's recent gains are acknowledged, it is seen as a pair with significant potential for trading opportunities once a confirmed reversal occurs.TRADE RECOMMEDNATION
BUY AUDCHF
ENTRY PRICE : 0.5800
STOP LOSS : 0.5760
TAKE PROFIT : 0.5900
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