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AUDUSD recovers from multi-year low helped by NAFTA optimism




The Aussie recovered from a low of 0.7085 to a high 0.7125 in Australian early morning trade due mainly to renewed optimism over US and Canadian trade negotiations, which helped the Canadian dollar to surge higher, pulling up commodity-linked currencies along with it.

However, AUDUSD traders are still wary of the trade war situation between the U.S. and China, as the Aussie is seen to be the proxy to the Chinese Yuan. The U.S. has yet to decide on the timing of the implementation of tariffs on US$200 billion worth of Chinese imports and this impending action has certainly weighed on the AUDUSD in recent days.

Technically, immediate support for the AUDUSD is seen at the 0.7055 level but if the Aussie breaches that, it will see support at 0.7010.

Should the AUDUSD find any strength to move up, it will see some resistance at the previous support of 0.7145 and surpassing that, it will meet its next resistance at the 0.7195 level.

By Jin Rin Yau
Jin is one of IFM Trade’s senior Account Managers and Market Expert. You can reach him Monday to Friday directly on +61 291 907 556 or via email on jinrin.y@ifmtrade.com

IFM Trade is a registered business name of Intelligent Financial Markets Pty Ltd (IFM Trade). IFM Trade (ACN 155 185 014) is authorised and regulated by the Australian Securities & Investments Commission (ASIC) AFSL number 3426359. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial asset. IFM Trade is not a financial adviser and all services are provided on an execution only basis. IFM Trade is authorised to provide general advice only and information is of a general nature only and does not take into account your financial objectives, personal circumstances. IFM Trade recommends that you seek independent personal financial advice. A Product Disclosure Statement (PDS) for our financial products and our Financial Services Guide (FSG) are available at www.IFMTrade.com or can be obtained free of charge by calling IFM Trade on 1300 735 125 (+61 3 9021 0420). The PDS and FSG are important documents and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s financial products or services. Warning: CFD trading both carry a high level of risk to your capital with the possibility of losing more than your initial investment. These products may not be suitable for all investors and are not available to individuals under the age of 18. Please ensure that you are fully aware of the risks involved and refer to our Risk Warning. If necessary, seek independent financial advice. The Customer Agreement and Execution Policy are available at www.IFMTrade.com and are important and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s products.

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GBPUSD falls as chief EU negotiator rejects UK’s key post Brexit proposal




The cable shot up over 120 points to a peak of 1.3052, its highest level in 6 weeks, when EU chief negotiator Michel Barnier commented on Monday that there is real scope for a Brexit deal to be achieved in the next 6 -8 weeks.

Some analysts however, are remaining cautious as the announcement is vague and does not contain any details on points agreed upon by the negotiating parties. Nevertheless, the announcement did provide the British Pound a shot in the arm, and may serve as a turning point after weeks of flagging.

Technically, on the upside, if GBPUSD is able to ride on this optimism it may meet resistance 1.3050, and if it manages to overcome this, the next hurdles will be at the 1.3100 and 1.3145 levels.



On the downside, if GBPUSD breaches the support level of 1.2985, further weakness will bring it to its next support levels at 1.2935 and 1.2890 thereafter.

By Jin Rin Yau
Jin is one of IFM Trade’s senior Account Managers and Market Expert. You can reach him Monday to Friday directly on +61 291 907 556 or via email on jinrin.y@ifmtrade.com

IFM Trade is a registered business name of Intelligent Financial Markets Pty Ltd (IFM Trade). IFM Trade (ACN 155 185 014) is authorised and regulated by the Australian Securities & Investments Commission (ASIC) AFSL number 3426359. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial asset. IFM Trade is not a financial adviser and all services are provided on an execution only basis. IFM Trade is authorised to provide general advice only and information is of a general nature only and does not take into account your financial objectives, personal circumstances. IFM Trade recommends that you seek independent personal financial advice. A Product Disclosure Statement (PDS) for our financial products and our Financial Services Guide (FSG) are available at www.IFMTrade.com or can be obtained free of charge by calling IFM Trade on 1300 735 125 (+61 3 9021 0420). The PDS and FSG are important documents and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s financial products or services. Warning: CFD trading both carry a high level of risk to your capital with the possibility of losing more than your initial investment. These products may not be suitable for all investors and are not available to individuals under the age of 18. Please ensure that you are fully aware of the risks involved and refer to our Risk Warning. If necessary, seek independent financial advice. The Customer Agreement and Execution Policy are available at www.IFMTrade.com and are important and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s products.

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AUDUSD has lost more ground as the USD is buoyed by latest NFP data




The Aussie took a beating again last Friday as US non-farm payrolls data for August confirmed average hourly earnings (which has some impact on inflation) rose by 0.4% translating to a change in the year of 2.9%, which is up from 0.3% and 2.7% respectively in July.

Analysts are looking at this figure very closely as it is considered one of the key figures used by the US Federal reserve in determining interest rates. As wage growth is a leading indicator for inflation, the expectation is for inflation to pick up and the Fed to potentially steepen its path of tightening. Hence, the USD has become the flavour of the day again.

Analysts expect the AUDUSD to continue to be under pressure in the immediate term as the US contemplates on the timing (if at all) of the implementation of proposed tariffs on $US200 billion worth of Chinese imports entering the country.

Technically, immediate support for the AUDUSD is seen at the 0.7095 level but if the Aussie breaches that, it will see support at 0.7065.

Should the AUDUSD find any strength to move up, it will see some resistance at the previous support of 0.7145 and surpassing that, it will meet its next resistance at the 0.7185 level.

By Jin Rin Yau
Jin is one of IFM Trade’s senior Account Managers and Market Expert. You can reach him Monday to Friday directly on +61 291 907 556 or via email on jinrin.y@ifmtrade.com

IFM Trade is a registered business name of Intelligent Financial Markets Pty Ltd (IFM Trade). IFM Trade (ACN 155 185 014) is authorised and regulated by the Australian Securities & Investments Commission (ASIC) AFSL number 3426359. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial asset. IFM Trade is not a financial adviser and all services are provided on an execution only basis. IFM Trade is authorised to provide general advice only and information is of a general nature only and does not take into account your financial objectives, personal circumstances. IFM Trade recommends that you seek independent personal financial advice. A Product Disclosure Statement (PDS) for our financial products and our Financial Services Guide (FSG) are available at www.IFMTrade.com or can be obtained free of charge by calling IFM Trade on 1300 735 125 (+61 3 9021 0420). The PDS and FSG are important documents and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s financial products or services. Warning: CFD trading both carry a high level of risk to your capital with the possibility of losing more than your initial investment. These products may not be suitable for all investors and are not available to individuals under the age of 18. Please ensure that you are fully aware of the risks involved and refer to our Risk Warning. If necessary, seek independent financial advice. The Customer Agreement and Execution Policy are available at www.IFMTrade.com and are important and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s products.

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AUDUSD is drifting lower ahead of US NFP data release




The AUDUSD has lost its grip on the 0.7200 handle as it awaits US non-farm payrolls data for August which is due out tonight at 10.30 PM AEST.

Analysts are expecting US jobs to increase by 198,000 which will cause the unemployment rate to fall to 3.8% from 3.9% in July. Average hourly earnings (which has some impact on inflation) are expected to rise by 0.2% translating to a change in the year of 2.7%, the same level reported in July. Analysts are looking at this figure very closely as it is considered one of the key figures used by the US Federal reserve in determining interest rates.

Another event that may impact the AUDUSD today will be that the period of public consultation on proposed tariffs on $US200 billion worth of Chinese imports entering the United States has now come to an end, and the US may be implementing this measure as soon as today.

Technically, immediate support for the AUDUSD is seen at the 0.7165 level (which was tested yesterday) but if the Aussie breaches that, it will see support at 0.7130.

Should the AUDUSD find any strength to move up, it will see some resistance at the previous support of 0.7225 and surpassing that, it will meet its next resistance at the 0.7260 level.

By Jin Rin Yau
Jin is one of IFM Trade’s senior Account Managers and Market Expert. You can reach him Monday to Friday directly on +61 291 907 556 or via email on jinrin.y@ifmtrade.com

IFM Trade is a registered business name of Intelligent Financial Markets Pty Ltd (IFM Trade). IFM Trade (ACN 155 185 014) is authorised and regulated by the Australian Securities & Investments Commission (ASIC) AFSL number 3426359. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial asset. IFM Trade is not a financial adviser and all services are provided on an execution only basis. IFM Trade is authorised to provide general advice only and information is of a general nature only and does not take into account your financial objectives, personal circumstances. IFM Trade recommends that you seek independent personal financial advice. A Product Disclosure Statement (PDS) for our financial products and our Financial Services Guide (FSG) are available at www.IFMTrade.com or can be obtained free of charge by calling IFM Trade on 1300 735 125 (+61 3 9021 0420). The PDS and FSG are important documents and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s financial products or services. Warning: CFD trading both carry a high level of risk to your capital with the possibility of losing more than your initial investment. These products may not be suitable for all investors and are not available to individuals under the age of 18. Please ensure that you are fully aware of the risks involved and refer to our Risk Warning. If necessary, seek independent financial advice. The Customer Agreement and Execution Policy are available at www.IFMTrade.com and are important and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s products.

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AUDUSD drifting around the 0.7200 level awaiting Australian trade balance data




The Aussie is trading just below the 0.7200 level awaiting trade balance figures due to be released at 11.30AM AEST today, after ending yesterday’s session flat, despite the encouraging GDP figures announced earlier on the day.

Australia’s trade surplus for July is expected to contract to $1.4 billion after the previous month’s surplus of $1.9 billion. Analysts attribute the contraction to China’s ongoing trade war with the US, which is indirectly affecting China’s trade with Australia.

Investors are probably not going to take a heavy bet on the AUDUSD in either direction at the moment, but analysts are expecting a stronger investor reaction on the Aussie tomorrow when the US non-farm payrolls are announced.

Technically, immediate support for the AUDUSD is seen at the 0.7165 level, but if the Aussie breaches that, it will see support at 0.7130.

Should the AUDUSD find any strength to move up, it will see some resistance at the previous support of 0.7225 and surpassing that, it will meet its next resistance at the 0.7260 level.

By Jin Rin Yau
Jin is one of IFM Trade’s senior Account Managers and Market Expert. You can reach him Monday to Friday directly on +61 291 907 556 or via email on jinrin.y@ifmtrade.com

IFM Trade is a registered business name of Intelligent Financial Markets Pty Ltd (IFM Trade). IFM Trade (ACN 155 185 014) is authorised and regulated by the Australian Securities & Investments Commission (ASIC) AFSL number 3426359. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial asset. IFM Trade is not a financial adviser and all services are provided on an execution only basis. IFM Trade is authorised to provide general advice only and information is of a general nature only and does not take into account your financial objectives, personal circumstances. IFM Trade recommends that you seek independent personal financial advice. A Product Disclosure Statement (PDS) for our financial products and our Financial Services Guide (FSG) are available at www.IFMTrade.com or can be obtained free of charge by calling IFM Trade on 1300 735 125 (+61 3 9021 0420). The PDS and FSG are important documents and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s financial products or services. Warning: CFD trading both carry a high level of risk to your capital with the possibility of losing more than your initial investment. These products may not be suitable for all investors and are not available to individuals under the age of 18. Please ensure that you are fully aware of the risks involved and refer to our Risk Warning. If necessary, seek independent financial advice. The Customer Agreement and Execution Policy are available at www.IFMTrade.com and are important and should be reviewed prior to deciding whether to acquire, hold or dispose of IFM Trade’s products.

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