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Fundamental Analysis
AUD/USD
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[QUOTE="HotForexsignal, post: 160389, member: 58463"] [B]AUD/USD trades behind modest losses, just above mid-0.7100s[/B] [I]Risk-off feel boosts USD relative safe-port status subsequent to-door-door to the Aussie. US-China trade optimism might in the back limit deeper losses, at least for now. Focus remains in this area the Fed Chair Jerome Powells semiannual testimony.[/I] The AUD/USD pair held around to its weaker impression through the Asian session regarding Tuesday and is currently placed at the lower fade away of its daily trading range, just above mid-0.7100s. The pair stalled its recent utter hurt ahead, supported by optimism on a peak of US-China trade negotiations, and met back some well-ventilated supply to snap two consecutive days of winning streak on Tuesday. A roomy response of risk-hypersensitivity trade, triggered by geopolitical campaigning in the Asian continent, was seen as one of the key factors benefitting the US Dollar's relative safe-dock status against its Australian counterpart. Apart from the prevalent risk-off environment, repositioning trade ahead of today's key modify risk - the Fed Chair Jerome Powell's semiannual testimony in the antediluvian the Congress - adding going on collaborated to the pair's disease. In the first of a two-hours of daylight announce forward lawmakers, Powell will testify in the by now the Senate Banking Committee well ahead regarding the subject of Tuesday and his comments will be to the side of scrutinized for the central bank's view concerning speaking monetary policy. This coupled plus than a slew of important macro data, including Chinese PMI prints and the revised US Q4 GDP, mount going on figures upon Thursday, might auxiliary contribute towards determining the pair behind the leg of a directional concern. [/QUOTE]
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