Please disable Ad Blocker before you can visit the website !!!


by SignalFactory   ·  April 23, 2020 | 09:09:50 UTC  


by SignalFactory   ·  April 23, 2020 | 09:09:50 UTC  

AUD/USD extends the latest recovery moves but is still below the recent highs.

While extending late-US session recoveries from 0.6300, AUD/USD trades near 0.6322 as Asian markets open for Thursday. The pair manages to post its first positive closing in a week the previous day as oil prices stabilize and equities manage to post gains. Even so, coronavirus-led risks remain on the cards with Preliminary Aussie PMIs and trade figures to be watched for fresh impulse.

Risk-on or consolidation?

Even if oil and equity traders are taking a sigh of relief, the worst isn’t over yet. The coronavirus (COVID-19) still looms over the global powerhouses with extended lockdowns in many countries. Also raising alarms is the absence of a cure to the pandemic as well as the limited ability of the central banks to pump the global economy.

However, the readiness of the oil majors, including the US, OPEC+, and the Middle East, to ward off the risks of further declines in prices seems to have put a floor under the black gold. By the end of Wednesday’s settlement period, WTI futures for June gained 10% to cross $14.00.

Also supporting the risks could be US President Donald Trump’s push for the economic restart as well as the latest efforts from the European Central Bank (ECB).

It’s worth mentioning that the global rating agency Fitch recently forecasted the US GDP to contract by 5.6% in 2020.

Moving on, preliminary readings of the April month PMIs from the Commonwealth Bank of Australia (CBA) become the immediate catalysts to watch whereas March month preliminary trade figures could direct the Aussie moves afterward. While the activity numbers are likely to recover, trade statistics could bear the burden of the virus outbreak and may weigh on the quote. Though, commodity basket performance, as well as COVID-19 updates, remain as the key.


ENTER AT: 0.6336

T.P: 0.6312

S.L: 0.6371

All information on this website is of a general nature. The information is not adapted to conditions that are specific to your person or entity. The information provided can not be considered as personal, professional or legal advice or investment advice to the user. This website and all information is intended for educational purposes only and does not give financial advice. Signal Factory is not a service to provide legal and financial advice; any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities. Signal Factory does not offer, operate or provide financial, brokerage, commercial or investment services and is not a financial advisor. Rather, Signal Factory is an educational site and a platform for exchanging Forex information. Whenever information is disclosed, whether express or implied, about profit or revenue, it is not a guarantee. No method or trading system ensures that it will generate a profit, so always remember that trade can lead to a loss. Trading responsibility, whether resulting in profits or losses, is yours and you must agree not to hold Signal Factory or other information providers that are responsible in any way whatsoever. The use of the system means that the user accepts Disclaimer and Terms of Use. Signal Factory is not represented as a registered investment consultant or brokerage dealer nor offers to buy or sell any of the financial instruments mentioned in the service offered. While Signal Factory believes that the content provided is accurate, there are no explicit or implied warranties of accuracy. The information provided is believed to be reliable; Signal Factory does not guarantee the accuracy or completeness of the information provided. Third parties refer to Signal Factory to provide technology and information if a third party fails, and then there is a risk that the information may be delayed or not delivered at all. All information and comments contained on this website, including but not limited to, opinions, analyzes, news, prices, research, and general, do not constitute investment advice or an invitation to buy or sell any type of instrument. Signal Factory assumes no responsibility for any loss or damage that may result, directly or indirectly, from the use or dependence on such information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense, also within the meaning of any commercial act or law. Writers, publishers and affiliates of Signal Factory are not responsible for your trading in any way. The information and opinions contained in the site are provided for information only and for educational reasons, should never be considered as direct or indirect advice to open a trading account and / or invest money in Forex trading with any Forex company . Signal Factory assumes no responsibility for any decisions taken by the user to create a merchant account with any of the brokers listed on this website. Anyone who decides to set up a merchant account or use the services, free of charge or paid, to any of the Forex companies mentioned on this website, bears full responsibility for their actions. Any institution that offers a service and is listed on this website, including forex brokers, financial companies and other institutions, is present only for informational purposes. All ratings, ratings, banners, reviews, or other information found for any of the above-mentioned institutions are provided in a strictly objective manner and according to the best possible reflection of the materials on the official website of the company. Forex trading is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against merchants. Before each Forex investment, you should carefully consider your goals, past experience and risk level. The opinions and data contained on this site should not be considered as suggestions or advice for the sale or purchase of currency or other instruments. Past results do not show or guarantee future results. Neither Signal Factory nor its affiliates ensure the accuracy of the content provided on this Site. You explicitly agree that viewing, visiting or using this website is at your own risk.

Signal Factory is now on Telegram

make sure to join our Telegram channel now and you will not miss any update