The AUD/USD pair reverted an intraday slump to 0.7591, a fresh monthly low, to close the day with gains just below the 0.7700 thresholds. The pair was pressured by the dismal market mood that ruled the Asian and European sessions, later changing course with Wall Street’s comeback.
Data wise, Australia had little to offer this Thursday. The Import Price Index came in at -1% in Q4, while the Export Price Index resulted in 5.5%. The country will release the Q4 Producer Price Index early on Friday.
Yesterday, the U.S. released Initial Jobless Claims and Continuing Jobless Claims reports which indicated that the situation in the job market has started to stabilize after the recent blow dealt by the second wave of the virus. Interestingly, these reports failed to provide support to riskier currencies.
Today, foreign exchange market traders will look at Personal Income and Personal Spending data from the U.S. Personal Income is projected to grow by 0.1% month-over-month in December while Personal Spending is expected to decline by 0.4%.
AUD/USD Short (Sell)
ENTER AT: 0.7646