Tue. Oct 19th, 2021

This trend in the textbook in AUD / CAD is one that we should observe as we move on to the latest Reserve Policy statement from the Reserve Bank of Australia later in the Asian session.

Before continuing, ICYMI, today’s daily list of today’s U.S. session, looked at the USD / CAD downtrend setting, so be sure to check it out to see if it’s still there. has a potential game.

Intermarket update:

Equity markets Bond yields Commodities and cryptography
DAX: 15570.36 + 0.33%
FTSE: 7016.63 + 0.29%
S&P 500: 4400.64 -0.02%
NASDAQ: 14762,58 + 0.70%
US 10-YR: 1.233% -0.001
Bund 10-YR: -0.454% -0.007
United Kingdom 10-YR: 0.56% +0.00
JPN 10-YR: 0.014% -0.005
Oils: 72.22 + 0.79%
Or: 1,808.6 + 0.489%
Bitcoin: $ 40,253.75 $ 6.34%
Ethereum: $ 2,304.78 + 2.91%

Fresh market news and economic data:

Dow falls red in last trading hour, falling more than 50 points after losing early gain

Slowing growth in the US manufacturing sector: ISM

The July PMI remains at its highest level, but supply delays and price pressures also hit new highs.

The Treasury Department will invoke “extraordinary measures,” as Congress fails to meet the debt deadline

Eurozone manufacturing growth remained strong in July despite a slight loss of momentum

German manufacturing continues to gain momentum in July

German retail sales jump, consumers buy less online

Lack of resources and staff limits growth and increases costs for British manufacturers in July

Britain’s COVID-19 cases fell 33% last week

The Swiss consumer price index grew by 0.7% year-on-year in July

Bitcoin falls below US $ 40,000 amid concerns over US infrastructure law

PBOC says it will maintain high pressure on the crypto trade

Copper claws outperform the softer dollar, hopes for China’s stimulus

ASEAN’s manufacturing sector is sinking further
recession amid rising COVID-19 cases

Upcoming potential catalysts a Economic calendar

Tokyo CPI at 23:30 GMT
Australia Home Loans, Building Permits at 1:30 am GMT (August 3)
RBA interest rate decision at 4:30 am GMT (August 3)
Unemployment change in Spain at 7:00 GMT (August 3)
Euro zone at PPI at 9:00 GMT (August 3)

If you are unfamiliar with the major forex trading trading sessions, check out our Forex Market Hours tool.

What to see: AUD / CAD

1 hour AUD / CAD currency chart
1 hour AUD / CAD currency chart

In the one-hour AUD / CAD chart at the top, we can see that the market recently parted from a consolidation interval between 0.9225 and 0.9280 last week. And after finding buyers around the psychological level below 0.9150 last Friday, the pair has already returned to the broken support zone around 0.9220.

This not only sets a break and overhaul pattern, but we also have a Fibonacci argument for technical sellers to jump ahead of a potentially volatile event: the latest Reserve Policy statement from the Reserve Bank of Australia.

Expectations are that the RBA will stop changing interest rates, but it is very possible that we may see them cancel the process to end their bond purchase program.

This could be a bearish event for the Australian dollar and, given that it is already in a bearish trend against the Canadian dollar, the chances are pretty good that this scenario could bring down AUD / CAD this week.

Therefore, we are waiting for this scenario to develop and, if in fact the market unloads some Australian times, we will be looking for a short position in AUD / CAD, especially if we see new evidence of the broken levels of retreat of the support area / Fibonacci before and bones are maintained.

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