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AUDUSD is making a break below the 0.7340 support zone

It will takes about:

September 16, 2021

Latest updates:

– Stocks in Asia traded mostly lower but there was not any major news that would justify the move. Australian S&P/ASX 200 is one the few indices from the region to gain
– European futures markets point to a higher opening of today’s cash session
– ECB Chief Economist Lane said that he is happy low interest rates are boosting core inflation
– Australia reached a security deal with the United States and the United Kingdom and will get nuclear-powered submarines. China urged three countries to reject cold war mentality. New Zealand announced that new Australian submarines will be banned from entering its territorial waters
– Australian jobs report for August showed an employment drop of 146.3k (exp. -80k). However, unemployment rate dropped from 4.6 to 4.5% (exp. 4.9%)
– New Zealand Q2 GDP growth reached 2.8% QoQ (exp. 1.5% QoQ)
– Japanese exports were 26.2% YoY higher in August (exp. 34% YoY) while imports were 44.7% YoY higher (exp. 40% YoY)
– AMC Theaters, chain of US movie theaters owned by AMC Entertainment, will start accepting payments in Bitcoin Cash, Ethereum and Litecoin
– Precious metals trade lower amid US dollar strengthening. Oil gains slightly while industrial metals drop
– AUD and GBP are the worst performing major currencies while USD and JPY gain the most

AUDUSD is making a break below the 0.7340 support zone following a release of a jobs report. Drop in employment is a key as better-than-expected unemployment rate reading was a result of drop in participation rate. Key support to watch for the pair is recent low at around 0.7110.

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