It’s a quiet day ahead on the economic calendar. There are no material stats to consider, leaving geopolitics and COVID-19 and vaccine news in focus
The Business NZ PMI came in at 63.6, up 9.4 points from February, and the highest monthly result since the survey began in 2002.
The direction of the AUD/USD into the close on Friday is likely to be determined by trader reaction to the short-term Fibonacci level at .7728.
The Australian dollar has exploded for the week, reaching to fill the previous, and now threatens the 0.78 handle.
The Australian dollar has been back and forth during the course of the trading session on Friday, as we continue to stare down the 0.78 handle.
AUD/USD made another attempt to settle above the resistance at 0.7750 but failed to develop sufficient upside momentum.
Economic data from China failed to impress this morning. Later today, finalized inflation figures from the Eurozone and consumer sentiment figures from the U.S will be in focus.
Investors in Audacy Inc (AUD) saw new options become available today, for the December 17th expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 246 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration..
The Australian dollar has rallied slightly during the course of the trading session on Thursday to reach towards the 0.78 level.
AUD/USD settled above 0.7720 and is trying to settle above the next resistance at 0.7750.