AUD/USD banging its head on the ceiling, NFP could be the adjudicator By ross_burland AUDUSD DollarIndex Commodities Currencies
ion so far. At the time of writing, AID/USD is trading at 0.7508 and has chopped between 0.7502 and 0.7536 range so far. markets have been given another boost by the prospects of the Ukraine crisis dragging on for longer. The prospects of a cease-fire have been dashed by the latest comments by key officials involved in the war.
Indeed, on Wednesday, Russian forces bombarded the outskirts of Kyiv and the US administration had warned on Tuesday they were sceptical of Russia’s vow to curtail its military assault on Ukraine, ending the day with a note of caution after hours of peace talks between the two sides appeared to make some headway. bounced as doubts grew over Russia’s intentions in Ukraine. The Thomson Reuters CRB Index rallied 2.
''That said, we expect some of that boost to fizzle, though to a still firm job growth pace of +350k. Indeed, job gains should lead to a new drop in the unemployment rate to a post-COVID low of 3.7%. We also expect wage growth to slow to a still firm 0.3% MoM pace.''The price is testing the resistance in the daily chart but is yet to move in to mitigate that imbalance from the bullish rally on the daily . Therefore, the bears will be looking for a move to test at least 38.
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