AUDUSD pushes higher with strong momentum
The pair is accelerating past September highs.
Share this:
The US Dollar was bearish against most of its major pairs on Thursday with the exception of the GBP. On the US economic data front, Initial Jobless Claims jumped to 853K for the week ending December 5th (725K expected), from a revised 716K in the week before. Continuing Claims unexpectedly rose to 5,757K for the week ending November 28th (5,210K expected), from a revised 5,527K in the prior week. The Consumer Price Index increased 0.2% on month in November (+0.1% expected), from unchanged in October. Finally, the Monthly Budget Deficit contracted to 145.3 billion dollars on month in November (198.5 billion dollars expected), from 284.1 billion dollars in October.
On Friday, the Producer Price Index Final Demand for November is expected to rise 0.1% on month, compared to +0.3% in October. Finally, the University of Michigan's Consumer Sentiment Index for the December preliminary reading is expected to slip to 76.0 on month, from 76.9 in the November final reading.
The Euro was bullish against most of its major pairs with the exception of the NZD, AUD and CAD. In Europe, the European Central Bank has kept its key rates unchanged and has decided to boost PEPP (Pandemic Emergency Purchase Program) by 500 billion euros to at least March 2022. Separately, the UK Office for National Statistics has reported October GDP at +0.4% on month (vs flat expected), industrial production at +1.3% (vs +0.3% on month expected) and trade balance at 1.738 billion pounds deficit (vs 156 million pounds deficit expected). Furthermore, France's INSEE has posted October industrial production at +1.6% (vs +0.4% on month expected).
The Australian dollar was bullish against all of its major pairs.
Source: GAIN Capital, TradingView
On Friday, the Producer Price Index Final Demand for November is expected to rise 0.1% on month, compared to +0.3% in October. Finally, the University of Michigan's Consumer Sentiment Index for the December preliminary reading is expected to slip to 76.0 on month, from 76.9 in the November final reading.
The Euro was bullish against most of its major pairs with the exception of the NZD, AUD and CAD. In Europe, the European Central Bank has kept its key rates unchanged and has decided to boost PEPP (Pandemic Emergency Purchase Program) by 500 billion euros to at least March 2022. Separately, the UK Office for National Statistics has reported October GDP at +0.4% on month (vs flat expected), industrial production at +1.3% (vs +0.3% on month expected) and trade balance at 1.738 billion pounds deficit (vs 156 million pounds deficit expected). Furthermore, France's INSEE has posted October industrial production at +1.6% (vs +0.4% on month expected).
The Australian dollar was bullish against all of its major pairs.
The AUD/USD broke above our first target of 0.75 in Thursday's trading breaking September highs. The pair gained an impressive 91 pips making it the top major pair of the day in terms of performance. Price action is currently above the upper Bollinger band indicating bullish momentum. We have raised our stop-loss to match the 20-day moving average at 0.738 with new targets of 0.765 and 0.777 in extension
Source: GAIN Capital, TradingView
The US Dollar was bearish against most of its major pairs on Thursday with the exception of the GBP. On the US economic data front, Initial Jobless Claims jumped to 853K for the week ending December 5th (725K expected), from a revised 716K in the week before. Continuing Claims unexpectedly rose to 5,757K for the week ending November 28th (5,210K expected), from a revised 5,527K in the prior week. The Consumer Price Index increased 0.2% on month in November (+0.1% expected), from unchanged in October. Finally, the Monthly Budget Deficit contracted to 145.3 billion dollars on month in November (198.5 billion dollars expected), from 284.1 billion dollars in October.
On Friday, the Producer Price Index Final Demand for November is expected to rise 0.1% on month, compared to +0.3% in October. Finally, the University of Michigan's Consumer Sentiment Index for the December preliminary reading is expected to slip to 76.0 on month, from 76.9 in the November final reading.
The Euro was bullish against most of its major pairs with the exception of the NZD, AUD and CAD. In Europe, the European Central Bank has kept its key rates unchanged and has decided to boost PEPP (Pandemic Emergency Purchase Program) by 500 billion euros to at least March 2022. Separately, the UK Office for National Statistics has reported October GDP at +0.4% on month (vs flat expected), industrial production at +1.3% (vs +0.3% on month expected) and trade balance at 1.738 billion pounds deficit (vs 156 million pounds deficit expected). Furthermore, France's INSEE has posted October industrial production at +1.6% (vs +0.4% on month expected).
The Australian dollar was bullish against all of its major pairs.
Source: GAIN Capital, TradingView
On Friday, the Producer Price Index Final Demand for November is expected to rise 0.1% on month, compared to +0.3% in October. Finally, the University of Michigan's Consumer Sentiment Index for the December preliminary reading is expected to slip to 76.0 on month, from 76.9 in the November final reading.
The Euro was bullish against most of its major pairs with the exception of the NZD, AUD and CAD. In Europe, the European Central Bank has kept its key rates unchanged and has decided to boost PEPP (Pandemic Emergency Purchase Program) by 500 billion euros to at least March 2022. Separately, the UK Office for National Statistics has reported October GDP at +0.4% on month (vs flat expected), industrial production at +1.3% (vs +0.3% on month expected) and trade balance at 1.738 billion pounds deficit (vs 156 million pounds deficit expected). Furthermore, France's INSEE has posted October industrial production at +1.6% (vs +0.4% on month expected).
The Australian dollar was bullish against all of its major pairs.
The AUD/USD broke above our first target of 0.75 in Thursday's trading breaking September highs. The pair gained an impressive 91 pips making it the top major pair of the day in terms of performance. Price action is currently above the upper Bollinger band indicating bullish momentum. We have raised our stop-loss to match the 20-day moving average at 0.738 with new targets of 0.765 and 0.777 in extension
Source: GAIN Capital, TradingView
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
EUR/USD weekly outlook: Oil, inflation and NFP in focus
After coming under significant pressure in recent weeks, the EUR/USD came off its lows to finish the week on a positive note on Friday, albeit with only a mild rebound. That was not enough to prevent the exchange rate falling for the third consecutive week, as the US dollar and bond yields rallied across the board.
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
USD/JPY Q4 2026 Outlook: Hawkish Fed Pricing Clashes With Intervention Risk
The year-end tug-of-war is clear: hawkish Fed pricing supports USD/JPY, while intervention risk limits the upside.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.