Once again we are seeing the market defend the 38.2% retracement of the October to January sell-off at 0.9079

Chris Weston

Pepperstone

Once again we are seeing the market defend the 38.2% retracement of the October to January sell-off at 0.9079. If you look at yesterdays candle on the daily chart it printed a doji pattern, highlighting the indecision in the market. A neutral stance on the pair is warranted, and I am waiting for the market to dictate play. At 11:30 we get Australian Q4 wage costs and the market expects a slight slowdown to 2.5% yoy (from 2.7%). Naturally this is a key input into inflation expectations, so a number below this figure could feed into the idea that inflation in Australia could fall in the coming quarters.


Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.