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Market Mood AUDUSD 10.07.20

Market Mood AUDUSD 10.07.20

Market Mood AUDUSD 10.07.20

in Daily Forecasts

Listen to the latest market mood for the AUDUSD pair.

The sentiment is negative from overnight trading on COVID-19 concerns and news that US President Trump is planning tariffs against France and banning US Gov’t from buying goods and services from several Chinese tech firms including Huawei and ZTE.

The Dollar extended yesterday’s gains as COVID-19 second wave fears rise. This should result in the USD being supported today.

By contrast, the AUD should be weak today. As a high beta currency, it loses value in this market environment and Australia’s PM Morrison said news from Victoria state is very concerning and announced Australia will reduce the number of inbound arrivals as well as conducting a nationwide review of hotel quarantine.

Therefore, expect AUDUSD sellers from pullbacks.

Day trade outlook – We expect this trade to play out before the end of the US session.

Trade Risks

  • Any fast fall in Australia COVID-19 cases would also invalidate this outlook.
  • Any reversal of risk tone would weaken the USD and invalidate this outlook.

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Legal Forms & Documents

Risk Warnings

Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation 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 by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation 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 by an employee of HYCM, a third party or otherwise.

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