AUDUSD Analysis : 15 July 2021 - Australian Economic Data Good, Aussie Weakens ?

AUDUSD analysis today, July 15, 2021, will discuss the movement of the Australian Dollar against the US Dollar. In market trading on Wednesday, the Aussie currency had strengthened compared to the US Dollar. The strengthening of the Australian dollar is supported by the optimism of market participants for the release of Australian consumer sentiment data released by Westpac Bank Corporation. The AUDUSD movement today was beyond prediction, because the release of good Australian economic data actually weakened the Aussie. This morning the release of Australian economic data is good, namely Employment Change and Unemployment Rate data. This employment data was released well above the prediction of 29.1K, while the prediction was only 19.7K but still below the previous period of 115.2K. In addition, Australian unemployment data was also released, released 4.9% and predicted 5.1% while the previous period was 5.1%. This data should have pushed the Aussie currency to strengthen, but the opposite happened. The Aussie's weakness was weighed down by poor Chinese data releases. China's data released shortly after Australia's economic data is China's GDP. China's economic data was released 7.9%, lower than the forecast of 8.0% and the previous quarter's 18.3%. This is what makes the Aussie currency weaken against the US Dollar. As we know that China is Australia's main trading partner. If China's economic data is good, then the Aussie will strengthen and vice versa. The US dollar weakened against several other major currencies in market trading on Wednesday. The weakening of the US Dollar was after the statement of the chairman of the US Central Bank "Jerome Powell". Federal Reserve Chairman Jerome Powell on his agenda last night told congressmen that current U.S. economic conditions are still far from normal levels as expected, before the Central Bank takes its policy to reduce its asset purchases. Although some Central Banks in the world are planning to start reducing their asset purchases, such as New Zealand and Canada. However, the Fed sticks to its statement that the United States still needs about 1-2 years to start planning to reduce its asset purchases.

AUDUSD analysis today 15 July 2021

AUDUSD prediction and analysis today is expected to continue its weakness/decline and the recommended OP (Open Position) is SELL at the level of 0.74500. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points. This the AUDUSD analysis today July 15, 2021 which discusses the movement of the Aussie currency, although the release of Australian economic data is good, the Aussie currency weakened against the US Dollar. This is due to the poor release of China's GDP data. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.