• The AUD/USD price remains calm despite bouncing off the lows.
  • Market sentiment shrank due to optimism that vaccines failed to overcome Covid problems and there was anxiety over the reduction of the Fed's stimulus.
  • A quiet calendar (no momentum) and mixed worries became a challenge for traders during the Asian session.
AUDUSD is moving near 0.7340, amid Friday's Asian session. At the time of the AUDUSD daily analysis for August 13, 2021 written by the GIC team, the pair was at the level of 0.7343. The AUD pair remains directionless. Although the Coronavirus issue and fears of a Fed stimulus tapering are factors weakening the AUDUSD, the sluggish movement of the US dollar can be attributed to the inactivity of the currency pair. The US dollar index fell 0.03% to 93.00 at the time of the AUDUSD daily analysis for August 13, 2021. This greenback gauge follows the yield on 10-year US government bonds (Treasury) which fell one basis point (bp) after hitting a monthly high on Thursday. The Covid contagion remains a major challenge for global market sentiment, not just for AUDUSD traders. As per the latest data, the number of infections in Queensland and Victoria remains close to recent highs while China reported 99 new cases. Furthermore, Thailand reported a daily record of 23,418 new Covid cases while the number of deaths in the US remained close to the highest level in the span of five months. A burden for the currency pair is growing concern over the Fed's stimulus tapering after the latest US Producer Price Index (CPI) data, quoted from Reuters The Fed will announce plans to reduce asset purchases in September. On the positive side, still according to Reuters, US President Joe Biden asked lawmakers to enact laws aimed at lowering drug prices, including negotiating drug prices and imposing penalties on drug manufacturers who raise prices faster than inflation. Furthermore, Moderna's research revealed that antibodies that can last for six months make traders optimistic. Considering the sluggish momentum and a quiet calendar in the Asian session, AUDUSD may remain depressed towards 0.7300 but inactive. In any case, after that the US Michigan Consumer Sentiment Index for August, expected to remain unchanged near 81.2 will be important to watch and not ignore the risk catalyst. Thus the daily analysis of AUDUSD August 13, 2021, you can read articles and analyses about forex in the GIC Journal such as forex terms that you should know. In addition to articles and analysis, you can get a guidebook in the form of a Scalping Ebook. Not only Ebooks, you can also see video explanations about forex in the Premium Content video.