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  • AUDUSD weakened, halting an uptrend over the past three days, despite Australian CAPEX optimism.
  • Australia's Private Capital Expenditure (CAPEX) rose above forecast of 2.5% but was well below the previous 6.3% during the second quarter.
  • NSW recorded an all-time high of daily infections above 1,100.
AUDUSD daily analysis for August 26, 2021 will discuss the aussie movement that failed to continue the uptrend despite the better-than-expected Australian data. The surge in the virus weighed on the currency of the pair, thus stopping the AUDUSD three-day uptrend as market sentiment deteriorated. At the time of the AUDUSD daily analysis on August 26, 2021 written by the GIC team, the forex pair was at the level of 0.7257 Australian Private Capital Expenditure (CAPEX) in Q2, surpassing the market consensus of 2.5% with a figure of 4.4 but remaining below 6.3% in the previous report. On the other hand, the main component of Australia's GDP was disappointed regarding the increase in coronavirus problems in the kangaroo country, which weighed on the AUDUSD. Recently, Australia's most populous state, New South Wales (NSW) reported the highest daily infections with 1,029 cases and pushed the national number to 1,116. The number of viruses in China has also increased from 20 to 25 while New Zealand joins Australia which recorded a surge in the daily number of COVID-19s. The combination of virus issues combined with cautious sentiment ahead of the Jackson Hole Symposium will exert further downward pressure on the AUDUSD price. Before that, the US Personal Consumption Expenditures (PCE) Inflation data and the second reading of US GDP Q2 will also be important. Amid the game, the yield on 10-year U.S. government bonds struggled to extend its strongest gain in three weeks, recorded the previous day, at around 1.34% while S&P 500 futures were down 0.13% at the time of publication. In short, a calm market and anxiety over COVID-19 weighed on AUDUSD ahead of major USD data or events. Thus the daily analysis of AUDUSD August 26, 2021. Also read other articles that discuss forex in the GIC Journal. Also follow the latest information about GIC in the Press Release and also get a guidebook in the form of a Scalping Ebook.