Forex Daily Analysis : 02 February 2021

The daily forex analysis on February 02, 2021 today discusses the movement of the Kiwi in trading on Tuesday (February 02, 2021) is expected to weaken/fall. This is due to the decline in copper prices in the world. Market participants' focus will be on the release of the statement of the Australian central bank (RBA) which will be released at 10:30 WIB. If the decision is "hawkish", it will strengthen the Australian currency, but if the decision is taken "dovish", it will weaken the Aussie Dollar. The greenback is still showing its might. The strengthening of the US Dollar includes: There are still many market participants buying the Dollar as a safe haven. This is because, the first challenge that appears and will be faced by US president Joe Biden is to realize his campaign promise regarding the Covid-19 relief fund stimulus of US $1.9 trillion. Among them are about 10 Republican senators who reject the nominal amount proposed by Biden. The senators have also sent a letter asking Joe Biden to revise the amount of the stimulus. The Republican senator proposed and requested that the amount of Covid-19 pandemic relief funds be reduced to US $600 billion. In addition, the strengthening of the Dollar occurred as a result of the distribution of the Corona vaccine outside the US began to face obstacles. Among them are the European Union and the United Kingdom which are in dispute over the supply of vaccines in the two countries. Investors are worried that the tension will have an impact on the implementation of the border between Northern Ireland, where the territory is the territory of the United Kingdom and Ireland which is still a member of the European Union. Some experts predict that the strengthening of the Dollar will still strengthen in the near future, driven by stability in economic growth and good and fast vaccination distribution in the United States. The strengthening of the US Dollar will still be observed by market participants, especially this week there will be the release of employment data and the monthly unemployment rate in America. The data is NFP and Unemployment Rate data in America.

Forex Daily Analysis Predictions

Today's FOREX prediction on the AUDUSD pair is expected to weaken/fall and the recommended OP (Open Position) is SELL at the level of 0.76150. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points. This the daily analysis of forex 02 february 2021. 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.