Forex Daily Analysis : April 30, 2021

Forex daily analysis on April 30, 2021 will briefly discuss the trading movement on Thursday, April 29, 2021 yesterday on the AUDUSD market moving weaker. The Aussie weakness is due to the physical buying of the US Dollar by market players. This action was carried out in tandem with the beginning of the increase in US government bond yields for long-term tenors. For today's market movement in the Asian session, it is estimated that there will still be a weakening of the Australian Dollar. After the release of China Manufacturing PMI data which was released negative 51.1 lower than predicted and the previous period, causing the Aussie to also weaken compared to the US Dollar currency. However, the release of China's Caixin Manufacturing PMI data is positive, so it can limit the Aussie's weakness. For economic data on the China Manufacturing PMI index which was released, this was due to pressure on the index part such as the New Order which was also released to decrease from the previous data of 53.6 to 52.0. In addition, the index of new export orders was also dragged and decreased from 51.2 previously to only 50.4. Furthermore, for the data on the part of employment, the effect of the decline is even further, from 50.1 now to only 49.6. The US Dollar currency slowly strengthened against other major currencies, the strengthening of the US Dollar occurred due to the positive release of US economic data. The US Advance GDP (Gross Domestic Product) data was released at 6.4%, although it was released below expectations but still higher than the data of the previous period. The solid economic data also supports the increase in bond yields with a tenor of 10 years. The rise in US government bond yields was also supported by President Joe Biden's statement regarding additional stimulus with a sizable amount of around US $2 trillion. The US government boosted development in the first quarter and remains focused on carrying out Covid-19 vaccination quickly and comprehensively.

Forex Daily Analysis Predictions 

Today's FOREX prediction on the AUDUSD pair is expected to weaken/fall and the recommended OP (Open Position) is BUY at the level of 0.77550. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
This the daily analysis of forex on April 30, 2021 regarding the causes of the weakening of the Australian Dollar. 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.