Morning market update 23 07 2021
By Scott Andrews
AUDUSD buy trade was closed out with the stalling out will continue to monitor this pair for buying opportunities based on how the US dollar behaves today. Ideally a pullback to the lower 0.73 region would be most desirable. US news was mixed with the initial jobless claims coming out with 419k worse than expected with 350k the forecast although existing home sales beat last month with 5.86 mil slightly lower than expected at 5.90 mil. Existing home sales for June was 1.4% higher than last month at -1.2%. This saw the US dollar stay close to 93.00 to the end the session after some volatility around the jobs miss pulling back to below 92.50 before rallying to 92.80. Indicating that the bullish case for the DXY is still present with a push to 93 and beyond likely in the near term for next week.
US index 23 07 2021
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