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Soft U.S Retail Sales Figure Dragged Down Indices & Commodities

By Research Team Thursday, Jan 19, 2023
AUD/USD

    • 9.20amD1
    • High0.69478
    • Low0.68935
    • Close0.6902

AUD/USD is trading at 0.69055, 0.06% down since previous day close. The Aussie widely depreciated in early trade on Thursday post release of weaker Employment data release. The number of employed people fell by 14.6K lower than previous figure of 58.3K & the Unemployment Rate grew to 3.5% against the expectation 3.4%. Besides this, the weaker U.S Retail Sales data further weakened the market sentiments. Earlier, the pair tested higher levels of 0.70000 as traders remained optimistic over chances of smaller interest rate hikes in forthcoming FOMC meeting. The result of CB Leading index data will remain in focus on Friday. As seen in the chart, the pair slid down to MA (10) & MA (20) which acts as make or break point o daily basis.

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Daily Outlook

AUD/USD

Intra Day
Near Day

Technical Levels

R3 0.72365
R2 0.71087
R1 0.70263
Turnaround 0.69809
S1 0.68985
S2 0.68531
S3 0.67253
By Research Team Thursday, Jan 19, 2023
US100

    • 9.38amW1
    • High11479
    • Low11446
    • Close11465

US100 is trading at 11461.3, 0.07% down since previous close. The U.S markets slid down on Thursday after U.S issued soft Retail Sales data which fell by 1.1% weaker than -0.8% as expected. This indicates slowing economic growth in U.S. However, the scenario was altogether different till previous session wherein an index was trading at higher levels on rising chances of smaller interest rate hikes in near future as U.S CPI data showed a progress in inflationary concern. Besides this, the better U.S Non-farm Payroll data & the positive chances of easing down restrictions in China surged up global markets. The result of Jobless Claims & Housing Starts data will remain in focus for the day. Wait & watch strategy may be build up for the day in US100.

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Daily Outlook

US100

Intra Day
Near Day

Technical Levels

R3 12150.00000
R2 11859.00000
R1 11669.00000
Turnaround 11568.00000
S1 11378.00000
S2 11277.00000
S3 10986.00000
By Research Team Thursday, Jan 19, 2023
WTI OIL

    • 10.05amD1
    • High82.37
    • Low78.9
    • Close79.43

WTI Oil is trading at $78.58, 0.06% down since previous day close. The Oil prices retreated on Thursday post release of U.S American Petroleum Institute (API) report which showed a rise in Oil stocks level by 7.615 mbpd against the expected fall of 1.75 mbpd. Globally, the U.S issued weaker than expected Retail Sales data which weakened the market sentiments. Earlier, the soft USD on account of rising chances of smaller rate hikes in Fed’s next meeting led buying bias in Crude Oil. The Saudi Arabia cuts down the Oil selling prices to Asia & Europe which cushioned the prices. The result of U.S EIA report will be closely monitored for the day. Slight selling bias may be established for the day in WTI Oil.

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Daily Outlook

WTI OIL

Intra Day
Near Day

Technical Levels

R3 87.17000
R2 83.70000
R1 81.57000
Turnaround 80.23000
S1 78.10000
S2 76.76000
S3 73.29000
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