| 
March 02, 2023
AUD/USD is sharply lower after losing 30 pips, declining as low as 0.6732.
New United States Initial Jobless Claims improved upon the previous 192,000 figure while also exceeding analyst expectations with a reading of 190,000.
GDP in Australia fell short of market expectations (0.8) with a reading of 0.5, continuing the decline from the previous figure of 0.7. United States Initial Jobless Claims beat analyst expectations of 195,000 and the previous reading of 192,000 with new data of 190,000.
Amid the market gloom, Australia Building Approvals (MoM) (Jan) came out at -27.6, while a consensus of analysts was expecting -8.
In the meantime, negative performances are seen in other pairs, after ending yesterday's session at 1.4503, EUR/CAD lost 96 pips and is trading around 1.4407. EUR/USD closed at 1.06 (down 0.69%).
Though Aussie-Dollar has been dropping, other pairs have been performing better: having closed the previous session at 1.3416, USD/SGD is up 0.44% today to currently trade at around 1.3476.
Furthermore, Australia Home Loans (MoM) will be released tomorrow at 00:30 UTC. Australia CFTC AUD speculative net positions is scheduled for tomorrow at 20:30 UTC. United States ISM Non-Manufacturing PMI (Feb) is expected tomorrow at 15:00 UTC.
As things stand, Aussie-Dollar is 8.83% away from a significant low of 0.6213 first set 4 months ago.
