The Australian Dollar advanced during the Asian trading session as consumer inflation expectations rose and the labor market surprised to the upside by adding 41.4K jobs. The AUDUSD elevated from string support levels as the US Dollar is coming under more selling pressure after the 30-Year Treasury Yield dropped to a new all-time low and the 2-Year/10-Year yield curve inverted, a strong recession signal. Can price action accelerate further to the upside? Today’s fundamental analysis will analyze the upside potential in the AUDUSD as well as evaluate the downside risk.

Forex traders will get a wave of US economic data today which is expected to move the US Dollar. Retail sales will share the attention with industrial and manufacturing production data. Did the US consumer continue to borrow and support the economy in the wake of the US-China trade war? The US bond market flashed its first recession signal since 2015 as the economy is cooling around the globe. How much longer can the US Dollar attract safe haven investors? Subscribe to the PaxForex Daily Fundamental Analysis and take the profitable side of this AUDUSD trade!