Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Bitcoin May Reclaim 20,000 as APAC Traders Eye Australian Jobs Data

Bitcoin May Reclaim 20,000 as APAC Traders Eye Australian Jobs Data

What's on this page

Bitcoin, BTC/USD, Inflation, Jobs Report, China, Technical Outlook Talking Points

  • A red-hot US inflation report dragged on market sentiment overnight
  • Australian jobs report on tap as AUD/USD struggles to rebound
  • BTC/USD bulls probe the psychologically important 20,000 level
Traits of Successful Traders
Traits of Successful Traders
Recommended by Thomas Westwater
Traits of Successful Traders
Get My Guide

Thursday’s Asia-Pacific Outlook

Market sentiment took a hit overnight after the US Consumer Price Index (CPI) rose to 9.1% y/y, beating estimates. US stocks fell, with the benchmark S&P 500 Index (SPX) posting a 0.45% loss. That pushed the 10-year/2-year yield curve’s inversion to the deepest level since 2007, intensifying fears over an economic slowdown.

Crude oil prices rose but remain deeply negative following Tuesday’s sharp decline. The Energy Information Administration (EIA) reported a 3.25 million barrel build in crude oil stocks for the week ending July 8. Analysts were expecting a draw of 154k barrels. Gasoline stockpiles rose nearly 6 million barrels, hinting that consumer demand may be ebbing amid historically high pump prices.

AUD Forecast
AUD Forecast
Recommended by Thomas Westwater
Get Your Free AUD Forecast
Get My Guide

The Australian jobs report is due out today, providing a potentially high-impact event. The headline figure is expected to show the addition of 30k workers and a tick lower in the unemployment rate to 3.8%, according to a Bloomberg survey. A stronger-than-expected report may bolster rate hike bets for the RBA’s August meeting.

That, along with higher iron ore prices, may see AUD/USD move higher in today’s session. The next high-profile event for Australia is the second-quarter consumer price index due out on July 27. Mr. Lowe’s central bank may deliver a 50-basis-point rate hike next month depending on what that CPI print shows. For now, bond traders appear confident in the RBA, with yields well below last month’s levels.

Notable Events for July 14:

  • Singapore – GDP Growth Rate (Q2)
  • Japan – 20-Year JGB Auction
  • Japan – Industrial Production Final (MAY)

Click here to view today’s full economic calendar

BTC/USD Technical Outlook

BTC/USD is trading higher after falling for three days. Prices found support around the June/July lows, but bulls haven’t been able to clear the psychologically important 20,000 level. The 26-day Exponential Moving Average (EMA) that limited an early-July rally may shift into focus if prices break higher.

BTC/USD Daily Chart

btc chart

Chart created with TradingView

Trade Smarter - Sign up for the DailyFX Newsletter

Receive timely and compelling market commentary from the DailyFX team

Subscribe to Newsletter

--- Written by Thomas Westwater, Analyst for

To contact Thomas, use the comments section below or @FxWestwater on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.