Market Analysis
AUDUSD midweek: Aussie reclaims 0.6987 after Monday dip, 2026-07-13
AUDUSD trades at 0.69875 midweek, up roughly 46 pips from Monday's open, with a thin back-half calendar and the daily PBOC fix in focus.
2 min readAs of Wednesday's close, silver sits at 58.502. That leaves it down 0.413 from Monday's open of 58.915, roughly a 0.7 percent slip on the week so far. The range has been wide. Silver has printed a weekly high of 59.637 on Tuesday and a low of 56.83 the same day, so the metal has covered nearly three dollars of ground before settling back near where it started.
Monday opened heavy and closed near the lows at 57.568 after tagging 57.232. Tuesday reversed hard, pushing to 59.637 before fading to close at 58.754. Wednesday has been quieter. The PBOC held its yuan fixing near expectations, keeping broader dollar sentiment steady and leaving silver drifting inside a tighter band between 59.035 and 58.098.
US PPI at 12:30 GMT Thursday is the main event left on the board. Headline PPI is seen at 0.0 percent against a prior 1.1 percent, with core PPI forecast at 0.3 percent. If the print comes in soft and the dollar eases, silver has room to retest this week's 59.637 high. A hot number that firms the dollar puts Tuesday's 56.83 low back in focus. Fed Chairman Warsh testifies at 14:00 GMT the same day, and any hawkish tone there can override the data reaction. Friday's Prelim UoM Consumer Sentiment, forecast at 51.0 versus 48.9, is the secondary read to watch.
As of Wednesday morning, LHFX client positioning shows 62.8 percent long against 37.2 percent short. That skew tells you the crowd is leaning into a rebound after the dip, betting the Tuesday recovery has legs. A long-heavy book can add fuel to a downside break if those positions get flushed.
The line in the sand is 58.50, where price closed Wednesday. Hold above it into the PPI release and the 59.00 round number, then Tuesday's 59.637 high, come into view. Lose 58.098, Wednesday's low, and the 57.00 handle becomes the next test lower. Silver often takes its cue from Gold, so watch that pair for confirmation of any move. You can track both levels in real time when you open an account with LHFX.
Byline: LHFX Research
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