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, SPX500 trades at 7563.2. That puts the index up about 9 points from Monday's open of 7554.2, a gain of roughly 0.1 percent for the week so far. The high this week is 7569.4, printed Monday, and the low is 7486.2, set Tuesday. Price spent Monday sliding to a 7507.2 close, then recovered through Tuesday and into Wednesday to reclaim the 7560 area.
The turn came on Tuesday, when the index rallied off the 7486.2 low and closed at 7558.3, erasing Monday's drop. Wednesday added a small extension to 7563.2 on lighter volume ahead of the US data slate. The move sits into US PPI, due Wednesday at 12:30 GMT, with headline PPI forecast at 0.0 percent against a prior 1.1 percent and core PPI forecast at 0.3 percent versus 0.4 percent prior.
Fed Chairman Warsh testifies Wednesday at 14:00 GMT, and that is the single event most likely to move the index into Thursday. If the tone reads dovish and price holds above 7548.2, the week's high near 7569 comes back into focus. If the testimony pushes yields higher and 7548 gives way, Tuesday's 7486 low is back on the table. The second marker is Thursday's US data block at 12:30 GMT, headlined by Retail Sales at a forecast 0.2 percent against 0.9 percent prior, alongside Philly Fed and jobless claims. Friday brings UK GDP and prelim UoM Consumer Sentiment, forecast at 51.0 versus 48.9 prior.
As of Wednesday morning, sentiment shows 58.4 percent of positions long and 41.6 percent short. That is a moderate long lean, consistent with the Tuesday recovery, but it is not a crowded book. The skew tells you consensus leans toward the upside without conviction strong enough to call it stretched.
7560 is the pivot. Hold above it through PPI and the Warsh testimony and the 7569 high stays within reach. Lose it and 7548.2, Wednesday's low, is the first test, with 7486.2 the deeper level if selling extends. Index traders watching correlated risk can track the Nasdaq 100 for confirmation of any move. If you want to follow these levels with live pricing, you can open an account with LHFX.
Byline: LHFX Research
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