The early-Asian comments from Australia’s Treasury Secretary and upbeat Consumer Inflation Expectations favors the Aussie. Earlier on Thursday, Australia’s Treasury Secretary Kennedy gave comments praising the Pacific major’s pace of economic recovery. He also said, “Looking forward to an increase in business investment this year and next.”

Favoring Aussie, Australian Consumer Inflation Expectations for February grew more than 3.4% forecast and prior to 3.7%.

Elsewhere, The Australian Bureau of Statistics is scheduled to release numbers for the employment change on Thursday (February 18, 2021). According to economists’ view, the economy added 50K new jobs in January 2020, as compared to exactly similar numbers in the month before.

On the other hand, US President Joe Biden had same stance of Donald Trump’s hard stand on Beijing during his first-ever telephonic conversation with Chinese counterpart Xi Jinping. Following Biden’s criticism of China’s economic practices, Reuters released the news that a senior US official hints at changes in trade policy with China.

As a reaction to that, China’s Jinping indirectly warned the US that the confrontations will be a disaster for both the countries while also raising concerns over Taiwan, Hong Kong and Xinjiang.

President Biden took to his Twitter handle, saying: “I spoke today with President Xi to offer good wishes to the Chinese people for Lunar New Year. I also shared concerns about Beijing’s economic practices, human rights abuses, and coercion of Taiwan. I told him I will work with China when it benefits the American people.

AUD/USD 4 Hour Chart:

Support: 0.7708 (S1), 0.7693 (S2), 0.7669 (S3).

Resistance: 0.7746 (R1), 0.7770 (R2), 0.7785 (R3).

Amidst all the catalysts favoring Aussie against greenback, we expect a bullish trend for AUD/USD.