AUD Trading Outlook
The Australian Dollar (AUD) was the currency of choice as US stocks soared 3% the AUD/USD broke above 1.0500 surging to 1.0750 before stalling and consolidating lower. AUD/JPY broke above Y80 and AUD/NZD broke above 1.3000. The RBA rate meeting next week is now in focus and could see AUD selling pressure if they cut rates.
The Australian Dollar (AUD) the Aussie broke under 1.0400 yesterday after slower than expected Q3 CPI core measurements. The market is now pricing in a high chance of the RBA cutting rates at next weeks meeting and this is capping gains. Later, the AUD/USD soared on the Greek debt deal news and is threatening to break 1.0500.
The Australian Dollar (AUD) the AUD/USD failed to get above 1.0500 going into the European session and when stocks turned negative the pair fell back to 1.0400 supported. Q3 CPI figures just released were at forecast at 0.6% q/q but the core figures showed a sharp miss at 0.3% vs. 0.7% forecast. The AUD/USD current down at 1.0370 supports.
The Australian Dollar (AUD) the Aussie was the strongest currency in the market breaking above 1.0400 and then surging to test 1.0500 in the US session as stocks extended gains. Strong Chinese data helped in the Asian session and the QE3 talk hurt the USD later. Looking ahead, On Wednesday Q3 CPI forecast at 0.7% vs. 0.9% q/q.
The Australian Dollar (AUD) the AUD/USD soared above 1.0300 with the large gains in US stocks propelling the risk currency higher. The market has been buying the Australian dollar aggressively in recent weeks on optimism of a positive outcome in the EU. Looking ahead, Q3 PPI forecast at 0.8% Q/Q. Also Chinese HSBC PMI previously at 49.9 with 50 being the key level.
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