AUD Trading Outlook
Australian Dollar (AUD)finally broke above 1.0500 and we have opened up a run to 2012 highs 1.0625 if investor appetite can remain upbeat. Recent Chinese data releases and easing Euro tail risks have created a risk on trading environment for the Aussie. EUR/AUD is still in play for the AUD bears but the outperformance of the AUD is still expected for the short term at least. Looking ahead, RBAGovernor Stevens Speaks.
Australian Dollar (AUD) was very subdued yesterday in a 30 pip range finding solid sellers at 1.0500 and strong support near 1.0460. Chinese Trade Balance fell in November to 20bn as exports were lower than forecast. EUR/AUD is still getting attention with the important cross finding support at 1.2300 and buoyant in Asian trade Tuesday. Update Australian Business Confidence slumps to -9 in November near 2008 Financial crisis levels as the business cycle peaks for the commodity powerhouse. Looking ahead, no economic data.
Go to Australian Dollar (AUD) Archive