GBP Trading Outlook
ORDERS & FLOWS: Heavy end-of-month turnover is expected today and most reports suggest that it will be mainly AUD-negative. The market is short in anticipation of these flows and if they don’t eventuate, watch out for some sharp short-covering rallies.
ORDERS & FLOWS: Despite the big moves there were no reports of any major AUD flows with banks and prime brokers reporting elevated turnover from the usual leveraged players. Sovereign players bought large amounts of AUD/USD yesterday during Asian trade and this will eventually have an impact on the speculators.
ORDERS & FLOWS: Sovereign buyers expected in the AUD/USD between .9600 and .9550. AUD/NZD macro-type bids reported at 1.1750, offers also heavy 1.1975/1.2000.
ORDERS & FLOWS: Very few flows of note reported overnight. Sovereign buyers still anticipated in the AUD/USD between .9600 and .9550.
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