USD Trading Outlook
The Australian Dollar (AUD): As Asia could not fully break the 0.9200 barrier, we saw short covering started as Europe session came in and pushed the pair to a high of 0.9245. USD/JPY support (103.80/85) hold and once again we saw another broad bid on the USD and sent the AUD back down to 0.9216 area. The AUD hugged the 200 hour MA for the rest of the session. Main focus for today will obviously be the U.S NFP data, a better than forecast number could see AUD clear 0.9200 barrier.
The Australian Dollar (AUD): The pair was trading in tight ranges (0.9230-65) throughout Europe and NY session with slightly bearish signals as USD strength is still the overall sentiment for the market and the AUD was bought on crosses. The AUD now could go either way at the moment, risk events coming up today and tomorrow which will give a better indication on the pair. For today, we have the retail sales, trade balance, RBA Steven speaking, China March HSBC PMI and ECB due later in the day.
The Australian Dollar (AUD): The AUD posted new high after initial RBA statement and slid back to around 0.9250-60 area. USD/JPY made steady gains from 103.20 towards 103.75 aided to keep AUD/USD bounces limited. NY walked in with the pair near 0.9260 and early action dragged the AUD down to 0.9230. Exporters bids held the pair from 0.9220/30 zone and pushed the pair back to the opening level. Market awaits for the Oz retails sales and trade balance data.
The Australian Dollar (AUD): Both Europe and NY session tried to pressure the AUD, however, downside were limited after Yellen's relatively dovish statement and rallied the pair from a low of 0.9217 to 0.9278. Big day today for the AUD as market awaits for Chinese PMI, and RBA afterwards. No change in rates is the forecast however, a hawkish statement may see AUD/USD rally again as market increases bet that the RBA's next rate move will be up.
The Australian Dollar (AUD): The pair continued to drift lower in Europe and NY session. Softness in EM markets seemed to be the catalyst for the pair's slide and got the AUD to test support of 0.9240/30 region. Upcoming events for this week that will influence the AUD are; China manufacturing PMI and the RBA announcement. The RBA may temper any bearish moves though as many expect the bank to cease jawboning over the AUD and possibly present a more upbeat economic outlook.
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