USD Trading Outlook
The Australian Dollar (AUD): The pair ignored the better than expected U.S Retail sales data and rallied to a high of 0.9104 as early risk sentiment was buoyant. However, real money seller jumped in as tensions in Ukraine once again increased. China banks are considering to cut loans to bloated industries by up to 20% which added pressure to the pair. Further pressure was from ECB Draghi which sank the EUR/USD and kept USD strong against most major currencies.
The Australian Dollar( AUD): The AUD continued a new trend low of 0.8923 as copper spiked down near $2.905/91. RBA deputy Governor Philip stated that RBA is comfortable with how the economy is tracking. Short recovering started on the pair to a high of 0.8997. Main focus in Asia session will be the OZ jobs report, if it disappoint again, AUD is likely to get hit hard and RBA may have to rethink their recent neutral rate bias.
The Australian Dollar (AUD): The pair hit daily high of 0.9050 before Europe sold off the rally to 0.9015-25. Copper broke below $3.00 which increased market concerns that China's corporate credit issues would be worsening. 0.90 broke and AUD hit to a low of 0.8965, little bounce was seen. Westpac consumer sentiment is due today at 23:30GMT, a weak data could lead AUD to test support of 0.8930.
The Australian Dollar (AUD): Sell off continued due to poor Chinese Trade balance data that came through last weekend. Drop in copper and iron ore combined increased concerns on overall China economy which affected AUD/USD directly. A low of 0.9011 was touched, AUD currently still sitting above 0.90, a break below would give better confirmation on this pair. Employment data on Thursday could add further pressure on AUD/USD if it comes in poor.
The Australian Dollar (AUD): The pair dropped to a low of 0.9062 after NFP came out better than expected and recent AUD/USD longs scrambled to get out. Through the weekend we had poor Chinese data (Trade balance and CPI) that caused the gap in early Asia which opened at a low of 0.9037. This week's China Feb inflation and AUS Feb jobs data will be the main focus for the market on the pair.
Go to U.S. Dollar (USD) Archive