USD Trading Outlook
The Australian Dollar (AUD): The pair consolidated close to 0.9250 area for most of Europe and NY sessions as 0.9250 capped gains. Commodity currencies, led by USD/CAD's break below 1.1070, went broadly bid and AUD/USD cracked through the barrier. The pair rallied to a high of 0.9272 but failed to push higher as USD/JPY's slide abated & offer touted 0.9275/85 loomed, making the pair dropped back to 0.9250.
The Australian Dollar (AUD): The pair rallied higher after Governor Steven's speech in Hong Kong on the economy outlook. Bulls continued to push in NY session to a high of 0.9245. No further gains were seen as 0.9250 barrier holds and yen crosses weakness caused AUD/JPY drop towards 93.95/00 support, making a slight drop in the AUD to 0.9220 area. Little data is due for the Oz or Asia region so movements in AUD could be limited.
The Australian Dollar (AUD): The pair had little movements during most of the NY session, consolidating in the 0.9140-55 range. After Draghi's speech USD weakness permeated the market. AUD/USD ran light stops through 0.9160 and hit a high of 0.9175. Little data is due so the market may focus on RBA Governor Steven's speech in Hong Kong today at 06:00 GMT on "The Economic Outlook".
The Australian Dollar (AUD): Initial China PMI caused the pair to drop and dips were bought through out Europe and NY. 0.9120/30 was capped at the start but rally continued as broad based USD selling ignited by EUR/USD's stop loss run spike higher. 0.9150 was hit but gains were erased as USD bulls emerged late in the NY session.
The Australian Dollar (AUD): Short covering remained from last week, the pair opened up at 0.9082 and rally started immediately pushing the AUD above 0.91. Today's main focus will be the Chinese March HSBC manufacturing PMI. The prior reading was 48.3 which indicates contraction. If the data comes in poor, pressure will hit on AUD again however, if it comes in good then 0.9150 resistance level could be tested today.
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