USD Trading Outlook
The Australian Dollar (AUD): Europe session tested and pierced the last November high of 0.9448. The pair then drifted a bit lower to near 0.9435 as USD/JPY made a run towards 102 after better than f/c unemployment claim. The pair tested the hourly support but USD bears emerged across the board at that point. The AUD therefore, rebounded back above 0.9420 and spent most of the session around there. China March inflation data is due later, A soft result may see more AUD longs unwind.
The Australian Dollar (AUD): Offers protected the 0.9400 barrier twice and slid back to a low of 0.9348 in NY session. The FOMC minutes came in relatively dovish and US bond yield gave up earlier gains while USD went broadly offered. AUD/USD made another strong push and hit a 0.9399 high. The barrier was kept safe but only slight pullbacks were seen as the USD remained weak. Market will now be focusing on today's Oz jobs data for March and China trade balance. A solid reading will once again boost up the AUD and barrier may be cleared.
The Australian Dollar (AUD): AUD ignored the JPY strength throughout Europe and NY session. The pair remained bid as USD was generally soft and emerging currencies maintained their upward tone. AUD/USD pushed from near 0.9290 towards 0.9340, a slight pulled back and dip was bought again in NY, cracking the 0.9350 resistance and stops were run to a high of 0.9360. April Westpac consumer confidence index & change data are due later. Solid readings likely keep bulls in charge.
The Australian Dollar (AUD): Offers ahead of 0.9300-0.9310, both Europe and NY session continued to add pressure for the pair. Soft equity futures and some short covering in USD against emerging currencies weighed on AUD and saw the pair slide to a low of 0.9254. With little major data due until Thursday Oz jobs data, AUD/USD may hold the 0.9200/0.9310 range. March NAB business confidence is due later, a weak data may press the AUD/USD lower as some weak bulls might unwind ahead of the jobs data.
The Australian Dollar (AUD): The miss on the NFP data and unemployment rate spiked USD lower which made the pair rallied to 0.9290 quickly and further lifted towards 0.9308 but was unable to break above it. Later in the session, the AUD just sat near hourly support at 0.9280. A relatively light US data week will put AUD trades focus on the March Oz jobs report on April 10th.
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