USD Trading Outlook
The Australian Dollar (AUD): The pair was pushed lower in Europe session as it failed to penetrate weekly cloud and sat around 0.9365 as NY got going. The better than f/c U.S CPI initially hit the AUD to 0.9340 before pausing. The USD gains were erased and US yields gave back post gains but AUD did not benefit much from it. AUD tested local bids in the 0.9325/30 area as it hit a low of 0.9327. No further losses were seen though as the USD remained heavy and JPY bulls ran out of gas.
The Australian Dollar (AUD): The pair made two attempts in early Europe session to run stops above 0.9410 but failed and slid back towards 0.9385 as NY started. Bulls started to lose hope as USD slide lost steam. The AUD then slid from NY high of 0.9407, broke the s-t support & traded near 0.9365 before bouncing back to 0.9380 where it sat late in the day to leave it up near 0.25% on the day.
The Australian Dollar (AUD): Europe pushed the pair lower before Australia Government budget report and hit a low of 0.9333. Short covering started as there were no major surprises in the report. The lift got further boosted as Germany's Buba agrees with ECB's June stimulus if inflation forecast came in lower and got the AUD up towards 0.9350. AUD then made another rally on the miss of U.S retails data to a high of 0.9383. However, 0.9400 barrier kept the AUD rally limited.
The Australian Dollar (AUD): The AUD rallied steadily yesterday towards 0.9375 into NY open and hit a high of 0.9386. However, no further gains were seen as 0.9400 barrier and the upcoming Aus Govt budget announcement to sap the positive energy. The early gains were then erased quickly as US yields were firm along with US equities while USD/JPY pressed towards 102.20. Few Oz data and China industrial output due later in Asia session and U.S retail sales due tonight.
The Australian Dollar (AUD): AUD was generally bullish but was mostly pressured by the crosses, especially against EUR and CAD. Follow on from Draghi's Thursday statement, EUR/AUD cleared 1.4710 support to retest 1.4690-95 while the weak CA jobs results pressed AUD/CAD up to the 30DMA near 1.0220. Little data due for the AUD this week, impact may affect the pair could come from external factors while the ECB rolls out numerous speakers and the US has a fairly full data due.
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