Free Trial

AUD/USD falling after soft GDP data, with....>

AUSSIE
AUSSIE: AUD/USD falling after soft GDP data, with the household consumption
metric +0.3 Q/Q. Soft headline reading could be seen as keeping the RBA lower
for longer given its current "glass half full" outlook. BBG's WIRP function last
prices a ~43% chance of the RBA staying on hold through 2019.
- Rate last deals at $0.7306, after a brief look below the figure saw a session
low of $0.7295 in the wake of the GDP data. A clean break below opens up the
November 30 low at $0.7285 as initial support, followed by the 21-DMA at
$0.7268.
- Rate had benefitted from earlier upbeat rhetoric from China's MOFCOM re: trade
matters that were tempered by U.S> President Trump sticking to a more balanced
approach in a tweet.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.