Free Trial

AUD/USD last deals at $0.7020, 15 pips.......>

AUSSIE
AUSSIE: AUD/USD last deals at $0.7020, 15 pips higher on the day, as the Aussie
outperforms all of its G10 peers on the back of stronger than exp. Chinese
Caixin services PMI & the Chinese Commerce Ministry confirming that Sino-U.S.
vice-ministerial trade talks are scheduled for Jan 7-8. This allowed AUD to
recover, after it struggled in the early part of the Asia-Pac session. 
- Bulls now look to the Jan 2 high of $0.7054 before challenging $0.7071, where
the rate peaked on Dec 31. Conversely, bears need a fall below $0.6954, which
represents the 23.6% fibo retracement of the move from $0.6741 to $0.7019,
before targeting the lower Bollinger band (2%) at $0.6935 
- Australian focus next week turns to AU trade balance due Tuesday and retail
sales due Friday.

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.