Free Trial

AUD/USD last trades at $0.7099, a touch......>

AUSSIE
AUSSIE: AUD/USD last trades at $0.7099, a touch lower on the day, after
operating within a ~30 pip range & closing 4 pips lower Thursday. This occurs
ahead of the release of RBA's Statement on Monetary Policy, which is expected to
confirm a neutral rate-guidance & slightly lower AU inflation/GDP forecasts
alluded to in Wednesday's speech from RBA Gov Lowe as well as in the RBA
decision back on Tuesday. 
- Also worth mentioning Thursday saw some cautious rhetoric re: a possible trade
deal with China from the top White House econ adviser Kudlow, while U.S.
President Trump confirmed that he will not be meeting Chinese President Xi
before the March 1 tariff deadline, both rounds of comments weighed on risk
appetite. 
- Bears look for a fall through Thursday's low of $0.7089 before challenging the
Jan 25 low & the lower Bollinger band (2%) at $0.7076, while bulls target
Thursday's peak at $0.7117, ahead of the 50-DMA/55-DMA/100-DMA at $0.7156/67/68.

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.