Free Trial

AUD/USD traded flat overnight and last.......>

AUSSIE
AUSSIE: AUD/USD traded flat overnight and last sits at $0.7171. Markets saw
muted reaction to the release of Australian MYEFO (although AUD might have
garnered some very modest support in early Asia-Pac hours). The mid-year budget
update saw Australia's 2018/19 budget deficit halved, set to turn into the
surplus in 2019/20. Meanwhile, forecast GDP growth for this fiscal year was
trimmed to 2.75%. 
- Bulls look for a move through the 55-DMA/50-DMA at $0.7185/94 before
challenging the 100-DMA at $0.7224. On the downside, bears need a fall through
Friday's low/lower Bollinger band (2%) at $0.7151/42 before targeting the 76.4%
fibo retracement of the move from $0.7021 to $0.7394 at $0.7109. 
- Aussie highlights this week include unemployment data due Thursday. Elsewhere,
the RBA is set to release its Dec meeting minutes tomorrow.

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.