Free Trial

AUD/USD trades at ~$0.7270 at writing,.......>

AUSSIE
AUSSIE: AUD/USD trades at ~$0.7270 at writing, unchanged in early Asia-Pacific
trade. Having failed to take out the $0.7400 level Tuesday, soft AU GDP data
extended the pairs corrective pullback through Europe Wednesday. The close below
$0.7300 points to a false bullish breakout allowing bears to target the $0.7200
level. Bulls ultimately need to clear the $0.7400 handle, with more immediate
resistance noted at Wednesday's intraday high of $0.7356.
- Focus today falls on AU trade balance and retail sales data for October after
yesterday's GDP data revealed consumer consumption growth (a focal point in RBA
reasoning at present) slowed in Q3.
- RBA Deputy Gov Debelle will speak later in the day (in the London morning),
speech titled "Lessons and Questions from the GFC."
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.