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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free Access*Aug17 Aussie-dollar open $0.7925,...>
AUSSIE SUMMARY: *Aug17 Aussie-dollar open $0.7925, range $0.7923 to $0.7948
*Aussie opened in Asia at the upper side of yesterday's $0.7817 to $0.7934
range, where Trump's move to dissolve two business councils and Fed's inflation
concerns placed the greenback on the back foot
*Weaker US dollar theme continued ahead of local economic data, the pair climbed
higher from $0.7923 to $0.7949.
*Reaction to Australia's July's jobs report saw the rate dip from $0.7945 to
$0.7923 before regaining its poise to trade back at $0.7945. Traders were
disappointed with the break-down between full and part time jobs, full time
employment dropped 20,300 while part-time rose to 48,200.
*Consolidation then became the theme, the Aussie held a $0.7925 to $0.7937 range
ahead of the European open.
*Resistance is located at $0.7967 (61.8% $0.8066-$0.7808), while hourly support
is found at $0.7923.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.