Free Trial

Aussie opened in Asia toward the upper.......>

AUSSIE
AUSSIE: Aussie opened in Asia toward the upper side of yesterday's
$0.7765-$0.7810 range where broad-based US dollar weakness and stronger
commodity prices (CRB index +0.8%), helped to underpin. Copper prices are on a
tear, up 1.6% yesterday on the LME and now up 11.5% for the last 15 days.
Australian Private Sector Credit data provides a modest event risk, expectations
are for a rise of 0.4% m/m and 5.2% y/y. Decent resistance remains at
$0.7814/17, the level holds 50% fib retracement $0.8125-$0.7502 decline and
daily cloud top, while support is being found near to the 100-dma ($0.7779).

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.