Free Trial

Extending Gains

AUSSIE

AUD/USD went bid Thursday as broader risk-on flows and firmer commodity prices provided tailwinds, with participants assessing the chance for a fiscal deal in the U.S. The rate posted gains for the second consecutive day.

  • The pair has added a handful of pips this morning and last changes hands +9 pips at $0.7174. Gains past the 50-DMA/Oct 1 & 6 highs at $0.7206/09 would bring Sep 22 high of $0.7235 into play. Conversely, a break under Oct 7 low of $0.7096 is needed to expose Sep 29 low of $0.7070.
  • Australian housing finance data and RBA's Financial Stability Review headline today.
  • Next week, focus moves to Westpac Consumer Confidence (Wednesday) as well as labour market report & RBA Gov Lowe's speech (Thursday).

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.