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Bullish Outlook

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Trend Needle Still Points South

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Risk-On Sentiment Dominates

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AUSSIE
AUSSIE: Improved risk appetite supported AUD on Thursday, with soft U.S. CPI
data providing AUD/USD with an extra boost.
- The rate breached the key $0.7200 level, but couldn't close above the figure,
struggling ahead of the September 04 RBA-inspired high ($0.7235), last $0.7190.
- Bulls need a close above $0.7200 to open up a move toward the $0.7305/10 area
in an attempt to stage a reversal. The failure to hold $0.7200 keeps the YTD low
($0.7085) in play, ahead of the key $0.7000 psychological level which is
reported to hold option-related support.
- Chinese retail sales & industrial production provide the highlights of the
Asia-Pacific docket on Friday, although AUD traders' focus has switched to the
release of the minutes from the RBA's latest MonPol decision, on Tuesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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