Free Trial

Showing Some Early Weakness


Broader greenback sales lent support to AUD/USD yesterday, but the rate has unwound some of those gains this morning. It last deals at $0.7412, a dozen pips lower on the day.

  • A break under Nov 5 low of $0.7360 would allow bears to take aim at Oct 13 low of $0.7324. On the flip side, a move through Nov 4 high of $0.7471 would clear the way to the 200-DMA/50% retracement of the Feb - Aug sell-off at $0.7550/57.
  • NAB Business Confidence improved to 21 in October from 10 recorded in September, "as lockdowns came to an end in both NSW and Victoria."
  • Australia's Westpac Consumer Confidence will hit the wires tomorrow, while consumer inflation expectations and jobs market data will be released on Thursday.

To read the full story



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.