USD Trading Outlook (01-04-2014)

The Australian Dollar (AUD): Both Europe and NY session tried to pressure the AUD, however, downside were limited after Yellen’s relatively dovish statement and rallied the pair from a low of 0.9217 to 0.9278. Big day today for the AUD as market awaits for Chinese PMI, and RBA afterwards. No change in rates is the forecast however, a hawkish statement may see AUD/USD rally again as market increases bet that the RBA’s next rate move will be up.

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