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USD Trading Outlook (02-04-2014)

The Australian Dollar (AUD): The AUD posted new high after initial RBA statement and slid back to around 0.9250-60 area. USD/JPY made steady gains from 103.20 towards 103.75 aided to keep AUD/USD bounces limited. NY walked in with the pair near 0.9260 and early action dragged the AUD down to 0.9230. Exporters bids held the pair from 0.9220/30 zone and pushed the pair back to the opening level. Market awaits for the Oz retails sales and trade balance data.

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