USD Trading Outlook (16-04-2014)
The Australian Dollar (AUD): AUD/USD opened in NY session at 0.9390, after an Asian session sell off sparked by 0.8% drop in the Shanghai Composite Index. Higher than Expected U.S CPI gave USD a boost and the metals complex, base & precious took a hit. Copper in particular was hit hard and caused AUD/CAD sales as Australia is the 5th largest producer. Tensions in East Ukraine increased, US equities in the brief red zone. Main focus for today will be on Chinese data, a poor reading could lead AUD/USD to test 0.9290-0.93 area.
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