USD Trading Outlook (23-04-2014)
The Australian Dollar (AUD): Under a quiet session yesterday, the AUD had been trading on either side of the 200 HMA. Market awaits for Q1 CPI and the HSBC China PMI. Bulls remains strong as the pair crossed upward to the 40 and 200 day moving averages while bears are still waiting for RBA to express some concerns on the current level of the currency. Either way, we would expect the CPI numbers to generate more debate and possibly force the RBA to act.
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