USD Trading Outlook (06-05-2014)
The Australian Dollar (AUD): After the inspired rally to the 21-DMA, the AUD/USD lost steam and settled into 0.9252/0.9285 range for both Europe and NY sessions. Narrowing yield spreads and trend resistance off April high managed to cap bullish momentum and aldo due to upcoming RBA meeting aided to keep action subdued. No major changes are expected from the RBA today but traders may see risks lean to the dovish side. Aus inflation and other econ releases have fallen short of forecasts and may get mention by Steven.
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