USD Trading Outlook (21-05-2014)
The Australian Dollar (AUD): Early Europe stop loss run through 0.9290 accelerated the drop on the pair after RBA minutes/Debelle comments also inspired the slide. A dip below 0.9250/60 was seen but bounce was only limited to 0.9270-75 area. Hawkish comments from Fed Plosser saw the 55-day MA pierced and a new low of 0.9241 was hit. Westpac consumer sentiment will be the main event for the AUD and May BOJ interest rate/MPS are the big event risks for Asia.
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