USD Trading Outlook (09-10-2014)

AUD/USD Europe sold a rally towards 0.882 and had the pair near 0.8790 as NY got going. NY kept the pressure on as the USD was firm for most of NY. The pair pushed towards 0.8760 before bouncing a bit. Another leg lower took hold though as EUR/AUD lifted above daily highs near 1.4460 and 1.4490. AUD/USD hit a low inNY of 0.8735 before bouncing ahead of the Fed minutes. The dovish lean and mention of USD strength in the minutes sent USD spiraling lower across the board. AUD/USD spiked up to a high of 0.8847. Offers ahead of 0.8850 capped the gains but very little pullback was seen. Late in the day the pair sat near 0.8840. traders now look to the OZ jobs report later. The ABS’ adjustment to previous releases has the market wondering what tonight’s result will be. Should the results surprise to the topside AUD/USD likely gets another boost and may make a run at 0.8930/50 resistance.