USD Trading Outlook (02-05-2013)
There was plenty of action in the crosses overnight and the AUD was firmly in the spotlight. EUR/AUD made a sharp move higher after the recent consolidation range was broken and AUD/CHF bore the brunt of risk-averse sentiment. The FOMC left US monetary policy unchanged and a spate of disappointing US economic data affected the traditional risk trades.
It should be a busier session today with China returning after a 3-day holiday and Chinese manufacturing PMI on the economic calendar.
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