USD Trading Outlook (27-06-2013)
The AUD continued to claw back some lost ground, particularly on the crosses, but this move seems to be more stop-loss related rather than any fundamental strengthening of AUD sentiment. Metal prices remain very weak and this weighed on the AUD at times, but with the overall short-positioning still at extreme levels, it’s proving difficult for the AUD to make any fresh lows.
The NZD trade balance is the main event on the economic calendar.
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