USD Trading Outlook (28-06-2013)
The main event today should be the month-end Fixings, particularly in London, where initial reports suggest that demand will be significant for the AUD. Asset managers re-balance their FX weightings at the end of the month and as this is also end of Australian financial year, we may get some heavier flows than normal.
Most of the action yesterday in the FX market happened elsewhere, with firstly NZD strength to the fore followed by GBP weakness after economic data missed estimates.
Once again the Australian economic calendar is empty with only a raft of Japanese data to potentially introduce volatility.
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