USD Trading Outlook (18-07-2013)
The market waited expectantly for the testimony from the Fed chairman but it turned out to be somewhat of a non-event. He refused to put a date on any ‘tapering’ of their QE program and said all options remain on the table and data dependant. I would have expected such statements to be more AUD/USD positive (risk positive, USD negative) but absolutely nothing happened.
Today’s economic calendar has Australian business conditions data as well as Chinese house prices.
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